Wanted to give you an update on the current situation in the Vancouver rental market. So far monthly rates on unfurnished 1 bedroom units are holding firm. However furnished rental rates are down 10%.
I just placed a new tenant in one of my Mt Pleasant units for June 1. Call and viewing interest was down by over 50% from the last time I was looking for a tenant. This was to be expected since the city is still in a state of emergency and many businesses are still closed. I would expect the activity level in the rental market to slowly get back to more normal levels as we move into Summer.