What services do you provide?
We market, tenant, and manage residential properties. Bridging the gap between owners and tenants making sure both sides felt heard and taken care of.
What will it cost?
The initial cost is 1/2 months rent which is inclusive of professional photography, a professional 4 hour deep clean, an individual marketing strategy/package, and a minimum of 3 scheduled showings per week. The ongoing management fee is 7% (unfurnished) and 8% (furnished) of the rental income.
How to I pick one property manager over another?
Most properties managers tent to overload themselves making it hard for them to give quality customer service. A red flag would be a company or individual that doesn't respond or rushes emails and calls. This is usually because they are running ragged and too busy for you!
Do you take on the liability or do I as the owner if you take in a bad tenant?
The owner maintains liability but we can assist with the application for dispute resolution and the process with the Residential Tenancy Branch. We will provide all the evidence to prove our case such as emails, texts, etc. If the issue goes to court the owner will have to go as they are the legal owner of the property.
Do you collect payment directly from the tenant?
We collect all payments such as damage deposit, pet deposit, monthly rental fee, and any additional costs from the tenant if you choose to do full management. We take care of everything and send you the rental income electronically monthly which goes directly into the account of your choosing.
Do you do handle repairs?
Yes of course! We will try to do the repair ourselves to save on cost but if we need to hire a professional we have a team of trades we work with and trust who specialize in many fields.
Why shouldn’t I just do the property management myself?
There are many reasons why it's important to hire a professional for finding quality tenants and managing your home. When screening potential tenants we have the ability to run thorough background and credit checks which the general public may not. We look into their income, investments and savings to ensure they can actually afford the monthly rental costs. Our ever growing and trusted team of trades gives us the upper hand as we are always put on top of their priority list and given the most reasonable repair alternative and pricing. If there are any issues with the tenants we know the importance of having a trail of emails and proof properly documented which we maintain. We are also veteran to tenancy situations where we would need to start the process of applying for dispute resolution and go through the Residential Tenancy Branch to resolve problems. This can be a lengthy process and requires much attention which we can provide.
Do YOU own one or more investment properties?
I recommend you speak with a property manager and they can answer any questions & show you how they add value to your investment portfolio. Feel free to connect directly with Penman Properties at 604-685-5951 or info@penmanproperties.com or contact me & I can make a personal introduction!