Canmore renters face lowest vacancy rate in Canada

People looking for a place to rent in Canmore are facing the lowest vacancy rate in the country, according to the Canada Mortgage and Housing Corporation (CMHC).

In its 2014 spring Rental Market Survey, CMHCputs the vacancy rate for Canmore at zero.

• Canada's Rental Vacancy Rate Remains Unchanged
• Canmore real estate sales rebounding

"Just trying to find something that's nice to live in for the price, but so far it's been really hard," said Emma Rogers.

She and her boyfriend have been commuting from Banff to work in Canmore.

Rogers said they check the rental notices every day, but there is little available and prices have skyrocketed.

"I've got a few friends that are looking for places as well and they've really struggled to find somewhere to live and end up sharing bedrooms and paying$600 for just a room," she said.

"You either have to talk to friends, have someone that you know or you're out of luck," saidShelley Urbanowicz, who works at a local pub.

Hot real estate market

Mark Walker, the owner ofPeka Professional Property Management, saidit's the worst rental market he hasseen in a decade.

"Normally we receive, on any given month, we receive 20 to 30 notices, especially in the summer. This month we've only received three," he said.

Walker said a hot real estate market is contributing to the rental problem. Many condo ownerswho had been renting outtheir units because they hadbeen unable to sell them are nowable to find buyers for the first time in four years, he said..

Hesaidthere are 50 approved applicants on the company's wait list for the 600 rental properties it owns.