Libertas - I`ve had my moments with them but in the end I think they have a good attitude especially Tyler. Perhaps the process needs a little bit of improvement as issues sometimes need to be initiated more than once before getting addressed. Maybe right now the PMs just jot down to-do notes on a piece of paper but with the new web based system they are building now hopfully all issues will be tracked and alerted to the PMs and never get lost. Again, the attitude is great, they handle tenant and property problems well, I`ve never had to deal with the tenants(they proactively saved me from a burst pipe once), and issues(which are minor) always eventually get resolved.
Edmonton Property Management. Who Sucks and Who Rocks?
- Thread starter GSI
- Start date
I used realty corp-was a tad bit painful- switched to Braden -they only do multi family- they are doing a great job for me-he is a tough task master and an old goat-but did my renos, turned my property around and stabilized it
Does he follow the REIN system- not his instructions to his caretakes are simple
Keep the builidng rented
Collect the rents
Keep it clean
Does he follow the REIN system- not his instructions to his caretakes are simple
Keep the builidng rented
Collect the rents
Keep it clean
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- Sep 2, 2007
- Messages
- 25
QUOTE (navaz @ Feb 18 2009, 05:01 AM) I used realty corp-was a tad bit painful- switched to Braden -they only do multi family- they are doing a great job for me-he is a tough task master and an old goat-but did my renos, turned my property around and stabilized it
Does he follow the REIN system- not his instructions to his caretakes are simple
Keep the builidng rented
Collect the rents
Keep it clean
Navaz,
I agree with the realtycorp comments...I am looking for someone with more specialty in multi-family in Edmonton. Especially with finding company tenants for furnished suites.
If you don`t mind what`s the contact for Braden?
Cheers,
Marcel Greaux
Greaux Investments
C: 647 280-4454
Does he follow the REIN system- not his instructions to his caretakes are simple
Keep the builidng rented
Collect the rents
Keep it clean
Navaz,
I agree with the realtycorp comments...I am looking for someone with more specialty in multi-family in Edmonton. Especially with finding company tenants for furnished suites.
If you don`t mind what`s the contact for Braden?
Cheers,
Marcel Greaux
Greaux Investments
C: 647 280-4454
- Joined
- Sep 15, 2007
- Messages
- 34
QUOTE (ChrisDavies @ Feb 2 2009, 04:45 PM)
I had fun working at Davies Management, and I think they do a pretty good job, but maybe I'm biased.
I did vote for a couple other firms there who I think do a good job.
And it's Davies with an 'e'.
Davies started managing my new purchases one year ago. They did such a great job I switched all of my properties to them last July. Switching to Davies Management is the best decision I made for managing my portfolio. They answer any questions or concerns I have usually the same or next day. I am also getting market to above market rents as well as better tenants.
I had fun working at Davies Management, and I think they do a pretty good job, but maybe I'm biased.
I did vote for a couple other firms there who I think do a good job.
And it's Davies with an 'e'.
Davies started managing my new purchases one year ago. They did such a great job I switched all of my properties to them last July. Switching to Davies Management is the best decision I made for managing my portfolio. They answer any questions or concerns I have usually the same or next day. I am also getting market to above market rents as well as better tenants.
QUOTE (ssteckler @ Feb 27 2009, 12:59 AM) Davies started managing my new purchases one year ago. They did such a great job I switched all of my properties to them last July. Switching to Davies Management is the best decision I made for managing my portfolio. They answer any questions or concerns I have usually the same or next day. I am also getting market to above market rents as well as better tenants.
Cant someone put a poll like this together for Hamilton, ON property management companies ....?
Cant someone put a poll like this together for Hamilton, ON property management companies ....?
- Joined
- Aug 30, 2007
- Messages
- 17
I just moved on from Libertas...... My experience with them was NOT great. Maybe I was just jinxed with them but there were a lot of mistakes made that cost me $$. The rent up was slow because of errors in advertising links, slow to get photos and virtual tours up on the website, repairs were not done in a timely manner - My tenants went almost 3 months with an oven that was not working properly. The monthly diaries are a great idea but when you get November`s diary in January - that is not very helpful especially when there were issues that I should have been aware of. Sometimes the rent was not deposited into my account until the 30th of the month. They did non-emergency repairs to the exterior of my townhouse that should have been the Condo Boards`s responsiblilty but I had to pay for them. The staff was always polite but when I had a trip to Edmonton and requested an inspection of my property over a week in advance - the ball was dropped and no arrangements were made so the trip was wasted. I think Libertas` heart may be in the right place but I certainly have had more competant property managers (but not in Edmonton!)
- Joined
- Feb 18, 2008
- Messages
- 1,284
I think there`s a chance here to come up with some creative and constructive recommendations for property managers, and to give REIN members and investors a more realistic view of how things work from the Property Managers` side.
Here`s a couple things I`ve experienced on the PM side of the coin (my opinions only, and no reflection on Davies Management):
1. Rent comes in around the 1st. Bills get paid during the month. Net cashflow gets distributed to the owners near the end of the month or shortly into the next month. This happens because when you manage over a thousand properties, we can`t pay for your repairs out of our cashflow.
2. PM`s do understand cashflow, but (for good property managers) our first concern is keeping the tenants (your customers) happy, stable and paying rent. This means fixing stuff when it needs to be fixed, and your idea of cashflow comes second. This is the best long term way to run your buildings, and it`s based on long experience.
Anyone else have thoughts? Business best-practices?
Here`s a couple things I`ve experienced on the PM side of the coin (my opinions only, and no reflection on Davies Management):
1. Rent comes in around the 1st. Bills get paid during the month. Net cashflow gets distributed to the owners near the end of the month or shortly into the next month. This happens because when you manage over a thousand properties, we can`t pay for your repairs out of our cashflow.
2. PM`s do understand cashflow, but (for good property managers) our first concern is keeping the tenants (your customers) happy, stable and paying rent. This means fixing stuff when it needs to be fixed, and your idea of cashflow comes second. This is the best long term way to run your buildings, and it`s based on long experience.
Anyone else have thoughts? Business best-practices?
The WORST property management company has to be "Larlyn Property Management". 3 of out 5 times I called it went to general voice mail that is FULL. They changed their PM like it is out of style. I believe they don`t do single family. They do, however, manage multi-family building. BUT PLEASE, DO NOT USE THEM.
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- Aug 30, 2007
- Messages
- 17
Most Property Managers ask for a deposit of $300 up to $1000 from the owner to keep on account for repairs. I can`t figure why they need to take the repairs out of the current months rent when they have that deposit in their bank account. They can `replenish` that $300 out of the next months rent and still give me my rent earlier in the month. I had a PM (not in Edmonton) that always had the rent in my account by the 10th of the current month. I thought that was reasonable.
- Joined
- Aug 30, 2007
- Messages
- 200
Here are a couple of simple ideas for landlords and property managers:
How To Keep Your Property Manager Productive
Link source: NuWire Investor (http://www.nuwireinvestor.com)
Keep the comments coming!
How To Keep Your Property Manager Productive
Link source: NuWire Investor (http://www.nuwireinvestor.com)
Keep the comments coming!
- Joined
- Sep 1, 2007
- Messages
- 3
QUOTE (GSI @ Feb 1 2009, 09:53 PM) On our REIN MYSPACE forum we talk a lot about which residential property managers are good and bad, as well as ways to improve self-managing.
2) Kirkside Realty
I wish I saw this thread before. I`ve been dealing with Kirkside (who were recommended to me from REIN members) and all I can say to sum up my experience with them is FRUSTRATION. They are unprofessional and ineffective. I have a unit that has been sitting vacant for 7 months. They rarely return my calls (Carolyn Flexhaug) so I have to hound them to get any type of response. I haven`t even received a statement since November.
Needless to say I`m going to serve notice to cancel our agreement and find another property manager.
2) Kirkside Realty
I wish I saw this thread before. I`ve been dealing with Kirkside (who were recommended to me from REIN members) and all I can say to sum up my experience with them is FRUSTRATION. They are unprofessional and ineffective. I have a unit that has been sitting vacant for 7 months. They rarely return my calls (Carolyn Flexhaug) so I have to hound them to get any type of response. I haven`t even received a statement since November.
Needless to say I`m going to serve notice to cancel our agreement and find another property manager.
QUOTE (apoorvdwivedi @ Mar 12 2009, 06:25 PM) I wish I saw this thread before. I`ve been dealing with Kirkside (who were recommended to me from REIN members) and all I can say to sum up my experience with them is FRUSTRATION. They are unprofessional and ineffective. I have a unit that has been sitting vacant for 7 months. They rarely return my calls (Carolyn Flexhaug) so I have to hound them to get any type of response. I haven`t even received a statement since November.
Needless to say I`m going to serve notice to cancel our agreement and find another property manager.
Thanks for the thread, it`s very helpful. Yes, I`ve also been with KIRKSIDE for the past eight months and it was a horrific experience. I have been wanting to switch to another management company, but hung around hoping that all problems will be solved. However, one after another(it just doesn`t end): utilities issues, tenants not paying rent, can never get a hold of PM, statements are always late and unclear. Plainly putting it, they are just incompetent. After reading this thread and realizing that other members are having problems with Kirkside definitely make me realize that it`s not just my bad luck. Time to fire them!
Needless to say I`m going to serve notice to cancel our agreement and find another property manager.
Thanks for the thread, it`s very helpful. Yes, I`ve also been with KIRKSIDE for the past eight months and it was a horrific experience. I have been wanting to switch to another management company, but hung around hoping that all problems will be solved. However, one after another(it just doesn`t end): utilities issues, tenants not paying rent, can never get a hold of PM, statements are always late and unclear. Plainly putting it, they are just incompetent. After reading this thread and realizing that other members are having problems with Kirkside definitely make me realize that it`s not just my bad luck. Time to fire them!
- Joined
- Aug 30, 2007
- Messages
- 47
Realty Corp - Poor response time, didn`t listen to suggestions or requests or follow-up with questions/confusions, poor statements = not recommended
Libertas - Although I`ve been recently slammed with 4 vacancies in a one week period, I can`t blame them for job losses, bad relationships and dropped goverment funding. Libertas has been good all around since I`ve been using them. Although, they seem to be experiencing a bit of growing pains right now which is taxing them a bit in all avenues. Hopefully they will be able to work through this though. I feel confident that they will.
Libertas - Although I`ve been recently slammed with 4 vacancies in a one week period, I can`t blame them for job losses, bad relationships and dropped goverment funding. Libertas has been good all around since I`ve been using them. Although, they seem to be experiencing a bit of growing pains right now which is taxing them a bit in all avenues. Hopefully they will be able to work through this though. I feel confident that they will.
- Joined
- Sep 1, 2007
- Messages
- 3
QUOTE (thuy @ Apr 2 2009, 09:48 PM) Thanks for the thread, it`s very helpful. Yes, I`ve also been with KIRKSIDE for the past eight months and it was a horrific experience. I have been wanting to switch to another management company, but hung around hoping that all problems will be solved. However, one after another(it just doesn`t end): utilities issues, tenants not paying rent, can never get a hold of PM, statements are always late and unclear. Plainly putting it, they are just incompetent. After reading this thread and realizing that other members are having problems with Kirkside definitely make me realize that it`s not just my bad luck. Time to fire them!
UPDATE ON MY HORRIBLE EXPERIENCE WITH KIRKSIDESo, before I could fire Kirkside (which I was planning on doing at the end of the month) I get an envelope from them with my keys in it and a letter saying THEY`RE cancelling the agreement because:
-"the property is unrentable" (1-bedroom near Whyte Ave, University, and Hospitals, it`s rentable but they failed to do anything about it), and
- "my slanderous remarks" (they`re obviously on here reading these statements)
I`m not a lawyer but I don`t think stating facts such as how long a property has been vacant and how they don`t return phone calls is slander. The great thing about MyReinSpace is at least the REIN members can share their horror stories with one another.
Good riddance, I only wish it could have happened sooner.
UPDATE ON MY HORRIBLE EXPERIENCE WITH KIRKSIDESo, before I could fire Kirkside (which I was planning on doing at the end of the month) I get an envelope from them with my keys in it and a letter saying THEY`RE cancelling the agreement because:
-"the property is unrentable" (1-bedroom near Whyte Ave, University, and Hospitals, it`s rentable but they failed to do anything about it), and
- "my slanderous remarks" (they`re obviously on here reading these statements)
I`m not a lawyer but I don`t think stating facts such as how long a property has been vacant and how they don`t return phone calls is slander. The great thing about MyReinSpace is at least the REIN members can share their horror stories with one another.
Good riddance, I only wish it could have happened sooner.
- Joined
- Aug 30, 2007
- Messages
- 412
QUOTE (GSI @ Mar 6 2009, 08:27 AM) Here are a couple of simple ideas for landlords and property managers:
How To Keep Your Property Manager Productive
Link source: NuWire Investor (http://www.nuwireinvestor.com)
Keep the comments coming!
Todd,
Great article and ideas. In the section about "Manage the manager" you suggest "Be sure to have your property manager do a walk through inspection every six months and take pictures to document condition. This will help keep repairs from getting out of hand." This is a great suggestion, but do you know of any Edmonton PMs that do this?
Thanks,
Nicola
How To Keep Your Property Manager Productive
Link source: NuWire Investor (http://www.nuwireinvestor.com)
Keep the comments coming!
Todd,
Great article and ideas. In the section about "Manage the manager" you suggest "Be sure to have your property manager do a walk through inspection every six months and take pictures to document condition. This will help keep repairs from getting out of hand." This is a great suggestion, but do you know of any Edmonton PMs that do this?
Thanks,
Nicola
QUOTE (GSI @ Feb 1 2009, 09:53 PM) On our REIN MYSPACE forum we talk a lot about which residential property managers are good and bad, as well as ways to improve self-managing.
I thought that it would be helpful to make a list of Edmonton property managers (you could do a similar post for your city too) and rate them. The key is to add both your positive and negative feedback. Some property managers should just plain be avoided- don`t be shy to write that. Others deserve more recognition for doing a great job- add that too.
I wanted to add a space for comments under the direct polls, but wasn`t able too. therefore, please just add your comments under the company names below. If I missed some major property managers, please add them.
1) Realty Corp. (Liberty Manor)
2) Kirkside Realty
3) Realty Canada (Don King)
4) Libertas Property Management Inc.
5) Davis Management and Realty (was Brent Davis) We do not recommend this PM company. We used them to manage our SF and MF building for almost a year in 2007. We were overseas for 6 of those months. We ceased using them March 2008. Management was okay, but the staff working the properties were very poor, perhaps due to being overworked, over extended. New owners may change but the staff still remains. We had extremely high vacancies, some properties vacant for over 4 months, filled with new PM company in 2 weeks and still filled! Upon our return to Canada, we met with tenants and visited each property and some issues discovered: tenant queries were ignored, repairs not completed but billed, damages missed on checkout, leasing to poor quality tenants, some without leases signed, or without proper documentation. Their financial statements are done well and easily read!
6) Terra Realty (DMG/Don Grey)
7) Assured Property Management (Macdonald Realty - John Stobbe)
8) Group Three Property Management
9) Larlyn Property Management (condo)
10) Mayfield (condo)
11) Esquire Management Group
12) Milligan Realty Ltd.
13) Blue Print Property Management
14) Ayre & Oxford Inc.
15) Bella property Management
Someone I forgot? Please add them below:
I thought that it would be helpful to make a list of Edmonton property managers (you could do a similar post for your city too) and rate them. The key is to add both your positive and negative feedback. Some property managers should just plain be avoided- don`t be shy to write that. Others deserve more recognition for doing a great job- add that too.
I wanted to add a space for comments under the direct polls, but wasn`t able too. therefore, please just add your comments under the company names below. If I missed some major property managers, please add them.
1) Realty Corp. (Liberty Manor)
2) Kirkside Realty
3) Realty Canada (Don King)
4) Libertas Property Management Inc.
5) Davis Management and Realty (was Brent Davis) We do not recommend this PM company. We used them to manage our SF and MF building for almost a year in 2007. We were overseas for 6 of those months. We ceased using them March 2008. Management was okay, but the staff working the properties were very poor, perhaps due to being overworked, over extended. New owners may change but the staff still remains. We had extremely high vacancies, some properties vacant for over 4 months, filled with new PM company in 2 weeks and still filled! Upon our return to Canada, we met with tenants and visited each property and some issues discovered: tenant queries were ignored, repairs not completed but billed, damages missed on checkout, leasing to poor quality tenants, some without leases signed, or without proper documentation. Their financial statements are done well and easily read!
6) Terra Realty (DMG/Don Grey)
7) Assured Property Management (Macdonald Realty - John Stobbe)
8) Group Three Property Management
9) Larlyn Property Management (condo)
10) Mayfield (condo)
11) Esquire Management Group
12) Milligan Realty Ltd.
13) Blue Print Property Management
14) Ayre & Oxford Inc.
15) Bella property Management
Someone I forgot? Please add them below:
- Joined
- Aug 30, 2007
- Messages
- 200
Hi Nicola,
Some PMs do do it, often you`ll need to be persistent on making sure it happens. If 6 months is too often, try 8 or 10 months. Have it written into your PM agreement if possible.
It is so frustrating to see a bad PM let the value of your asset deteriorate due to mismanagement or worse, become trashed and need major repairs.
Todd-
QUOTE (Nicola @ Apr 25 2009, 08:19 PM) Todd,
Great article and ideas. In the section about "Manage the manager" you suggest "Be sure to have your property manager do a walk through inspection every six months and take pictures to document condition. This will help keep repairs from getting out of hand." This is a great suggestion, but do you know of any Edmonton PMs that do this?
Thanks,
Nicola
Some PMs do do it, often you`ll need to be persistent on making sure it happens. If 6 months is too often, try 8 or 10 months. Have it written into your PM agreement if possible.
It is so frustrating to see a bad PM let the value of your asset deteriorate due to mismanagement or worse, become trashed and need major repairs.
Todd-
QUOTE (Nicola @ Apr 25 2009, 08:19 PM) Todd,
Great article and ideas. In the section about "Manage the manager" you suggest "Be sure to have your property manager do a walk through inspection every six months and take pictures to document condition. This will help keep repairs from getting out of hand." This is a great suggestion, but do you know of any Edmonton PMs that do this?
Thanks,
Nicola
I agree that Libertas have sound systems and ethics in place.
I`d have to say however that I don`t with the responsiveness........I find that I have to do alot of "chasing" to get responses to general landlord enquiries and it rarely meets the 48hrs target. Can be hard work sometimes.
Carolyn (my Property Mgr) is great......they are very quick to respond to tenent issues/emergencies...and I feel my units and tenants are well looked after.....I`d just like to see that urgency extended to general landlord enquiries.
I guess you can;t have it all!!
I`d have to say however that I don`t with the responsiveness........I find that I have to do alot of "chasing" to get responses to general landlord enquiries and it rarely meets the 48hrs target. Can be hard work sometimes.
Carolyn (my Property Mgr) is great......they are very quick to respond to tenent issues/emergencies...and I feel my units and tenants are well looked after.....I`d just like to see that urgency extended to general landlord enquiries.
I guess you can;t have it all!!