Archive for the ‘Calgary Tenants’ Category

A Long Term Successful Alberta Landlord Gives Advice

Saturday, August 1st, 2020

A Landlord Who Has Owned Rentals Since the 1980’s Speaks Out

Thank you ALA for agreeing to post my message “edit free” so I can talk “real talk” about my experiences as a long term landlord/investor who is now a millionaire thanks to owning residential rentals.

Time Are Super Tough Now…But They Were Even Worse Before

Just about all of us are dealing with non-payers or vacancies and it looks like being a small private landlord is a hopeless investment.

It’s not. You can succeed and make a lot of money.

As some who bought his first rental property in 1981 I’ve seen it all.

Our province is the golden land and the problem is the federal government often makes some poor polices which hurt our economy.

And we rely on oil prices and access to sell our product.

Bad Times Can Change To Good Times Fast

Keep confident because it’s always a cycle.

We get low oil prices and a bad government and it hurts us…but then we get a pro-Alberta government and high oil prices and it’s like 2014 when landlords could charge applicants $50 just to see our rentals!

Hold On And Good Times Always Come, You Lose If You Don’t Hold On.

Like I said, our economy is cyclical. We are up and down due to who is running the country and oil prices.

Things could be improving soon and then your rental industry will boom!

Remember it wasn’t so long ago Calgary Mayor Nenshi was blaming us for high rents when there was a huge migration of people to come to work in our province.

Become An Expert Landlord To Hold On During Bad Times, And Thrive During The Good Times.

The up cycle is on the way. Landlords will see our property prices appreciate and a huge influx of people into our province for jobs.

Stay Positive

It’s always like this. We have an up and down economy and things are soon going to get better.

How To Succeed?

(1) Market Your Properties The Right Way

Remember, when good tenants have lots of choices you can stand out with the prettiest property and  consider a lower rent for the first years.

(2) Always Run Credit and Criminal Checks

The ALA offers huge discounts so you can make sure you know you are renting from a good tenant…and not a pro who has ripped people off before.

(3) Get Help From Successful Alberta Landlords To Fix Problems

Join our forum to get help and advice. Don’t listen to the media, don’t listen to the government…learn from people like me who have been in this industry for decades.

I’ve been through it all, all the ups and downs. The most successful landlords know we have a cyclical economy and when times are tough you just ‘get through it’ and carefully screen tenants.

When times are good you raise rents to build a nest egg (and you might even sell some of your rentals at the top of the market!)

Discuss this at the Alberta Landlords Forum

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Posted in Alberta Evictions, Alberta landlord forum, Alberta Landlord Knowlede Vault, Alberta Landlords Association Membership, Alberta renters, Alberta Residential Landlords Association, ARLA, Calgary Tenants, Credit Checks, criminal checks, edmonton landlords, Edmonton tenants, Landlord credit check, Landlord forum, Landlord Help, landlord help alberta, naborly scandal, Property Management | Comments Off on A Long Term Successful Alberta Landlord Gives Advice

Calgary Vacancy Rate

Thursday, August 1st, 2013

August 1st, 2013

 Calgary landlord tenant flood low vacancy

The Flood and University Students Returning May Lead to Higher Rents

According to report in the Calgary Herald the residential property vacancy rate is so low landlords have stopped aggressively advertising because even a small ad brings in a flood of potential tenants.

The competition between tenants looking for a nice rental unit could become even more competitive soon:

1. Many buildings remain unlivable after the flood

2. University students are returning soon to start classes and they need off-campus housing

One landlord husband and wife team said the number of applicants they are receiving is overwhelming.

Tammy Panchuk and her husband own forty rentals in Calgary.

While other areas across the country such as Barrie, Ontario have landlords desperately seeking qualified tenants things are very different in Calgary.

With no vacancies and so much demand they now only put an ad up on one website instead of many.

Panchuk is also a Calgary real estate agent and said the Calgary landlords and investors she deals with are all full with few vacancies. She says if there is an opening it gets filled fast.

Many universities such as Mount Royal and the University of Calgary and SAIT believe the housing crunch is going to have a serious effect on students looking for off-campus housing.

The Vice-president of the Mount Royal University student union, Tristan Smyth, believes the flood will lead to higher rents and less vacancies.

Mayor Naheed Nenshi also expects a worsening rental market in September, and even predicted this week that the rental vacancy rate could come close to zero because of last month’s big flood.

To Discuss This And Other Landlord and Tenant Issues Go to the Free Alberta Landlord Forum

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Calgary Flood Recovery, Tight Rental Market For Tenants, And The Opportunity For More Secondary Suites

Wednesday, July 3rd, 2013

July 2nd, 2013

Alberta Calgary Rental Market

What Do The Floods Mean For Calgary Landlords and Tenants?

Calgarians are doing a great job coming together to clean up properties damaged in the flood.

According to the Calgary Herald there’s concern the flood will shrink our city’s rental housing market which is already very tight in 2013.

The Canada Mortgage and Housing Corp. reported last week that Calgary’s vacancy rate fell to 1.2 per cent in April which is down from 2.5 per cent in April 2012.

The CMHC says monthly rent for an average two-bedroom apartment in Calgary is currently $1,202.

We wrote about this before.

A University of Calgary paper published in 2011 revealed the city lost 7,500 apartment units to condo conversions from 2001 to 2009, while at the same time an average of 12,000 new people were coming to the city each year.

With the city’s residential vacancy rate sitting at just above one per cent, Tim Richter of the Canadian Alliance to End Homelessness said increased competition for rental accommodations could stymie efforts to find permanent housing for our poorer citizens.

Says Richter: “You have a potential reduction of residential (housing) stock in the short term, you have more people with damage to their homes pushed into the rental market in the short term and you have more skilled labour coming to Calgary to help in the reconstruction

Creating More Safe and Legal Secondary Suites

Nenshi has strongly advocated for more high quality and affordable rental units. Unlike politicians in Ontario who want to punish landlords and prevent landlords from having the tools to run successful rental businesses, Nenshi wants easing restrictions on secondary suites as one way of increasing the amount of affordable housing in the city.

So far city council has so far failed to approve any substantial changes.

The mayor has also said reform would also improve safety and legal protection for tens of thousands of Calgarians living in illegal suites.

“One of the things I’ve allowed myself to worry about in the reconstruction phase of this as we’re dealing with the emergency is ‘What is going to happen to those people?’ ” Nenshi said.

“I don’t want to be politically opportunistic about this, but if we continue in a world where we have a whole bunch of illegal secondary suites that we haven’t inspected, what if there’s mould? What if there are other issues? We have to fix that.”

Great Mayor. Great Ideas. Let’s Make It Happen!

To discuss this and other issues go to the Alberta Landlords forum

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Posted in Calgary landlords, Calgary Tenants | 3 Comments »

Calgary Housing Program Offers Cheap Housing In Return for Helping Landlords

Monday, September 17th, 2012
September 16th, 2012

Landlords and Tenants and a Win-Win Situation!

What is the Housing Program About?

A Calgary program focusing on home shares is taking a new approach to low vacancy rates and higher rent prices to help both Calgary landlords and Calgary tenants.

Sounds Good!

The program is attempting to connect Seniors with university students to fill rooms that are still vacant in return for these students offering the Seniors support.

What Type of Support?

Here’s how it works.  The Calgary program helps students in Calgary find inexpensive housing in exchange for helping the homeowner, usually a Senior, do daily house work.

Can You Provide Me with Real Life Examples of the Program?

Recently widowed, landlord Vivian Toews sometimes requires a bit of help doing gardening and household cleaning.

Meanwhile, University of Calgary student Rebecca Enter was looking for an inexpensive place to rent while she studies.

What Happened?

The Calgary Home Share program saw they could be a perfect match!

The program brought them together.

What Does the Landlord Say?

The landlord Vivian Toews praises the heavy jobs her tenant does for her.  Toews also praise Rebecca’s great attitude … even when Toews admits she gets a bit bossy.

And the Tenant?

Tenant Enter says her chores are like what she is used to doing at home, like cutting the lawn.  She always appreciates the fact she is helping out a senior.

This is just another example of how small business landlords are really an important part of our economy.  Of course, the media rarely reacts when a small business landlord helps renters out.

What Is the Lease Agreement?

Toews and Enter signed a lease which states there will be no partying and no guests staying overnight.

It’s an agreement which includes no overnight guests and no partying.

The tenants’ rent is only $300 monthly.

Is This Program Expanding?

Yes.  The program is a success and is now including adult tenants. It’s yet another example of how Calgary landlords are helping tenants.

How Many Senior Landlords Are Now Involved?

There are now over seventy senior landlords who have been matched with tenants.

There are also over fifty seniors on the waiting list for renters!

What Type of Tenant Screening is Done?

Background checks are done on all applicants.

For more information on the program, visit the Calgary Seniors’ Resource Society website.  It’s a terrific resource for Calgary Landlords to meet helpful and qualified tenants.

It’s also great to see the government looking after the needs of both Calgary landlords and Calgary tenants instead of what is happening in Ontario where Ontario landlords are being punished when they try to create affordable housing.

Alberta: a great place to invest and live in!

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Posted in Calgary Tenants | 2 Comments »

Calgary Real Estate Board Warns Online Scammers Targeting Tenants

Monday, March 26th, 2012

 March 26th, 2012

 

Renters Beware!

The Calgary Real Estate Board is warning people about a scam that has recently popped up, aimed at would-be renters through online classified sites.

It says property details, photos and the name of the realtor listing a property have been used from other sites where the information is legitimately posted.

What is the Scam?

Bob Jablonski, CREB’s president, describes how the scam works: “The scammer impersonates the realtor by using his or her name to respond to inquiries from prospective renters. The scammer is unavailable to meet the prospective renter in-person at the property and proposes that funds be forwarded to rent the property. The ‘owner’ will, in turn, make arrangements for someone to meet the renter at the property and hand over the keys. As you can imagine, no one shows up at the property to meet the renter.”

Is There Any History Behind This?

The scam has been active in Alberta in the past and may have reappeared due to the diminishing inventories of rental properties, says CREB.

In a statement, Madeline Sarafinchan, the Alberta Real Estate Association’s president, said: “The risk for citizens falling victim to this type of scam becomes greater in markets where there are fewer rental vacancies, such as what we are starting to see in some regions in Alberta. When demand is high and vacancies low, consumers may take greater risks to secure a rental situation – risks that they wouldn’t necessarily otherwise take.”

When using online classifieds websites, consumers are advised to ensure all financial transactions take place locally and in person, adds CREB.

Similar rental scams have been seen in Ontario.  The Ontario Landlord Association has discussed such scams in their Tenant Forums.

 

 

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