Its about to get hairy this Movember

Without a doubt this year has been challenging as we continue to learn and adjust to the word changing events thrust upon us. Over the past couple of months we have learned that by working together we are stronger as collaboration and community effects positive change.

The EmeraldMos are once again joining together to give back, have some fun and help connect with others to help make a difference for the men in our lives. Our goal is to help raise funds and awareness for mental health and suicide prevention, prostate cancer and testicular cancer.

Last year, the team initiated a variety of fundraising efforts that resulted in a donation of over $2000 to Movember Canada. The team has started a little early this year and (weather permitting) a drive by the Emerald Management & Realty Ltd. office on 10th Avenue SW, Calgary will provide a sure “sign” that our property management organizational efforts are in full swing!

Now, you don’t have to grow a Mo to help out …. you can also support our moustache enthusiasts accomplish their goals by contributing to their efforts by checking in at our office and social media to see what we are up to. Our team would love your support and you can easily donate today HERE (and get your tax receipt directly from the Movember Canada!)

We are going to kick off this year with a bottle drive. We will be collecting the bottles closer to the end of November, but we hope everyone starts saving now! You can bring them in when you feel you have collected all you can and we will bring them to the bottle depot and donate all the money raised to Movember!

From the entire team of MoBros and MoSistas at Emerald Management & Realty Ltd.

THANK YOU for your support.

Your Responsibilities As A Condo Owner

When you own a condo, you can reap the convenient benefits of a maintenance-free lifestyle similar to that of apartment living but you have your name on the title — all while sharing ownership of the common areas. Amenities are also often abundant for most units as most condominiums are relatively new to our market, with air conditioning, landscaping, modern kitchen appliances and laundry included in most properties.

Condo living is available for everyone: from first time homeowners, working professionals, families and seniors. There are some communities or buildings that are childfree, so be sure to do your research!

Usually, Condo Board of Directors, (as it’s commonly referred to in Alberta) are elected by you and the rest of the owners of the condominium corporation community — and must be composed of at least two-thirds owners or mortgagees within your community. The Condo Board typically sees management from a governance perspective and leaves the day-to-day operations to a property management company.

However, as with most living situations, there are caveats of owning a condo. Living in a condominium unit isn’t like owning a single-family home.

Here are just a few of the regulations that you’ll be expected to follow:

Follow your condo’s, bylaws and rules

Condominium owners are subject to contributions (commonly referred to as condo fees) — which include costs for insurance, professional tasks, exterior repairs, maintenance of items such as siding and windows and landscaping, and funding the Reserve Fund. Failure to pay them on time, can result in being charged interest, or in extreme cases: legal issues or even foreclosure.

Condo owners are also responsible for looking over and understanding all documentation on bylaws provided to them by their Board of Directors. This includes important resources like board meeting minutes, insurance certificates and notices advising of specific changes in your community’s day-to-day operations. Voting and the administration of the Owner vs. Board of Directors is outlined in the Condominium Act of Alberta.

While your province’s specific guidelines can vary, common bylaws include condo owner insurance requirements, pet restrictions — commonly weight restrictions or certain breeds disallowed. Noise level restrictions are also common, with quiet hours sometimes enforced.

Failure to comply with these bylaws and regulations can and will have consequences for you as a condominium owner , so we suggest you ensure that you’re knowledgeable on all bylaws and any new developments with your particular building or condominium community.

Repair and maintain the unit

Some may not be fully aware, but you are 100% responsible for all plumbing, appliances, fixtures and wiring in your condo unit (unless its defined as common or management property. Another good reminder to understand what is in your bylaws!)There’s a common misconception that just because you pay condominium fees or perhaps live in an apartment style building that your internal maintenance will be covered. Be sure to consistently keep your unit in good working order, with all plumbing and wiring issues attended to as soon as is reasonably possible.

Other responsibilities

Your guests can also be subject to regulation — specifically, the number of nights a guest is allowed to stay over consecutively. Rules regarding guests have been a source of light controversy, but this is mainly in place to avoid too much noise or as a reminder that owners are responsible for their guests when on common or managed property. Some legislative bodies have also placed restrictions on numbers of people allowed during COVID-19 as a health and safety measure.

Your exterior space can also subject to some restrictions — particularly hanging clothing to dry, barbequing and hanging decorations.

Most communities have regulations on renting your , but most allow it on the basis that certain standards are met and to be in compliance with Human Rights legislation. In the same vein, use of your condo as an AirBnb usually is not permitted, although specifics on this can be verified with your Board of Directors.

Call your Calgary property management experts today!

Our team at Emerald Management & Realty Ltd. is more than ready to help Condo Boards and Condominium Corporations address their Condominium management needs. . We service Condominiums in Calgary, Airdrie & Area Our property management offerings can be tailored to fit your condo community.

Give us a call at (403) 237-8600 or contact us today to learn more about how we can help you with your next steps!

Top Tips for New Landlords

Getting your first investment property and transitioning from being a tenant or an owner to a landlord is an exciting change! However, first-time landlords might find that getting the right tenant and navigating through the rental process can be much more complicated than it first seemed.

Here are some of the tops tips for new landlords to keep in mind when renting out their first property.

Screen Tenants Thoroughly

Screening tenants is probably the most important stage because making the right choice can set you up with a long-lasting and beneficial relationship. Making the wrong choice can lead to problems and unexpected costs. Errors in judgement do happen as human behavior can be challenging to predict — but taking the time to screen prospective tenants is worth its weight in gold!

Assessing whether or not your tenant is able to pay rent in time is a priority and there are legitimate ways to go about this. Asking questions about employment is a good start. Reference letters from previous landlords can also offer quite extensive insights. Finally, checking their credit history can provide a clear picture as to whether or not they can cover the rent.

In addition to financial inquiries, there are other questions landlords should ask to see if the tenant is the right match. These include:

How long tenants have lived in their previous home
If they pay their rent on time
What their reasons are for moving out
How many people they will be living with
If the tenants smoke
If they have pets

Another important inquiry to check is to see if the tenant has received their full security deposit at their previous residence and, if not, what sort of deductions they incurred. A quick online search can also be performed to see if they have had any issues or have left negative reviews because of being evicted, being charged for not cleaning, having outstanding rent, etc. when having moved out from their last residence.

Familiarize and Follow Appropriate Laws and Regulations

The terms of rents are regulated by rental agreements as well as applicable laws, such as the Residential Tenancies Act. These regulations define landlord rights and obligations as to:

Making necessary repairs and maintenance
Providing for uninterrupted supply of utilities
Timely notices
Rent increases
Evictions
Security deposit

Although many of these regulations are common, some of these may vary by province. For example, in Alberta, landlords can use the security deposit to cover the costs of damages or cleaning when tenants move out. This would not be allowed in Ontario.

A licensed property management company will be aware of the local regulations and be able to provide the right expertise and relationships with attorneys to ensure compliance.

Take Advantage of Extra Income Opportunities

As any rented property is an investment, landlords should maximize all of its opportunities. For example, separate storage spaces are great amenities for tenants with bikes/many belongings and should be charged extra. Other opportunities include shed, garage, or parking spaces.

Professional property managers will be knowledgeable of current market conditions and can assist you in maximizing your rental income potential.

Know What Resources Are Available to Landlords

Landlords can get more valuable information and advice when participating in landlord associations available in their province. These non-profit organizations were created with the purpose of educating landlords about their legal rights, providing them with the best strategies and showcasing any available opportunities.

Another option is to hire a professional property manager who will take care of most issues while providing valuable tips to new landlords. Having a real estate professional by your side when renting out for the first time can help you build confidence and experience.

Contact Us Today!

At Emerald Management & Realty Ltd., we have been assisting landlords and providing property management services for several decades. Our professional team works with apartment units, houses, condominium corporations and commercial property.

We are happy to provide you the full gamut of our inclusive services — such as more landlord tips, tenant screening, rental agreements and settling any issues which may arise during the lease. Don’t hesitate to contact us today — we will be happy to bring you the right tenants and peace of mind.

Why Use a Property Manager When Renting a House?

Most of us rent for a long time before we can afford to buy a house. Even though renting is not the same as owning, it’s still important to lease a place that we like and feels like home. But looking for property to rent can be difficult and long-winding, causing us an immense amount of unnecessary stress.

A way to ease the process of finding a rental home is to use a property manager. Many people think that property management companies are only necessary when after you find a place to live , but the truth is that there are many benefits to using one when you want to rent too!

So, why use property management for a house rental? Read on to discover why they’re a great choice and what advantages they bring to the table.

Licensed Brokerages Have Years of Experience

For normal people, trying to navigate the rental market can be like a minefield. Contracts are confusing, and as tenants, we often don’t know what we’re entitled to. A property manager, on the other hand, knows all of these things and can help you get the best deal.

Property managers and leasing agents have fantastic inside knowledge of their local areas, ensuring they can find you a place in the best locations. Their industry experience also means that they’ll know which documentation you require and can be realistic about what properties you can afford within your budget. When you hire property management, your fee for a rental house may end up being exactly what you’re searching for.

Working with a property management company with in-house leasing agents will save you a lot of time and effort as you search for a rental within their own portfolios of units for rent. Leasing agents and property managers will also work with you to ensure you get what you want. The property market is fast-moving and competitive, with many people going after the same property.

As soon as you start looking for a new rental home, you should connect with a property management company or one of their leasing agents to help get a head start on new leads as soon as they become available. This will give you the opportunity to book house tours that work around your schedule. You can also visit their website and monitor what is available and what meets your list of needs and wants.

Searching for a property is time-consuming. But for leasing agents, it is their job. So, if you don’t have time to look yourself, let an agent work with you! They can compile a list of potential properties for you and recommend the paperwork you will need to have. That way, you’ll be organized and ready to act if you find a rental property that works for you.

No-Risk of Scams

Finding a property to rent online is easy, but comes with many risks. Often, these properties aren’t rented with legal contracts, meaning that your rights as a tenant aren’t protected. In Alberta, landlords must pay a specified yearly interest rate on security deposits, which is then returned to the tenant once the rental agreement ends. Unless you have a legal contract through a rental agency, it’s unlikely that you’ll experience the benefits of this.

Finding Your Dream Rental

If you’re searching for a rental property and want to use a trustworthy leasing agent and property manager for a rental house, get in touch with us at Emerald Management & Realty. Our team of experts in Calgary, Alberta is happy to help you with whatever you need. Drop us a line at 403-237-8600 or get in touch via our website.

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