Hi, this is Warren Phipps with Mountain Park Real Estate. I’m here to discuss the process our company uses to handle Calgary executive rental management fees. If you’re considering turning your property into an executive rental, it’s nice to know what the costs are going to be.
First of all, the fees cover rent collection. We collect rents the first of every month. Obviously, we will take steps if the tenant is unable to make a payment, and we endeavor to collect all rents within three days.
We handle all accounting for the property. Each month, you will receive a monthly statement showing the rents collected, any expenses or repairs that had to be done to the property, our management fee, and then the net you will be receiving.
We handle all the billing for service providers. We pay for things such as repairs, lawn care or anything else necessary to maintain the property. Service providers are paid directly from rent collections, so those amounts are reflected in the net amount of rent you receive. You don’t have to make separate out-of-pocket payments.
We handle all tenant issues, so there are no worries for the owner. From start to finish, tenants call us. Of course, should there be a significant problem we let you know; but we try not to involve you unless absolutely necessarily.
We’ll coordinate all service and repairs. We work with trusted service providers that are loyal to us because we send them a decent amount of business. They put us at the top of their list for service and repairs, which means that your property will be well taken care in a timely fashion.
We also do semi-annual property inspections. We like to ensure that the tenant is not causing any damage or doing anything illegal on the property. There’s a lot of concern today about grow-ups, and we help ensure that you don’t have to worry about that as the property owner. The Residential Tenancy Act doesn’t allow us to inconvenience the tenant very often, but we also do random inspections. This keeps the tenants on their toes, and makes it unlikely they will do anything that might cause a problem with their tenancy.
We also maintain a 24/7 emergency call service. Should a pipe break in the middle of the night, there is somebody there to answer the phone, and we work with service providers that can be dispatched immediately to minimize the damage to your property. This is important to both the landlord and the tenant, and you can always be sure we are taking care of your needs.
Again, this is Warren Phipps. I’m with Mountain Park Real Estate. Should you have any questions, please contact us.