12 Nov Trouble Finding New Apartments for Rent in Kamloops, BC? Here’s Why
If you’ve ever been on the hunt for new apartments for rent in Kamloops, BC, you know that there aren’t many to choose from. While Kamloops apartment rental vacancies have increased compared to last year, there is a lot of competition from renters for new apartments.
New apartment construction has also increased over the past few years, but because new apartment rentals have been needed for many years, there still aren’t enough to fill the demand. The Kamloops population growth rate is constant at roughly 1.3% growth per year for the past 15+ years, so rental housing construction is outpaced by an ever growing need.
When Cross Developments (the McGill Ridge Apartments developer) completed construction on Summit Village Residences in 2014, the development offered the first new apartments for rent in Kamloops in almost 20 years!
In addition to competition, it’s often difficult to find new apartments in centrally-located Kamloops neighbourhoods. If a new apartment’s location makes travelling to work or school inconvenient, many renters pass and set their sites lower, choosing older apartment rentals that aren’t ideal, yet are located closer to where renters need/want to be.
Price is also a big factor for apartment hunters. McGill Ridge is competitively priced, even when considering that it is a brand new build, with exceptional amenities and high-quality build. Located steps from TRU, McGill Ridge is perfect for students and people working at TRU, in the Southwest Business District, or Lower Sahali.
Check Apartments for Rent at McGill RidgeHow to Find a New Apartments for Rent in Kamloops
While finding new apartments in Kamloops can be challenging, a little preparedness goes a long way to helping you score that ideal rental. Here are a few apartment hunting tips that can make your quest easier.
Make a list of must-have features
List features you absolutely must have. Consider the lack of any of these features as deal breakers.
Make a list of nice-to-have features
List features that would be nice to have, but that you could live without if they weren’t available.
Make a budget
What can you afford to pay for a rental apartment in Kamloops? According to the Financial and Consumer Agency of Canada “Key Findings from the 2019 Canadian Financial Capability Survey”, about 49% of Canadians use a budget. The importance of budgeting can’t be overstated. Average household debt, according the same survey, currently represents 177% of Canadians’ disposable income. Only by budgeting will you know exactly what you can afford to pay in rent, otherwise you are just guessing.
Settle on an apartment rental price range
Once you’ve drafted a budget, write down an apartment rental/lease price range you can afford.
Check out the neighbourhood
Drive and walk Kamloops neighbourhoods that you’d like to live in. Are there many local amenities? How is access to transit? How is access to other parts of Kamloops? Is the neighbourhood near main thoroughfares?
Calculate the cost of driving or transit in the apartment’s location
How much time and money will you spend on driving, vehicle maintenance, or transit in a neighbourhood you desire? Will you have to drive further to work or school? If so, how much money will you spend travelling each month?
Narrow your search
When you start your search online, be specific about the search terms you use in Google searches. “Kamloops apartments” will yield broader, less relevant results than “new apartments for rent in Kamloops”. If you want to narrow your search further, add the neighbourhood name to your search: “new apartments near TRU”, “new apartments on McGill Road”, “new apartments Lower Sahali”, for example.
Create a short list
Create a list of apartments, noting the address, website address, phone number, and pros and cons of living in each neighbourhood.
Check availability
Call each apartment management office or complete the website contact form for each apartment on your list. Finding a desirable, new apartment is a bit of a numbers game. The more apartments you apply to, the greater your chances of finding an available apartment.
McGill Ridge: Two Rental Apartment Buildings, with a Third on the Way
In 2019, Phase 1 of McGill Ridge apartments was completed, introducing 102 apartments for rent in Kamloops Southwest Business District. Phase 2, the third building of the development, has begun and will add 64 more rental apartment suites.
Kamloops Apartments in a Great Location
McGill Ridge is in high demand, though there are still some vacancies available. If you’re interested in renting a modern Kamloops apartment, complete our Request Apartment Availability form. We’ll contact you with availability and next steps.