If you’re renting out your luxury apartment (or condominium) in Calgary, a competent property management firm can add value to the investment. There are many advantages to hiring a good management firm, and the benefits make the costs well worthwhile. Creative Rental Solutions is a high-end, full-service property management firm that specializes in short-term and long-term rental properties. CRS manages the entire property from start to finish. Rental clients move in to an environment that’s impeccably clean and comfortable, and without any issues or problems.
High quality tenants
CRS undertakes the tenant screening process, without any imposition on the property owner, and with results that are assured. Preferred tenants are responsible, financially reliable, and usually long lasting. The CRS team is experienced with applicants, and skilled in identifying any warning signs. For the property owner, it means less chance of bad tenants and fewer rental problems.
Fewer vacancy cycles
As property manager, Creative Rental Solutions makes every effort to quickly fill a vacancy, while reducing vacancy cycles. CRS prepares the property for rent, and recommends improvements that will maximize revenue. The team effectively markets the property, ensuring a large pool of of potential candidates that are target marketed, and ready to include in property showings.
The best rental rate
With a good understanding of the Calgary market, CRS assesses the best rental rate, based on the property, on real estate conditions, and on the investment priorities of the property owner. With access to local market data, CRS also has the skill to compare and contrast rental rates, and avoid going too high on the price, or too low on the price. This will ensure the best rent for the owner.
Good tenant retention
Many property owners suffer from lost rent or high tenant turnover - these will compromise the property investment. By any definition, tenant turnover involves a lot of work, and in most cases, additional costs. CRS is experienced enough to make sure that tenants are happy with their rental and content for the long term. Needless to say, this makes for less stress for a property owner.
Rent collection process
Rent collection is all about timely payment. Late or problematic payments can compromise cash flow for an owner. CRS creates a “buffer” between tenant and owner, listening to excuses, chasing rents that are late, and in the worst-case scenario, having to evict a tenant. However, preventing these types of occurrences is the best approach, and CRS is skilled in proactive lease compliance.
Benefits for owners
Hiring a property management firm relieves a property owner of the downsides of renting. There are no late-night emergencies; no late payments to chase; no awful tenants to do deal with; and finally, no paperwork or administration to manage. With Creative Rental Solutions, renting out a luxury apartment or condo is stress free – and an owner can be assured of quality management.