All Forum Posts by: Chris Walters

Hi @Felix Renaud   Try proprioexpert.ca this one is adapted for quebec real estate. Let me know what you think

That’s exactly the point where I am at because he’s continuously late even up to now. The rent is coming in but he is always a few days late and avoiding all calls and messages. But i send him registered letters with legal threats and it seems to be working. My ultimate plan is to get him out but the owner is hesistant because of the entire cost required around it. I still am pushing for it because at the end of the day, getting that tenant out will bring more income with the next tenant and I will be able to do a proper screening.

Hi everyone,

 So this is a case where ai started managing a property where some tenants were already months late on rent. One of the tenants finally found a way to start making payments after enough legal pressure was applied. The tenant is making partial online transfers and should be up to date by this coming wednesday after making a small payment to cover the remaining part of november. My question to you is the following: would you cash-in the partial payments or wait until all the payments are made in order to cash-in everything at once?

Also, if anyone is from the Montreal or Quebec region please send me a private message because I might have some additional questions.

Thanks

Hi everyone,

Does anyone own a property management company or has been working for one in Montreal or Quebec for that matter and who can guide me in terms of starting a company, the ins and outs, useful apps for different purposes, etc.

Thanks

Only managing it

@Account Closed Thanks for all the great recommendations. It is greatly appreciated. I ended up going with Quickbooks Online. 

Do any of you have any recommendations for property management software or apps?  

Hi everyone,

I need some help regarding things I should either setup or look out for when taking on managing a fully rented property.

The owner asked me to draft a property management contract so that I can start managing the property as soon as possible. Are there any books or templates I can aquire to have a good idea what points to include?

Also, what would be the next steps in order to have a smooth transition and to have everything go smoothly for at least the next 12 months after I start managing the property?

Thanks for all your advice!

Hi everyone,

I am located in Canada (Quebec) and on the verge of managing a rental property of 3 units. I am trying to setup everything. Among the various things is a property management app that is adapted to local laws, will permit to create leases, list properties for rent and more. If anyone have a list of software or apps to recommend, it will be greatly appreciated.

thanks,

Chris

@Bryan Lee Hi Bryan and welxome to Montreal :) Hope you arr enjoying the recent cold weather and especially tomorrow’s cold one :)

Firstly, I would chexk out the comparatives in order to know how much similar appartments as his are rented for, then seehow much time you think that it would take you to pay him off.

Secondly, find out whether or not he owns the triplex outright, because if he does, you can offer seller financing. The advantage for him will be that he will be paying less in taxes because he will be getting smaller amounts every year compared to one big amount this year. The downside for him is if he needs the money right away he won’thave access to it all, but you can always remind him that he will be making some extra money in interest than if you were to get financed by the bank. The only thing is that you will have to find the money to pay the agent his/her money upfront, because I strongly doubt they will want partial commission payments.

Thirdly, I am not a fan of letting a seller live in the same property they sell because there might still be that emotional attachment. But judge based on the way he his. If he’s a nice guy and simply want to live a simple quiet life where he is, then it might be a good situation.