Rental Management Experts provides advisory and personal assistance in the management of rental properties in Calgary. With 13 years of experience as investors (started in 2007), we have been through the boom and the bust years and have weathered the storm while others have faltered. We’ve accomplished this by leveraging our local real estate expertise / experience / network, adhering strictly to best practices, and following a disciplined / diligent approach to project management. We understand that there are areas that can be capitalized on during the boom years and a paradigm shift that needs to happen in order to weather the storm during the troughs and that following through on these strategies can mean that difference in the investor’s pursuit to stay profitable.
1. Get the suites rented, eliminate vacancies
2. Make sure the rents are above market value
3. Foster great relationships with the tenants and keep the great ones as long as possible
4. Be proactive in managing issues and risks
During the 2015 to 2020 challenged residential investment market in Canada, due to these guiding principles, we achieved the following :
1. Vacancy rate of 0.06%.
2. Increased our new customers’ rents by 8.06%.
3. Obtained rents that are 13.58% higher than market value.
4. Filled 87% of scheduled vacancies before the previous tenants left
5. Filled vacancies in 30 days.
6. All these while keeping our costs down to as low as 7.5% of the monthly rent (compared to 12% average in Alberta)
We understand your needs as a property owner because we are investors first – nationally recognized with awards from the Real Estate Investor Network and full article features from the Canadian Real Estate Magazine. We have been investing in Alberta since 2007 and have been through the peaks and troughs of the real estate investment cycle. We understand that it is not 2005 / 2014 anymore which means that the 25% rental increase every year is a thing of the past and systematic management of your investments needs to be based on local experience, best practices, solid project management. If you are an investor in this market, you need to make sure your properties are fully rented and are getting above-market rents via a solid marketing plan. You need to be pro-active in keeping the great tenants happy and phasing out the problematic ones by utilizing a strong tenant tracking system which is laser focused on bringing you this outcome. You need to take action.
Remember, difficult problems do not go away when ignored. If you are interested in doing this to your property / portfolio, give us a call and let’s chat about how we can help.