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Protect Your Investments

  Keeping your insurance up to date and making sure you have the correct coverage can sometimes seem like an endless task. It is one of those things you might keep thinking about and pushing it off until the next day, but that needs to stop.  Alberta summers bring all sorts of crazy weather, from Flash Floods to Tornados and everything in between… Now is the time to check your coverage, make sure you are completely covered and your premiums […]

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Rental Discrimination

  Lately there has been a lot of talk about rental discrimination from Landlords. I thought this might be an interesting subject to touch on seeing as we have hundreds of applications come through our office every year. We can take pride in being able to say we do not discriminate when choosing a tenant. Some of you may be wondering what exactly is discrimination…? Simply put, discrimination is treating people differently for one reason or another, usually based on […]

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Rent Ready VS Sale Ready

  Recently we have been working with a lot our long term owners on preparing their properties for sale.  I keep having the same conversation over and over so I thought it might be time to blog about it. My owners are shocked to hear that their realtor is telling them that before selling they need to replace carpet, appliances and paint the whole place.  This is usually when I get an upset owner yelling at me that I didn’t […]

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Vacancies Updated Automatically

  Back in November 2011, we switched account software from Yardi Genesis to Rent Manager.  Rent Manager had many features we were very excited about but too many to implement immediately.  The features around the website especially the web portal was especially exciting.  We implemented the web portal within months of moving to Rent Manager, it was a common request from our owners and I think it is the feature we get the most comments on.  If you are one […]

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Owners stay over 10 years

  The best job for our owners they possible can and I think the owners can see that.  It really shows when I see that on average our owners stay with us for over 10 years and 17% of our owners have been with Magnum for over 25 years.  That is the same year that Calgary hosted the Winter Olympics. How many companies are you still doing business with for over 25 years?  Let alone how many businesses are still […]

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Tenants Stay With us for Over Three Years

Magnum York Tenants Stay With us for Over Three Years A potential client contacted us and asked a variety of questions most of which are pretty standard but she asked one question we haven’t heard before.  How long do the tenants rent from you?  We knew we had some really long term tenants but what was the average, no one knew. With the help of our property management software we were able to pull data from 2006 to current.  Province […]

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The Importance of Market Rent

  When should you lower your rent and get the property rented and when should you hold out and get the better rent. To answer this question, I have put together a simple example that is loosely based on a unit that we currently manage.  The owner came to us wanting his unit rented immediately as he hasn’t been able to rent his unit on his own and the bills were growing.  He wanted $2500 per month to cover his […]

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Zero Vacancies in Calgary, Red Deer and Fort McMurray

  I have been seeing in the news that Alberta is doing better and the economy is growing.  During a conference hosted by the CMHC (http://www.cmhc-schl.gc.ca/) in December, they discuss how they predict that Alberta will grow in 2012 and the coming years.  At the time of conference I was seeing some improvement but not anything too exciting until recently.  Magnum at the end of March had no vacancies in Calgary, Red Deer and Fort McMurray.  In Edmonton we have […]

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Minimum Housing Standards

  Our policy for any property under management has been and will always be “Would you allow your family to live in the property?”.  It might sound simple but we turn down a lot of properties when the owner isn’t willing to fix up the property to this basic standard. Recently we came across a formal set of standards that support our rule.  The standards are from Alberta Health. http://www.health.alberta.ca/documents/Standards-Housing-Minimum.pdf Though these standards seem very basic for most of our owners, […]