'RV pad' in Vancouver driveway renting for $850/month
An ad on Craigslist is offering prospective renters an "RV pad" for $850/month. (Image credit: Screen grab from Craigslist on Oct. 17, 2022)
An "RV Pad" in a residential neighbourhood in Vancouver is being advertised for rent at $850 per month.
The listing on Craigslist shows water, power, and sewer hookups and a space in a driveway behind a home.
An ad on Craigslist is offering prospective renters an "RV pad" for $850/month. (Image credit: Screen grab from Craigslist on Oct. 17, 2022)
"Want to save money and live cheaply?" it asks.
While utilities appear to be included, space is limited and will only work for an RV that is less than 24-feet long.
CTV News Vancouver asked the person who posted the ad for an interview about the listing, but the poster declined.
MORE PEOPLE LIVING IN VEHICLES
CTV News Vancouver has reported that dozens of people in campers, vans and cars are living out of their vehicles in a parking lot near one of the city's beaches. Those interviewed at Spanish Banks earlier this month all cited sky-high rents and limited housing options as the main reason why they have made the move.
However, the Vancouver Park Board has said they risk tickets and being towed at their own expense if they continued parking overnight. The fees for towing start at around $95 for a regular sized car and $165 for a large truck or trailer. Additional fees are added on depending on distance travelled and the amount of time the vehicle spends in impound.
CURRENT RENTAL RATES
According to rentals.ca, the average price for a one-bedroom in Vancouver rose to $2,590 in September – a 20.2 per cent increase compared to the same time last year.
One thing impacting rental prices in Vancouver and beyond is a hike in interest rates brought in to try to curb inflation, according to the report.
"Interest rate increases are damaging ownership affordability and keeping prospective buyers in the rental market," it reads.
"Secondly, a softening ownership market, with forecasts for further declines are keeping prospective buyers on the sidelines, waiting for the market to bottom out."
Another rental site, liv.rent, also reported that renters are spending more than half of their monthly income on housing, shelling out "a shocking 51.37 per cent" on housing. For housing to be considered affordable, the recommended income-to-rent ratio is no more than 30 per cent.
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