Are you a Landlord looking after your own rental property? If so, watch out for the following common mistakes Landlords make. Mistakes Landlords Make Incomplete or improper paperwork. Make sure you complete a Tenancy Agreement with your new tenants before they move in. This details all the important information relating to the property, the rent, security and/or pet deposits, as well as who is responsible for what type of maintenance etc. If you have additional rules, make sure you attach a list of these as well so everyone knows what’s expected. Each tenant on the agreement, as well as the…
RE/MAX of Nanaimo Property Management, manages your real estate investments as if they were our our! Serving Ladysmith to Parksville. Finding quality renters for Nanaimo rentals and managing your real estate investments. There are few investments that have the long term income potential that real estate does. By merging a successful, globally recognized real estate brand like RE/MAX with property management we have the recipe for just that – long term income potential and increased ROI on your real estate investment. Nanaimo Property Management Your property will be cared for and managed carefully under our property management umbrella of specialists…
By now you’ve reviewed our Summary of Landlord Services. But let’s take a little more detailed look at some of what Property Management services for Landlords are available – from RE/MAX of Nanaimo Property Management that is! Property Management services for Landlords ADVERTISING. Our website is a great resource for tenants looking for a new home. If a property is available for rent, it is on our website, complete with a detailed write up and current photos. This advertising will also be shared on Craigslist, Kijiji, UsedNanaimo and on the RE/MAX of Nanaimo insider page for internal groups with 100+ members. We…
Previously, we looked at how to give proper notice to your Landlord that you are moving out. This posts focus is on a Landlord’s right to enter your rental home to inspect. Once you move into your rental home, you are entitled to peace and quiet enjoyment. That means the Landlord can’t just walk in unannounced, he can’t just “pop by” to make sure things are going okay and he can’t expect you to let him in without warning simply because he feels like checking the condition of the home. Rental entry conditions While the Landlord has a right to enter…
If you are already a landlord you know that looking after your investment and screening tenants can be extremely time-consuming and at times even disappointing. Everything could be great; the rent comes in on time, the house and yard look well-maintained and then your tenant gives notice to vacate. You post ads, re-word the advertisement, enter it on other websites trying to attract attention and still no one calls. You might even pay money to advertise in the newspaper. Is the rent negotiable? Screening tenants to find the right tenant can be a challenge. You may get questions such as, “Can…
Managing Broker, Guy Litton Guy Litton, Managing Broker on our team, was born in Vancouver, B.C. and moved to Victoria at about age 20. Guy’s first career was that of a meat cutter and manager of an “Olde Fashioned” style butcher shop where the fat little butcher behind the counter gets your daily meals, wrapping it in butcher paper and always giving the kids a wiener or pepperoni stick to keep them occupied while you chose your daily meat cuts. In 1976 Guy moved to Nanaimo and operated his own butcher shop at Beaufort Centre for a number of years….
B.C. Imposes Moratorium on Evictions These days there are so many questions around paying rent and evictions. Just this week Premier John Horgan announced protective measures imposed a moratorium on residential evictions and will provide renters with up to $500 per month for the next four months to meet rent payments. The B.C. government has taken these protective measures Wednesday amid the ongoing financial crunch of the novel coronavirus pandemic. “B.C. is suspending current and future evictions until this crisis has passed,” Horgan told reporters in Victoria. These rental rebates will be available April 1, 2020 and will be paid…
The Residential Tenancy Act is long and contains a lot of information. We can help you get to know your rights and obligations as a Tenant or as a real estate investor (Landlord). We’ve put together and series of articles pointing out a general overview for some of the Acts laws. For exact wording, legal interpretations or to find out about your own personal situation, please contact the Residential Tenancy Office or check their website at www.rto.gov.bc.ca. Residential Tenancy Act Ending Tenancy There are three main ways to end tenancy that a Landlord can use. Occasionally, a Landlord wants to…
If you’re a Landlord who’s decided to hire a professional Property Manager, do you really need a written Management Agreement? ABSOLUTELY. Management Agreements outline the terms of your agreement with the management company – how long they will be responsible for the property, what they will do, how much they’ll charge and so on. Some of the important things to look for are: When the agreement commences and ends and if there are any renewal clauses. Does it automatically renew until it’s cancelled? Under what circumstances can the agreement be terminated? How much will you pay them each month? Is…
Absolutely you can be a long distance Landlord! But how you achieve this successfully can be a bit more complex. Owning property in the Nanaimo area is a smart decision even if you don’t live here. Home prices are more affordable than in some other areas of the province and with the current exchange rate against the US dollar, now is a great time to make the leap if you’re an American looking for investment opportunities. Prices, while still affordable, have room to grow and your real estate investment will most likely continue to appreciate in value over the foreseeable…
