Attracting high-quality tenants is essential for maintaining a profitable and well-managed rental property. High-quality tenants pay rent on time, take care of the property, and often stay longer, reducing turnover costs and vacancy periods. Effective marketing is the key to reaching and securing these desirable tenants. Here’s a comprehensive guide on the most effective marketing techniques to attract high-quality tenants to your rental properties. Understanding Your Ideal Tenant Before you begin your marketing efforts, it’s crucial to understand who your ideal tenant is. Consider the type of property you have and the kind of tenant it would attract. Are you targeting young…

This FAQ covers information on what decisions a rental property manager can be tasked to make on your behalf, how to work with tenants when you want to sell your property during the course of a lease, and what rights a tenant has when it comes to living in a property listed for sale. Tenancy usually means one of two things: being a tenant or being a landlord. Many more people are involved in tenancies including rental property managers, strata managers, and buyers of properties that are tenanted. Understanding how a tenancy agreement may affect you is key to being able…

Always take extra care with residential real estate transactions involving a tenancy. Failure to properly deal with tenancy issues or providing improper advice to your clients may result in a successful E&O claim being brought against you. Here are some important issues to keep in mind, plus practical tips to help you avoid claims when dealing with tenanted property. Acting for a seller Ask for a copy of the lease from the landlord/seller to confirm the tenancy details and to determine whether it is a fixed term or month-to-month tenancy. If it’s a fixed term lease, the tenancy does not end until…

When you, your tenant, or your rental owner decide to terminate a lease, it sets in motion a move-out process with several stages. Often, this can feel like a rush to the finish line because there’s so much your team has to get right in a short amount of time to avoid too many days of vacancy.  There are opportunities to make the process more efficient and get the next tenant lined up before the lease has even expired. And if you have several properties coming on the market at once, finding those efficiencies is key so you aren’t caught with…

Manufactured homes are an important source of affordable housing in BC, and real estate professionals have a crucial role to play in helping buyers and sellers of these homes find the housing that best meets their needs. But just because a manufactured home may cost less than a traditional home doesn’t mean the transaction deserves any less care and attention. In fact, transactions involving manufactured homes can be complex and may require specialized knowledge. One example of the expertise that a real estate professional should bring to a manufactured home transaction is when that home is on rented or leased land…

More of B.C.’s tenant-landlord dispute resolution process can now be done online, but a lawyer that helps people navigate the system says it still needs work. For the last two weeks, British Columbians have been able to upload evidence related to Residential Tenancy Branch (RTB) disputes, and already flaws in the system are apparent according to Marie Campbell with Access Probono. Key information is missing from the system’s Notice of Hearing function, and users can’t double check their submissions or see what adjudicators see online, she said. “You don’t see a copy of what you’ve filed. You can upload evidence online, but you…

 New online tools make it easier to address landlord-tenant disputes, but a Victoria-based lawyer says the system needs work. Global News More of B.C.’s tenant-landlord dispute resolution process can now be done online, but a lawyer that helps people navigate the system says it still needs work. For the last two weeks, British Columbians have been able to upload evidence related to Residential Tenancy Branch (RTB) disputes, and already flaws in the system are apparent according to Marie Campbell with Access Probono. Key information is missing from the system’s Notice of Hearing function, and users can’t double check their submissions or see what adjudicators…

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While many of us can't wait to say “buh bye” to 2020 there's no doubt the pandemic, and how the property management industry has had to adapt to ensure business growth and tenant safety, has altered what’s ahead in 2021. If you are looking to get ready for the upcoming year, here are 10 key trends we expect to see in the near future for property management companies: 1. The Customer is King The key to revenue is superior customers service. It helps tenants stay longer and delivers noticeable value to owners. Throughout the pandemic, management operations have had to shift how…

Eight months and counting, the Fraser Valley has set yet another record for monthly home sales in April, beating a streak previously set during the boom times of 2015-16. But there seems to be a new calmness in a real estate market that has recently been so hot that it’s drawn the worried attention of bank economists, credit analysts and national policy-makers. “We are still seeing multiple-offers situations, but instead, for example, of 10 to 20 ​offers, it’s sometimes only two or more offers that come in,” said John Corrie of Abbotsford, who’s been a real estate agent since 1967. There’s also been a slight…

It’s status quo on the country’s list of most expensive cities to rent. Despite seeing its rental prices drop, Vancouver still ranks No. 1, with Toronto a close second. The rental rates there and in many other cities have fallen, following from pandemic changes many residents made to their lifestyles. According to rental search site PadMapper.com’s March rent report for Canada, prices in Toronto and Vancouver as of March 2021 have hit four-year lows. Vancouver’s one-bedroom rent was at $1,900, down 13.6 per cent year over year, a low it hasn’t been at since March 2017, while Toronto’s one-bedroom rent was at $1,750,…

As open houses and presentation centers reopen with COVID-19 safety measures, developers wonder how the pandemic lockdown might affect the features that homebuyers look for and how the economic fallout will hit the real estate market. Benchmark housing prices released by the real estate industry held firm, and even nudged slightly higher, in May compared to a year earlier. But at least one major bank has joined Canada Mortgage Housing Corporation in predicting there will be price drops to come. “Pre-virus, a good chunk of the market buying condos were mom-and-pop investors.” Now, with the collapse of the short-term rental market and stalled immigration, there…

  But the pandemic and the subsequent ban on short-term rentals has led to such a sharp decline in the number of Airbnb bookings in major urban centres that those furnished units have migrated to the long-term rental market, according to data obtained by the Post from various condo rental sites and a real estate analytics company. “The 2020 numbers are for the first 12 days of June. The 2019 numbers are for the entire month of June 2019. So, as you can see, there has been an explosion of listings (on the long-term rental market) in the first 12 days this year…

The economic uncertainty surrounding COVID-19 has contributed to contradictory estimates of future housing prices and sales. Leading the bears is the Canada Mortgage Housing Corporation (CMHC), projecting average housing prices to fall by nine to 18 per cent. Others, including economists at the Canadian Real Estate Association (CREA), are not convinced prices will fall as steeply as the CMHC projects. Many homebuyers and sellers have been left perplexed by these conflicting forecasts — much can go wrong if they rely on the wrong estimates in their buy and sell decisions. Will real estate prices plunge? That may depend on the sellers Regardless of…

How long has it been since we began hearing these words every day: COVID-19, coronavirus, pandemic? How long before we try to forget them? Who knows – it could be awhile. But the new words will probably change us – change the way we live, play and work, and will possibly bring a more massive digital transformation closer to home sooner than predicted. Take housing, renting, and all that’s associated with the search, the transactions and the move. Post-COVID-19 could bring about some changes to enhance the process, making it more efficient, easier and maybe even more enjoyable. People are searching for rentals again,…

Given the rapid spread of COVID-19 throughout the country, and the lack of a suitable cure or vaccine to fight the pandemic, our safest option is to

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