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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 […]

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Secondary Suites in Calgary

  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

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MAGNUM Releases New Rental Management Program for Individual Investors

MAGNUM Releases New Rental Management Program I am excited to announce the new Property Investment Management (PIM) Program.  Though we quietly released the program in October 2010, we have been working out the kinks in our processes.  We thank those early adopters for working with us during that time. Though Magnum has been managing rental pools for over 20 years, we have not accepted individual investors.  In the past 18 months we have been overwhelmed with requests to manage properties […]