Whether you are coming from overseas to live in Canada, or you’re simply leaving the nest for the first time, it can be tough to navigate the waters of renting your first apartment. When you do, there are a few things you should know. First of all, you need to understand that property managers are looking for.
New technology is fuelling a dramatic change in the way innovative property managers and landlords are doing business and managing their revenue streams. It doesn’t matter whether you are a new investor, or a seasoned landlord or an independent property management firm – if you aren’t staying ahead of the curve, you will lag behind as your competition.
Property managers have reason to smile in 2012. According to recently released data by the CMHC, the formerly flagging rental apartment market is now experiencing greater demand and growth. This is due to a recent spike in immigration, as well as a decrease in the number of available apartment units. Rental vacancies, which were once over 3%, fell.
According to CIBC, cheque fraud in Canada costs North American business more than $20 billion CAD every year. Residential property management is an industry that still favours accepting cheques and cash for rent payments and therefore property managers are at greater risk of being defrauded than the average person. Even obtaining a series of post-dated cheques is.