Call Us Today! 613-231-3872

 

WHY CHOOSE CITYVIEW


Owning a multi-unit residential building is a good long term investment. The real estate values increase over time and the units provide a steady stream of income. But like all investments, there are challenges ranging from high vacancy to capital improvements and repairs right through to tenant collections.


There can be good reasons for hiring an experienced professional manager who is up to date in all aspects of management including the latest in advertising, leasing, capital improvements, and even collections.


In certain cases, day-to-day management can become burdensome and many landlords simply don’t have the time to manage a building without help.


In other cases, a property manager can help landlords that are scaling back or retiring and therefore need to create a succession plan for the next generation. The children want the building for the investment value, but they don’t want to manage the building or deal with tenants on a day-to-day basis. Frequently people inherit a building, but they already have their own career and don’t have time to manage a building.


Then there are investors who are new to the multi-residential business. They want to invest in multi-residential housing, but they don’t know anything about managing a property or they don’t want to deal with the investment on a daily basis.


Another motive for seeking professional help is the rise in vacancy rates. Good tenants have moved to take advantage of low interest rates and purchased a home. Or tenants have been lured away to other buildings by competitive pricing, upgraded apartments or incentives other landlords are offering. Landlords, who in years gone by, had no difficulty maintaining high occupancy levels, now find they have an aging building with higher vacancy rates.


The old ways of ‘don’t renovate or advertise’ don’t work with today’s renters. They want apartments in move-in condition and are more likely to surf the net for an apartment than to write down a phone number from a lawn sign. A property manager can prepare a marketing plan to study the demographics of the area and find the right advertising media to attract new tenants. Often that involves web-based advertising and cultural publication, rather than relying solely on mainstream newspapers.

 

In order to attract and keep tenants, a property manager can develop a plan that promotes a positive image of your building to prospective tenants. Steps sometimes as simple as cleaning and painting common areas and putting in new landscaping will give that first good impression and help to reduce turnover of existing tenants. Vacant units need to be assessed and renovated so prospective tenants will have a clear example of what to expect. Promises of upcoming improvements don’t cut it with “show-me” renters.


In metropolitan areas landlords are facing the challenge of an increasingly diverse population. New Canadians are a growing tenant base and for many of them English is a second language. A property manager with a broad portfolio has access to a larger pool of helpful people who speak languages other than English.


Economies of scale are another area where a property manager can become a real asset. Access to bulk buying power increases profits. Price breaks from suppliers are passed on to the building owner. Making deals with companies that supply services such as cable or laundry to your building can add incremental revenues. And typically, a property manager will get a price break from trades . With high volume, contractors are willing to quote lower prices. And, given the volume of work , contractors are keen to develop a long-term relationship and provide good service to your building and your tenants.


Most property managers utilize cost-control and property management software as a tool to track and develop management strategies. This can include a budget for the building, which allows the owner to assess how the building is performing in both the short-term and long-term. In the short-term, you need to know that the rent is up-to-date and the bills are being paid. In the long-term you need to estimate and provide for capital expenses and building improvements. This provides a basis for planning increased revenue and value while boosting profitability and efficiency.


Another important service a property manager can offer building owners is legal and collection services. For instance, if a tenant has not paid their rent or engaged in bad behaviour, a property manager can immediately commence legal action. The proper action at the right time keeps vacancy rates down.


While management fees always appear on the expense side of the operating statement and are certainly a cash outlay, it can be misleading to consider them a “cost”. In today’s market a good professional property manager is, in reality, an investment in increasing the value of your property.

SERVICES


Our full service residential property management service essentially means we manage all aspects of your building
and you receive a full accounting statement at the end of
each month. Our portfolios include many out-of-town and
out-of-country clients.

Supplemental Services


Renting Only

advertising - showings

credit & background checks

application - leases

apartment preparation


Applications to The Residential Tenancy Board

Evictions, guideline increases, etc.


Repair Management

Major renovations

24 Hour back-up service for negotiated time periods

Our management contract is
personalized to meet your needs

Copyright © 2012 | Cityview Rental Services | All Rights Reserved

Call Us Today!

613-231-3872

For over 30 Years
Cityview Rental Services 
has been providing peace 
of mind quality and quality property management services to local and 
out-of-town owners

Gabby Horan 613-231-3872

gabby@cityviewrentals.ca

Daniel Horan 613-255-6494

Info@citviewrentals.ca

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