We advertise our properties all over the internet appealing to young professionals and families. Our ads of your property are located on the leading rental platforms including but not limited to MLS, Kijiji, Craigslist, and View It.
We ensure maximum exposure to as many different sites as possible as to not rule out any worthwhile prospective tenant.
How long it takes to find a new tenant depends on whether a property is vacant, tenant occupied or owner occupied. It also depends on the location, condition and rental price. From the time that the advertisements have been posted, a tenant is usually found within 30 days. However, some rentals may take up 60 days to lease based on a variety of factors. On average though, we lease properties within 30 days.
Typically, the speed at which your property will rent depends on 3 important variables. These consist of your property's location, the price and the current condition of your property. Assuming that you have a desirable property in a good location and that is priced at fair market value, we should be able to find a great tenant relatively quickly.
Depending on whether a prospective tenant has provided all of the supporting documentation that we request, our turn around time to process and screen a tenant is typically 2-3 business days. We set this expectation so that tenants and owners alike understand that verifying references is a time consuming and cumbersome process. We want to ensure that all references and documents are checked. We would rather spend the extra time before a prospective tenant becomes a legal tenant and avoid a larger problem once the tenant has taken occupancy. The law requires that the owner and/or the owners agent do as much due diligence as they can because once a tenant has taken occupancy of the unit, it is more difficult to have them removed.
The amount of rent that your property can command is based on a wide array of variables, including demand for location, condition of property, supply and demand, curb appeal, comparables in the area, etc. Market analysis is conducted by our team to determine fair market value based specifically on your home. We will always discuss the rental price with you prior to making any decisions.
The simple answer to this question is no. We understand that many of you are eager to learn how much rental income your property can generate. We also understand that you will have expenses associated with the operation of your property that need to be covered in order for it to make financial sense. With that said, without physically looking at the property, we will not be able to give you an exact opinion on rental price. Sometimes, based on descriptions that you provide, we may be able to give you a range, however, without seeing the property first, it is difficult to give you an exact amount.
Absolutely not. In fact, you will become more aware of the things that are taking place and how they are being handled. Our robust property management software allows us to keep you in the loop in real time and will provide you with all of the information you need regarding your rental property when you need it. You will have the final say when it boils down to everything.
We do not offer internal insurance policies to our clients. However, we strongly recommend contacting your insurance broker to inform them of the transition to a rental property. Some insurance brokers will not insure your property if it is converted to a rental property. If this is the case, we can put you in touch with our insurance adviser on a no obligation basis and they will be able to find the right policy for your situation.
Most of our leases start on the first of the month. As such, it takes us some time to clear the tenants funds. As such, our clients receive their payments by the 15th day of each month.
Collecting your own rent when you hire our company to manage your property only serves to complicate matters. Our accounting software ties into our property management software so that we can ensure that we are on top of all rental payments made by tenants. When owners want to start collecting rent in their own accounts, it takes away from the accuracy of our reporting and therefore makes managing your unit and staying on top of things more difficult. As such, we must collect the rent for the properties we manage.
We process payments through direct deposit into the bank account of your choice. Simply complete and return the direct deposit form that you are provided upon signing up with our company and leave the rest to us.
Owner statements provide you with an accurate snapshot of how your property is performing. Our statements are posted once a month and you will be notified that they are ready via email. We will also post your year end statements at the end of every annum.
Your statements are stored in chronological order in your portal. Simply sign into your account from anywhere in the world and click on the statement you need.
Statements provide a detailed breakdown of money in and money out. Rental income is usually the only source of income for many of our clients. Expenses will be broken down by category and then subtotaled. You will also see the net income on each report. If there are any closing or opening balances, these will also be reflected in your statement.
Any time that a tenant submits a maintenance request, it will be logged in detail in your portal. You will be able to see who made the request, the urgency or the request, the description and location of the request and the status of the request. Our system will automatically notify you by email that a maintenance request has been received by your tenants. We will then prepare estimates and send for your review.
We send estimates to you directly prior to any work commencing. Once approved, we will schedule the work.