QUOTE (Goodstuff @ Aug 29 2009, 08:08 PM) There are an unbelievable number of rentals available in Calgary right now. Just have a look on kijiji.ca and you`ll see what I mean. And prices are way, way down. This is horrible for someone with a property they`re trying to rent (like me)...
No question the rental market is softer this year. Excellent marketing and cretive strategies are more important than ever. Re-read REIN`s Solid Oak Marketing doc - lot`s of good material in there.
No question the rental market is softer this year. Excellent marketing and cretive strategies are more important than ever. Re-read REIN`s Solid Oak Marketing doc - lot`s of good material in there.
I was in discussion with a rental web site provider.
His reported his site has 1100 houses for rent in Calgary.
He reports 10/day are rented.
We have a t/h duplex for rent - ykkss
We`ve had more emails from South Africa (pranks) then real people looking.
I guess we are all competing against each other, using many of the "secret - educated investor tactics"
Don look what you`ve created !
g
His reported his site has 1100 houses for rent in Calgary.
He reports 10/day are rented.
We have a t/h duplex for rent - ykkss
We`ve had more emails from South Africa (pranks) then real people looking.
I guess we are all competing against each other, using many of the "secret - educated investor tactics"
Don look what you`ve created !
g
QUOTE (RJackson @ Sep 1 2009, 04:04 PM) I was in discussion with a rental web site provider.
His reported his site has 1100 houses for rent in Calgary.
He reports 10/day are rented.
We have a t/h duplex for rent - ykkss
We`ve had more emails from South Africa (pranks) then real people looking.
I guess we are all competing against each other, using many of the "secret - educated investor tactics"
Don look what you`ve created !
g
Talk to the tenants you show your properties to, there are tons of horrible properties out there that are just staying on the market. Although things are softer and you may need to lower rents a bit, don`t panic, if you are providing a top flight product you can still demand slightly above market rent.
His reported his site has 1100 houses for rent in Calgary.
He reports 10/day are rented.
We have a t/h duplex for rent - ykkss
We`ve had more emails from South Africa (pranks) then real people looking.
I guess we are all competing against each other, using many of the "secret - educated investor tactics"
Don look what you`ve created !
g
Talk to the tenants you show your properties to, there are tons of horrible properties out there that are just staying on the market. Although things are softer and you may need to lower rents a bit, don`t panic, if you are providing a top flight product you can still demand slightly above market rent.
[list type=decimal][*]be at market rent - do your research on the various rental websites like rentboard[*]make sure your property is extremely clean when you show it[*]respond to inquiries about your suite within 24 hours[*]get feedback from potential renters (what would it take for them to rent it)keep your marketing freshtake good pictures of your unitbe sure your unit is updated - you will always attract more people[/list type=decimal]These are some things that have helped me keep vacancies low.
Brenda Bastell
Brenda Bastell
QUOTE (Goodstuff @ Aug 29 2009, 09:08 PM) There are an unbelievable number of rentals available in Calgary right now. Just have a look on kijiji.ca and you`ll see what I mean. And prices are way, way down. This is horrible for someone with a property they`re trying to rent (like me)...
I am tired of people, REIN members especially, complaining about tougher markets. (Aren`t all markets tough in some way, house prices too high, house prices falling, too many renters, not enough renters, etc etc) This is a business so suck it up and get it done! I just rented a place I bought in Bedington (NW Calgary) that closed August 26th. I had the basement suite rented before I owned the home and I just rented the upstairs last night. Both are top notch tenants that paid slightly over market rent!
Yes, there are more listings. More people who used to rent can now afford to buy a place.....that is just the reality of the situation. But that situation is changing again!
Let`s get creative. There have been many posts to help with these situations. If vacancies are killing your business I am happy to buy your assets and take care of your problem. The bigger your problem the bigger my profits.
REIN has plenty of good material to help you get your places rented. There are many many members that are more than willing to help out. There are great companies that deal with nothing more than filling your home with great tenants. Find a way. If you can`t find a way this may not be the business for you. And if you can`t find a way and you are JVing property....you might have some explaining to do to your investors.....you were the expert right!
Good luck and Happy Investing,
Wade
I am tired of people, REIN members especially, complaining about tougher markets. (Aren`t all markets tough in some way, house prices too high, house prices falling, too many renters, not enough renters, etc etc) This is a business so suck it up and get it done! I just rented a place I bought in Bedington (NW Calgary) that closed August 26th. I had the basement suite rented before I owned the home and I just rented the upstairs last night. Both are top notch tenants that paid slightly over market rent!
Yes, there are more listings. More people who used to rent can now afford to buy a place.....that is just the reality of the situation. But that situation is changing again!
Let`s get creative. There have been many posts to help with these situations. If vacancies are killing your business I am happy to buy your assets and take care of your problem. The bigger your problem the bigger my profits.
REIN has plenty of good material to help you get your places rented. There are many many members that are more than willing to help out. There are great companies that deal with nothing more than filling your home with great tenants. Find a way. If you can`t find a way this may not be the business for you. And if you can`t find a way and you are JVing property....you might have some explaining to do to your investors.....you were the expert right!
Good luck and Happy Investing,
Wade