Successful Alberta landlords offer tips to help other landlords succeed in challenging times
The last story on the Alberta landlords association blog site was called “top tips for landlords to succeed in 2016“. It took off like a storm.
It was a post written by experienced landlords who wanted to help other Alberta Landlords. After all, by helping each other we can improve the entire rental industry to benefit both good landlords and good tenants.
With tens of thousands of hits, it was shown that not only do many small residential landlords in Alberta want to succeed and make profits, it also shows that many landlords face difficult challenges these days.
It wasn’t only all the hits that proved this, it was the emails sent in and messages on the Alberta Landlords Association forum. The reality is lots of good and motivated landlords are facing difficulties and looking for answers.
The Current Economy Is A Challenge For Landlords, But You Can Still Succeed and Make Profits
Experienced and successful Alberta landlords don’t like to sugar coat any thing. Be warned there are some people and groups out there who might not have your best interests at heart and are really “sales people” and not landlords. Contributors to this blog are landlords who offer great properties and great value to good tenants.
We like things to be said frankly and said straight with no B.S.
The reality is the economy has been hit hard by the decline of the price of oil and other commodities. We also elected a provincial government that many landlords feel is not on their side.
These and other factors have had a negative impact on landlords and the residential residential industry in Alberta.
Help For Alberta Landlords
Lots of messages and requests for help were sent in. Based the messages sent in we have asked our expert landlords to provide more tips and advice. Some of these messages were:
Edmonton Landlord Asks “How Do I Choose the Right Tenant and Verify Their Story?”
A landlord in Edmonton wrote in about tenant screening.
Her question was, “How important is a credit check really? I’m not talking about a perfect situation because I don’t have perfect applicants calling me. I need to know how this works, realistically”
“A few days ago I had a couple apply for the upper in my duplex. I asked them why they were moving and they told me it was because their current landlord was nasty. They said the landlord ripped them off. He was very shady and rented out a property that had mould and they could smell weed in the drywall and the carpets.”
“They both believed the place used to be rented to druggies and they couldn’t bear it and needed to break the lease with the landlord. They said they had stayed in their last rental property for 4 years because it was a well maintained place and the landlord was honest. I’m not sure what to do now.”
“How would a credit check help me in this situation?”
A Calgary Landlord Asks How They Can Stand Out in a Competitive Rental Market?
A landlord in Calgary said he was finding there was a lot of competition out there for new tenants.
Not only that, but some of his current tenants were thinking of moving to other, cheaper, properties in the area. The last part of the email was:
“How can I let prospective tenants know I’m a service oriented landlord with well maintained rentals? And how can I make sure my current renters don’t move into something cheaper? I know if they move they will regret it, but worry those other unprofessional landlords offer low rents and lots of perks might persuade them to make a bad decision.”
More Tips and Strategies for Alberta Landlords Success
These questions are only the tip of the iceberg and there are hundreds more.
And our experts Alberta landlords are happy to help.
We’ll have more tips and strategies on the way. In the meantime, remember to run tenant credit checks to make sure you “know who you are renting to.”
You can run discounted checks by becoming a member of the Alberta Landlords Association for a low one-time fee.
You can also get access lots of important services such as
(1) Eviction Notices
(3) Alberta Landlord Education Expert Advice and Hep CDs
Alberta Landlords Success in 2016
The Alberta rental market is challenging for landlords in 2016. But experienced and successful landlords have been through these types of things before and prospered. You can too!
Good times are just around the corner and make sure you and your rental properties get through the tough times and are ready for the coming good ones.