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 […]
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 […]
The Alberta government is looking for feedback on some proposed changes to the condo act. The deadline for any feedback is April 2, 2013. Let’s Talk Condos
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 […]
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, […]
We are happy to announce that Heather has passed her Associate license exam. Congratulations Heather!!
This year I attended the CMHC Fall Rental Reports presentation of the housing and rental market in Calgary and Alberta. The presentations were very good with a lot of good information. The overall feeling from the presentations is Alberta is doing good and is going to continue to do good. The analysis were showing a small growth with lower vacancies through the province. I recommend any one involved with real estate to sign up for the bi-annual rental reports, it […]
I am very excited to announce that Magnum has entered into an agreement with All In One Property Management to take over management of majority of their portfolio of residential and commercial rental properties. The agreement becomes effective August 20th, 2011. About All In One Property Management. All In One is located in Blackfalds and has been serving Red Deer, Blackfalds and Lacombe for over 20 years.
Lately we have been a lot of calls from investors who would like us to manage their houses with secondary suites. We have no problems managing properties with basement suites as long as the suites following Alberta Building code. We don’t manage any secondary suites (any suite for the record) that doesn’t meet the code. The City of Calgary has put together two great brochures about what is required. City Of Calgary Getting started with secondary suites
I came across this article from Don Campbell, the President of the Real Estate Investment Network™, and Cutting Edge Research Inc. in Business Edge paper May 6 edition. It explains the future of the Alberta Real Estate market and the theory applies to every market in the world. You can find the article on the archive section (http://www.businessedge.ca/archives/archive-pdfs.cfm) of Business Edge, May 6, 2011 and on Page 23 of the PDF. Also a similar post from Don Campbell can be found […]