Calgary’s Real Estate Market in the Long Term
Nov. 1, 2020 - Written by Jamie Palmer
While the realist and the optimist argued about whether the glass was half empty or half full, the opportunist drank the water. I am frequently asked by clients “what do I think the long term prospects for Calgary’s Real Estate Market are?”
In the short term, two-to-three years, Calgary is in for a rough ride. There is no avoiding it, our downtown commercial office space has a 25-30% vacancy rate. There are continued layoffs in the oil and gas sector, most recently the merger between Cenovus and Husky is expected to result in a 25% reduction in their workforce, adding to Calgary’s 12.6% unemployment rate. World wide demand for oil is expected to remain below normal due to the pandemic. Gathering and travel restrictions are putting extreme pressure on the hospitality and tourism industries. We have a federal government that if not openly hostile to our primary industry, is at least not supportive of it. And finally, we are at the end of the mortgage deferrals offered by most major banks. The above will make a housing recovery in the short term unlikely for the following reasons: 1) when facing financial uncertainty people do not make major purchases like houses. 2) One in five mortgages was deferred in Alberta, a significant proportion of those will likely not be able to resume making payments and will fall into foreclosure. 3) The pandemic has caused people to use up personal savings and this combined with high unemployment/underemployment makes it difficult for buyers to qualify for mortgages.
But what happens four to five years from now? Can Calgary bounce back? Are we destined to be the next Detroit, a failed one industry city with a hollowed out downtown, or are we the next Boulder Colorado, a destination city with a diversified economy where people come to live for the exceptional and affordable quality of life?
I would argue the latter. Calgary consistently ranks among the top places in the world to live, we have a young well educated population, we are a key logistics hub, and we are among the most affordable places to live in Canada in terms of percentage of income required to own a house (35% compared to Toronto 64.5% and Vancouver 74.7%).
With some of the lowest income and corporate tax rates in Canada, a well educated workforce, and thanks to the above mentioned commercial vacancy rate, Calgary is an attractive place for businesses to set-up shop. As a result, in spite of the pandemic, there have been several recent announcements of technology companies investing in Calgary, Suncor is relocating the head office of Petro Canada to Calgary, many of Calgary’s biggest oil and gas companies are transitioning to become “energy” companies as they shift capital to investments in wind and solar power, and there is a surge in demand for natural gas (as more wind and solar projects are built, you need natural gas plants to provide back-up power for when there is no wind/sun). None of the above are in the near-term, these investments likely won’t bear fruit for several years, but they are laying the foundation for what will be a significant recovery for Calgary.
So in the next two to three years with house prices depressed, a continued demand for rental properties, and record low interest rates there lies a lot of opportunity to accumulate real estate. Will you sit and debate how good or bad things might get, or will you take this opportunity and drink the glass of water?
Written By
Jamie Palmer
President/Broker of Power Properties Ltd.
Jamie Palmer is the President and Broker of Power Properties. He holds a Certified Property Manager (CPM®) designation, the highest designation in Property Management in North America. He earned an Honors degree from the University of Toronto, and he has over two decades of experience in property management.
Power Properties was established in 1980, and is a member of the Canadian Real Estate Association, the Real Estate Institute of Canada, and the Calgary Residential Rental Association. They currently manage over a quarter billion dollars in residential real estate and collect over one million dollars in rent each month.
Winter emergencies rarely start as big problems, they often begin with a small issue that could have been caught earlier. A furnace that has not been serviced, an aging hot water tank, a minor plumbing leak, or a forgotten exterior hose can quickly become an expensive problem once Alberta’s freezing temperatures arrive. A little preparation this fall can help protect the property, keep tenants comfortable, and make repair costs far more predictable. Read the full article to see the complete fall maintenance checklist and what to take care of before winter arrives.
Edmonton’s rental market is evolving in 2026. Explore the technology, regulatory changes, pricing trends, maintenance tools, and tenant expectations shaping property management across the city.
A smooth rental turnover is more than a clean-up between tenants, it is your opportunity to protect your property, reduce vacancy days and start the next tenancy with confidence. From inspections and deposit documentation to repairs, pricing and tenant screening, every step matters. Read the full article for a practical Alberta landlord turnover checklist.
Alberta has no rent-control cap, but rent increases must still follow strict rules around notice, timing, and documentation. Learn how to set a fair, market-informed rent increase, avoid costly compliance mistakes, and communicate it in a way that helps retain reliable tenants. Read the full article for the complete guide.
Professional property management is more than a monthly expense, it's a long-term investment that protects and grows the value of your rental property. From reducing vacancy and attracting qualified tenants to ensuring legal compliance, proactive maintenance, and consistent rent collection, experienced property managers help landlords maximize returns while minimizing costly risks. Over time, these benefits often outweigh management fees, creating stronger cash flow, higher occupancy, and greater peace of mind.
Calgary's evolving rental market requires landlords to do more than simply post a listing and wait for inquiries. This article explains how professional property managers consistently reduce vacancy periods by combining strategic marketing, accurate market-based pricing, rapid communication, and structured tenant screening. Rather than relying on luck or timing, a systematic leasing approach attracts higher-quality applicants, minimizes costly vacancies, and protects long-term rental income.
Maximizing rental income isn't just about charging higher rent, it's about making smarter decisions that improve your property's overall performance. Discover practical strategies for Alberta landlords to reduce vacancies, retain great tenants, invest in high-ROI upgrades, control operating costs, and adapt to seasonal market trends.
Becoming a landlord in Alberta takes more than finding a tenant. From understanding local rental rules and preparing the property, to pricing it correctly, screening applicants, handling security deposits, and planning maintenance, every step matters when protecting your investment. This guide breaks down the essentials new landlords in Calgary, Edmonton, and across Alberta should know before handing over the keys.
A strong rental listing does more than advertise a vacant unit — it helps attract qualified tenants while filtering out poor-fit applicants before they ever apply. This guide explains how Edmonton and Calgary landlords can write clearer listings, use better photos, choose the right platforms, price strategically, and pre-screen inquiries to reduce vacancy time and find better tenants faster.
Professional property managers consistently fill vacancies faster and secure better tenants by combining strategic marketing, accurate pricing, rapid communication, and thorough screening processes. From professional listing photography to multi-platform advertising and comprehensive tenant verification, every step is designed to reduce vacancy time, protect rental income, and minimize risk. Discover how the right leasing system can help you attract higher-quality tenants, reduce costly vacancies, and maximize your property's long-term performance.
Choosing between a percentage-based and flat rate property management fee is about more than monthly cost. For Calgary landlords, the fee structure can influence your manager's incentives, the rent your property achieves, and your long-term return on investment. This article compares both models, explains where each works best, and outlines the key questions to ask before hiring a property manager.
Managing a rental in Calgary or Edmonton can look simple, until vacancies, tenant issues, maintenance, and legal details start piling up. This article breaks down when self-management works, when professional property management makes more sense, and how the right support can protect your time, reduce risk, and improve long-term returns.
Calgary's resale market softened in April, with 2,104 sales recorded — down 5.7% from last year. But for rental property owners, a quieter sales market doesn't mean a quieter rental market. We break down what the April numbers actually mean for your investment, by property type, and what to watch heading into the spring leasing season.
Managing a Calgary rental property takes more than collecting rent. This article breaks down the hidden workload landlords face, from tenant screening and maintenance to compliance, reporting, and time-consuming day-to-day responsibilities.
Many Calgary investors switch to professional property management when self-management starts limiting portfolio growth. This article explains how professional management helps reduce operational stress, improve tenant quality, protect income, lower legal risk, and give investors more time to focus on acquisitions, financing, and long-term strategy
This article explains how professional property management in Calgary helps landlords turn rental properties into a more stable and truly passive income source by handling tenant management, maintenance, vacancies, pricing, and day-to-day operations more efficiently.
Learn the 5 key steps to real estate investing, from choosing the right investment property to analyzing rental income and managing it for long term success.
Self-managing rental property in Calgary can quickly lead to costly legal issues, from invalid evictions to deposit disputes and compliance mistakes under Alberta law. Even small errors can have serious financial consequences, making proper procedures and documentation critical. Read the full article to learn how to avoid these risks and protect your investment.
Tax season doesn’t have to be stressful for rental property owners if you know where to look and what to prepare. Power Properties provides a complete annual statement that consolidates your rental income, expenses, and net figures in one place, making tax filing much easier. Staying organized and aware of important deadlines, especially for non-residents, helps you avoid last-minute panic and unnecessary costs.
Most landlords assume property management is simply about collecting rent, but in reality, it covers the full operational lifecycle of a rental, from tenant acquisition and legal compliance to maintenance, inspections, financial reporting, and long-term investment strategy. Read the full article to understand how each part works together and what it means for your property’s long-term success.
All the nitty-gritty details and requirements about security deposits. PLUS learn how to make sure you get your security deposit back in full from any landlord.
Self-managing a Calgary rental property works, until it doesn't. If you're constantly stressed, stretched too thin to grow, or unsure whether you're even handling things legally, those aren't just inconveniences. They're signs that the self-management model has hit its ceiling. This article walks through the seven most telling signals that it's time to bring in a professional property manager in Calgary, and why making that move is one of the smartest decisions a landlord can make.
Problem tenants don't have to be inevitable, with the right systems in place, most rental headaches are entirely preventable. This guide breaks down how professional property management in Calgary protects landlords at every stage of the tenant lifecycle, from rigorous screening and legally sound lease agreements to active tenancy oversight and navigating Alberta's eviction process.
One of the key functions you hire Power Properties for is tenant screening, but how do we do this? All of our tenants go through a rigorous three-stage, review, before being approved as a tenant. AI, the Property Manager’s Assistant and the Property Manager all play a role in evaluating the suitability of our tenants.
Many Calgary landlords begin by self-managing to save money, only to face costly tenant issues, legal mistakes, and unexpected time demands that eat into their returns. The real risks often appear after the damage is done. Read the full article to discover what most landlords in Calgary learn too late and how to protect your rental investment properly.
Property management companies have a variety of fee structures, but there are some standard fees you can expect.
Jamie Palmer
Written by Jamie Palmer, President/Broker of Power Properties Ltd.
Jamie Palmer is the President and Broker of Power Properties. He holds a Certified Property Manager (CPM®) designation, the highest designation in Property Management in North America. He earned an Honors degree from the University of Toronto, and he has over 2 decades of experience in property management.
About Power Properties Ltd.
Founded in 1980, Power Properties has been providing hassle-free property management services to property owners, property investors and non-residents with homes in Calgary, Edmonton, Lethbridge and Medicine Hat for over 45 years. Our full-service property management includes everything from move in to move out, so you don’t have to worry about the day-to-day operations of your rental property. With a team of licensed professionals, years of experience, and award-winning service, you can rest assured that your property is in good hands.