ow To Invest in Calgary Real Estate For Better Returns? 

One of the best investments you can make nowadays is definitely in real estate. With the right vision and ideas, you will be able to take things to the next level and make better returns from investing in Calgary real estate market buying income generating rental properties. If you are first time home buyer with smaller budget, investing in a condo and apartments can be an option. The idea is to know how to do it, when to invest and what cautions you need to have in mind selecting a rental property in Calgary's real estate market.

Question: Is Investing in Real Estate A Good Idea?
The reason is simple, real estate is one of the few industries where prices mostly go up in long term because it is a tangible asset that appreciates over time. You will notice that in most major Canadian cities be it Toronto, Vancouver or even pockets of Calgary, single family homes, townhomes, condos and apartments prices have appreciated year over year.

On top of that, rental property in Calgary or in any other markets can provide you steady cash flow income while you provide a shelter to someone or a family. Even after global pandemic last year, the prices of real estate in Canada overall have largely gone up. It’s the best way for you to make money in the long term, and the return on investment considering its stability, can be great.

Must Do Your Homework!
Yes, you still need to study the market and find the right investment opportunity, so you must do your own due diligence and be clear what you are looking for. Avoiding typical pitfalls such as buying in a cheap neighborhood that lags decent appreciation or rental rate, or ending with a property that has structural issues or just paying too much will be a great starting point to steer clear of.

End of the day, the property must check all the tick boxes to be a good fit for an income producing rental property and something that also appreciates in long ter. 

Real Estate Investment Tips
Here are top 10 tips to help you start on the right footing when you are ready to invest in Calgary real estate for income producing rental properties for better returns and lower risk. Working with an experienced Calgary realtor or a property management company in Calgary can make a great difference in ensuring your end goals are appropriately met.

1. Estimate Your Affordability 
It’s important to realize that rental property prices in Calgary real estate market can vary quite a bit depending on type, location and proximity to amenities. Study your credit rating, savings for down payment and additional costs that can increase overall your investment property costs. Some of the costs element to consider can be registration, brokerage, stamp duty, advocate fees, administration charges, even loan processing fees.

All of these can add up when you buy an investment or rental property in Calgary. That’s why you want to pay attention and prevent any problems shooting over your basic budget. That can make a huge difference over all in terms of profitability and actual returns you get from investment property. You can check your mortgage affordability using this nifty Mortgage Calculator!

How Tenant Eviction Process Works In Alberta
LEASEWELL is a premier property services company in Calgary. We help landlords professionally market and manage of their rental property for more money and less hassle. We hold their hand through out the rental and property management process and keep their rental in top shape to maximize return on their rental property investment.

One of the most important steps in rental process is to find great tenants and sign on a lease agreement for the rental property. Due to variety of reasons some time tenant and landlords find area of disagreement and either of the parties decide to start the eviction process.

The eviction process can be started by either of the tenant and landlords based on applicable grounds. It is important for both the tenant and landlords to understand the process, the situations that can be ground to initiate this process and their respective rights in the process. For the benefit of both tenants and landlords, here we illustrate the process and details laid down in Alberta by the provincial government. 

 The eviction process in summary
Tenants must be served a written notice that states the reason for the eviction and the date the tenancy is to end. 
Tenants can dispute an eviction, unless it is for unpaid rent. If the tenant objects to the reason, the landlord must go to the Residential Tenancy Dispute Resolution Service (RTDRS) or court for an order terminating the tenancy and to get possession of the premises. Both parties can present their arguments to the RTDRS or Court.

At any time, a landlord and tenant can agree between them to end the tenancy by a certain date and save the expense of taking the matter to RTDRS or Court. For more information, see the Residential Tenancies Act and Regulations.
 
Reasons for eviction
The most common reason for an eviction is when a tenant fails to pay rent. Tenants can’t withhold rent to force the landlord to do something, such as making repairs. The landlord is legally entitled to have the rent paid in full when it’s due. If the tenant cannot pay the rent and lets the landlord know beforehand, the landlord can let the tenant stay and pay rent later or over time.

However, the landlord is under no obligation to do this. Other reasons for eviction include:

• Breaking rental agreement terms
• Damaging the rental premises
• Disturbing or endangering others in the rental premises

Types of notices
There are 3 types of notices, and each one is used in a specific situation:

1. At least 24-hour notice
   • Used in the event of significant damage to the premises or physical assault or threat to physically assault the landlord or another tenant
2. At least 48-hour notice and at least 14-days notice.
   • Used in the event of an unauthorized occupant. 
3. At least 14-days’ notice
   • Used in the event of a substantial breach

All notices must:
•        Be in writing
•        Be signed by the landlord or the landlord’s agent
•        State the rent due and any rent that becomes due during notice period
•        State the reasons for the eviction
•        State the time the tenancy ends


All notices for unpaid rent must also include:

• A statement indicating that the tenancy will not be terminated if the tenant pays the rent due—and any overdue rent payments—on or before the termination date specified
• A 48-hour notice to unauthorized occupants does not have to include the reason for the eviction.
• 48-hour and 24-hour notices must also state the time the tenancy ends.

Substantial breach
If either the tenant or landlord does not fulfil the responsibilities in the residential tenancy agreement or under the Residential Tenancies Act, they may have committed a substantial breach.
 
Substantial breach by tenant : 
A substantial breach by a tenant may result in an eviction, and includes if the tenant

• Hasn’t paid rent in full when due
• Interferes with the landlord or landlord’s employees
• Disturbs other tenants (for example, by playing loud music late at night or being noisy)
• Endangers others in the building
• Causes significant damage to the residential premises
• Doesn’t maintain or keep clean the residential premises and all property included in the residential tenancy agreement
• Doesn’t vacate the premises when the tenancy ends

If a tenant commits a substantial breach, the landlord can apply to the RTDRS or Court to end the tenancy, or give the tenant at least 14-days’ notice to end the tenancy.
A tenant must be given the notice at least 14 clear days before the tenancy is to end. This means the day the notice is given and the day the tenancy ends don’t count as part of the 14 days.
 
Substantial breach by landlord
Whether the tenancy is fixed term or periodic, a landlord may commit a substantial breach when:

• The premises aren’t kept in a condition that meets minimum housing standards under the Public Health Act and regulations and
• An executive officer issues an order under section 62 of the Public Health Act and the landlord hasn’t complied

Tenants can give at least 14-days’ notice to end a tenancy if they believe that the landlord has committed a substantial breach. The notice is void if the landlord objects in writing within 7 days of receiving the tenant’s notice, as long as the order has been complied with or stayed.
 
Assault or threats
If a tenant assaults or threatens to assault a landlord or another tenant, or does significant damage to the residential rental premises, the landlord can:

• Apply to the RTDRS or Court to end the tenancy, or
• Give the tenant at least 24-hour notice to end the tenancy

The landlord may pursue the tenant through the RTDRS or Court for any damages not covered by the security deposit.
 
What if the tenant does not leave
If a tenant has been given a 24-hour notice but does not move out, the landlord has 10 days after the tenancy ends to apply to the RTDRS or Court for an order that confirms the tenancy will end. If the landlord does not apply to court within 10 days, the notice is void and the tenancy hasn’t ended.

Unauthorized occupants
 - If tenant lives on the premises

• If someone who is not listed in the tenancy agreement is living in the residential rental premises, the landlord has the right to give that person at least 14-days’ notice to leave.
• If the person does not move out within 14 days, the landlord can apply to the RTDRS or Court for an order for that person to vacate the rental remises.

 - If the tenant has moved out

• If the tenant has moved out and an unauthorized occupant is living on the rental premises, the landlord can give them at least a 48-hour notice to leave.
• If the occupant does not move out within 48 hours, the landlord can apply to RTDRS or Court for an order for recovery of possession of the rental premises.

 
Responding to notice 
 - For Landlords;
A 14-day notice is void if the landlord objects, in writing, within 7 days of receiving the tenant’s notice, as long as the order has been complied with or stayed.

 - For Tenant;
If a tenant objects to the reasons stated for the eviction in a 14-day notice, they must:

• Give the landlord a written explanation of why they disagree
• Give the written objection to the landlord before the 14 days are over

If the tenant objects or doesn’t leave at the end of the 14 days, the landlord can apply to RTDRS or Court for a court order to terminate the tenancy and get possession of the rental premises. Until RTDRS or Court issues the order, the tenant may remain.

Fore more details contact the Consumer Contact Centre can provide information on many topics related to landlords and tenants: Phone: 780-427-4088 and Toll free: 1-877-427-4088   | Source link: Alberta.Ca
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LEASEWELL is a premier property services company in Calgary. We help landlords with management of their rental property more profitably and hassle free way. Let us help you market your rental property to match with great tenants and keep your rental in top shape to maximize return on your rental property investment. ​For more please visit our website www.leasewell.ca or contact us at info@leasewell.ca

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.