Being a landlord brings many benefits but it also brings on many challenges and responsibilities. Property management is a demanding field to be involved in. In order to work effectively in the industry, it's important to understand your duties as a landlord.
One of the most difficult aspects of property management is navigating how to end a tenancy agreement. Tenants and landlords enter into an agreement with the intention that the tenancy will last a specific amount of time. But is possible to break a tenancy agreement early?
Many businesses have directed their marketing strategies to be compatible with highly visual experiences and have had great success using Instagram to draw more interest and customers. Property management is no exception. Here’s how to attract rental property leads using Instagram.
You may likely face a situation where one of your tenants is charged with a criminal activity. The severity and aftermath of the crime will differ depending on the tenant and their situation. This is one of the more complex situations in the property management field and it is important that you understand your rights as a landlord.
You may be unaware of the recently introduced and much stricter mortgage qualification rules. The Federal government has ordered these new rules in an attempt to begin stabilizing the Canadian real estate market and reduce the amount of debt Canadians (and our financial institutions) are burdened with.
Are you thinking about selling your home? With big changes anticipated for the housing market, you may want to reconsider and think about renting your space out instead! More and more potential buyers are unable to purchase a house with rising prices and increasingly strict mortgage regulations.
With housing and property prices constantly rising, renting is becoming an increasingly popular option for singles, couples, and families. Many members of the younger demographic prefer renting for its lack of permanency. Short-term leases are the perfect option for people who are not sure how long they’ll want to live in a specific location due to changing employment and relationships.
As of April 30th, 2018 it has become a legal obligation for most residential landlords to use a standardized lease agreement. According to the Financial Post, this 13-page document intends to “level a very unbalanced playing field for tenants and landlords, and close a gap in negotiating power between the two parties.” Here’s what you need to know
Taking high-quality images of a property has become a key aspect of property management. Few of us were born with a professional photographer’s eye, but a few tricks can make your photos and property stand out!
Time is a precious resource in property management, especially when you have a vacant property on your hands. You want to make sure to market your properties as efficiently as you can, generating top-quality leads to fill the spot quickly. Here’s how…
Social media is more than just an app on your phone or a way to stay in touch with friends and family, it is a powerful business tool. Property management as an industry has been around for a long time. To be successful you can’t just adapt, you have to lead the way. Today, that means embracing social media as a property management tool.
No matter how great a judge of character you are or how thorough you are when screening lease candidates, a landlord is bound to run across at least one bad tenant in their time. The best way to pursue any issue is with a calm demeanour, stay within legal parameters and get professional help if you need it.
Many landlords are worried about the adverse effects this legislation may have on condo laws and rental units. Not only are landlords worried about their tenants smoking marijuana more frequently and openly, they are also worried about the possibility of tenants growing it in their homes. To navigate these changes, it is important to truly understand them.
A critical component of the rental marketing process is to keep potential tenants interested in your property. This way, when space opens up you will already have a solid following of interested tenants. Here’s how:
Property management can be a demanding and stressful field of work. Tenants have high expectations and a diverse array of wants and needs. Using tenant surveys is an extremely valuable property management tool to gain feedback and more accurately gauge the needs and wants of your tenants.
From reflections of years past to new goals and ultimately, resolutions for improvement as we begin another New Year we are faced with change. The world of property management is certainly no exception, which is why the Condominium Authority of Ontario (CAO) has introduced new condo rules that have taken effect in 2018.
Prevent property damage this winter. Learn the top ways to keep your property and investment functioning its best through the colder months of winter.
Improving business processes are essential for property management companies to improve their operations and services.
When winter arrives, it can come aggressively and unexpectedly. Winter weather is unpredictable and snowfall is often heavy. If you are renting a place you may feel relieved you don’t have to deal with shovelling snow or salting walkways to maintain your property. But are you sure your property management company is responsible for snow removal?
Property management is about balancing the needs of different stakeholders. Tenants are a member of this agreement, and as property managers, it is your responsibility to make sure their needs are met thoroughly and efficiently.