We get many questions about the listing process for rent.
Here is how the listing process works with listing your property for rent
When listing your property for rent, we start by thoroughly analyzing the product that is being considered. Factors such as current market demand, unit floor, finishes, views, location etc are all brought into consideration when marketing the property. This paints an evidence based picture for strategy surrounding rental rates and what kind of timeframe can be expected for renting the property successfully. Listing your property for rent.
The next step is then to arrange for key access and a professional photography shoot in order to maximize our digital marketing efforts and online appeal. In today’s rental market, things have become much more competitive. As such, we leave nothing to chance when it comes to ensuring excellent presentation for each rental project we list.
Upon completion with rendering done and edits made, we then list on all of our marketing mediums. These include websites such as vancouverluxuryrentals.com, craigslist, Padmapper, Zumper, Livrent and more. This is done to ensure the property has as many eyeballs brought to the specific listing and thereby increase the amount of ‘traffic’ for the listing. Increased traffic leads to more showing requests and more viewings for the property. This lends itself to having a higher rate of renting quicker, and a better chance of collecting applications in an expedited manner.
Showings occur periodically depending on inquiries. Every inquiry is followed up on and viewings are booked with the agent. Scheduling is simple as we work 7 days a week and are able to do viewings before 9am and after 5pm on weekdays. This is so we can expedite the showing requests as the availability for many qualified tenants usually extends not surprisingly to after standard work hours. This is one of the key benefits and advantages that our clients get from listing with us. The availability makes it so that we are able to rent properties quicker for our clients. This decreases vacancy and increases cash flows for their income properties.
Tenant screening is the next step and one of the most important in the entire process. Upon collecting an application/s we then review them thoroughly and ensure that the tenants who are being considered for rent are in good standing. The screening process includes things such as looking for: Gainful employment, full credit checks, previous tenancy history, financial disclosure (when needed) and reference checks.
Once completed, either with a successful applicant or with an unsuccessful one, the owner is then contacted to update them about the status of the application/s. We review with you the applicant and then proceed to drafting a rental contract.
Our tenancy contracts are detailed and enforceable per the Tenancy Act of British Columbia. They include a 6 page standard agreement along with a landlord protective tenancy addendum to specify specific points needed for the rental. Things such as strata documents, move in/out fees, cleaning, payment method, deposit remittance etc are all included in our agreements in order to protect our clients.
Upon signing the tenancy agreement/addendum and collecting the deposit/s. We then arrange next steps with the strata for the property in question. Items such as a form K release and collecting applicable move/in fees are then done shortly thereafter. In addition a time for move in will be specified and arranged accordingly.
For the tenant move in process, the brokerage will conduct a move-in inspection report. This is important and required by law per the Tenancy Act of British Columbia for the landlord to have any right to using a damage deposit (should this be needed). A thorough inspection is completed with the tenant of property. Any deficiencies are then noted and the report is finalized and a copy of the inspection report is given to the tenant and one kept at the brokerage for records.
Our clients will receive monthly accounting statements as part of their management services. It is at this stage of the rental cycle where they will receive their first statement, which will indicate rent collection, a management fee etc. On going operation of the property then occurs with our experienced management team then taking control. They are there to monitor and deal with any issues that may arise during the course of the tenancy. They have a wide range of preferred trades and contractors, deal with strata communication, rent collection, periodic inspections of the property and much more.
Have questions? Drop us a line anytime below!
Listing your property for rent – https://www.filerwelch.com/rent_with_us
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