CMHC’s fall 2016 outlook report forecasts Calgary’s rental market vacancy rate will reach eight per cent in October 2016, which would mark the highest level in more than a quarter-century
What can you do to reduce your cost of rent if you live outside Calgary?
First review all of your on top of rent expenses:
The cost of having lights ON run appliances other electricity consumptions.
If you pay for hydro and planning to live for long term in your rental unit, then it's worth investing in LED lighting. Every time a regular light bulb burn out replace it with an LED solution. You can get discount coupons on some of the LED lights from
Widely used for heating, invest in a smart thermostat the will literally pay for itself if you are out of your home during the day.
Some utilities companies in Canada are offering up to $100 rebate if you install smart thermostat like NEST and save up to $100 with Nest Energy Partners
or other smart thermostats. Click http://en.knowyourenergyscore.ca/smart-thermostats for a complete list of Energy Partners thermostats.
If you are renting a condo and parking is included, offer to rent your parking spot. Downtown condo parking can rent for as high as $150 a month. Same goes for lockers.
- Cable TV and that phone landline!
You really have to watch out for this. I have cut cable since 2005 and never looked back. Invest in a good over the air antenna that will save you thousands of dollars in cable TV over the years.
Lose the landline, everyone has a cellphone these days, if you need to make long use skype, google phone call or some VoIP phone service.