Managing Your Rental Property
Our services are divided into two main areas, the leasing of the property and the ongoing management. Listed below in greater detail are the services provided for the managing of your rental property. We are pleased to provide these services separately or combined.
For more information, see Leasing Your Rental Property.
Reviewing Mechanical Equipment in the Premises:
The mechanical equipment in your property is reviewed. Heating, hot water systems, fire safety devices, and appliances are all inspected. Model and serial numbers are recorded and filed in the event that future repairs are required.
Handling tenant relations:
Whether a simple request or a major problem we will respond quickly. Our management agreement mandates us to make decisions based on your best interest. Any major non-emergency problem or concerns will be discussed with you prior to taking action.
Collection and Placement of Rental Funds in a Trust Account:
As we operate under the Real Estate Services Act, all rental monies, by law, must be placed in a trust account. This trust account and is subject to an annual review and this review must be submitted to the Real Estate Council of British Columbia.
Vacancies are expensive for both of us. We make every effort to keep our vacancies to a minimum. Since our job is to keep your property occupied, management fees are not charged if your property is vacant.
Payment of Disbursements Authorized by Owner:
To simplify your accounting, we can pay property taxes, mortgages, maintenance fees, and utility accounts payments as authorized by you.
Providing Owners with Monthly Financial Statements:
Every month a detailed statement is forwarded to yourself showing rental receipts collected, management fees paid, any authorized disbursements made and the net amount that has been deposited into your bank account. Again, because of the requirements of the Real Estate Services Act all receipts and disbursements are maintained in our trust account ledgers for review. Copies of all invoices are also kept on file.
Arranging for any Maintenance and Repairs of the Property:
Our main goal is to protect your investment. We do this in a number of ways. Firstly, we try to anticipate problems before they happen. Preventative maintenance is the key. Our lease clearly states the responsibility of both the Owner and tenants in providing proper preventative maintenance to your property. If the tenants has not completed this requirement, then we will correct any problems at the tenant’s expense. Maintenance that is performed on your property is handled by independent contractors. They have been selected because of their ability to provide the best possible service at a competitive price. For major repairs and renovations we obtain written estimates, and notify you to obtain your approval before proceeding. We follow up on completed work to insure the work has been properly completed. Our management agreement clearly states a dollar value that we may spend and you reserve the right to schedule and control any or all repair and maintenance on your property if you desire.
Providing 24 hour Emergency Call Out:
Inevitably, despite following prudent maintenance procedures, emergencies do happen. Your property manager or his/her designate is on call 24 hours per day.