Some of the most common question we receive from property owners.
PM secures tenants with credit reports, reference checks, background checks, employment verification and are knowledge and understanding in what to look for in a tenant.
For the most part, the market determines the rental rates obtainable. The condition of your property also affects the obtainable rent. In most scenarios, the Property Manager collects a percentage of the rent so we would like to maximize the price as much as our clients do. The market is also affected from time to time by waning demand, over-supply, seasonal fluctuations, and timing.
Yes, you can raise the rent subject to the law which requires three months notice which must be properly served before the end of the month preceding the month in which notice begins. For example, if you wish to raise the rent for May 1, you would have to serve notice before the end of January. Rent can typically only be raised once per year subject to the maximum prescribed rate established by the RTO.
Do your homework first! Costs are considerably higher in maintaining a seasonal rental. There may be more repair and maintenance due to heavier use. Management
Concisely, the landlord is responsible for ensuring that the premises and the land meet health, safety and other standards established by local, provincial, and federal law. The property must be reasonably suitable for occupation subject nature and location. Inclusions in the tenancy, such as appliances, should be kept in working order and properly insulated. Rental rates should also be kept in equilibrium with the local market.
No matter how much care and attention to detail is exercised, it is impossible to guarantee the actions of a tenant. Tenants are interviewed, references are checked, and credit reports are obtained. While most tenants come and go without incident, a tenant may try to sneak in a pet, smoke indoors, pay rent late, cause damage, or skip. We drive by properties in our day-to-day travels and offer property inspections in performance of our due diligence. Certain properties and certain neighbourhoods may be prone to more problems than others but the potential of the occasional problem of varying magnitude is a risk that comes with the territory.
Yes, in most cases you can. The split is typically anywhere from 50:50 to 30:70 and should be negotiated during the creation of the tenancy agreement. It can be extremely difficult to renegotiate utility splits when one or more tenants are not agreeable.
Notice, if verbal or by hand-delivery is deemed received immediately. If notice is posted at the property or mailed by regular mail, notices are deemed to be received after 3 days. If mailed by registered mail, notice is deemed to be received after 5 days.
Certainly. Your Property Manager must give a minimum of 24 hours notice to the tenant unless a recognized emergency is at hand.
APM will access your property's value with our knowledge of the current rental market and do this at no cost.
Example tasks our team performs on an average day:
A selection of helpful websites not managed by Associated Property Management.
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