Good property management companies?

[jhfreedom]

Hey guys,

Just wondering if you guys would happen to know any property management companies that are good for residential. I am considering going with Emerald for my house but found the fees to be quite expensive (Management fee of 10% + $400 per residential lease + $275 for non-resident owners per year). At the same time, I have never rented out a home before...

Any good/cheap companies would be great, although I do understand that you pay for what you get...

Also, are these management companies worth it? Are they that good at finding tenants?

Or am I simply better off listing it in Kijiji/Rentfaster?

I have been hearing horror stories about my friends not being able to collect rent on time and the place staying vacant.

FYI, the house currently has renters living in and the lease agreement is good until the end of September. The tenants have had issues not paying the rent on time (Two occasions but paid off) and there is no damage deposit so it kind of worries me.

[08altima]

I am also looking for a new property management company as the one I'm currently with are a bunch of crooks and provide no service what so ever. Any recommendations would be greatly appreciated.

[dj_rice]

Do not go with Parterre Property Service. They were managing our condo and were recently fired because when it came time to budget, they had no paperwork of work orders, budget #'s, minutes or anything.


We're currently using Ayre & Oxford and so far, they have been producing results in a fairly quick manner. Still slow like Parterre. Time will tell

[TomcoPDR]

OP, you looking for a someone in Edmonton? (your listed location)

[jhfreedom]

Originally posted by TomcoPDR
OP, you looking for a someone in Edmonton? (your listed location)
Sorry, I should have clarified.

I am looking for someone in Calgary as my house is located there.

Currently have renters living, here are the drama that I am currently facing

1. There are 3 people on the lease of the house but the renter has decided to bring in 3 more without my approval.
I have told them about this. However, their argument is that there is no reason to rent out a house for 3 people (Don't understand). So decided to charge them an extra $100 per head/month, which I think is a very good deal to them but they are still pissed about it.

2. The people currently living in the house aren't the tidiest

3. The people living in the house are very hard to get a hold of (Telephone/e-mail). And they can't speak English very well so I always have to communicate with a friend of them, in which he's hard to get a hold of as well

I was always under the impression that all management companies do is just find you a renter and open/close out lease transactions.

Then why not just DYI? Something happens in the house (Immediate repairs required), all they would do is call somebody up for you.

It just seems way too easy for them to make money off you like that, ya know?

[Zero102]

I had a big response typed out then hit reset form instead of submit reply. Why the fuck is that button there anyways....

Coles Notes:
Don't bother, 90% of property managers are useless dicks and since all they do is run a credit check and pick up the rent cheques every month while charging you 10% + a 10% finders fee it is a waste of money. They don't take on any of the risk and add a fee to every repair that has to be performed which you end up paying for anyways.

[S-FLY]

When I was the tressurer on my condo board, we had the absolutely worst experience with Emerald Management & Realty. They were poor at returning e-mails and phone calls, terrible follow-up or resolution. We ended up switching management companies to Ultimate Property Management.

I cannot say enough terrible things about Emerald.

[08altima]

Lol, I was just about to switch to Emerald! I guess there's no real dependable management companies out there...
How has Amhurst been?

[project240]

Originally posted by S-FLY
When I was the tressurer on my condo board, we had the absolutely worst experience with Emerald Management & Realty. They were poor at returning e-mails and phone calls, terrible follow-up or resolution. We ended up switching management companies to Amherst Property Management.

I cannot say enough terrible things about Emerald.

Who was your property manager?

[Zero102]

My wife worked for Gateway, they don't do individual houses / units (at least as far as I know) but they were constantly taking over properties managed by emerald and everybody said the same thing "Good fucking riddance!" I have yet to hear a good review of them.

[max_boost]

It is very much a DIY thing but more difficult if you aren't in the same City.

My parents have used Sun Flower Property Management for one of their properties going back to 2001.

[S-FLY]

This was 5 years ago and I sold that condo 3 years ago. We switched from Emerald Property Management to Ultimate Property Management, not Amherst.

Ultimate was much much better. Phone calls and e-mails were returned promptly and they facilitated the AGM and board meetings easily. Ultimate was a smaller shop and I think they only deal with smaller condo units, but they were very good and privately owned. Their website sucks, but it is in no way reflective of their service.

[S-FLY]

Originally posted by project240


Who was your property manager?

Sorry, it's been so long I can't recall. We had so little contact with them (mostly because they don't return your calls or e-mails), that I cannot remember her name.

[project240]

I think you can probably find a lot of faults with any property management companies if you've been with them for long enough.

A lot of people don't realize (as tenants) that the property management company doesn't make all the decisions. Larger repairs/renos/etc (within the unit or outside the building) still have to be ok'd by the owner and alot of the times the owner doesn't live in Calgary, which, in turn obviously causes delays.

Also, so many owners are slumlords and don't want to spend a cent on upgrades/improvements/repairs unless absolutely necessary.

With that being said, obviously emergencies are a different story and should be treated as such.

[Cos]

I think this guy is looking for an individual property rental management agency. NOT a condo management company.

At least that is how I read it.

[jhfreedom]

Originally posted by project240


Also, so many owners are slumlords and don't want to spend a cent on upgrades/improvements/repairs unless absolutely necessary.

With that being said, obviously emergencies are a different story and should be treated as such.

So true. However, from a landlord's point of view, why upgrade when you know the tenants are going to take less care of it compared to you living on the property yourself? Unless the upgrade was worth it to raise the rent prices (Ex: Basement renovation to bring in additional tenants).

I am quite content with what I am getting although I am not making any money. Just want tidy, responsible, and good tenants. I wouldn't even mind giving another renter a discount on rent if I know for a fact that they are solid.


Originally posted by Cos
I think this guy is looking for an individual property rental management agency. NOT a condo management company.

At least that is how I read it.

I already talked everything over with the tenants and it's all good. The house was very clean and to my satisfaction last time I went.

At the same time, I will be looking for someone/company that charges at a reasonable rate and does a good job since the lease is over at the end of September and the current tenants are thinking about leaving.

I do not want the house to be vacant during the winter months when it will be very difficult to find renters.