Property technology, or proptech, is advancing at a fast pace. The rapid improvements in technology in real estate and property management has not only impacted the businesses. Grasping this new tech can be crucial to remaining competitive for the independent landlords and property management companies alike. Here are the most efficient approaches for using these methods;
1. Adopt new technology: As consumers demand a more tech-savvy, data-driven approach to the apartment rental process, adopting new technology is essential not only to streamline overall rental processes but also to automate routine tasks such as property tours, rental applications etc for small landlords, investors and property management professionals.
Similarly, drones may appear a gimmick in real estate and proptech management, but they aren’t going anywhere and have the potential to change the market. Drones provide relatively easy and budget-friendly aerial photography that would have been prohibitively expensive just a few years ago.
2. Virtual and augmented reality: The latest and most meaningful new wave in proptech is SaaS platforms such that supercharge a tenant and property management professional to make better decisions. for example, tenants can use map search apartment rentals or houses in the desired neighborhoods by budget, by amenities or by distance and even do 3D home tours, saving tons of time not having to visit physically.
3. Tenant and landlord relations: Both Large landlord and property management companies can leverage proptech platform powered with AI chatbots and virtual assistants to engage in real-time with prospects 24/7 to address common questions and inquiries. This can avoid amount of missed opportunities that can range from as high as 40-60%
4. Big data application:  Proptech startups use of machine learning and artificial intelligence can help determine fair pricing of rental homes, as well as renters can find the fair rental rates based on analysis of big data from thousands of rentals within a defined geography. This is particularly useful for both tenants and landlords and is a win win for all.
 5. Go paperless, save time: The traditional processes that earlier needed multiple steps and took days or sometime weeks. These processes are namely; Property pictures, tenant background check, lease creation and even payment of deposits. Many of these today can be done online and paperless. Most smartphones today can produce quality pictures, tenant screening, lease drafting and payment arrangements can also be done paperless and online
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LEASEWELL is a premier property services company in Calgary. We help landlords with all aspects of their rental property so you can focus on things that matter most for you. while we do the heavy lifting for you. Let us help you find great tenants and keep your rental in top shape to maximize return on your property investment. ​For more please visit our website www.leasewell.ca or contact us at info@leasewell.ca

Ongoing pandemic has impacted many industries and business across the world as well as Canada since early February of 2020. Real estate and Rental market in Calgary is no exception. Both the rental market in Calgary as well as buying and selling of real estate in Calgary has got hit hard. Finding great tenants in slow economy could be hard so you need to have a plan!

1. Rental Market Assessment!
When you are in the market to rent your property, the first piece of advise you should heed to is to price your rental right! It goes without saying that if you just wing it, then you are making the common mistake that many landlords make.
Landlords who have invested their hard earned money in probably the biggest asset of their life can be very sentimental with regards to market value of their property's rent. It could be a million dollar property and may have a set amount of monthly expenses to cover but if local rental market doesn't support it, you could be sitting on the vacant property for months incurring thousands in fixed costs such as mortgage, property taxes, insurance and utilities bills.  
Instead, take professional help and have rental market professional or property manager conduct rental market appraisal of your rental market to arrive at the accurate market rate. Rental market appraisal considers similar properties in your local area that are on rent and have similar property features like yours. These features include, number of beds, bath, living space, parking, amenities and utilities to gauze the current going rent to ensure your rental pricing is competitive. 

2. Marketing Your Rental Property Right!
If you just bought a rental property or a second home, you may soon be looking to find great tenants for your rental property. This can be a daunting task in challenging times like we have in Alberta oil patch cities such as Calgary and Edmonton. At times like these, even the best property management companies may struggle to keep the properties occupied.
The basic strategy you should consider is to be at places where renters can easily find your rental property. If you are looking for tenants and have still not hired a rental management company, don’t sweat, we have 5 great tried and tested ways to help you start your search for prospective tenants!

A. Rental Websites
Research what are the most popular rental sites in your area where generally renters and rental management companies in your city or town go to? In US the most popular ones and likely the biggest names would be Zillow, Trulia and Apartment List. You may also want to check out Hot Pad, Zumper. and realtor.com as well all of which are fast growing currently. Many of these rental websites are free to use for landlords.
If you are in Canada, you definitely want to check out Trovit.ca, RentWell.Ca, Rentcafe.com and Rentfaster.ca is also popular for listing your rental property in Calgary and Edmonton area however it does have a listing fee. For some cities and communities classified websites such as craigslist and Kijiji remains the first place to go so you may want to check them out as well. This way you are able to cast a wider net to reach maximum potential renters in short period of time.

B. Social Media:
If you are active on social media, Facebook, Twitter and Google+ are great mediums to advertise your rental property showcasing its best features. Also if you have decent number of social connections let them know that you are looking for a good tenants and would appreciate a potential referral and would be happy to return the favor in future. The great thing about this is that now you are not alone looking but have many others who may be able to send someone they know and trust to send your way!

​C. Property Management Companies in Calgary
This may sound like an old fashion way but when it comes to knowing the tricks of the trade, Calgary property management companies can be really a great help. The local Real Estate and Property Management companies not only know the community very well, they are also well connected and know the pulse of the market to advise you on the fair rental value of your property for listing.
They will also ensure your property pictures and videos are professional taken are posted on all relevant rental websites and best features of the property are well presented during tenant showings. This can especially be a godsend if your rental property is far off in a different city or if you happen to be a busy professional yourself with no time or energy to do the heavy lifting yourself.
If your rental property has a mortgage line against, you really want your vacancy to be filled quickly so you don’t end up paying mortgage on an empty rental property and drain your savings. Makes sure you talk to at least couple of realtors and property management companies to find the one you feel most comfortable to work with.

D. Local Bulletin Boards:
Put up flyers for your rental in the community where your property is located. This can include bulletin boards at grocery stores, churches, colleges, Laundromats, and local cafes. Because these places can be busy, use a creative headline and big, colorful pictures to draw interest to the flyer and it should include the property address, the number of bedrooms and your contact information. On the bottom of the flyer, include tear-offs for people to take.

E. "For Rent’ Signs:
Put ‘For Rent’ sign on windows and or front lawn of your rental property. This is probably another old world way to get attention of potential tenants.  The passersby may be interested themselves or may know someone else who is looking to rent in the area. Make sure property features and a phone number can be clearly read from street level.

F. Use your network:
Spread the word as much as possible by letting as many people in and around you that you have a tenant vacancy. Tell your brother, sister, hairdresser, boss, and mechanic that you have a property for rent. Always have flyers with you so you can hand them out when needed. You can even offer a referral fee to give a greater incentive.

Bonus Tip: Be Flexible For Right Tenant
Good tenants can be hard to find. Therefore when you are advertising your rental property in Calgary, there are few allowances to consider if the ideal tenant lands on your doorstep. They may request a slight decrease in rent, ask permission for a small pet or minor changes to be made to the property or rental terms. In such cases, if the tenant fits well from your screen criteria, and looking for a long term commitment, it may be worth relaxing some restrictions to bring them over the line as your future tenant!
Get in touch with one of the best Calgary rental property professional! While you may want to save a few hundred dollars and do it yourself, in challenging times like these, the search may be even more stressful.  Good property management companies or if you are just looking for advise or guidance a local rental property professional can be the easiest way to find a tenant for your rental property.

Technology is a real boon for us. Now with just a few clicks they can get tons of useful information. If you are a renter is looking for rental properties in Calgary, Alberta, all that requires is searching online for Calgary rental properties and exploring the options out there from single family homes, condos or apartments on rental websites or websites of property management companies in Calgary.

Ideally you should start your rental property search at least 2 months before your property vacancy  date. Do your own research and planning in terms available rentals in your area, offered amenities, property features and rental prices in your community. Also have in mind what type of tenant you are looking for, would you allow pets in your rental and how you'd screen tenants for their credit worthiness. Note of caution, you should meet the renter in person and have the rental application or lease signed before accepting any money for your rental home.

When it comes to marketing your Calgary rental property you have a variety of options to market your rental property in Calgary from engaging property management and rental websites as well as local classified sites such as Kijiji to get your property online. Alternately you can work with a local rental property management company or leasing agents in Calgary. Today we’d walk you through top 10 best property rental websites to list your rental property in Calgary!

1. Your Website or Social Platform
If you have your website, it should be advertising central for your rental property listings. This is where you can feature photos, detailed information, and the ability to easily connect with your property management staff. Make sure your website is SEO friendly and professionally taken care for with simple design and copy. If you don’t have a personal website, consider using your social media platforms to showcase your rental listing such as Facebook, Twitter Or Instagram to let your social circle know that you are looking to rent your property. Keep quality photos and write a professional description. Don't know what rent you can get? Contact us for a free rental estimate!

2. RentWell.Ca
A good rental website should;

1. Provide your property rental listing wider tenant reach,
2. Help you find the pre screened quality tenant leads,
3. Help you effortlessly schedule tenant showings so you don’t waste time in multiple calls or emails
4. And finally help you get tenant rental applications online without having to print and sign a physical rental application saving time.

If you are looking to find a rental, RentWell.Ca can be your hidden secret! RentWell.Ca with it's simple and faster design provides great value because it provides all of the above tools and more for landlords across Alberta.
The best rental website in Alberta to help landlords navigate the digital universe to showcase their home rentals to find the most qualified renters for their rentals. RentWell.Ca is free to use for tenants and landlords yet packs unmatched value. Looking to rent your home? List your home now! 

3. Kijiji Canada
Kijiji is Canada’s largest classifieds site with millions of live ads in a wide range of categories - cars, housing, jobs and everything in between. Two new ads are posted every second! Kijiji Canada provides a platform that connects Canadians, helping them to list and rent their homes in their community, make money off unused possessions cluttering up houses, and help the country waste less.

4. Rentfaster.ca
RentFaster.ca launched into the real estate market in 2003 to help homeowners advertise their vacancies and renters find their perfect home. We started in Calgary and expanded to Edmonton in 2005 positioning it as the leading online home listing service for Alberta. The site aims to help all Canadians rent their homes and, in 2016, we expanded our reach to encompass all of Canada. RentFaster.ca has rapidly changed over the years as our knowledge of the rental industry and available technology has evolved. We strive to provide the most technologically advanced user-friendly site available by constantly updating with new features geared towards renters and landlords.

5. Realtor.ca
Realtor.ca manages both rentals and real estate sales. It only accepts listings from property managers and owners. The interface is a little less straightforward and attractive than sites like Zillow, but it provides a simple search function for price and location.

6. Padmapper
Padmapper has a fun, interactive map that allows prospective renters to set a price, set a number of bedrooms, and look at cities across North America that suit that price range. Renters won't see your actual listing until after the initial search when they dig a little deeper.

7. 4Rent.ca
Rent.ca is a subsidiary of Media Classified Corporation was launched in 2010. Since then, 4Rent.ca has connected rental property owners and managers with apartment hunters across Canada through high-profile print and web listings. Headquartered in Toronto, 4Rent.ca helps clients secure a larger market share and grow their bottom lines with high circulation magazines, comprehensive website search functions, integrated social media sharing, SEO copywriting, and much more.

8. Prop2go.ca
Site is dedicated to user friendliness and provides an up-to-date, easy to use Search tool that is designed to locate properties (apartments, houses, etc.) quickly and efficiently. Prop2Go will match your search criteria, such as amenities and price ranges, so that you can not only view written details of your results, but also view detailed photos.
Landlords can list your apartment, condo, house, real estate, land or commercial property in minutes and self-manage your account with little effort. Use site to rent or sell your property today using Prop2Go. Searching for a property? Find your next apartment, condo, house, land, or commercial property for sale, rent or lease on Prop2Go

9. Rentdigs
Rentdigs features free photo listings. Prospective tenants can not only find rentals, they can also find rent-to-own homes and moving company quotes. Rentdigs features a single photo and some simple information on the listing, so make sure your photo is a good one.

10. Rentals.ca
Rentals.com makes it easy for tenants to search for exactly the type of home they want, with searches compiled into condos, lofts, duplexes, and more. There's less information required about amenities, and it has your contact information and the availability flagged to press people to call.

If you are a local rental owner or a property manager at a property management company in Calgary, these websites would help you get the word out to maximum number of renters in your area.  How do you advertise your property rental and which platforms have worked for you? Do share your comments below!  

Now that you have decided to become a landlord, it’s time to do some homework so that you start off on the right foot. As they say, “Well begun is half done” Becoming a successful landlord involves a series of steps, each of which needs to be meticulously planned. Right from choosing the right property to financing the right tenant for your rental property, learning the rules of tenancy and then finally, creating a tenancy agreement, There is a lot that you will need to do to ensure success as a landlord. You will have to do a lot of research and learning before you can put up your house or apartment for rent. 

1: Know Your Objective
Understanding your end goal is the first step towards purchasing your rental property. If you consider rental property investment to support your retirement goals, it should be based on realistic expectations, your financial capabilities, chosen investment strategy, and the answers to the following five questions:

1. When do you plan to retire and how much money will you need in retirement?
2. What are your retirement income sources?
3. What is your budget for purchasing rental properties 
4. Are you looking to diversify your investment to reduce risk, maximize returns, or lower taxes?

The above questions will help you keep sight of your end goal as you begin to choose an investment strategy that works fits your needs, while considering your first potential rental property investment.

2: Talk to Other Landlords
Talking to a mentor who are invested in same area or types of homes that you are interested in can make all of the difference. You get to know more about a sneak peek in to the future you as a landlord have to deal with. This can be about renters and their needs, local rental market trends, a bad experience they may have had and what you could do to avoid that at the beginning itself! When you speak with other landlords, it is important that you keep their “investment bias” in mind. With this in mind, you can begin to find investors with similar goals along with extensive resources. 

3: Save for Down Payment
It’s important to consider how much money to save for a down payment. Ideally, you’ll want to have and it can depend on the mortgage rules in your province or federal rules. In Canada rental properties require at least 20  down payment saved before.  Some of the things that can help you save your rental property down payment in a timely fashion are:

• 1. Paying off any existing debt 
• 2. Set up an automatic savings deposit
• 3. Negotiating your rent or utilities bills 
• 4. Reducing non essential expenses
• 5. Taking on part time / weekend gig

4: Estimate Property Expenses
Before you purchase a rental property, it is important that you know all about the potential monthly, and unexpected, expenses that the property will experience. These potential expenses include: 

• Property taxes - This is based on a % of the property assessment value
• Insurance fees: This mostly fixed but more recently it has been increasing.
• Utility bills: Some rentals come with utilities included. These can be drastically higher for single family homes 
• Condo or HOA fees: If you purchase a condo or property under HOA, you'll have to pay their fees.
• Repair and maintenance costs: Typically you should set aside 3-5%  of the property value
• Rainy day fund: You should keep aside at least 3 to 6 months of mortgage payments as a rainy day fund in case of emergencies such as a large repair bill or for vacancies when your rental property is vacant while you are finding tenant

5.  Choose the right property
This is probably the most important decision you make that can have huge impact on your future outcome. As a potential landlord, your choice of property can make all the difference between a profitable and a loss-making rental business. The right property could give you a steady stream of tenants and a good rental income, whereas a poor choice could leave you struggling with the accounts with huge mortgage to pay off your pocket. While there is no one strategy that works for all landlords and all locations, that ever rental property type you decide eventually make sure that is backed up per your strategy. Many landlords like to invest in to rental property apartments and condos, while others prefer a single family homes or houses for rent to implement their thought out strategy. 

6.  Go With Property With Simple Construction
Choose a property with design and construction that is likely to appeal to most people, particularly the ones you are looking house to rent to. If the design is too fancy or jazzy, it may not appeal to a lot of people the reason is simple, most people like homes where they can see themselves with something with neutral shades and simple designs. Do not let your own personal preferences affect your choice. The more customized design and colors you rental property has, lesser it's chances to get tenants who can picture themselves in the home to rent it faster. Look for something that everyone will like. So, simple the construction the better it is. It gives the tenants a chance to style the house the way they like. So, simple the construction the better it is. It gives the tenants a chance to style the house the way they like. 

Also don't overlook consulting a property inspector before purchase the rental property to ensure all major hidden issues are known and considered prior to the property purchases. You don't want to be in a situation where you bought the property based on it's visible condition and cosmetic looks only to find out that you need to get the foundation, plumbing or electrical system redone later. Those expenses could eat up all your yearly rental income of your house for rent in some cases!

7.  Do your research
It is extremely important to spend some time learning about how to choose locations and rental properties, value them and evaluate the specific rental market you are in. Remember, the success of your rental business depends on your due diligence and buying the right property in the right location. These are the key decision points. Try to learn about what attracts tenants, what makes them move in or move out and how the rental market looks in the long run in context of your desired rental property location, budget as well as property type. 

8.  Find the Right Location
When looking for the right rental property, consider an area with plenty of amenities such as malls, restaurants, parks and schools, low property taxes, growing job market, and low crime rates. It is not necessary to look for a property in the most posh neighborhood of the city. In fact, neighborhoods with solid working class often make a great choice that yield consistently great returns on your investment dollars. Also no matter how good the neighborhood is, tenants will not want the house for rent that is not ready and prepared for renting. So, don't choose a rental property that looks visibly needing ton of upfront investment to bring it to rental condition, off course unless you got it at steep market discount.

9.  Buy at the right price
As Buying at the right price now will not only ensure steady income over time, it will also help withstand future fluctuations in property value.  A good starting point is to benchmark rental prices for similar units in the area and then weigh it against the mortgage, taxes, and utilities you will be paying. You need to have enough margins to pay all expenses and still have some profit left. Once you have calculated this margin, you can analyze every property against this amount. Higher the margin, the better it is. 

Any discount that you may get at this stage can make a huge difference to your ROI. So, try to get as much a bargain as you can. You may be tempted to buy a much cheaper house that needs maintenance thinking that you will get the repairs and renovation done. However, never do this unless you are sure that the effort and investment is worth it. Remember, repair and maintenance can turn out very expensive and the costs may eat into every penny you have saved in the first place. 

10.  Assess local rental regulations
Rental properties are required to meet a set of regulations set forth by local authorities. These regulations may vary across cities and provinces.  Make sure the property you are eyeing complies with the rental requirements. Look for any potential safety and maintenance issues. In major Canadian cities such as Calgary you do need special permit and ensure compliance with specific bylaws if you want to rent out basement suites. If rental property you bought has a basement but does not comply to the required bylaws, you can expect to spend great deal of money to bring the property in compliance before you can rent out the basement suite.

11.  Look for something closer to home
It is easier to manage your rental property if it is closer to your place of residence. If you live to far away, you may not be able to resolve issues quickly or even keep an eye.  There is no one-size-fits-all strategy that can help you find a great rental investment, but there are steps you can take to ensure that you make a sound investment. Basically, it’s about doing a lot of research and evaluating properties from all angles before making a choice. 

12. Avoid renting to Friends and Family!
One of the most common pitfalls for landlords is renting to someone from their own friends and family. In most cases they do that believing their rent and property is protected because they know them intimately. However when these renters starts paying rent late or don't follow the tenancy terms, it's hard for the landlords to enforce these rules without either having to jeopardize your friendship or relationship or being taken advantage of. This is a very bad place to be in! So stay away from renting to people in your close social circle unless you can really sacrifice that. 

In conclusion, there is no doubt that being a landlord can be an exciting and rewarding endeavor. If you keep these five things in mind, your renting journey will most likely be a pleasant one. Remember your property and income are at stake, so take care of your investment and enjoy the ride!

Richmond homes for sale; Hamptons houses for sale, Patterson homes for sale, Strathcona houses for sale, or Homes for sale Capitol Hill 
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LEASEWELL is a premier property services company in Calgary. We help landlords with all aspects of their rental property so you can focus on things that matter most for you. while we do the heavy lifting for you. Let us help you find great tenants and keep your rental in top shape to maximize return on your property investment. ​For more please visit our website www.leasewell.ca or contact us