This year has served as a good reminder. 2019 has been one of high tenant turnover, and managing rental properties has been time-consuming. Almost every rental property we manage has had a transition from one tenant to the next, which reminded me of just how vital a low tenant turnover rate is for landlords’ bottom…
Every buyer or real estate investor wants a motivated seller because it often results in getting a pretty good deal on the property… however, it’s not always easy to spot a motivated seller, at least not before negotiations begin. Over the years, I’ve figured out ways to find motivated sellers that I want to share…
2017 has been a year of renovations for our rental properties. We’ve acquired two new units and renovated five. And we’ve had tenant turnover like never before. In all but one of our suites, our tenants have changed. But that kind of turnover creates the opportunity to update your units if needed – silver lining….
As a landlord managing several investment properties, I’ve always advocated for, when needed, renovating your rental property with high-end finishings. What I mean by that is where there are laminate countertops, replace with granite. Linoleum in a bathroom, replace with tile, and where there are old appliances with that sexy yellowish tint, replace with stainless…
A mixture of rain and hail was pelting the ground as Calgary was hit with the worst summer storm I’ve ever seen. It had been raining hard for a week, and this storm was the climax of it all. Thankfully, the family and I planned to leave for a week to Vancouver to see the…
Ah, the tenant selection process… it’s where you are made or played as a landlord. Almost your entire success as a landlord hinges upon selecting the right tenant for your rental property. I just went through the process again this July for one of my properties and let me tell you, I met some interesting…
Your office space… It needs to be perfect, for you. It should inspire and be a place you enjoy going to. It should empower. The sunlight that comes in through the window, the pictures on the wall, it all matters. You need to customize your office so it is the right environment to perform at…
Ask the kitchen staff of a fine restaurant who eats better, them or the patrons… same goes for car dealers; often the clients drive better cars than the sales staff. Hotels too – guests sleep in nicer suites than the workers live. At the end of the day, if you want loyal customers, provide them…
A tenant is a landlord’s business partner, and they should be treated accordingly. This means they should be shown respect, but also held accountable. Essentially, they are watching over one of your most expensive assets – therefor it is imperative your relationship with them is tight, and both parties must understand their value and responsibilities….