find answers to questions that guide you through the first
We can often rent a desirable home that is well priced in 2-4 weeks. It will likely never go vacant under our care.
The fee for our service is 10% of the gross rental income + GST. Fees are deducted from rent.
There is a onetime Startup Fee of $500 which includes bringing you on as a new client and the finding and placement of the first tenant. We usually take it off your first month’s payment.
There is a $200 + GST New Tenant Fee for removing a tenant and placing a new one at the end of a lease term. This does not usually apply to break-of-lease situations.
Lease renewals are performed at no charge.
There is a $39 + GST charge on each invoice from a supplier, contractor, or till receipt generated on your behalf.
If you live outside Canada there will be non resident fees, usually of $295 per year.
We have maintained an unparalleled record on what is now 160 properties and we have not had a single vacancy since 2021.
We typically use email. This gives us a written, archived, search-able trail. Sometimes we communicate by text or phone call for expediency, but usually add email for the written record.
We can refer you to our preferred real estate professionals that can sell your property. Our people know how to work with tenants. This is incredibly important as we have had 6 clients in the past few years who have had to pull their home off the market because the real estate professional they chose could not work with their tenants.
We recommend that if you want to sell, the best time to do that is within three months of the end of the lease. Tenants cannot be forced to leave in a fixed lease but we may be able to convince them or entice them to leave so you can sell. Each situation is unique.
We pay on or about the 10th of every month that the unit is occupied.
We specialize in long term, unfurnished rentals only.
Minor issues: Our contracts give us authority under $200. We often obtain a photo of the problem, any model number tags, and we send the appropriate tech. If the tech can fix it while there, we get them to go ahead as that's the cheapest option.
Major issues: We will have the tech give us a quote and get your approval.
Emergencies: If we, at our discretion, determine an emergency, we will notify you, but we are authorized by contract to deal with emergencies to lessen or prevent damage to the home and keep tenants safe.
You are responsible for maintaining your mortgage, property taxes, condominium and homeowner association fees, and insurance. We also need you to approve maintenance items, and refrain from contacting tenants directly.
Houses/town houses/duplexes where tenants pay all utilities: we make tenants prove they have gas and electricity in their name prior to move in. We have town utility bills placed in our name and send them to tenants to pay the town directly.
Houses with legal suites in basements – 60/40 split: utility bills will stay in your name. You can forward them to us. We arrange payment by tenants and reimburse you.
Apartments and other units where heat and water are included: we make tenants prove they have electricity in their name prior to move in
Most of the time we take the $500 + GST from your first month's rent.
Yes, within a few days of the payment.
Please make sure to forward your mail to your new address. We instruct all tenants to write, “moved” on any mail that is not theirs and put it in a Canada Post mail slot.
Yes, there may be a small fee to do so.
If that is the case, legally you must tell us. You would then fall under the category of a Non-Resident according to Canada Revenue Agency. Non-Resident tax is beyond the scope of this FAQ. Please contact us if you are, or plan to leave Canada.
No. We renew existing tenants at no extra charge to you.
When we must change over a tenant at the end of their lease. The fee covers advertising, showing, and placing the new tenant, as well as removing the past tenant and appropriately disbursing the security deposit.
No. If we take an extra Pet Deposit, it must be non-refundable, which usually scares off tenants.
We meet tenants at the showing (sometimes they are virtual) where we ask them leading questions. We do credit checks, which are indispensable, and landlord/employer references.
We don't allow owners and tenants to communicate directly. One of our roles is to insulate you from tenants, and we can’t do that for you if the tenants feel they have a direct line to you.
Contacting a tenant directly is considered interference between the property manager and a tenant and constitutes breach of contract.
No, according to Canada's Charter of Rights and Freedoms, as well as privacy laws.
For houses, duplexes, and town houses where there is no condominium corporation, the tenant is responsible for basic lawn maintenance and snow removal.
For those with a condominium corporation, like apartments and some town houses, that entity is usually responsible for snow removal and lawn maintenance.
All our units and outbuildings are currently non-smoking, regardless of the substance. Currently we cannot deny tenants the right to smoke outside, nor could we ever police it. Some buildings have a no smoking policy regarding balconies or in outside common areas.
The tenant must give us a security deposit of one month’s rent, which we are required to hold in a trust account. This can be used for damages, cleaning, rent, and utilities AFTER the tenant has moved out.
We always do fixed term leases, which protects you and provides increased stability. Most leases are one year, but we may massage that to have the lease end at a more favorable time for finding a new one if they leave.
We can only raise rent once per calendar year, and never in the middle of a lease.
About 7 weeks before end of the lease we ask you if you want to rent for another term. If so, we tell the tenant the new rate and find out if they’re staying. If so we sign a lease renewal at no charge to you. If the tenant is leaving, we begin to advertise the property about 5- 6 weeks before the end of lease to find a new tenant.
We have created a superior system of dealing with this. In every break of lease situation for the last four years our clients have received continuous rent. And we charge tenants a break of lease fee, so the New Tenant Fee does not apply to you in this case.
Yes, though we do yearly inspections. Please understand that if you go to the home and meet the tenants, it is much harder for us to insulate you from them if they have issues.
We can often rent a desirable home that is well priced in 2-4 weeks. It will likely never go vacant under our care.
Eviction is almost never necessary for us. We have found that we get better results for our clients by working with tenants to extract rent, and if that’s not working, we get them to ‘move on’ so we can find a better tenant. Think of it as a soft eviction.
We have a cleaning regime that tenants must complete to our satisfaction, and we require they have the carpets professionally carpet cleaned. There is almost never any cost to you.
The tenants cannot be forced to leave on a fixed term contract, but sometimes they can be encouraged to leave with a cash payout.
We refer clients to one of two realtors in the area. Both have been living and selling in Cochrane for 20+ years. We chose them for their sales record and ability to work with clients. This latter component is of paramount importance: in 2021 and 2022, FIVE clients who chose their own realtor had to take their home off the market because their chosen realtor couldn’t work with the tenants. Our realtors get the sale without such issues.
Yes, we can provide a copy of leases for lenders.
We are constantly monitoring the local market to determine what it will bear, and do our best to set rents as high as possible, unless you ask us to keep them lower.
We can hold back the funds from the security deposit to pay you for rent owing, and if necessary, cover cleaning/repairs. The remainder belongs to the tenants, and we have to return it within 10 days.
While actual damage is quite rare, it’s more common for tenants to cause wear and tear to a home. Picture hanger holes, worn flooring, dead lawn spots from an approved dog, marks on walls (not gouges), and we cannot deduct from a tenant to repair or upgrade them. This should be considered a normal cost of the business of owning rental property.
