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…
Nanaimo Rentals and Property Management Posted COVID-19 Safety Plan December 1, 2020 COVID-19 could be introduced to our workplace from a number of sources including: Staff Delivery people and suppliers REALTORS Clients/Visitors/Guests Every person with exposure to outside elements has the potential to introduce COVID-19 into our workplace. Masks Mandatory in the offices – Due to an increase in the following: The Provincial Government has mandated a Health order requiring the use of masks in all public spaces. The number of Island and BC Covid-19 cases The amount of seasonal travel The number of out-of-town buyers coming into the offices…
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…
RE/MAX of Nanaimo Property Management Privacy Policy This is the Privacy Policy (the “Policy”) for REMAX of Nanaimo Property Management, providing information on properties in the areas we service in British Columbia. Your privacy is very important to us. The purpose of this Policy is to disclose what Personal Information (as defined below) and other information we may collect from you, how we may collect it, with whom we may share it, as well as the choices you have regarding our collection of information and our use and disclosure of that information to other parties. We may collect information through…
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…
If you’re a tenant, when is the best time to tell your Landlord you’re buying a house and are going to be moving out? Should you tell your Landlord you are moving? The short answer is – that depends. Tenancy Agreement First of all, if you have a fixed term tenancy agreement with a specific end date, you can’t end the tenancy before that date without being responsible for the rent if the Landlord can’t re-rent the place right away. Let your real estate agent know when your end date is and you may be able to work your purchase closing date…
Renting a home can be an eye opening experience. If you’re a Tenant considering renting a property, here are 5 mistakes Tenants make – that are easy to make and avoid! Mistakes Tenants Make Not knowing what your Tenancy Agreement says. If you listened to your parents growing up, you know never to sign anything you haven’t read. Make sure you go through the whole tenancy agreement before you sign it and clarify any areas of concern. Once you’ve signed it, it’s too late and you’re bound by the conditions in the agreement. Not getting copies of the Tenancy Agreement…
Part 3: Notice to End Tenancy Series Did you know a Landlord can end a tenancy by giving the Tenant two months notice to end Tenancy for Landlord use of the property? There’s only a handful of circumstances under which this can be done and as always, the Landlord should check with the Residential Tenancy Branch for details specific to their situation. When can a Landlord end Tenancy for Landlord use? The Landlord or a close family member of the Landlord (father, mother or child) is going to be moving into the rental property. This also applies to an individual (or their close…
The best part of working with our property management team is the trust that is fostered between landlords, investors and our professional managers. A great company culture encourages the formation of strong teams. We encourage and train our employees to go that extra mile to make customers happy. By developing motivated and engaged employees we get better results in both customer service and employee and owner retention. successful company culture leads to a successful business We’ve developed the type of organizational structure that allows all employees to have their ideas heard with a strong and consistent set of values. Happier workers are more…
Part 2: Notice to End Tenancy Series As a Landlord, what recourse do you have if your Tenant isn’t really holding up their end of the bargain? Under a few specific circumstances, you can end the tenancy by giving the Tenant a One Month Notice to End the Tenancy For Cause. 7 reasons that qualify as a Cause to issue a One Month Notice Repeated late payment of rent (the Residential Tenancy Office defines this as at least 3 times, and it should be over a relatively short period of time, for example 3 times in 6 months) Illegal activity that has or…
