25th June

Vacancy in seniors’ homes climbs to 17.4%

by admin | Posted in Community, Latest News   No Comments »

The vacancy rate in Ottawa seniors’ residences climbed to 17.4 per cent in 2010, according to recent data from Canada Mortgage and Housing Corp.

That’s an increase of 5.8 percentage points over last year and is higher than both the provincial and national average.

In Ontario, the vacancy rate climbed to 14.9 per cent in 2010, compared to 12.5 per cent a year earlier. Across the country, the vacancy rate is 11.6 per cent, up from 9.9 per cent.

The vacancy figure is for units where occupants pay market rents and do not receive more than 1.5 hours of daily care.

Ottawa has a total of 5,489 of these “standard spaces.”

CMHC says the vacancy rates for seniors’ residences is typically higher than the those in traditional rental markets because of higher rents and more frequent turnover.

In Ottawa, the average monthly rent for a unit in a seniors’ residence where meals are included is $2,822, according to CMHC

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