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Old 03-12-2015, 10:38 AM   #1
Property Manager DB
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I have been receiving many questions in private messages and decided to start a thread for everyone to view and post questions.

I will add the questions/answers to the FAQ as they come up. Ask away!


What is a Property Manager?
Property Managers are referred as several different titles within the industry; Property Administrator, Leasing Agent, Landlord or Real Estate Manager. All of these titles are interchangeable.
In short, a Property Manager acts on behalf of the owner to preserve the value of property while generating income.


Advertising & Marketing:

How is the rental amount determined?
The rental amount is determined by analyzing the rental market in your area and assessing the current market conditions. My priority is to achieve the highest possible rental rate and best terms for your property.

How will my property be marketed?
Properties are market through various rental websites (rent faster, Craig’s List, Kijiji, etc.), social media websites and through my exclusive sponsorship with CalgaryPuck.com. Additionally, Unison Realty has strong relationships with Relocation Specialists and oil/gas companies who are continuously looking for properties.

When will my property start being advertised?
Advertising begins immediately following the signing of the Management Agreement.


Monthly Statement:

When will I receive payment?
Owners are paid on the 10th of every month to allow 7-10 days for the tenant’s cheque to clear. In the event this is delayed, I will be sure to provide communication and reasoning.

Will I receive a monthly statement?
Yes, our accounting department will email you a detailed report which can be used for tax purposes.


Tenant Placement:

How long does it take to find a tenant for my property?
On average, Unison will find a tenant for your property within the first 15-20 days of advertising your property. Obviously, there are many factors which attribute to quickness of tenancy placement such as rental amount, vacancy rate in the area, time of year, etc.

How are tenants screened?
Tenants carefully screened in my 3 step process:
1. Phone interview: This is the first contact where I ask open ended questions to get a better idea of suitability.
2. Background/Credit Checks: Thoroughly investigate the potential tenant’s income and character. This is done by contacting the tenant’s employer, running a credit check and other resources.
3. Face to Face Interview: This is the best way to ensure and get an understanding of the applicant’s suitability and character.
What is involved with Move In/Out inspections?
All the Property Manager’s at Unison use the Happy Inspector App which provides a detailed report and includes photographs of every room, inventory (if applicable), any previous or new damages and any additional notes about the property. A copy of the report is kept on file and emailed to the tenant to avoid discrepancies.


Repairs & Potential Issues:

What happens if a tenant doesn’t pay their rent?
I place great emphasis on tenancy screening to avoid such circumstances however, in rare situations where an eviction is needed; we will hire an attorney or bailiff that specializes in evictions. This process is coordinated on the owner’s behalf by serving the eviction notice and handling the necessary legal filings.

How are repairs handled?
Firstly, I confirm that the repairs are not the tenant responsibility such as a broken furnace or hot water tank. The repairs are then coordinated with the Owner’s approval. Unison has many connections with handymen/women to ensure the most cost effective repair.
In the event of an emergency, tenants are provided with contact information and access to our 24 hour emergency line.
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Old 03-12-2015, 07:10 PM   #2
CETokyo
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Could you please provide an overview of the fee structure.
Is it a % percentage of monthly rent?
Are there other fees or additional fees?
Thanks
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Old 03-13-2015, 09:18 AM   #3
Property Manager DB
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Quote:
Originally Posted by CETokyo View Post
Could you please provide an overview of the fee structure.
Is it a % percentage of monthly rent?
Are there other fees or additional fees?
Thanks
There are 3 different fee structures at Unison Realty;
- 12% for Unfurnished Properties
- 15% for Owner Furnished Properties
- 30% for Properties Furnished by Unison.

If the property is vacant we can advertise at both unfurnished and furnished rental rates to secure the highest possible rate of return and lease term.

There is an annual fee which covers the advertising, tenant placement and contract initiation. This fee covers all the costs for marketing the property (on corporate websites, RentFaster, craigslist, YouTube, etc.), getting a photographer for Unit photos and the Property Managers time for showing the properties to prospective tenants.

Unlike many other companies, Unison does not charge for each lease renewals but rather just the annual fee.
Also, the subsequent annual admin fee will be waived provided, that the existing tenant lease agreement exceeds 12 consecutive months, no additional tenant lease agreements were signed or no advertising was done within the past 12 months since the annual admin fee date.

In regards to the fee amount, I will be sure to take care of CP
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Old 03-19-2015, 04:35 PM   #4
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Can a landlord use their own lease or do you require your standard document?
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Old 03-19-2015, 05:41 PM   #5
Property Manager DB
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Quote:
Originally Posted by killer_carlson View Post
Can a landlord use their own lease or do you require your standard document?

If an owner currently has a lease in place with a tenant, the owner then has the option to either;
  • Have Unison take over that lease agreement with the signing of an amendment. (The lease duration, terms and conditions do not change)
or
  • Sign a new lease with the existing tenant.

Either option is plausible, however the current tenant must always agree with the changes.


Lease Agreement Addenda

At Unison, we use a template for all of our new leases and make minor additions or subtractions to the lease depending on the tenant. I have added some examples below as to what is considered an addition (addenda) to a lease.


We always add the 'Non-Smoking Suite - Schedule' to our leases which is a good example of an addenda.

Another example is if the tenant has a pet, we add a to the lease a 'Pet Agreement & Policies'. This document describes the pet (type, height, weight, etc.) and also makes the tenant aware that he/she is fully responsible to comply with condo and city bylaws.


Hope that answers your question.

Thanks,
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Old 04-13-2015, 11:46 AM   #6
Travis Munroe
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I am curious how you are finding the rental market?

My own experience is that rents have not come down too much however properties are not being rented sight unseen and it is taking longer. Similar to the real estate market where pricing has yet to really be corrected but properties are staying on the market longer.

Whats your companies outlook for the rental market in 2015? I believe you mentioned somewhere that furnished units are a bit more of a challenge right now as less people move to Calgary (often the furnished type renter)

Thx
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Old 04-13-2015, 06:16 PM   #7
Property Manager DB
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There's no question that the rental market is down from last year this time but not nearly as much as the media likes to portray.

You're right, there are more properties available for rent these days. This in turn, benefits the searching Tenant rather than the Owner. With more selection, Owner's are forced to lower there rent to match other listings in an effort to avoid vacancies.

That being said, generally we are renting unfurnished 2 bedroom properties for only a couple hundreds less per month comparable to last year. The furnished market has dropped a bit more as you implied (3-4 hundred less per month).

Another notable is that lease term's are increasingly becoming shorter on average. Tenant's are searching for 3-6 month leases rather than 1-2 years in anticipation of further price drops.
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Old 04-13-2015, 06:16 PM   #8
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