How the Fort McMurray wildfire has affected the Calgary and Edmonton rental property markets.
Tue, May 17 2016 at 10:41am
Northern Alberta?s hot temperatures and dry weather caused wildfires in catastrophic proportions. Up to 80,000 residents of Fort McMurray were subject to an evacuation order, and the majority of these residents ended up in Edmonton and Calgary.
While numerous conflicting reports exist, most authorities seem to suggest that the displaced residents will not be allowed back into their homes for 4 - 8 weeks as first responders ensure that Fort McMurray?s remaining structures, utilities, services, and facilities are safe for human occupancy.
Most residents are now forced to find suitable living arrangements from property management companies or individual landlords for the immediate foreseeable future, and many are renting homes on short term, month to month leases in Calgary and Edmonton rentals.
This phenomenon has created a fairly significant tightening of the rental property markets in each of the cities as many landlords whose properties were vacant, forgo their requirements for long term lease commitments and ease restrictions for pets and children to assist in the crisis.
To date, Hope Street property management has housed nearly 40 displaced families, many with young children or pets, and on short term or month to month lease agreements. Our biggest hinderance to housing more evacuees is finding suitable properties that are available for the short term.
Suncor's emergency housing group has been steadily referring displaced persons to Hope Street, and we have received numerous referrals from media outlets.
We maintain a sizeable database of evacuees and aim to assist all of them by providing short term, clean, safe temporary homes until the evacuation order has been lifted.
Hope Street is an industry leading property management firm serving 12 cities and towns throughout Alberta, not including Fort McMurray. Our goal is the provide the best property management Calgary and the best property management Edmonton has to offer.