Buying an investment property can be one of the most exciting and financially rewarding ventures you embark on especially when doing it with family. Pooling resources, sharing responsibilities, and building a legacy together can strengthen familial bonds while building wealth. However, it also brings unique challenges. Decision-making dynamics shift when family members become business partners, and expectations must be clearly defined to avoid misunderstandings down the road. Whether you're eyeing a rental property, a vacation home, or a long-term investment for capital appreciation, it's vital to align your goals and strategies. Family can offer trust and stability, but without the right…

Renters have plenty of choices when searching for a home, so property owners must ensure their rentals stand out. Tenants look for move-in-ready properties and offer features that make daily life easier. An attractive rental doesn’t just help you find tenants faster—it also encourages long-term leases and reduces turnover. Whether you own a single rental unit or multiple properties, making strategic enhancements will help you attract responsible tenants who appreciate a well-maintained home and also make their moving-in easier and less stressful. In this article, you will find out how to make your rental property more attractive to tenants. What…

Alt. text: Gray color book near green eraser Property renovation is an essential part of maintaining and increasing the value of a rental property. As a landlord, knowing when to invest in upgrades can be the key to attracting high-quality tenants and maximizing rental income. While not every renovation will offer a strong return on investment, strategic improvements can significantly enhance the appeal and functionality of a property. Additionally, renovations can help reduce ongoing maintenance costs and prevent minor issues from becoming costly repairs. Evaluating the Current Condition of the Property Before committing to any renovation, it's important to assess the current state…

Owning rental property can be profitable, but managing it can become overwhelming. Handling everything alone takes time and effort, from tenant issues to maintenance requests. It may be time to hire a property manager if you struggle with rent collection, legal compliance, or repairs. A property manager handles daily operations, so you don’t have to. They handle tenant communication, enforce lease agreements, and resolve maintenance issues quickly. If managing your properties is stressful, professional help can make a big difference. Here, we’ll discuss key signs that indicate it’s time to bring in a property manager. If any of these apply to…

Renting out a property is a popular and lucrative way to generate income, but deciding whether you want to start furnishing rentals can be challenging. As a landlord, providing furniture in your rental property has its own advantages and drawbacks. Understanding these can help you make a more informed decision tailored to your target tenants' goals and preferences. Understanding Furnished Rentals Furnished rentals typically include essential furniture items like beds, sofas, dining tables, and sometimes appliances such as a refrigerator or washing machine. These rentals are more common in urban areas, where tenants may be looking for temporary housing or a convenient…

Living in a small rental can feel limiting, but you can turn it into a functional and comfortable space with thoughtful planning. Maximizing space isn’t just about organization; it’s about creating a home that works for your lifestyle. This guide will walk you through practical tips to help you make the most of every inch of your rental while keeping it visually appealing and clutter-free. Embrace Multi-Functional Furniture One of the easiest ways to maximize space is by choosing multi-functional furniture. Items like sofa beds, storage ottomans, and foldable tables serve dual purposes: saving space while maintaining utility. A sofa bed, for…

Welcoming tenants warmly sets the tone for a positive landlord-tenant relationship. Creating a tenant welcome package demonstrates thoughtfulness and care, leaving a lasting first impression. A warm welcome fosters trust and shows tenants you value their comfort and experience. This effort often leads to stronger, long-term relationships, as tenants are more likely to feel respected and appreciated. First impressions carry significant weight. A well-thought-out welcome package can make tenants feel at ease, ensuring they start their tenancy on a positive note. This attention to detail reflects your professionalism as a landlord and signals that you prioritize tenant satisfaction. In turn,…

Moving is challenging for anyone, and tenants are no exception. Relocating from one home to another requires coordination, planning, and time, which can easily become stressful. But, as a landlord or property manager, there are steps you can take to make moving less stressful for new arrivals and attract high-quality tenants in the process. Communicate Early and Set Clear Expectations One of the best ways to make moving less stressful for tenants is by maintaining open communication. Early communication helps tenants know what to expect and reduces last-minute surprises. You'll foster a smoother transition by giving them a clear understanding of moving…

When considering the benefits of offering amenities in residential properties, it’s essential to consider the added value these features can bring. A well-chosen amenity can transform a simple living space into a sought-after residence. Understanding this impact can significantly boost your success in the real estate market if you're a property owner. Partnering with a reputable property management company in Burnaby ensures these amenities are well-maintained and aligned with the latest market demands. Attracting and Retaining Tenants Is The First Step Today's renters look for more than just a place to live; they seek a lifestyle. Amenities such as in-unit laundry, fitness…

As a property owner, you've probably encountered a difficult tenant or two—maybe someone who’s always late on rent causes frequent disturbances, or just doesn't take care of your property the way they should. It’s frustrating, right? However, knowing how to handle difficult tenants professionally and legally can make all the difference in keeping your rental business running smoothly. In this guide, we’ll go over some straightforward strategies to help you deal with challenging renters without the headaches while staying within your legal rights. Identifying Difficult Tenants and Knowing When to Take Action Before jumping into solutions, it’s important to recognize when you're…

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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