Property Management
As your professional property manager, we do more for you than just collecting the rent. We use our knowledge, experience and expertise to help you navigate through the complexities of:
• Owner and tenant responsibilities and the Residential Tenancies Act
• New and upcoming changes to the Residential Tenancies Act
• Legislation at the provincial and municipal levels for Zoning, Building Codes, By-law and Fire Prevention
• Contract law and tenancy agreements
• Serving proper notices to tenants
• Hearings with the Residential Tenancies Branch and the Residential Tenancies Commission
• Identifying liability and doing our best to protect you from future litigation
• Rent increase legislation, rent registration and protecting you from illegal rent increases
• Rent increase above guideline programs
• Market conditions, current market rents, trends and accurately assessing your property to maximize your investment
• Actively pursuing programs and plans to save you money, such as our Group Insurance Plan (resulting in massive discounts through bulk purchasing)
• Acting as a buffer between owner and tenants: the tenant will never have to know your name, your personal home address or phone number
REAL ESTATE FEES
Real estate agent fees are typically between 4 to 6%. This rate varies depending on the type of marketing package you select with your realtor. This amount is further split between the buyers' and sellers' brokerages and the individual sales people involved.
LAWYERS' FEES
- Lawyers' fees typical run from $700-$1,000 for sellers. It is important to have a Real Estate Lawyer picked out before you list your home.
CAPITAL GAINS TAX
- Residential homes are typically excluded from paying capital gains but if they are investment properties or have been used for businesses they may be subject to capital gains. If you are concerned in any way that you are going to be subjected to capital gains tax, we recommend that you talk to your accountant.
MOVING EXPENSES
- Moving expenses range from the price of a pizza and a case of beer for your friends and relatives to between 1000 to $2000 for a bonded and insured moving company.
BREAKING A MORTGAGE
- Typically penalties for breaking a mortgage are three months of interest payments but they vary depending on individual mortgages. Be aware if you get a home improvement loan added to your mortgage you may have to pay back a portion of this to break the mortgage.
STAGING
- Staging can be done by the property owner, the realtor or a professional home stager. In some situations staging can increase the sale price by as much as 20%. Your realtor can explain more about how to stage your house yourself and in many cases will help you. They can also recommend professional stagers should you want to bring in the pros.
