Archives for October 2017

The Things You Need To Know When Buying A Condo

If you’re thinking about downsizing from a house to a condominium, you should be aware that both have their advantages and disadvantages. The process itself is fairly straightforward; however, you need to be aware of certain considerations that go along with changing your residence. Whether it’s buying a condo or a house, things like your available budget, the condition, location, layout, size of the condo are all important elements when weighing your options, and particularly so when it comes to Waterloo property management. However, switching to the condominium lifestyle carries with it additional factors that aren’t present when looking to… [Read More]

Property Management: Qualities of Ideal Tenants

In order to make your life as a landlord as stress-free as possible, naturally, it is in your best interest to only rent to the best tenant possible, which is a typical concern especially when it comes to Waterloo property management. However, it is a given that there are no guarantees when it comes to the future quality of a tenant. Yet, there are several key factors that might help you decide what kind of tenant they’ll end up becoming. 1)    Being Able To Afford The Rent Or, in other words, their willingness to pay what is owed to you…. [Read More]

How to Effectively Pre-Screen Your Next Tenant

Many feel that the screening process of potential tenants starts with an application or a background check. However, this is not the case. The process actually starts with the initial contact, right after one has begun advertising for their property and has begun receiving calls. This process is known as “pre-screening” and is standard practice in property management, especially in and around Waterloo. Once again contrary to popular opinion, screening is a process that can take a long time; it is not a quick activity that serves an even quicker result. You don’t want to waste time on every single… [Read More]

How Property Management Offers Winter Protection

Winter brings about a plethora of problems not just for humans, but for nature, structures and all things man-made, including rental properties. Freezing damage in pipes is one example of what might happen if you don’t take care of your investment. You should understand that, regardless of the fact that you can’t control winter, there is plenty you can do to protect your property. 1. Make Sure To Cover Outside Appliances When talking about sheltering outside appliances from the ice and snow, it almost goes without saying that any external appliances, such as central air conditioners, for example, need to be… [Read More]

How Social Media Can Help You Attract Waterloo Renters

Waterloo Property Management: How Should You Advertise? Attracting renters in and around Waterloo can be a difficult task. Recent measures have made it harder for first-time buyers to enter the real estate market, and real estate prices are skyrocketing. Hunting for good tenants with great credit scores is tricky enough as it is, and all of this means it might be time to switch over to professional residential property management. Compared to any combined numbers for local and more traditional advertising methods, the fact of the matter is that more people use social media nowadays. This means it is much… [Read More]

How Latitude Can Help With Your Rental Property

Buying rental residential real estate for investment purposes is something more and more Canadians are doing. In most cases, such properties offer stable income that is enough to cover almost all expenses, not to mention a real estate asset that is likely to appreciate in the long term. However, at Latitude Property Management, we understand that becoming a first-time landlord carries numerous risks and a ton of stress. Hence, the assistance of a professional property manager offers not only protection but also peace of mind with regards to the long-term security of your investment. Why may you ask? Well, there… [Read More]

Why You Should Hire a Property Manager Before Choosing a Tenant

Regardless of whether or not you’re the type of person who looks for the best in people, if you also happen to be a landlord and are situated in Kitchener, it pays to be extra careful. Good property management and paying rent on time is something most residential (long-term) tenants accomplish easily. However, it’s important to do the proper research thoroughly and in advance, so that future tenants don’t turn out to be more trouble than they’re worth. For example, when advertising for tenants, it pays to state that you also do credit and background checks. In addition to receiving… [Read More]

Buying a Real Estate Rental Property with a Partner

Careful, not cynical Sometimes, when a warning is given to someone it’s regarded as being cynical! These sensitive souls when it all goes wrong for them, then can turn around and ask why they weren’t told! Being careful is always a requirement in any situation that combines money and personalities. This includes buying and investing, which can involve real estate property management. It’s not only a question of giving your money to someone, but in how well they will assist in managing it and making a profit! Think smart Going into a property partnership means you have to be smart,… [Read More]

Pros and Cons of Utility-included Rental Agreements

Renting and Utilities The case for a landlord or their tenant being responsible for the payment of utilities; it’s an issue that can rear its head at any time in relation to residential property management. Looking at it from the point of view of a landlord, one of their financial goals in leasing out a property is to maximize cash flow. Therefore, as there are positive and negative factors involved, the different options must be seriously considered before a formal agreement is completed. By including utilities in the monthly rate; within the sphere of the property management, it could prevent… [Read More]

Property Management: Should You Furnish Your Condo?

Condo Furnished vs Unfurnished Starting with what is generally the first thought for a property owner considering renting out their property, is the financial cost and return! If you’re a landlord, you to want the best return on your investment that you can get. Primarily, you will be looking at spending more money initially on furnishings, but this will depend on the type of furnished condo you are considering. In other words, where it’s located and what type of tenant can you expect! This is where you would be wise to seek some advice from a Kitchener property management service…. [Read More]