Out of province rental

8 Replies

Im looking at breaking into the market out of province. I understand you can use a realtor to find a tenant for you for a fee. My question is what happens after the first tenant leaves on his own or gets evicted, Can i still use a realtor to find a new tenant and assist with that process or do i need a property manager for that? Im looking at having a newer condo for more of a hands off approach so i have no need for a property manager for the normal duration of my ownership. Thanks for any help

Hi @Troy Hanc , Property Managers span a wide gamut of services, but I'd say guess that you could easily find one that covers leasing and re-leasing in their services for a reasonable fee.  Ultimately this will simplify your life and make investing a more hands-off ordeal than fishing for a real estate agent to bring a tenant each time you have a vacancy.

However, if you are PM averse, Zillow Rental Manager is your best single-stop for procuring a ready, willing, and able tenant in my experience.

Originally posted by @Will Fraser :

Hi @Troy Hanc, Property Managers span a wide gamut of services, but I'd say guess that you could easily find one that covers leasing and re-leasing in their services for a reasonable fee.  Ultimately this will simplify your life and make investing a more hands-off ordeal than fishing for a real estate agent to bring a tenant each time you have a vacancy.

However, if you are PM averse, Zillow Rental Manager is your best single-stop for procuring a ready, willing, and able tenant in my experience.

 Thanks Will, how much does Zillow charge? Are there any a la carte property management services out there or do Property Management companies including Zillow require a commitment?

Yes, after that first tenant leaves, you can always use a Realtor again to find you another tenant.  Make sure you use a Realtor with tenant rental experience so that you get a good tenant. This is critical.

Originally posted by @Chris Baxter :

@Will Fraser  Zillow services don't exist in Canada.  Realtor.ca listings are reposted on Zillow, and that's about it. 

Be thankful for that and know that it won't last forever.  That's how most of the US was a year ago and now we get to pay $9.99/week for the eyeballs Zillow has :)  

Originally posted by @Troy Hanc :
Originally posted by @Will Fraser:

Hi @Troy Hanc, Property Managers span a wide gamut of services, but I'd say guess that you could easily find one that covers leasing and re-leasing in their services for a reasonable fee.  Ultimately this will simplify your life and make investing a more hands-off ordeal than fishing for a real estate agent to bring a tenant each time you have a vacancy.

However, if you are PM averse, Zillow Rental Manager is your best single-stop for procuring a ready, willing, and able tenant in my experience.

 Thanks Will, how much does Zillow charge? Are there any a la carte property management services out there or do Property Management companies including Zillow require a commitment?

All things are possible.  Zillow charges $9.99 and this will likely be paid by you either way.  The manager will usually handle the leasing and marketing and then ongoing tenant management.  If you wanted them to NOT do certain things I'd guess that most medium size or very small management companies would be able to accommodate that.