Greater Victoria is an expensive real estate market, whether it’s buying or renting a property.
And so many people look for “helpers” to assist with paying that rent or mortgage, including getting a tenant for a basement suite or perhaps a roommate.
Now, one Oak Bay resident has gone a step further in maximizing the income potential of her home.
A Facebook Marketplace listing is offering a portion of her home to be rented out as “office space” while she is at work. The photo attached to the listing shows a home office set up next to a window offering plenty of light.
The space is being offered for rent for $450 a month for four days a week from Monday to Thursday and includes access to other parts of the apartment, including the bathroom, kitchen and an outdoor patio.
“Open to negotiating for less days per month,” said the listing. “This is not available for living in! Daytime Office Space Only! … Images show how space is currently (I use it as my own office/workout space) - but things will be reorganized/ removed etc. according to your needs (within reason). Your own desk will be provided. May also be able to provide extra external monitor if needed. This is an office space in my 2 bedroom apartment. You will have access to kitchen, fridge, washroom and outdoor patio.”
The apartment is close to the water in Oak Bay so the ad promises a “nice view and short walk to the ocean.”
“Hours available will be when I’m working away from home at my office job during weekdays. So you will have the space to yourself,” reads the listing.
Anyone renting the space will need to be OK with cats as one lives in the apartment.
This all comes as rents continue to rise across the country.
Average asking rents in Canada “hit new heights” with a month-over-month increase of 1.5%, bringing the average asking rent to $2,149, according to Rentals.ca and Urbanation’s latest National Rent Report.
“This represents a year-over-year growth of 11.1%, pushing the annual rate of rent inflation to a nine-month high,” said the report.
Victoria came in 12th on the list for average monthly rent in September for a one-bedroom at $2,121 and $2,906 for a two-bedroom.
While most major markets across Canada experienced rent increases, there are indications that the annual rate of rent growth may be slowing. Notably, Toronto saw a deceleration in rent growth last month, potentially signalling a broader trend as the economy cools and renters face mounting affordability constraints. This shift was also evident in the rise of rental activity for shared units.
“While rent inflation in Canada remained exceptionally strong in September, most major markets experienced a slower annual rate of rent growth compared to recent months,” said Shaun Hildebrand, president of Urbanation, in a news release. “This was particularly true in Toronto, where rents grew by their slowest pace in two years.”
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