Installing a basement suite can be lucrative, if it’s done according to city regulations, because St. Albert’s rental market is very tight.
Last October the Canada Mortgage and Housing Corporation’s fall Rental Survey showed that St. Albert had an overall vacancy rate of 0.9 per cent.
“That means that for every 100 apartments in St. Albert, less than one of those units – just 0.9 per cent – was available for rent. That translates into a high demand for rental accommodation,” said David Lan, Senior Housing Analyst for CMHC in Edmonton.
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