“As someone who’s spent the last few months trying to find a decent rental in this town, I’d say that my impression is that the majority of would-be landlords on the West Side are looking to sell just as soon as they can, and many of them have only recently bought these properties! At potential rental after rental, house or condo, we discovered a). the place had been bought fairly recently and b). the answer to “How long can we stay?” was “Depends on market.”
– Vesta at VREAA 16 Sep 2011 12:07pm
“Try calling Dr. Aladdin [an individual on craigslist advertising a 2,600sqft Southlands SFH for rent; $3.5K p.m.]… No you cannot view this rental-to-be …he just purchased it and won’t have possession until the end of October.
craigslist has been littered with newly purchased ‘rental-to-be’s this year. Google 6188 Mackenzie St or 3118 West 44th Avenue, both “March madness” sales, now rental properties managed by Macdonald Realty and Advent Property Mgmt respectively. Are they available for long-term lease? No. Vesta is right.”
– Epica at VREAA 16 Sep 2011 1:47pm
These landlords may be planning on selling into a rising market, but how will they respond to a falling market? We’re anticipating a good number will try to bail precipitously, and thus add to supply (and price momentum) on the way down. – vreaa