If you are on the road to becoming a successful landlord, then here are a few things that you should consider doing consistently to become a successful landlord: Run Your Property as a Business Don’t treat your property as your personal bank account, run it like a business with its own bank account, profit and loss and contingency funds. You…
6 Things You Should Not Do as a Landlord
16 Jan
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6 THINGS YOU SHOULD NOT DO AS A LANDLORD If you’re a new investment property owner you’ve probably realized, there’s a lot to learn! Here’s a list of things on the absolute do not do list… trust us, avoiding these things will save you lots of time and money. 1. Don’t Assume Your Property Will Always Be Rented Don’t…
First Time Landlord Tips
13 Jan
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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…
9 Reasons to Hire a Property Management Company
03 JanThere 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
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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 million…
How To Initiate An Inspection
09 NovIf you know how to initiate an inspection properly go ahead and watch the video! Before conducting an inspection to the rental property, it is a must that you follow some certain guidelines when initiating one. In this video, you’ll be reminded of the key things that you shouldn’t forget before conducting an inspection of the property. If you’ve noted…
Ultimate Guide to Tenant Screening
03 NovUltimate Guide to Tenant Screening Always remember that owning an income property is owning a small business. You always want to make sure that before you enter into a long-term contract with someone, you’ve already done your homework! This is the ultimate guide to tenant screening in BC. Review Application Further check on their application and find hints in the information they provide….
Big Mistakes Landlords Make Around Rent & Eviction
29 AugMoney and contracts are always tricky subjects. People often find themselves getting really uncomfortable whenever a potential financial or legal disagreement seems to be rearing up. And when you’re in the business of collecting rent, problems of getting paid and ending leases are bound to happen sooner or later. If you haven’t yet had any issues with any of your…
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