Renting in Vancouver’s West End provides many different opportunities – each with pros and cons. For those visiting Vancouver’s West End for a few months, short-term or sublets may prove to be ideal. For those planning to stay for a longer time, leases and condos would be more fitting.
These tend to occur when someone else has agreed to a lease with an apartment building (usually 6 months or a year), but due to various reasons, have to relocate temporarily. To maintain their monthly apartment rate, and to maintain a home, they opt to sublet their apartment to someone else. Generally the cost of subletting is the same as the rent the original renter would be paying anyways. Once the short term sublet is over, the subletter moves out, and the original renter moves back in.
In some cases, there are apartments available for a short term period, usually a few months. This is due to a variety of reasons, such as future renovations, a gap between planned future tenants, or because of the nature of the building.
It is very common for those planning to rent long-term, to be required to sign a lease with the apartment building. These leases tend to state how long the tenant must stay, before moving, or be required to pay a penalty. Often, the lease will allow for an early exit, but requires the renter to find a new tenant to take over the lease.
For those looking for long term housing, purchasing a condo in Vancouver may prove to be the best alternative. Instead of paying a monthly rent to the apartment building, the owner would end up making payments to a mortgage, while building equity. In most condo situations, the owner would still have to pay fees to the building directly, but these would be considered Strata fees, and are designed to cover the day-to-day operations of the building.
Apartment Hunting Sites
For those looking to find apartments on the internet, check out these apartment listing resources: