Good Property Management in Winnipeg
- Thread starter kevindv10
- Start date
QUOTE (kevindv10 @ Jan 26 2010, 08:35 PM) Will anyone offer any suggestions as to excellent property management companies in Winnipeg? My numbers seem to indicate that it would be a decent place to invest, but living at a distance from my investment makes me nervous.
Many thanks.
Kevin
Be careful where you buy in Winnipeg. There are some very poor investment areas that look like a bargain to those outside of Winnipeg. Much of the North End and City Centre are war zones save for a couple of pockets. Also, rent controls are in place. If there are specific areas that you are interested in, I could provide you some advice.
As for property management firms, I currently use Elite. They have been ok, but seem to be a bit outdated in their processes, etc. I just bought a duplex and will be going with Lead to test them out to compare the two.
Many thanks.
Kevin
Be careful where you buy in Winnipeg. There are some very poor investment areas that look like a bargain to those outside of Winnipeg. Much of the North End and City Centre are war zones save for a couple of pockets. Also, rent controls are in place. If there are specific areas that you are interested in, I could provide you some advice.
As for property management firms, I currently use Elite. They have been ok, but seem to be a bit outdated in their processes, etc. I just bought a duplex and will be going with Lead to test them out to compare the two.
QUOTE (fumbrunner @ Jan 26 2010, 10:15 PM) Be careful where you buy in Winnipeg. There are some very poor investment areas that look like a bargain to those outside of Winnipeg. Much of the North End and City Centre are war zones save for a couple of pockets. Also, rent controls are in place. If there are specific areas that you are interested in, I could provide you some advice.
As for property management firms, I currently use Elite. They have been ok, but seem to be a bit outdated in their processes, etc. I just bought a duplex and will be going with Lead to test them out to compare the two.
Thanks for the offer. If you`re interested in offering some advice please email me at kevindv10 at gmail dot com. Sadly, I am not yet a REIN member (although I went to the workshop last Saturday) so I can`t send you a message on this board.
As for property management firms, I currently use Elite. They have been ok, but seem to be a bit outdated in their processes, etc. I just bought a duplex and will be going with Lead to test them out to compare the two.
Thanks for the offer. If you`re interested in offering some advice please email me at kevindv10 at gmail dot com. Sadly, I am not yet a REIN member (although I went to the workshop last Saturday) so I can`t send you a message on this board.
QUOTE (kevindv10 @ Jan 27 2010, 11:58 AM) Thanks for the offer. If you`re interested in offering some advice please email me at kevindv10 at gmail dot com. Sadly, I am not yet a REIN member (although I went to the workshop last Saturday) so I can`t send you a message on this board.
you bet. email on its way!
you bet. email on its way!
QUOTE (fumbrunner @ Jan 26 2010, 11:15 PM) Be careful where you buy in Winnipeg. There are some very poor investment areas that look like a bargain to those outside of Winnipeg. Much of the North End and City Centre are war zones save for a couple of pockets. Also, rent controls are in place. If there are specific areas that you are interested in, I could provide you some advice.
As for property management firms, I currently use Elite. They have been ok, but seem to be a bit outdated in their processes, etc. I just bought a duplex and will be going with Lead to test them out to compare the two.
Also starting some investing in Wpg. If you have advice, I`d love to hear it. nfast at mts dot net.
As for property management firms, I currently use Elite. They have been ok, but seem to be a bit outdated in their processes, etc. I just bought a duplex and will be going with Lead to test them out to compare the two.
Also starting some investing in Wpg. If you have advice, I`d love to hear it. nfast at mts dot net.
To answer the question regarding property management in Winnipeg...I have managed my own properties for the last 5 years here however I recently decided to give Garamark Property Management a try, so far so good...I`m a REIN Member that moved to Winnipeg 7 years ago from Edmonton Alberta.
QUOTE (fumbrunner @ Jan 26 2010, 10:15 PM) Be careful where you buy in Winnipeg. There are some very poor investment areas that look like a bargain to those outside of Winnipeg. Much of the North End and City Centre are war zones save for a couple of pockets. Also, rent controls are in place. If there are specific areas that you are interested in, I could provide you some advice.
As for property management firms, I currently use Elite. They have been ok, but seem to be a bit outdated in their processes, etc. I just bought a duplex and will be going with Lead to test them out to compare the two.
Tell us please about rent controls or other possible problems in the city. I`ve been eying Winnipeg for quite some time, and there`s been lots of mention about that city among REIN members recently.
Thanks
Dejan
As for property management firms, I currently use Elite. They have been ok, but seem to be a bit outdated in their processes, etc. I just bought a duplex and will be going with Lead to test them out to compare the two.
Tell us please about rent controls or other possible problems in the city. I`ve been eying Winnipeg for quite some time, and there`s been lots of mention about that city among REIN members recently.
Thanks
Dejan
QUOTE (kanabel @ Feb 11 2010, 10:48 PM) Tell us please about rent controls or other possible problems in the city. I`ve been eying Winnipeg for quite some time, and there`s been lots of mention about that city among REIN members recently.
Thanks
Dejan
Areas to avoid completely - 4A, 4B, 5A, 5D in the downtown, and parts of 3A. 4C, 5B, and 5C are a bit better and are generally classified as working class neighbourhoods. Anything beyond those areas are fine.
As for rent controls, A landlord can usually increase rent on a rental unit only once every twelve months. However, there are two exceptions:
When a new tenant moves into a residential complex with three units or less, the landlord can increase the rent as long as they give the tenant a Notice to New Tenant form. The landlord may decide the amount of the rent increase. (regulations are currently being changed to remove the ability of landlords to set rents for threeplexes and under).
When a complex has four or more units, the landlord can also increase a new tenant’s rent as long as they give the tenant a Notice to New Tenant form. The new rent can’t be more than the average of the rents charged for similar or comparable units in the residential complex.
There are a couple of renovation schemes that will exempt you from rent control for a certain period of time.
There are some exceptions to the guideline. These are:
premises renting for $1,105.00 or more per month as of Dec. 31, 2009;
personal care homes;
approved rehabilitated rental units;
new buildings less than 15 years old where an occupancy permit was first issued or a unit was first occupied after April 9, 2001; and
new buildings less than 20 years old where an occupancy permit was first issued or a unit was first occupied after March 7, 2005.
http://www.gov.mb.ca/finance/cca/rtb/index.html
Thanks
Dejan
Areas to avoid completely - 4A, 4B, 5A, 5D in the downtown, and parts of 3A. 4C, 5B, and 5C are a bit better and are generally classified as working class neighbourhoods. Anything beyond those areas are fine.
As for rent controls, A landlord can usually increase rent on a rental unit only once every twelve months. However, there are two exceptions:
When a new tenant moves into a residential complex with three units or less, the landlord can increase the rent as long as they give the tenant a Notice to New Tenant form. The landlord may decide the amount of the rent increase. (regulations are currently being changed to remove the ability of landlords to set rents for threeplexes and under).
When a complex has four or more units, the landlord can also increase a new tenant’s rent as long as they give the tenant a Notice to New Tenant form. The new rent can’t be more than the average of the rents charged for similar or comparable units in the residential complex.
There are a couple of renovation schemes that will exempt you from rent control for a certain period of time.
There are some exceptions to the guideline. These are:
premises renting for $1,105.00 or more per month as of Dec. 31, 2009;
personal care homes;
approved rehabilitated rental units;
new buildings less than 15 years old where an occupancy permit was first issued or a unit was first occupied after April 9, 2001; and
new buildings less than 20 years old where an occupancy permit was first issued or a unit was first occupied after March 7, 2005.
http://www.gov.mb.ca/finance/cca/rtb/index.html
QUOTE (fumbrunner @ Feb 12 2010, 02:01 AM) Areas to avoid completely - 4A, 4B, 5A, 5D in the downtown, and parts of 3A. 4C, 5B, and 5C are a bit better and are generally classified as working class neighbourhoods. Anything beyond those areas are fine.
As for rent controls, A landlord can usually increase rent on a rental unit only once every twelve months. However, there are two exceptions:
When a new tenant moves into a residential complex with three units or less, the landlord can increase the rent as long as they give the tenant a Notice to New Tenant form. The landlord may decide the amount of the rent increase. (regulations are currently being changed to remove the ability of landlords to set rents for threeplexes and under).
When a complex has four or more units, the landlord can also increase a new tenant`s rent as long as they give the tenant a Notice to New Tenant form. The new rent can`t be more than the average of the rents charged for similar or comparable units in the residential complex.
There are a couple of renovation schemes that will exempt you from rent control for a certain period of time.
There are some exceptions to the guideline. These are:
premises renting for $1,105.00 or more per month as of Dec. 31, 2009;
personal care homes;
approved rehabilitated rental units;
new buildings less than 15 years old where an occupancy permit was first issued or a unit was first occupied after April 9, 2001; and
new buildings less than 20 years old where an occupancy permit was first issued or a unit was first occupied after March 7, 2005.
http://www.gov.mb.ca/finance/cca/rtb/index.html
Thanks for your insight!
Dejan
As for rent controls, A landlord can usually increase rent on a rental unit only once every twelve months. However, there are two exceptions:
When a new tenant moves into a residential complex with three units or less, the landlord can increase the rent as long as they give the tenant a Notice to New Tenant form. The landlord may decide the amount of the rent increase. (regulations are currently being changed to remove the ability of landlords to set rents for threeplexes and under).
When a complex has four or more units, the landlord can also increase a new tenant`s rent as long as they give the tenant a Notice to New Tenant form. The new rent can`t be more than the average of the rents charged for similar or comparable units in the residential complex.
There are a couple of renovation schemes that will exempt you from rent control for a certain period of time.
There are some exceptions to the guideline. These are:
premises renting for $1,105.00 or more per month as of Dec. 31, 2009;
personal care homes;
approved rehabilitated rental units;
new buildings less than 15 years old where an occupancy permit was first issued or a unit was first occupied after April 9, 2001; and
new buildings less than 20 years old where an occupancy permit was first issued or a unit was first occupied after March 7, 2005.
http://www.gov.mb.ca/finance/cca/rtb/index.html
Thanks for your insight!
Dejan
So I may be a little biased but we believe we can do property management better than anyone else in winnipeg....Which from my personal experience isnt that hard to do... My partner was an out of town investor who got fleeced for over $50k in fraudulent repair activity by another property management agency before we started our company.... We appeal especially to "out of town Investors" because we enable you to follow up on the status of your investment on a daily basis if you run internet.... but again i may be a little biased
QUOTE (VerticalProperties @ Apr 18 2010, 11:42 PM) So I may be a little biased but we believe we can do property management better than anyone else in winnipeg....Which from my personal experience isnt that hard to do... My partner was an out of town investor who got fleeced for over $50k in fraudulent repair activity by another property management agency before we started our company.... We appeal especially to "out of town Investors" because we enable you to follow up on the status of your investment on a daily basis if you run internet.... but again i may be a little biased
Hey Jake, looking forward to working with you guys in a couple months!
...and to update my previous point, I have left Elite as my PM firm. Simply put, communication and business processes are not their strong point.
Hey Jake, looking forward to working with you guys in a couple months!
...and to update my previous point, I have left Elite as my PM firm. Simply put, communication and business processes are not their strong point.