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P407, Airbnb – Is it a good fit?

P407, Airbnb - Is it a good fit? The good, bad and ugly... A question comes up quite often is should one turn the current rental(s) into Airbnb? My personal view on this is quite simple: No. More accurately, I don’t recommend this option for the city I am currently living in – Edmonton. The reason? I can sum-up it in three words “Good, bad, & ugly”.  In this post, I will share with you what are these reasons in detail and why Edmonton, in my…

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P408, Initial Deposit – Secure the Fair Chance

Initial Deposit - Secure the fair chance Many of us have the similar experience: we viewed the home, loved it and applied. we were praying to get approved soon and move into the dream home.... A few days later, we were being told another candidate had been chosen among many applicants because his/her application is stronger even he/she applied after you. Is there a better and fairer way to secure your dream home? Yes, there is. Welcome to the concept of "initial deposit". This post explains…

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P406, One-level suite – is it right for you?

Single-level suite - Is it right for you? Now days it is getting more and more popular to divide one house into up/down rental suites. More popular for one good reason: because it provides a sweet spot for the savvy home hunters who love to enjoy the benefits of living in a house while saving big on renting costs.This post shares the pros and cons to live in a single-level suite, plus a checklist to decide if "single-level suite living" is right for you.  What is…

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P405, I can’t reset the breaker…

P405, I can't reset the breaker A few weeks ago, one tenant called that he couldn't reset the breaker. It kept tripped off and to make things worse, the fridge is on the same circuit. He was worried about the food would go bad soon, if it were not be fixed...", In this post, I will share with you how we followed up and resolved the issue and what are the 4 things we learned from this experience: 01). Be aware of "one side story" 02). Channel the…

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Instead of sublet, do this…

P403, Instead of sublet, do this... In this post, I would like to share with you a true story happened recently. It touches the topic of sublet. Via this story, I will explore the following01). Why sublet is to be avoided02). What is a better alternative03). Lesson learned from this case.Let's get right into it.  The story Back to May 2020, a young couple in their late 20s applied a townhouse from us. They are both engineers, witty, polite, with excellent income, great credits, fantastic references…

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A small piece, a huge price….

A small piece - a huge price... In this article - I will share with you the lessons we learned via a mistake that costed us 1-month of wasted time after numerous showings with no result, and the rent loss of $1145.00. In addition, you will also learn how it only took 5 minutes and $0.01 to fix this "small yet expensive"problem, once we figured out the root cause.  The story went like this.... After the previous tenants moved out, we went in this 2-bedroom condo,…

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P401, Swollen Garden Hose Outside Valve

401, Swollen Garden Hose Outside Valve - Garden hose outside vavle 101 In this post, I will explain how can a garden hose swollen, the damage it caused and how to prevent it from happening; In addition, I will also share the basic of garden hose outside valve, as well as two common issues and how to fix them quick and with low cost, as well as the so called "5 second rule" for winterization. Let's go!  What has triggered this post? It happened in my…

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P021, Why do I receive the lease renew 60 days earlier?

Why do I receive the lease renew 60 days earlier? "Why do I receive the lease renew letter, while the current lease ending date is still around 60 days away?" Fair question. There are 3 main reasons why: One, in the current lease, it says 60-days written notice shall be given if either side like to renew it, after the current lease expires. It is one of our best practices to send the renew letter to the so-called "preferred residents" 60-days prior so that you may…

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P014, Here is what to be shared with the rental receipts…

A few notes on the receipts Quite often, some residents in our Culfidant community naturally ask for the receipts each time when the rents are being paid every month. This is totally normal and yet here is the common practice we do in our community in terms of rental receipts During the beginning stage when a prospect applies and is being approved for the rental lease agreement, our office shall issue receipts for any transaction that involves money exchange (for example, initial deposit, security deposit, and…

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How to set the rents right

How to set the rents right What is the right rents to be set for a residential rental property? There are many ways to do it. In this article, I will share what are the common ways to set rents that might limit the true potential of your investment, what are the best way based on the sound principles and years of practice, and how to do it step by step. Firstly, below are the most common ways to set up the rents by manyPick a number…

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