The latest news from the Canada Real Estate Club Team

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AF Andrea Ford December 03, 2018 687   0   0   0   0   0
Your tenants are the golden geese that provide you with a monthly golden egg, and your investment property is the nest they live in. Whether you manage your own property, are part of a rental pool with professional management or are an individual with property management in place, it’s important to keep your tenants happy and convert them into long-term tenants – what I like to call residents. Using the term ‘resident’ signifies a difference in the way that both the tenant and the landlord view the property. Generally, residents consider their dwelling to be more like their own home, and with that comes pride in your property. When I was a tenant (before I was a landlord), I found that when I was considered a resident, I was treated with more respect and, in turn, wanted to stay longer and treated the property with more respect – even though I was just renting. So, as a landlord, it’s in your best interest to elevate how you view and treat long-term tenants. Having quality long-term residents can minimize wear and tear on your property, as well as reduce turnover and the need to advertise, interview and vet new tenants (thereby saving you time and money). To achieve this type of relationship, and reduce many of the issues and hassles associated with real estate investment, follow my top 15 tips to keeping your tenants happy. 1. ...
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Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing April 17, 2018 1410   0   2   0   0   0
{JoomFuse FirstName} Real estate delivers better returns than the stock market[1] does, but modeling returns requires critical thinking and a lot of due diligence. The better our due diligence, the better our models, the greater the access to capital. What makes commercial real estate such a unique asset class is that every investment is different and our due diligence needs to adjust accordingly. When it comes to due diligence, information costs money and therefore must have a return on investment. In this article, I discuss the decisions that real estate investors face when it comes to physical due diligence—think environmental site assessments[2], property condition reports, BOMA surveys, ALTA surveys, seismic risk assessments, and the like—and how to wring the most return on investment out of the process. Who should direct the due diligence? A questions I often get asked is: should the seller do pre-disposition due diligence? For most transactions, the buyer performs due diligence assessments at their own expense. However, on large transactions where the broker expects the buyer pool to be large and competitive, I believe that the seller is well-served to provide a full due diligence package at listing. In this case it pays to proactively reveal any issues and hold the asset out for auction “naked to the world.” Because in a competitive bidding process, buyers will discount any imperfections and focus on key economics. With a large data room it is difficult for...
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