Are Property Managers Worth the Cost in Vancouver?

07 Jul

A financial analysis of why it’s worth the cost of hiring a property manager in Vancouver When you purchase your first income property, the first question that usually follows is whether or not to hire property managers. Often, a new property owner will consider if they have the time to manage the property on their own and weigh that against…

How To Create A More Stable Environment for Your Tenants

17 Apr

A landlord’s dream is to ensure that tenants are happy and stay in their rented space for the long haul. Therefore, it’s essential for landlords to create and implement a plan to retain tenants in their properties. Landlords will want to retain tenant’s stability, which is a tenant who stays in your property for four or more years. The worst-case…

9 Common Problems of a Landlord ( and How to Fix Them )

27 Mar

Venturing into the world of real estate is an attractive option for many reasons – why else would so many individuals decide to take the leap and make such a significant investment like this one? Having said that, despite the numerous reasons that make Real estate investment a desirable one, there are also several that can make it a truly…

Managing tenants with pets

14 Mar

Throughout the years, dog and pet owners have made notions of changing the tenancy laws in British Columbia. As a landlord, being fair is only compulsory but you do have the power to enforce restriction based on your preference. Last year, Jess Nelson, a dog owner in North Vancouver made an appeal to change British Columbia’s tenancy laws regarding tenants…

How Tenant Insurance Protect Your Renters

11 Feb

Now what if you have found the perfect tenant? What do you think are the top concerns of any tenants? Once you have finalized a deal with a new applicant, you’ve just completed the puzzle of your new investment, adding the tenant to your rental unit. Now let the cash flow! But just like with any business, you need to…

Landlord’s Insurance: What it is and why it is important?

03 Feb

Most rental property owners in British Columbia come across one impending question early on in the stages of their business: What is your most important concern as a landlord? For most rental property owners, the biggest concern would probably be about finding good tenants for their vacant units. But aside from that, you should be looking into a landlord insurance…

Pros and Cons of Including Utilities with Rent for Your Investment Property

02 Feb

The question of whether or not to include utilities in the rental price has been one that has landlords and property management companies going back and forth on for years. The trend seems to shift depending on what the rental market is doing at the time. In the 1990’s, with higher rental vacancy, the trend was to include utilities as…

4 Effective Ways To Market Your Rental Unit

27 Jan

Finding the ideal tenant is one thing that every landlord should aim for as well as keeping the vacancy rate low if not, at a complete zero. An ideal tenant would be a person who is responsible enough to pay the rent on time, considerate enough to avoid disturbing their neighbors, have no conflict with other people on the premises…

Important Things To Know Before Renting Your Property

20 Jan

When it comes to renting, both the tenants and the landlords have specific rights and they share responsibilities in order to make sure that the tenant is renting the right way and that the landlord is provided all that is needed. This is a way to avoid unwanted situations such as disputes or discrepancies in safety and violations of a…

First Time Landlord Tips

13 Jan

If you have the choice to own an asset, owning one that produces income is much better than owning an asset that expends income. If you own a house or apartment for your own residence, for example, you need to pay for maintenance, repairs, taxes, mortgage interest, landscaping, utilities, or strata fees that cover some of these expenses. On the…

The Expert Landlord Tips

06 Jan

Running a rental property is not as easy as it sounds. Landlords do more than maintain the place and collect the monthly rent. So here are some of the best practices from the experts in the business. You probably know by now that being a landlord can be extremely overwhelming. Just like with any business that has plenty of perks,…

The Best Indicators of Tenant Quality

03 Jan

Screening prospective tenants can involve so many different checks and balances. Interviewing, references, criminal court record search, and really anything you can do to get an idea of what sort of tenant a person is going to be. And of course, you have to be certain that you are not discriminating on race, religion, marital status, or sexual orientation…

9 Reasons to Hire a Property Management Company

03 Jan

There are plenty of reasons why hiring a property management company is a great solution to overcome the problems involved with running a rental property. Let’s take a look at the top 9: Quality Tenants: Companies in the field of property management know how to screen candidates for tenancy since they have seen thousands of applications. Rent…

Empty Home Tax : Implemented in Vancouver

30 Dec

With a home vacancy rate hovering at an unhealthy low of 0.6%, the Vancouver City Council has stepped in and introduced the Empty home tax which will be implemented from January 1, 2017. This tax is an additional 1% of property value on top of your regular property tax. That means if you have a property that’s worth $2…

Hiring a Property Management Company

23 Dec

Owning a property in Vancouver that produces income is pretty much an ideal way to make a living. Let’s take a look at this from a homeowner’s perspective. If you own a house, you need to pay for maintenance, repairs, taxes, mortgage interest, landscaping, utilities, or a homeowner association fee that covers some of these expenses. Yes, you do have…

Minimizing Tenant Turnover Expenses

15 Dec

 When you decide to manage all the day-in-day-out aspects that come with owning an investment property you will no doubt digest every bit of information you can find on getting the right tenants. How to screen them and check the details of their application. And ways to make sure you are kicking off a great landlord-tenant relationship. This is exactly…

Property Management: A Beginner’s Guide

05 Dec

Whether you’ve just purchased your first rental property or you’re thinking about investing in real estate, we have some tips to help you along the way. Make a Plan Do you want to rent an entire property to one applicant or rent each room separately? Do you want to lease short-term or long-term? Will your properties be furnished or unfurnished?…

The Things You Need Your Tenants to Know

01 Dec

When you decide to invest in an income property there is often a learning curve involved and usually, most new investors will go about attacking that curve with gusto! It’s a new and exciting adventure and most folks who decide to get into real estate, develop an instant passion for it. Of course, the same cannot be said for tenants….

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