Do You Have A Problem Tenant?
Rental property only performs as well as it’s tenants. If your tenant doesn’t pay rent in full in a timely manner then you have a problem.
Problem tenants come in all shapes and sizes. The one common feature is that it’s hard to get them to either toe the line or leave, especially if you are thousands of miles away or have other pressing matters to take care of.
The Real Problem
Problem tenants don’t solve themselves. They either have to face eviction or be evicted in order to restore and stabilize the property’s income stream. Sometimes it simply takes a personal visit. Face to face communication solves many problems.
Other times it requires formal action. In British Columbia the Residential Tenancy Act sets out how this is accomplished. If it’s not done according to the Act the property owner will not be successful in his or her actions. The proper forms must be used, and service of those documents must be done properly.
These things take time, and in the rental real estate business, time is money. Expenses don’t take a holiday, even if revenue does.
How We Help
When you engage us to manage your investment property we begin a long term relationship. The initial step often involves solving a problem tenant. We will visit the property and do whatever is required to resolve the problem. The only costs to the owner at this stage are the filing fees and other disbursements.
Once the problem tenant has been dealt with we begin collecting a fee on rental proceeds collected, whether from the original tenant or from a new tenant that we acquire. In other words, the owner is not responsible to pay us anything other than disbursements until we successfully restore an income stream.
How Do You Get Started?
Read our information package, and download our contract. Fill it out and send it to us. Upon receipt and review of the contract we’ll go to work. It’s that easy.
Contact us. We can help.
For more information please do not hesitate to contact us by telephone at 604-298-3235, mail at 3582 East Hastings Street, Vancouver, BC, V5K 2A7, or by email.