Lethbridge residents struggling to find available and affordable rentals

Residents in Lethbridgesay they are struggling to find available and affordable rentals within the city.

Compared to larger centres in the province,Lethbridgeis a cheaper place to live, butrent has been rising at a rate higher than in other cities since 2017.

Statistics from the Canada Mortgage and Housing Corporation show that between 2019 and 2020, rent in Lethbridge increased by 3.8 per cent compared with 2.8 and 0.4 per cent in Calgary and Edmonton, respectively.

Statistics also showthat between October 2020 and October 2021, townhouse and apartment vacancy rates in Lethbridgedropped from 6.0to 3.1 per cent.

Amy Breznik is the owner and general manager of Renter's Choice, a property management company. She says the lack of available rentals is the product of a hot real estate market.

Increased expenses to blame,says property manager

Over the past five years,Brezniksays,Lethbridge had many"accidental landlords" people who wantedto sell their propertybutrented them out instead because the real estate market wasn't favourable. As homeprices skyrocketed in the past year, many of them took advantage.

"Realtors called their book of clients and said, 'Hey, if you still want to sell that house, the time is now.' That house would be listed and absolutely sold, and sold quickly," said Breznik.

"The volume of sales that was happening was kind of astronomical. There was inventory leaving, tenants being displaced, and there was no other opportunities for them to rent because there was not inventory coming on the market," she added.

Breznik says mortgage payments andother costs like insurance and utilities have gone up, and inflation has made everything more expensive.Thosecosts arepassed on to the renter in the form of increased rent.

However, as fifth-year university student Joel Mensah says, "pay hasn't gone up."

So this leaves residents scrambling to find places that are available and within their budget.

Students struggling to find accommodation

Lethbridgehas a large post-secondary student population, and while both the university and college have campus housing, they are able to house only a small percentage of students.

Mensah says he struggled to find a place and he's heard the same from other students. He and his roommates had to move when they learned their landlord would be selling the house they rented.

"Within two weeks, the house was already off the market because itwas a seller's market at that time," said Mensah.

He says there were few places available to rent, and those that were on the market were either too small or poorly maintained. Eventually, he had to settle for a place he described as dirty, dusty and unsanitary.

"We knew that the housing market and the rental market was bad. We would have moved out but there are no places, so we had to sacrifice on the quality. Yeah, we really had to compromise," he said.

Residents priced out

Disability support worker Tia Parr has been living in a motel for two months with her fianc and pet while they search for a new home.

"Either the prices have gone up really ridiculously or they were just like really old, rundown places, or they're not pet friendly and I have a dog, so it's even harder now to find places," she said.

Despite working full time, Parr is frustrated as shesays she does not meet the minimum income requirements set by many rental properties. She says her mental health has suffered because of her living situation.

"You're working your hardest and you're still being brought down and there's no options for you."

Breznik sympathizes with those who have been displaced throughout the city and says she understands the impact it has on families.

However,when it comes down to it, rising rents are a business decision as people invest in property for profit.

"All investments, people expect to make money. They're not looking to subsidize somebody, they're looking to earn passive income from a home," said Breznik.

Change needed, residents say

Mensah says students are an important part of Lethbridge's economy and he thinks the city could be negatively affected if they cannot afford or find housing.

Parr says high rent is even more difficult to deal with coupled with thecost of groceries and gas, and many people in the city are being affected.

"Thereare alot of families struggling right now, and I don't think a lot of people are realizing."