we currently have a vacant condo in grande prairie. management is suggesting and listing others at 1200.00 we are looking for more like 1375.00 we placed ad ad on kijiji and have some interest at 1375.00 we have forwarded the management our expectations and forwared the managers contact info to our prospective "customers" all other hints and suggestions would be greatly appreciated cheers ken
property management guidance
- Thread starter kennicoll
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Tip #1...get rid of your current property manager in Grande Prairie!!
Property mgt in GP is very challenging and has forced us to self manage while we look for other alternatives. If they have 20 propertues to rent right now, why would they want to rent yours for $1375, if others can be rented much easier at $1200?? Most PM companies up there are understaffed and don`t get the concept that lower rents affect your CASHFLOW!!
We just found out (after the fact) that our PM company wasn;t even doing the showings on vacant properties, they would just hand out the keys and tell the tenant to have a look on their own...unbelievable!
A good test of your PM`s capabilities is to act as a potential tenant and give them a call, or have friend go down to their office to see how they are treated. You will know in the first 10 seconds whether they are doing their job or not.
Good luck!
Property mgt in GP is very challenging and has forced us to self manage while we look for other alternatives. If they have 20 propertues to rent right now, why would they want to rent yours for $1375, if others can be rented much easier at $1200?? Most PM companies up there are understaffed and don`t get the concept that lower rents affect your CASHFLOW!!
We just found out (after the fact) that our PM company wasn;t even doing the showings on vacant properties, they would just hand out the keys and tell the tenant to have a look on their own...unbelievable!
A good test of your PM`s capabilities is to act as a potential tenant and give them a call, or have friend go down to their office to see how they are treated. You will know in the first 10 seconds whether they are doing their job or not.
Good luck!
QUOTE (C2Ventures @ Jan 3 2009, 09:06 PM) Tip #1...get rid of your current property manager in Grande Prairie!!
Property mgt in GP is very challenging and has forced us to self manage while we look for other alternatives. If they have 20 propertues to rent right now, why would they want to rent yours for $1375, if others can be rented much easier at $1200?? Most PM companies up there are understaffed and don`t get the concept that lower rents affect your CASHFLOW!!
We just found out (after the fact) that our PM company wasn;t even doing the showings on vacant properties, they would just hand out the keys and tell the tenant to have a look on their own...unbelievable!
A good test of your PM`s capabilities is to act as a potential tenant and give them a call, or have friend go down to their office to see how they are treated. You will know in the first 10 seconds whether they are doing their job or not.
Good luck!
thanks monte a little tough to self manage when you live 300 miles from grande prairie
Property mgt in GP is very challenging and has forced us to self manage while we look for other alternatives. If they have 20 propertues to rent right now, why would they want to rent yours for $1375, if others can be rented much easier at $1200?? Most PM companies up there are understaffed and don`t get the concept that lower rents affect your CASHFLOW!!
We just found out (after the fact) that our PM company wasn;t even doing the showings on vacant properties, they would just hand out the keys and tell the tenant to have a look on their own...unbelievable!
A good test of your PM`s capabilities is to act as a potential tenant and give them a call, or have friend go down to their office to see how they are treated. You will know in the first 10 seconds whether they are doing their job or not.
Good luck!
thanks monte a little tough to self manage when you live 300 miles from grande prairie
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QUOTE (kennicoll @ Jan 4 2009, 08:49 AM) thanks monte a little tough to self manage when you live 300 miles from grande prairie
You can do everything but the showings from your home, wherever it is. Find someone to do the showings for you and you can effectively manage yourself. Get creative in where you look for such a person. For example, when we are away we use our painter to do this for us. She knows us well, has painted many of our properties so she knows themn also, and it is extra revenue for her. A great fit.
Of course you will also need repair and maintenance resources, but they too can be found from afar.
You might want to make a hiring trip to GP to get all this arranged.
You can do everything but the showings from your home, wherever it is. Find someone to do the showings for you and you can effectively manage yourself. Get creative in where you look for such a person. For example, when we are away we use our painter to do this for us. She knows us well, has painted many of our properties so she knows themn also, and it is extra revenue for her. A great fit.
Of course you will also need repair and maintenance resources, but they too can be found from afar.
You might want to make a hiring trip to GP to get all this arranged.
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- Oct 7, 2007
- Messages
- 699
QUOTE (kennicoll @ Jan 4 2009, 09:49 AM) thanks monte a little tough to self manage when you live 300 miles from grande prairie
Well I live just outside of Regina, SK which is about 1200 miles away, so yes it can be done. As Garth mentions, find someone capable of doing showings etc and as a local contact for anything that needs to be done. Also, find a reliable handyman for any fixes/repairs that come up.
As for rent etc, set up automatic deposit into your accounts, or get post dated cheques, or have your tenants go down to your bank.
Bottom line...it can be done from afar with a bit of effort and determination.
PS. We just rented a 1/2 duplex for $300/month greater than what our (former) property mgr (QPM) was asking!!
Well I live just outside of Regina, SK which is about 1200 miles away, so yes it can be done. As Garth mentions, find someone capable of doing showings etc and as a local contact for anything that needs to be done. Also, find a reliable handyman for any fixes/repairs that come up.
As for rent etc, set up automatic deposit into your accounts, or get post dated cheques, or have your tenants go down to your bank.
Bottom line...it can be done from afar with a bit of effort and determination.
PS. We just rented a 1/2 duplex for $300/month greater than what our (former) property mgr (QPM) was asking!!