Investing in property across Alberta? Magnum has you covered-3865

Investing in property across Alberta? Magnum has you covered

When a “nothing-special” bungalow recently sold to a Chinese university student for a million dollars in the north end of Toronto, people started taking a harder look at how foreign investment in Canada’s real estate market is affecting the market in general and their personal chances of obtaining reasonable access to affordable property in specific. Apartments and condos are being snapped up left and right in our cities, often by foreign investors, and the prices are being driven up in […]

Condo Board Vendors – What you Need to Know-3828

Condo Board Vendors – What you Need to Know

Since 1991, Magnum York has provided highly effective, professional real estate management services and rental property solutions to our clients throughout Alberta, with offices in Calgary, Red Deer, Olds, Fort McMurray and Edmonton. With properties worth in excess of two billion dollars under current management, our decades-long experience and proven Condo Management Programs have allowed Magnum York to become the Province’s largest independent property management firm.   So Much To Do When Managing Properties Effective condominium management requires consistent attention to detail […]

The Most Efficient Condo Boards of All Time Do This-3823

The Most Efficient Condo Boards of All Time Do This

A condominium is a community and, like all communities, some are run more smoothly and efficiently than others, and each is unique within itself. A condo is also a corporation and, like other corporations, is governed by a Board of Directors according to the corporation’s by-laws. In the case of condominiums here in Canada, governance is also required to conform to applicable provincial legislation. Proper property management can be an important factor in the ongoing health of a condo community, […]

Smart Decision Making: Five Tips for Condo Boards-3815

Smart Decision Making: Five Tips for Condo Boards

  It takes a unique individual to serve on the condo board. The kind of person who cares about the world around them and is willing to shoulder responsibility to make life better, not just for themselves, but for others as well. Along with the responsibilities comes the increased knowledge and ability to be proactive about making needed changes rather than just complaining. The following tips can help any board member regardless of their condo association size or how long […]

Resident Retention and Your Bottom Line-4086

Resident Retention and Your Bottom Line

There’s something we must admit: renting a condo unit is much different than actually Retaining the residents. It can be one of the most challenging aspects of rental property management. Why should you struggle to attract and retain high-quality tenants for a long time? Leaving aside all the time and effort you must spend to fill vacancies, securing a longer lease is more cost effective than finding new tenants every few months. Since finding and keeping good renters for an […]

fixed and variable mortgage rates housing alberta

Fixed Rate Mortgages vs. Variables

Fixed Rate Mortgages vs. Variables The improving economy suggests a fixed rate mortgage, rather than a variable mortgage. Normally for home buyers, it has been suggested to use the variable mortgage, for a more cost-effective investment. The Tables have turned this year and the low-interest rates may be coming to an end. To read more, click on the link below. http://canadaam.ctvnews.ca/finance/fixed-vs-variable-rate-mortgages-what-s-right-for-you-1.2264997

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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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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 […]