Vancouver Condo Real Estate Video Blog #403 - September 15, 2009
2010 Winter Olympic Rental Opportunities at $15,000 for 600 Square Feet?
Ian Watt Video blogs about the rental madness on in Downtown Vancouver where 1 bedroom condo landlord's are expecting 2010 Winter Olympic Rental Opportunities at $15,000 for 600 Square Feet, which Ian doesn't think is realistic. There may be a few units that achieve sky-high rents but Ian believes that most units will rent for $5,000 or less. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.
Ian Watt: Hi Good Afternoon, it's Ian Watt in Downtown Vancouver. Coming up in February is the Winter Olympics in Downtown Vancouver as well as in Whistler. Now of course a lot of people are trying to cash-in on the Olympics in. But the thing is, that a lot of people are thinking that their gonna rent out their places for $15-$20,000 dollars for a little one bedroom or two bedroom unit. Now there's opportunities for sure to rent out your place for the short term. However my belief is, and I don't handle rentals let me just tell you that, is that were gonna see a little bit over of saturation of small units on the market. A lot of people are thinkin' that their gonna cash-in and get a huge dollar figures. But I think it's gonna be the up scale buildings, the lodgery units for sure their gonna get top dollar. But I don't think people are going to rented out. I don't think that because of the down turn in the economy, the global economy I don't think were going to see the opportunity that is one may thought they would have achieved probably six years ago. Who knows? maybe they still get about four grand for a one bedroom which is nice. But I don't think your going to get five figures for a little six hundred square foot unit in Downtown Vancouver. My name is Ian Watt. If you have any insight about the Olympics and short-term rentals that you'd like to share. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!