Last week we covered why people and capital are flowing into Alberta. This week it’s about what happens once they’re here — because the rules for landlords, combined with how well tenants can live, matter just as much as the demand.
3. TENANCY LAWS
I have friends all over Canada and often conversations turn to stories about tenants. My non-Albertan friends always say, “Alberta is pro-landlord.” The truth is most provinces are pro-tenant, and Alberta simply has balanced rental laws.
In Alberta, disputes over non-payment or lease breaches move through a quicker resolution process than the lengthier timelines in Ontario or BC — fewer lengthy disputes means a healthier building for everyone living in it.
Alberta also has no provincial rent control caps, which lets landlords adjust rents to match real supply and demand instead of a government formula.
Interestingly, provinces with the least rent control tend to have the lowest actual rents — the caps meant to protect affordability often end up having the opposite effect. Whereas natural supply and demand keep rent from growing unnaturally.
"To be successful in real estate, you must always and consistently put your clients' best interests first. When you do, your personal needs will be realized beyond your greatest expectations."
— Anthony Hitt
4. Cost of living
Alberta also offers a more affordable overall cost of living and higher average incomes compared to high-cost provinces like British Columbia and Ontario. The natural supply and demand in the rental market keeps rent lower than in other provinces. So the rent our buildings collect is coming from tenants who can afford it.
Additionally, purchase prices for multifamily properties are also much lower than what you’d pay in Toronto or Vancouver, which makes positive cash flow achievable.
Lastly, no provincial sales tax and generally lower energy prices round out the affordability picture, allowing household’s budget to stretch further.
Add it all up, and the rest of the country is noticing — which means more people will keep coming to Alberta in the long run.