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Property Manager

HOW TO SELECT PROPERTY MANAGER

How to Select Property Manager Initial Research The first question to ask when choosing a proper property manager for your rental property is whether the brokerage and the property manager are licensed and insured by REEOIC. This will make sure that you are dealing only with someone who you can trust your property with and…

How to Select Property Manager

Initial Research

The first question to ask when choosing a proper property manager for your rental property is whether the brokerage and the property manager are licensed and insured by REEOIC. This will make sure that you are dealing only with someone who you can trust your property with and not a crook who may walk away with your rent. You should always check with Real Estate Council of BC if the brokerage is licensed for property management and have licensed managers.

Specialization of the Property Management Company

While some companies have the capacity to do full service property management for industrial, commercial, strata, and residential rental management, most boutique brokerages will serve only a part of that. If you own a second house or condo or suite, your interests will be served best by a company who specialize in residential rental properties. Such a company should be extremely familiar with the Residential Tenancy Act and other legislation to properly address residential tenancy related issues.

Rent Assessment and Setting Rent

A local property management expert should be able to provide you with a rent assessment or rent report detailing comparable rental properties specifically for your unit. A prudent property manager would want to visit your rental place before they give you a number. They will discuss strategies available for setting the rent with you and allow you to choose the option.

Tenant Screening

You are hiring the property manager for their knowledge and experience in finding good tenants. While you should trust them at this stage, it is recommended that you ask if they have paid a trustworthy credit report bureau to order a credit check on tenants and if references are required.

Rent Collection

A property management company that can provide tenants with multiple options of payment methods will have higher efficiency in collection rent. Payment options such as cash or cheques are valid forms of payment, though they may have more issues than online debit payments. There are also a few property management companies that can take credit card for rent collection.

Inspections, Repairs and Maintenance

You would want to know what system are in place for repairs and maintenance. It is also important to know who conducts the inspections and how frequently inspections are done.

WHY CHOOSE US?

What is Yolk Home Rental? Yolk Home Rental is a customer centric property management company that specializes in providing property owners a stable stream of income from long-term tenants. We deliver the highest performing results for our clients. We pride ourselves on the quality of work we carry out daily for our clients and renters….

What is Yolk Home Rental?

Yolk Home Rental is a customer centric property management company that specializes in providing property owners a stable stream of income from long-term tenants. We deliver the highest performing results for our clients. We pride ourselves on the quality of work we carry out daily for our clients and renters. By choosing our licensed brokerage that has efficient systems developed for property management, you are a step ahead in realizing your financial goals.

Simple Communication – Always Available

What differentiates us from other property management companies is that we make communication easy and always available for owners and renters.

Our fee structure is simple and competitive. It is 40% of a month rent for finding you new tenant and 8% for managing your unit with a minimum of $100 per unit. There is a $50 setup fee. No other fees involved.

Our 24/7 hotline is always available for owner and renters. We have night shift staff who can take care of emergencies even at 3am. Owners have access to their own accounts through Owners Portal to make requests and view financial statements. On the other hand, our Tenants Portal allows renters to make maintenance requests and view important rental documents.

Professional Standard – Always Ethical

We are committed to a high standard of professional service and a strict code of ethics. Being a competent property management company, we offer true values for owners and renters. We always treat every owner and renter with respect and follow the Human Rights Code.

We are resourceful and always update our staff with the latest issues, laws and regulations affecting residential tenancy. Our carefully drafted Residential Tenancy Agreement and other important documents are aimed to ensure that owners’ interests are protected and that these interests do not run against the laws.

 

Dedicated Attitude – Always Focused

We are dedicated to a very high level of the quality of service. We take tenant screening seriously and make sure a valid credit score is purchased at our cost for owners’ benefit. We provide valuable information in our Owner Manual and Tenant Manual. We conduct inspections once a year to ensure your property is in good shape. In addition, our experience in handling problems in a tenancy relationship and skills in coordinating repairs and maintenance issues allows you to have a successful rental business and a peace of mind. Ask about our add-on services such as Officer Inspection Package.

 

EXPECTED EXPENSES

Before We Can Manage Your Property As owners of rental properties, you are running a business. You should expect that there will be costs in maintenance and repairs to ensure that your properties are kept in good shape while providing a safe and comfortable home for the renters. As your property management company, Yolk Home…

Before We Can Manage Your Property

As owners of rental properties, you are running a business. You should expect that there will be costs in maintenance and repairs to ensure that your properties are kept in good shape while providing a safe and comfortable home for the renters. As your property management company, Yolk Home Rental strongly recommend that you agree to your rental unit be re-keyed every time there is a new tenant, especially if it was previously tenanted. We should also have a set of keys before the management service begins.

Before We Can Start Rental Marketing

Before photos are taken, we will survey the unit and identify areas for improvement, including repaint the unit in neutral colours and furnish it with enough window coverings. We want to rent out your unit as soon as possible and the most efficient way is to make your unit move-in-ready at the beginning.

You Have to Budget for Maintenance and Repair Costs

Home owners should budget 1% to 3% of home value as maintenance and repairs costs. We will arrange our authorized trades people to take care of your properties. We do not take a maintenance reserve fund from you, instead, we pay the trades people first and deduct the expenses from the rent. There is no markup on trade services.

Regular Maintenance Requirements

To keep your rental property running smoothly, regular maintenance should be done. If your furnace/heating and gutter/drainage have not been service within 1 year prior to our management, we require these be serviced immediately once tenanted. Other recommendations include caulking to prevent water leaks.

Home Maintenance Categories and the Recommended Service Frequency

Yolk Home Rental treats your income properties like one of our own. Therefore, we recommend the following frequency for servicing each category.

                REQUIRED EVERY TWO YEARS:                          (1) Furnace/Heating; (2) Gutter/Drainage

                RECOMMENDED EVERTY THREE YEARS:       (1) Painting; (2) Plumbing; (3) Electrical; (4) A/C

We manage your properties responsibly by taking care of maintenance and emergency repairs. We believe by being a caring property management company, we can help you keep long term tenant and stable stream of income.