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NWR: Rental Market - Vent

Stressing out about finding a place to live, just need a tiny vent!

Last year my FI took a job that required us to move to a city in northern British Columbia from Edmonton, AB. We sold our house and decided that it would make most sense to rent for the time being as we weren't planning on staying in the north for that long, merely as long as it would take for him to apply for a transfer back to Alberta. We found a nice apartment, for a rent that we thought was a little high but manageable and allowed us to still put money into savings (1250/mn).

Our year lease is expiring in September and we've decided that we would like to move to a place that felt a little bit more like home. Having owned our own home we were having some trouble adjusting to apartment living and thought we would like to find a townhouse or multiplex type dwelling for our (hopefully) last year up here, especially since our apartment rent is going up to 1450/mn we figured we could find something a little more private for the same cost.

But here's where I'm completely frustrated. The real estate/rental market has apparently exploded here in the last couple months. The average cost of a rental unit is now 2000-2500/mn (WITHOUT UTILITIES!) and it seems like everything is rented before you have a chance to even respond to the ad. And everyone wants renters effective immediately. We get laughed at when we say we are looking for a place for September 1, because the owners know they can find someone else to move in immidiately. We have to let our property manager know by mid-august if we are planning on staying at our apartment at our increased rate, and at this rate I think we may just have to stay. 

Which of course may sound like the best option, however the company we are with now demands a year lease. Which means next year we would have to have my FI's transfer completely done and ready to go, have found a place to live in another province, have a new job lined up for myself and everything else involved with a cross province move before our lease expires on September 30. Which I just cant see happening as whose lives line up perfectly in 1 year increments? 

oh and small minor detail... we get freaking married mid September next year!!!!!!

I just have absolutely no idea what to do. keep attempting to find a new place and potentially not be able to put money aside for wedding and future down-payment. or stay in place and risk having nowhere to live the month we get married next year.....commence minor panic attack.

Thoughts or suggestions??
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Re: NWR: Rental Market - Vent

  • I'd stay in your affordable place and move around the time of the wedding.  If you know it's coming, it won't be so bad.

    I mostly posted just to commiserate and say we're dealing with pretty much the same thing.  Our current place (large one-bedroom) is about $2450-- although we rent out our parking space so effectively it's $2300, not bad for the area.  Once I start working we figure we can go up to a two-bedroom.  Our lease is coming up in a few months and I looked up the prices for our current building for the upcoming year: the one-bedrooms start at $3100!  And the two-bedrooms start at $3700!  WHAT in the EVERLOVING fuck.  I know we are near NYC, but this is not Manhattan.  We really didn't want to move out of our building, but it looks like we're going to have to.  There's no way I'm paying $3000 to stay in my same apartment.
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    "I'm not a rude bitch.  I'm ten rude bitches in a large coat."

  • I'd stay in your affordable place and move around the time of the wedding.  If you know it's coming, it won't be so bad.

    I mostly posted just to commiserate and say we're dealing with pretty much the same thing.  Our current place (large one-bedroom) is about $2450-- although we rent out our parking space so effectively it's $2300, not bad for the area.  Once I start working we figure we can go up to a two-bedroom.  Our lease is coming up in a few months and I looked up the prices for our current building for the upcoming year: the one-bedrooms start at $3100!  And the two-bedrooms start at $3700!  WHAT in the EVERLOVING fuck.  I know we are near NYC, but this is not Manhattan.  We really didn't want to move out of our building, but it looks like we're going to have to.  There's no way I'm paying $3000 to stay in my same apartment.

    Yea it just seems so crazy to me that they can ask that for rent! This is a tiny city in middle of friggen nowhere near no amenities and that cost of rent is 2.5x the amount my mortgage was in a Capital city. There are a lot of oilfield workers up here that make a lot of money and I'm pretty sure that's what is driving it. There are people that will pay it. However not all of us in this small town are oilflield workers...
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  • natswildnatswild member
    Fourth Anniversary 250 Love Its 500 Comments Name Dropper
    edited July 2014
    whereabouts are you? it's very frustrating in BC and Alberta, but at least there's a cap for rental increases in BC. In Alberta, landlords can increase rent at any time as often as they want, as much as they want, it's insane! The greed of people is absolutely ridiculous :( 

    Good luck with finding a better spot.
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