Author: Nolan Kowalchuk

What you should be looking for in a great landlord?

What you should be looking for in a great landlord?

How many times have you heard the comment, especially from a landlord – How do I find the best tenant. As a tenant, the thought process should be the opposite – How do I find the best landlord? Here are some suggestions that you should consider when looking for a property and what you should ask your landlord to see if he is the one for you!

Question 1: Does your potential landlord belong to any credible professional organizations – like the Calgary Residential Rental Association?

This increases the probability that your landlord is familiar with the tenancy act and all regulations pertaining to renting. At Kowalchuk Airdrie Real Estate Rentals, we belong to many organizations including the Calgary Residential Rental Association and REIN (Real Estate Investment Network).

Question 2: Is the landlord using and providing a proper tenancy agreement that clearly outlines the length of the tenancy, the amount of rent, when it is to be paid, any deposit details, and the obligations of both parties?

Remember, this agreement not only protects your landlord, it protects you as well so make sure it includes all parts of your tenancy understanding in writing, for your protection as well.  At Kowalchuk Airdrie Real Estate Rentals, we use a lease agreement that standardizes all of these aspects, clearly lays them out and is in compliance with the Alberta residential tenancy agreement.
 

CRRAlogo REINlogo

Question 3: What type of maintenance plan does your landlord employ?

This question may catch him off guard but will give you a good idea on his attitude towards maintenance etc and how manages these properties. At Kowalchuk Airdrie Real Estate Rentals, we have a standard maintenance plan that we utilize on all our properties to ensure we can catch issues before they arise!

Question 4: Is your landlord a Corporate landlord?

When you rent from a corporation that owns many properties, there are plenty of pros and cons.  Generally corporations will own many properties that may be sold frequently. The company managing the property on the day you move in might change while you’re living there.

If you’re looking at a larger apartment complex, find out who owns the property and how they manage it. You can learn these details by making a call to the leasing office or checking the property’s web site (if one exists).

Large corporations are most interested in a profit and they are more likely to raise the rent significantly when your lease is up because a single vacancy isn’t a huge loss to them. They also do not know you personally and will have little sympathy if the significant rent increase is suddenly far beyond your means.

At Kowalchuk Airdrie Real Estate Rentals, we are centered on providing luxurious renal accommodations in Airdrie – professionally and ethically managed. We believe in a strong focus on customer service and long term tenant satisfaction. At Kowalchuk Airdrie Real Estate Rentals, we manage and cater our operations to ensure long term tenancy.

Question 5: Do you know your landlord?

Before signing the lease, ask a few questions about them and their philosophy on property management. Find out what’s most important to them so you know before moving in. If you’re planning to rent from a single-unit owner, feel free to get more personal. Ask them why they’re renting, what they do for a living, about their interests, and so on. Renting is entering into a business relationship You are just two people, so having a normal conversation to get to know each other is completely reasonable.

At Kowalchuk Airdrie Real Estate Rentals, we are local to Airdrie and take great pride in getting to know all parties in our business relationships.

Please let us know what questions you would ask your landlord and what you think makes a great landlord? Also let us know what you would consider to be a BAD landlord?

Should I rent or should I buy?

Should I rent or should I buy?rvsb

This is a common financial question that all Canadian consumers have to consider and deal with at some point in their lifetime. Whether it is a first time home or it is an established couple who is facing a transition period in their life, it is always an interesting debate.

There are many factors which need to be considered for both renting and buying, including understanding all the financial responsibilities for both,  the risk vs. reward, the emotional factors which are crucial to this decision process, since for most consumers, purchasing a home is the largest investment of their lifetime.
Please find links to the following articles that will allow you some further information to consider when making the decision:
Edmonton Journal Buying vs. renting
http://www.edmontonjournal.com/business/rent+question/7949112/story.html

Canada Living 4 reasons to buy vs. renting
http://www.canadianliving.com/life/money/4_reasons_to_rent_a_home_instead_of_buying.php
http://www.canadianliving.com/life/money/5_reasons_not_to_buy_a_home.php
http://business.financialpost.com/investing/why-its-better-to-rent-than-buy

Please find a link to the Global news Rent or Buy Calculator to help consumers compare the costs associated with renting vs. buying. This is a great calculator to use to decide whether to rent or buy your next home. Renting can save you sizable dollars per month, over a 5 year duration, and that is before factoring in any of the potential returns that you may receive from investing your down payment in RRSP’s, TFSA’s etc!
Do not forget the risk associated with a declining housing investment (today’s reality), CMHC fees, if you are not prepared to put 20% down. Renting allows you to have great new places ( because you can move every five years), no upkeep expenses and no future renovation expenses. Anyway, have a look at this calculator and hopefully it will be of some help to you!
This is the link to the calculator:
http://globalnews.ca/news/2563940/should-you-rent-or-buy-this-real-estate-calculator-will-help-you-decide/?sf22165018=1