All Forum Posts by: Rafael Valdor

Would love to hear your thoughts... What do you think about these?

1. [agreement] shall be for an indefinite term, subject to termination by the Owner. If the Owner wishes to
terminate the agreement during an existing tenancy the owner will be held liable for payment of
management fees for the duration of the existing lease as well as a $300 + GST cancelation
fee. If the tenant was placed by the Manager, and wishes to extend or renew their lease, and
the owner wishes to cancel this agreement to continue on with the existing tenant, there will be
a fee of $800 + GST. The Manager reserves the right to terminate this contract with thirty (30)
days written notice.

2. To collect all rents and other income from the Property and promptly and directly deposit such
rents in XXXX's Pooled Trust Account.

3. Should the Owner require the Manager to make unscheduled visits to the property
(insurance proposes) above and beyond the duties outlined in this Agreement, a fee of $75 +
GST will be charged per visit.

Thoughts?? Thanks in advance.

0 Votes

Calgary, Alberta

Quote from @Santhosh Nathan:

Hi Rafael, I reviewed your listing as well. Primary issue I see is being priced too high for the current market by a few hundred dollars. I know you mentioned other units are listed comparably but asking price is not the same as rented price. I’d revisit the pricing, happy to go over it on a phone call if you would prefer. I’m in Calgary as well :)

thank you @Santhosh, it appears that may be the case.

0 Votes

Calgary, Alberta

Quote from @Patricia Steiner:

I would recommend rewriting the narrative. Selling the convenience of the location first and in such detail may lead some renters to assume that there is something not so great about the house itself since the sale in on the location. Sell the home to whoever your target tenant will be - modern, sleek, urban, renovated, bright/spacious; then sell the location - not whether they have a bank account or need a 7/11 - just that it is located to 'dining, entertainment, shopping, more.' You want prospective tenants to come see it, walk it, imagine living there so don't get in the weeds on the details or offer photos that aren't great. I manage my own properties as do my clients; with the electronic resources for screening, rent collection, more - the ROI is greatly improved and you retain control of the property.

Hope this helps. It's a great property. But there are also 411 townhouses listed for rent on renterfaster.com so you'll need to elevate your listing to generate more serious candidates.

Best.

Never thought of that regarding the narrative, this is very helpful @Patricia!

What are your favorite electronic resources for screening?

0 Votes

Calgary, Alberta

Quote from @Anthony Therrien-Bernard:

Quote from @Rafael Valdor:

hi fellow investors,

I want to rent out my townhouse in Calgary, but haven't had much luck with it on Rentfaster and Zillow.

Just a couple of tire kickers so far.

I reached out to a few Realtors (just for tenant placement) and got crickets...

So I'm going to reach out to PM's next, but I was reluctant to do it since all I hear are horror stories.

Any suggestions for half decent PM's or realtors who specialize in residential leasing?

Cheers!

Hi Rafael,

Realtors don't typically do tenant placement in Calgary, I'd recommend working with a property manager instead (but as you eluded, there are a LOT of bad ones out there). How much are you trying to rent your townhouse for? Unless you have a really bad listing, changes are you are asking too much if you are not getting much interest on rentfaster. A property manager will take the workload off your shoulder but they likely won't get you a higher rent unless your listing is terrible.

Thanks @Anthony Therrien-Bernard, here's the listing: https://www.rentfaster.ca/596877
I've seen similar properties listed for 2.2K-2.6K.
Any red flags on my listing? Also, any recommended PM's in Calgary?

0 Votes

Calgary, Alberta

hi fellow investors,

I want to rent out my townhouse in Calgary, but haven't had much luck with it on Rentfaster and Zillow.

Just a couple of tire kickers so far.

I reached out to a few Realtors (just for tenant placement) and got crickets...

So I'm going to reach out to PM's next, but I was reluctant to do it since all I hear are horror stories.

Any suggestions for half decent PM's or realtors who specialize in residential leasing?

Cheers!

1 Vote

Calgary, Alberta

All Forum Posts by: Rafael Valdor

Rafael Valdor has started 2 posts and replied 5 times.

Post: Are there red flags in PM agreement?

Post: Renting out my townhouse: DIY vs. PM vs. Realtor

Post: Renting out my townhouse: DIY vs. PM vs. Realtor

Post: Renting out my townhouse: DIY vs. PM vs. Realtor

Post: Renting out my townhouse: DIY vs. PM vs. Realtor