Loads of Metro Vancouver rentals are flooding Facebook Marketplace and Craigslist, and the folks managing these rentals are trying to find ways to entice tenants through incentives.
The average cost to rent an apartment has steadily been dropping in most Metro Vancouver cities, with Rentals.ca stating that rates had reached a 30-month low in its most recent report.
liv.rent’s most recent report found similar findings, saying, “The last time prices were at this level was 20 months ago, in April 2023, when prices were $2,263/month for a one-bedroom unfurnished unit.”
At least on Craigslist, the average rent for a one-bedroom unit around Metro Vancouver is slightly lower than what liv.rent reported, with listings on the platform suggesting the average is $2,105 per month.
Vancouver Craigslist
Despite the lowered rates, property managers haven’t stopped advertising incentives to attract people to their buildings. New Westminster, in particular, has many rentals being offered with various incentives.
What are Metro Vancouver rentals offering?
Fancy a free month of rent? How about some cash back? These are just some of the incentives being offered at rentals around Metro Vancouver. Some of these listings may be taken down, so we included screenshots. The other factor to consider is that some of these listings could be scams.
Don’t give anyone personal information regarding a rental until you’ve verified it is legit.
This Burquitlam rental is going all out, offering one month’s rent free, free parking for a year, and $500 in moving expenses covered.
Vancouver Craigslist
Then there’s this studio in New Westminster, offering renters $1,000 cash back.
Vancouver Craigslist
A few spots, like this Pandora Street rental in Vancouver, offer a $500 incentive.
Vancouver Craigslist
There are also a few spots where rentals are offering free months of rent, such as 1986 Stainsbury Avenue in Vancouver.
Vamcpiver Craigslist
Remember, if something seems too good to be true, it most likely is. Still, some of these are likely to be legitimate.
Have you ever rented a place that offered an incentive and successfully received it? Let us know in the comments.