Archives for April 2017

Why landlords don’t accept credit card payments

When you become a rental property owner, there are many new things to learn. From working with tenants to the upkeep of the property, there is a lot to cover. For most real estate investors, a property management team is hired to handle the daily work so that the investor can focus on their business. When you own a residential rental property, you will find that most landlords do not accept credit card payments for rent due to a number of factors. Find out why it’s smart to avoid credit card payments and accept only cash or checks for monthly… [Read More]

Can a landlord refuse to renew my lease?

In general, a landlord has the right to terminate a lease without giving a reason when the expiration of the lease term comes to pass. The landlord has no legal obligation to renew the lease or allow you to stay within the property for an extended period of time. Typically, a landlord will provide you with advance notice that the lease is up so that you can make arrangements to move out or to try and come to a new agreement with the landlord. Lease Agreement When becoming a tenant of a property, you will have to sign a lease… [Read More]

What to Look for in a Property Management Company

Finding the right property management company for your real estate investment can be tough. The decision making process should not be rushed, every company you consider should be assessed for credibility as well as performance. Research and interviews are a must to ensure that you separate the bad from the good companies. To help you protect your real estate investment and find the best management company for your needs, ask the following questions during the interview process. What is your policy on vacant properties or failure to collect rent of the property? This is a tough question. You need to… [Read More]

Looking for ways to improve tenant retention?

When you become a rental property investor, your number one goal is to retain great tenants. Once you find a tenant for your property that pays on time, keeps your property in great condition and gets along with neighbors, you want to keep them. But how do you retain tenants? What can you or your property management team do to ensure that quality tenants continue to rent your property? When losing a tenant, you will face certain costs such as advertising fees, credit check costs, maintenance and more. It is important to try and retain tenants so you can save… [Read More]

Property Management: Performing Tenant Screening

Investing in rental property means that you will be working with tenants, individuals who will be living or using your property for their business. Whether you have residential or commercial rental property, it is important to conduct thorough tenant screening to ensure that the individual or company you are working with will be a quality renter. You want your property to remain intact and undamaged as well as rent being paid on time. Prospective tenants should be willing to go through a screening process to ensure they are qualified to meet your renting criteria. You could do the screening process… [Read More]

Residential and Commercial Property Taxes Explained

When considering an investment in real estate, you may be debating between residential and commercial properties. There are benefits to investing in either category, so investing may come down to other factors such as taxes. In Canada, there are two types of property tax; land transfer tax and individual property taxes. It is important to get to know each type to find out how much you may owe for properties you are interested in investing in. Property Taxes in General In general, property taxes are based on where the property is located. The rate is set by the local government… [Read More]

What a Property Management Company Should Be Doing

When owning commercial or residential property for profit, you want to work with a quality property management company that offers you everything you need and more to be successful. But what features should you be offered by a management company? If you are a beginner to the real estate market, you may not know everything that comes along with rental properties as well as what to expect from a management team. Below are a few key characteristics you should expect to receive with property management services. Premium Accounting Your Waterloo property management company should be providing you with the best… [Read More]