This question is easily the most common one we receive. It is important to first establish the following: In 90% of cases, we can make our owners the same or more money than they have historically gotten, even after subtracting our management fees. It is worth having a conversation with us on how we achieve this end. The other question, which is often forgotten is, “How much of my time will I get back?” The answer is, all of it. While we realize money is paramount and we do everything to maximize return, our owners often express how they underestimated the bliss which comes from not dealing with tenant issues ever again. Long-Term Management Fees – If there are no tenants currently in the property, we charge 50% of the monthly rental rate to advertise, find, screen, complete lease work, complete move-in inspection, and set up payment processing. This is applicable the first month only, and there is a management charge of 10% per month after that. For a full schedule of pricing download our ‘Summary of Services’ in the Forms and Contracts link under Owners.

In British Columbia, anything over 30 days is deemed a long-term rental. For our purposes, we target long-term rentals to be anything over 6 months.

Email communication; phone communication; tenant application submitted (view application at /rental-application); rental references checked; employer references checked; in-person interview; and when required (government housing or at the request of the Owner) credit check, criminal check, and verification of income.

Under British Columbia Real Estate Law, our company must enter into a written agreement before advertising, showing, or leasing your property. You can view our management engagement agreements in the ‘Forms & Contracts’ section of the website.

Tenant has a meeting at the office to sign lease work and go over the rules of tenancy; tenant signs a lease and pays the first month’s rent and damage deposit; a move-in time is set; the unit is professionally cleaned and steam cleaned; any needed maintenance is completed; the tenant is met at the property to hand over keys and complete a walk-through; a video, photo, and written inspection report is created and signed; the tenant is given their welcome package; 10 days after move-in our office confirms the transfer of utilities; 15 days after move-in the tenant is contacted to see how everything is going.

On the second of each month the accounting department prints off a report of unpaid rents. Tenants who are late are contacted via phone, text, and e-mail. If there is no response an eviction letter is delivered. 99.9% of tenants pay their rent after receiving this notice. For those who do not, we begin the eviction process. Of the approximate 2,808 tenants we have rented to in the time of owning MPRR, we have only had to evict 3 tenants or .01%. It is a very rare occurrence.

If the tenant stays for less than 80% of their term, MPRR will place a new tenant at no cost to the owner. The tenant is subject to pay for the cost to re-rent the suite which includes a placement charge of 50% of 1 rental month for a new tenant. If a vacancy occurs as a result of breaching the lease, the placement charge which is collected from the tenant is forwarded to the owner as rental loss compensation less any costs associated to return the suite back to the original condition. We can often place a new tenant within 30 days. However, the Owner can choose at any point in time to exercise their right to take the tenant through the Residential Tenancy Branch arbitration process to obtain compensation in the case there is a significant rental loss.

Rental rates currently range from $800 to $1000 per bedroom (2023). Three bedrooms start at approximately $2500 a month.

Very strong. On an average annual basis, our vacancy rate is below 5%.

Yes. Please call our office at 888-621-1177 or email rentals@mprr.ca during business hours for assistance. Our team coordinates emergency response for managed properties.

Full evictions are extremely rare. When they do occur we follow the guidelines laid out in the Residential Tenancy Act. Evicting a tenant who is resistant to leave in our experience can take up to three months. In 60% of the cases, we have dealt with the courts will award the owner back rent if it has not been paid. Every situation is different, and if you are looking for consulting around an eviction, we are happy to help.

A problem is reported by a tenant or flagged by us during an inspection; estimates and options for repair are prepared by our maintenance department; any maintenance under $50.00 is completed; any maintenance over $50.00 is sent to the owner with the estimates for approval; once approved, we manage all repairs to completion. Two maintenance call out inspections per month are included free with monthly management fees.

Rents are collected on the first of the month. Owner disbursements (minus management and any maintenance expenses) are deposited in owner accounts before the 10th. Most months, disbursements are completed by the 5th, but in our contract, it is the 10th to allow for irregularities in banking days or late tenant payments. Owner statements are e-mailed monthly before the 15th.

We use two different addendums. One for BC housing and one for privately owned properties. We start with 65 additions to the standard leases and make many redactions/additions depending on property specifics or owner requests/mandates.

Our website – mprr.ca. As we manage a significant share of residential rentals in town and rank highly when searching for local property rentals on Google, we find most people searching for a rental property in town will contact us.

Pre-move out inspections are completed 20 days before move out to flag any damage while the tenant is still occupying the unit. Quotes are generated for repairs, work is completed and paid for by the tenant, or out of the tenant’s damage deposit.

Part of our rental process is to complete a property inspection before renting the unit. If anything needs to be done, it would be flagged at this point. The most common items we find missing are fire extinguishers and fire alarms in each bedroom.

Mountain Peaks Resort Realty has worked with almost every Realtor in town, and we have helped sell homes while tenanted. Feel free to call us if you would like advice on successfully selling a rental home.

Yes. There is a lot to know surrounding the Canadian foreign owner’s tax laws. Please talk to us if you are a non-resident and looking at investing in rental property, so we can advise you on tax saving strategies. We can also put you in touch with an accounting firm that is well versed in all matters relating to Non-Resident tax preparation.

Entrepreneurship and the demand for commercial space have grown significantly over the years. We have found that spaces in the downtown core rent within 30 – 60 days and niche commercial spaces, or those away from the downtown core can take longer to find a tenant.