More renters in the Nicola Valley in the last several months has drastically reduced the number of rental vacancies in the city.
Royal LePage property manager Lynda Etchart said just a few months ago, Royal LePage had a list of rental vacancies reduced to just four, which she’s never seen before in her two years in Merritt.
Etchart said Royal LePage has seen about a 15 per cent increase in the number of available rentals between this year and last, but while the number of rental properties has increased, so has the number of renters.
The expansion project going on at the nearby Highland Valley Copper mine and BC Hydro’s new electrical line in Merritt have drawn in many workers looking to rent.
Etchart said she’s seen many people, including Highland Valley Copper workers, choose to live in Merritt over Kamloops because of affordability.
Etchart said she still receives about 10 rental applications per week, which is slowing down, but in her experience is still more than when she started working in Merritt two years ago. She said there have been times she’d receive 15 to 20 applications.
With winter on its way, Etchart said she expects to see fewer people looking to rent as people typically don’t like to move in the winter. However, Royal LePage is also expecting more applications from an influx of hydro workers in January, she said.
She said BC Hydro workers should still be renting in Merritt for at least the next year.
Although many of these renters working on local projects will eventually leave, the hope is their work expanding Merritt’s electrical power will create more jobs, and thus more people will move to Merritt, Etchart said.
Royal LePage managing broker Tom McDonagh said despite the increase in rental properties, the number of rental vacancies continues to be low.
McDonagh has been in Merritt for 37 years and told the Herald in the past, would-be businesses overlooked the city due to the lack of electrical power.
“I’m really excited about Merritt this coming year,” McDonagh said.
