Fewer spots available at seniors’ residences

CMHC survey of retirement spaces finds city vacancy rate falls to 7.1%

The vacancy rate for seniors’ residences across Alberta dropped in 2014, according to the Canada Mortgage and Housing Corp.

The average vacancy rate for a standard retirement space in Alberta was 8.5 per cent in 2014, down from 10.2 per cent in 2013, the national housing agency said Thursday.

In the Edmonton census metropolitan area, the vacancy rate decreased to 7.1 per cent in 2014 from 7.3 per cent in 2013.

The Calgary region saw vacancy drop to 4.8 per cent this year, down from 7.5 per cent a year earlier.

The vacancy rate in the remainder of the province declined to 16.1 per cent in 2014, from 18.5 per cent in 2013.

CMHC surveys seniors’ rental units including retirement and assisted-living buildings but not nursing homes or long-term care facilities. The survey covered 10,463 retirement spaces in 2014, up three per cent from 10,160 in 2013. They were spread across 96 residences and included 10,629 residents.

“This type of market is a little different than the traditional rental market because these units often include things like meals or other bonus services and they tend to run at a little bit higher vacancy rate and the average rents are typically quite a bit higher than the traditional rental market,” said Christina Butchart, senior market analyst for CMHC Edmonton.

For all bedroom types, the average rental rate for a standard space in Alberta was $2,826 per month in 2014, compared to $2,798 in 2013.

Average monthly rent in Edmonton for all bedroom types was $2,402 in Edmonton, compared to $3,460 in Calgary and $2,544 in the rest of Alberta.

Some of the services and amenities offered include meal plans, on-site medical services, housekeeping, laundry and recreational programs.

The most common amenity in Alberta was a 24-hour call bell, found in 95 per cent of structures surveyed, followed by an exercise facility in 89 per cent of the buildings.