“vancouver, BC craigslist > vancouver > housing > apts/housing for rent
$4500 / 5br – 3600ft² – THREE SINGLE HOUSE READY MOVE IN (VANCOUVER WEST)
Date: 2012-06-01, 3:21PM PDT
Reply to: firstname.lastname@example.org [Errors when replying to ads?]
1.1936 W 35 AVE 5BR 4BA 3600SQFT GOOD SHAPE,MOUNTAIN VIEW. $4500
2.836 W 31 AVE. 7BR 6BA 4000 SQF,VERY WELL MAINTAINED,4000SQFT, $4800
3.3847 W 24 AVE BRAND NEW HOUSE.5BR 5BA 2780SQFT $48OO(NO PET FOR THIS ONE)
ONE YEAR OR LONGER LEASE.
SERIOUS TENANT PLEASE.
STABLE INCOME AND GOOD REFERENCE REQUIRED.
PLEASE SEND TEXT MESSAGE TO GARY 604 xxx xxxx
– craigslist ad 1 June 2012. [Spotted by Patsan at VCI 1 Jun 2012 4:35pm]
“This Gary guy has at least 12 West Side and Richmond properties advertised for rent. They are all vacant and available now and if you goggle the address all were recently purchased. Most of the properties on the West Side sold for close to 3 million and the Richmond ones are in the 1.5 million range. The guy must be a rental agent or ring leader behind investors who have recently dropped at least 20 to 30 million on houses to rent. The ads all state minimum 1 year lease so they are not looking for quick flips. None of the ads have photos or much details. The guy doesn’t have any houses advertised that appear to have been previously rented so he must be a newby to the game.
When you look at the yields they will get if they do get their asking rents they are below 2% after property taxes. Still lots of speculation going on out there. Actually considering the poor sales on the West Side and Richmond of late maybe speculators are the only ones buying.”
– Anonymous at VCI 2 Jun 2012 7:25am
A point of interest for those watching Vancouver RE is whether momentum-style speculators who have bought Vancouver SFHs will attempt to sell if price trajectories start to suggest we’re joining other failing housing markets around the world. We are of the opinion that many will.