Rental tenants have quite a search on their hands in Summerland.

Realtor Bill Mortensen of Royal LePage said the rental housing market in town is seasonal, and there is not usually much available. A unit that becomes vacant is easy to rent, said Mortensen. He noted that potential renters were lined up almost immediately.

The difficulty, he said, is trying to find tenants who can afford the lofty rental prices for the few available houses or condominiums. An average 30-year-old house is renting anywhere from $1,000 to $1,500 per month.

“The problem is, most of the people looking in the area are people looking for $600 to $800 a month,” said Mortensen.

He added that it is more difficult to find tenants for any available properties during the fall season, as most people who have children look to relocate during the summer months when school is not in session.

Condominiums are another option for people looking for a place to rent in Summerland. Mortensen said a few units have come available in existing buildings. He pointed out that some owners who have not had success selling their units are now turning to a search for tenants, but the asking price makes their search difficult.

He noted that when the selling price for the units ranges from $475,000 to $1.5 million, owners seeking tenants usually need rental payments from $1,500 to $3,000 a month to keep up with the mortgage.

“They’re hard to rent out.”

Mortensen said whether people find success in the local rental housing market depends both on what they want, and what their budget will allow. One common factor he sees is that close to 50 per cent of landlords do not want pets in their buildings.

“A good 75 per cent or more of people walking into the building have a pet.”

He pointed out that there is no age group more or less likely to have pets.

The renters who face the most difficult hurdles, said Mortensen, are young couples. He noted that even if a young person in their early 20s holds down a good job and is looking for a place to rent, their search will not be easy. Many buildings only accept tenants who are 55 or older.

“It makes it very difficult for them.”

More inventory and availability in other nearby towns drive some to live elsewhere, but some people still try to live in Summerland.

“What I’ve found with Summerland is basement suites are quite popular,” said Mortensen. “Instead of taking a whole house, they’ll take a basement suite.”

Moving into the basement carries a drop in rental prices with the smaller living space. Mortensen said the suites will come up periodically, but are less likely to in the fall with fewer people seeking rental spaces. He noted that with job losses across the Okanagan, many young adults are choosing to move back in with their parents, find a cheap place, or share rent with a couple of friends. Even this method has its drawbacks.

“Would an owner rent to three young guys with good jobs, or a couple?”

Mortensen said he connects potential renters with property owners, but the owner decides who they are comfortable having as a tenant. He pointed out that his few units coming available are all higher-end properties. Mortensen noted the lack of low-income housing in Summerland in the form of family-oriented apartments.

“We don’t have that because of the cost of land, the cost of building.”

Mortensen pointed out there is more profit from the developer’s point of view in catering to the middle-aged and empty nesters, who are able to invest more in the real estate market.