What is my qualification and experiences as Property Manager?
I am a licensed and insured professional Property Manager by the Real Estate Council of British Columbia. I have a background in Real Estate since 2007 when I first purchased my own property and becoming a landlord myself. Later in my career that I switched into a property manager full time, I have worked in a Real Estate brokerage looking over 200 units ranging from condos, townhouses, single detached house to multi-family units. I understand the importance of taking care of owner’s investments, understanding tenant’s needs, and coordinating matters between the two parties and the contractors.
Why do you hire me vs using a property management company team?
As independent Property Manager, the one big benefit is the one level communications. I singly handle all the leasing and management process. The tenants I picked for your unit will be communicating directly with me only. No more miscommunications, and lost mail in the shuffle. Many property management companies handle the clients on an industrial approach that communications often break down or lost. Working with me, you are paying the same service fee to the company but you will be personally catered by my services.
Private client portfolio.
My clients are with me no matter where I go. As Property Manager, we think the best for the owner, if the brokerage does not function well, or it constantly makes accounting mistake, then I have the ability to look for a new brokerage to service my clients better.
Service Quality control.
I have the ability to choose the number of clients I take in, when I reach certain numbers of the clients, then I won’t be taking more until I am capable of handling more. Most of the companies won’t tell you this because often time there are not enough property managers to handle a large number of clients base, so the quality of the service goes down and your emails or calls get lost in the pile among other inquiries.
Who is EasyRent and why this brokerage is better than others?
My rental property management license is providing a real estate service on behalf of a fully-licensed real estate brokerage. EasyRent 1) has over 12 years of history in the rental industry 2) has professional accounting team with CPA qualification staff to make sure your statements are done correctly and your rent is deposited in your account in a timely fashion. The brokerage is also insured and provides the Trust Account for rent deposits and payments. The company is very well structured and stable and is suitable for establishing long term client relationship.
How many people working in EasyRent?
We have about 7 Property Managers plus 4 Accounting staff, overall over 1000 units all over Vancouver. We are constantly growing and advancing to serve our clients better.
Do I have special discount working with the vendors or trades?
Yes, most of the time, however, I could only use licensed vendors and trades. They are insured and making sure their mistake will not cause liability issue to the owner’s unit. The relationship I have with the contractors will make sure they perform the job well and setting the priority for your investment.
Where do I service in the greater Vancouver area?
I focus on residential units in North Vancouver, Vancouver, East Vancouver, Richmond, Burnaby, New Westminister, Port Moody, Port Coquitlam, Coquitlam, Surrey Central and White Rock area. Unfortunately, I do not service Maple Ridge, Surrey and Langley and beyond, if you are looking for property management service in those areas, I am happy to refer you to another property manager who can look after your unit.
What language do I speak?
I speak fluently in English and Mandarin Chinese.
Can I place tenant with a certain ethnic background?
Unfortunately, I cannot place tenants based on their ethnic background. We only place tenants by their credit rating, income, work references, previous landlord references, and overall impression.
What type of unit do I manage?
Strata condo, townhouses, duplex and single detached house.
How long will it take to rent out my unit?
Usually, the tenant placement takes from few days to 6 weeks depends on the price, location and the condition of the unit. I adjust the price every few days to make sure it corresponds to market inquiries.
When do I get the rent deposit to my account?
Usually it is around 20th of each month. Our Brokerage looking after over 1000+ Properties, the accounting flow must have a schedule and system to set in place.
Between 1st to 5th, we will pull the rent from the tenant’s account, but sometimes if the 1st falls on a holiday or weekend, then Electronic Fund transfer won’t move the fund until the next following business day, ,and then it takes about 2 to 3 days to clear the fund. And if the tenant’s account bounced, then we will ask them to pay us, so this whole process could take up to the first 10 days of the month.
And between 10th to the 15th, we need to consolidate all the invoices of the trades or any outstanding bills to make sure they are paid,
Between 15 to 20th, the accounting will double check on the books and making sure all the income and expense are correct and that is why usually it is around 19th to 20th we disburse the rent to ALL THE OWNERS across the board. You will also receive an owner statement per month to review the income and expenses.
What if tenants break the lease?
When tenants break the lease, they are responsible for 1) liquidate damages, the cost for the owner to hire me as a rental property manager, 2) the rest of the rental term until I found another suitable tenant. If the tenants decide not to pay for the cost, then I will apply a Dispute Resolution on Residential Tenancy Board on behalf of the owner for Monetary Order. The order will then be enforced through Small Claim Court or BC Supreme Court. The owner will be responsible for the filing fee at first until it’s proven successful.
Why do I need another insurance for my property? I thought tenant and the Strata already have insurance?
Your own Rented Condo Insurance will cover:
- the Strata deductible in case your unit is found liable for the damages to the other strata units and the building.
- Loss of rent if the suite is deemed inhabitable due to flood and fire
- Liability in case your unit caused damages to another unit
- Personal properties in case of flood or fire such as damaged flooring, furnitures and appliances.
Your Strata insurance only covers anything OUTSIDE of your suite, but not inside. Your tenant will have their own insurance which covers their own personal properties, any additional expenses if they have to move out temporarily and their personal liability if they are the one who caused the damages. All our managed properties must carry active rented condo insurance. Please consult your insurance agent for further details.
What if you go on vacation? Who is going to look after my unit?
In EasyRent, I also work with other property managers to help out each other in case we need to be away. Everyone is experienced and highly skilled professionals that we will make sure your unit is well taken care of. I will provide my contacts while I am away. Even when I am away, I will make sure I can be reachable through online app such as WeChat or Whatsapp for emergencies.
How do I prepare the property for rental?
The property must be fully functional, professionally cleaned and no excess amount of wear and tear on the wall. If it is a house, the landscape must be trimmed to be presentable. Most tenant who came to view the property the biggest complaint they had was dirty properties, and broken items. First impression is very important on how a renter decide to rent your property or not.
What do I need in order to sign the service contract?
- I will make a visit to the properties to inspect and to determine if this is a rentable properties
- If there are known deficiencies, those must be repaired prior to rental
- I will need your Photo ID
- I will need your Proof of Ownership such as latest property tax, or contract of purchase and sale
What else do I need to do after the property is rented?
- We need a picture of your VOID cheque in order for us to send you the rent on 20th of each month.
- We will need a copy of your Rental Property Insurance. If it is a Strata property, the insurance must be able to cover Strata’s insurance deductible. The also your loss of rental income that covers up to 1 year, also at least 2M personal liability coverage.
- You will need to make sure all your personal mail are forwarded out. You can head to Canada Post to do so. You will also need to make sure you will update your BC Assessment mailing address to your own home or friend’s address, or our company address 204 – 2590 Granville St., Vancouver BC V6H 3H1