Property Management and Real Estate Services

Do you dream of having your own investment property? 

 

With “56%, Alberta boasts Canada’s highest home ownership rate among those aged 25 to 35”. That means the idea of having a strong asset to build your future on and generating consistent monthly income while taking advantage of today’s low-interest rates is a good one, particularly if you’re new to the industry. 

 

Let’s take a look at the advantages of investing in Calgary rentals and how you can start the process of investing for your future. 

 

What are the Advantages of Owning a Calgary Rental? 

 

  • Receive regular monthly income – the rent you collect, minus your expenses, means a steady, predictable flow of cash flow. You can use the extra funds to pay off your investment property. You can even use it as an Airbnb investment if you wish. 
  • Asset appreciation – There is no guarantee that your property will increase in terms of value, but historically, real estate has appreciated over time. That means you’re making money off your asset in future. 
  • Tax deduction – Play your cards right, and you can deduct specific expenses from your gross rental income. These can include property taxes, insurance, maintenance costs, property management fees and even utility bills. 
  • Vacation spot – Imagine taking a few days off and enjoying a break somewhere? That’s what you can get when it comes to your new rental property. 

Suburban House

 

How To Buy a Calgary Rental

 

If you ready to take the plunge into the investment market for the first, here is how you can go about getting your dream property: 

 

  1. Get your finances in order – Determine what you can afford to buy, seeing if you have enough in terms of a minimal down payment (Canada’s mortgage rules dictate that you need a minimum of 20% for a small rental property) 
  2. Assemble a team of experts to assist you – You can’t do the work yourself. Bring together a real estate agent, mortgage broker, lawyer, property management company, home inspector and insurance agent. 
  3. Research what you can afford – Whether it’s a condo rental or a house in Calgary, consider what you can afford and what you can buy. 
  4. Choose your mortgage and insurance – Your rental property is a valuable asset, so it needs some financial backing to make it work. Speak to your mortgage and insurance broker to determine the best rates for your budget.
  5. Hire a property manager – If you don’t have the time to respond and manage your Calgary rental property, then leave it to a professional that can. It’s not overly expensive to bring on board a professional company. 
  6. Learn about landlord/tenant laws – Alberta has some strict landlord/tenant laws that promote fair rental practices for both sides. It’s best if you know about them so that you know what your rights and responsibilities are. 

 

Owning a rental property can be a lucrative proposition that secures your future. But it does take a lot of work, research and planning. If you plan to buy an investment property, take the time to ensure that the research backs your claim. 

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Just like we did when we previously discussed the differences between condos and apartments, we will compare two popular housing options: it’s condos vs townhouses. 

 

Let’s take a look at the distinct differences between these two property options. 

 

The Basics 

 

The best way to start this off is to determine the basics of each property:

  • Condos are similar to apartments in that it is an individual unit residing in a building or community of buildings. Unlike apartments, condos are usually managed by an association or condo board, with each individual owning a condo. 
  • Townhouses are attached homes that the resident owns, but unlike regular homes, one or more walls are shared with an adjacent attached townhome. 

 

While they might share some development similarities, the two’s biggest difference comes down to ownership, homeowner associations, rentability, and fees. Let’s break each of these down.

 

Ownership Rules 

 

In terms of ownership, there is not much difference between the two. 

 

Firstly, when you purchase a condo, you personally own your unit and share joint ownership of the building with the other owner-tenants. Therefore, you will contribute financially (more on that below) to the building’s overall running and your own individual unit. 

 

On the other hand, townhouse ownership means that you own the building and the land it sits on. It is similar to a traditional home; instead, you might share some of the home’s walls with other detached dwellings.  

Ultimately, it all comes down to what you want and what you can afford. 

(Read our guide on what to look for in a condo rental)

 

Homeowners’ Associations (aka, the Board) 

 

The biggest difference between condos and townhouses against single-family homes is homeowners’ associations (HOAs), better known as ‘the board’. 

 

The HOA is run and operated by other tenants of the property, who handle the day-to-day maintenance of the shared spaces either through an individual or a Calgary property management company and establish all the rules. These can include noise levels, parties, pet allowances, renting out the property, and the extent you can conduct renovations within your unit (such as if it affects others or impacts their livelihood). 

 

When purchasing either, you will have to pay monthly fees to the association to maintain the property. HOAs manage the building, its grounds, roofs and exteriors of the structures and common interior spaces in many cases. 

 

In terms of condos vs townhouses, it all depends on how the HOA operates, their fees and rules. You’ll have to compare both and see the best option for you, both in terms of lifestyle and budget. 

 

The Costs of Owning The Properties 

 

Even with monthly HOA fees, owning a townhouse or a condo is more affordable than a home. 

 

Modern Luxury Apartments

 

Yes, you have to pay for property taxes, home insurance, and home inspections (before taking control of the house), as well as the various maintenance fees that come with managing the property. Still, overall they’re great options for first-time homebuyers or anybody on a budget. They’re also great as investment opportunities, particularly as Calgary rentals

 

(What to know how to make money from rental properties? Read this!)

In terms of the cost differences between the two, condos tend to be cheaper to buy since you invest in any land. The

HOA might be higher, though, but you won’t be worried about maintaining the land itself.  

 

The Better Resale Value

 

The resale value of each of these properties will never be as high as a single-family home, but that doesn’t mean you can’t make a profit. 

 

When it comes to appreciation rates, condos have generally been slower to grow in value than townhouses, but times are changing. The boom in condo properties, and their quality, coupled with the potential to profit as a condo for rent in Calgary, means you can still make a worthwhile investment after a few years. Townhouses, though, still offer high resale value. 

 

The biggest concern is that buyers have to consider other factors out of your control, including how well run the HOA is, their fees, maintenance, what the building or land offers, and any future developments. 

 

Which is Better For You? Calgary Condos or Townhouses? 

 

When choosing between the two, it’s best to consider your budget, lifestyle, and short-term and long-term plans. 

 

There’s no real winner—both have their pros and cons, and both have a fair amount in common with each other. Speaking to HOAs, real estate agents and Calgary property management companies can help. From there, you’ll be able to make the best decision.

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Rental properties are a wise investment that can pay off in the long-term. But the key question for a lot of people before investing is, “how do I make money from a rental property?”. 

 

This guide gives you a few pointers on how you can make money with your Calgary rentals

 

The Best Ways to Make Money With Your Calgary Rental 

 

Finding Properties in the Right Areas

There are a lot of condos and homes for rent in Calgary. But finding one that is going to be worth the investment relies on a few factors. Most importantly, the location. 

 

You want a property that will be close to amenities, transportation and key locations, such as schools and hospitals. Add all these together, and you narrow down a selection of ideal properties as a rental investment. 

 

And it’s through these areas and properties that you can make money through rental income and the curbside value. The better the location and property, the more you can charge for rent. 

 

If you can’t find something within your budget, you can always speak to a real estate agent or a Calgary property management company. They can aid you with your search for a property within your budget and desired area. 

 

Future Development Around The Area

Having a good idea of what is going to be built around your property is crucial. You can check out the City of Calgary Municipal Development Plan to determine what construction is occurring around your home. 

 

How does this help?

 

If there is a lot of construction and developments going on, it is probably a good growth area. This means that you can have access to more amenities, services or highway accesses, which will enhance the value of your rental property (making it more profitable when selling later on) and can encourage you to increase your rental rates. 

 

Being near growth areas means the suburb is a hot ticket item. You got the opportunity to make the most of it with your rental property. 

 

calgary-rentals

 

Compare Rates To Your Area 

You might not realize that you’re not charging enough rent for your property until you do the research. By researching the surrounding area to see what others are charging for rental rates can give you an insight into if your rates are unvalued. 

 

You might be offering way less for a quality home compared to another down the road that is more expensive and doesn’t provide the luxury your home does. 

 

Only by conducting research into other rental rates and comparing properties, can you charge the right rates for your Calgary rental.

 

Investing in Improvements 

There is no question that the more you invest in your Calgary rental, the more you can charge renters and sell it for more in the future. Investing in improvements, such as renovations, can go a long way to enhancing the value and curb appeal of your property. Crucially, it also allows you to charge for more rent as you provide a better, more luxurious home. 

 

But which renovations are best for your property? 

 

If you own a condo, you will have to follow the condo board’s rules and regulations for any interior renovations. Speak to them before managing it yourself. 

 

For homes, you can do as you wish. HGTV suggests that the following renovations can be well worth your investment: 

 

  • Minor Bathroom Remodel – Average return at resale: 102 percent
  • Minor Kitchen Remodel – Average return at resale: 98.5 percent
  • Major Bathroom Remodel – Average return at resale: 93.2 percent
  • Exterior Improvements (Vinyl Siding, Paint, Updated Front Entry) – Average return at resale: 95.5 percent

 

Whatever you decide for your rental property, remember that renovations can make a significant impact and help you make money both through rental income and selling your home later on. 

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

If you have money that you would like to invest in real estate, there is no better way than to maximize it. Using your money wisely, and planning for the future, can ensure that you make the most of the property while securing your investment (and future) in the process. 

 

We look at the pros and cons of four of the best real estate investing options available. 

 

Principal Residence Property 

Perhaps the most important method for real estate investing in Calgary is for your principal residence property. This is the house that you will live in and make your primary residence.  It is more than just a residency; you are making a long-term investment.

 

When owning a principal residence property, you pay off the mortgage to the property while growing your wealth. You will need the initial capital (known as the down payment) to secure the property. 

 

Once the property is yours, you can use it for rent (option three below) or improve it before selling it for a higher price in the future. That extra income will allow you to reinvest it in other properties or ventures. 

 

The only downside is that you will have to maintain it, and of course, pay off the mortgage, which can be challenging and decisively long-term. 

 

Residential Rental Property 

Perhaps the most common and significant way in which you can invest your money. With so many houses and condos for rent in Calgary, there is ample opportunity to buy an investment property. 

 

Owning a Calgary rental opens up the opportunity to earn an income through the rent collected, and pay off the mortgage on the rental property. It is the smartest way to go about making money while securing your investment for the future. 

 

However, owning a rental property is not easy work. As an active investor, you will have to manage the people of the property and maintain it. You will also have to invest in repairs and improvements, thereby requiring a very hands-on approach. 

 

Therefore you have two options: you can manage it yourself, or hire a property management company in Calgary to do it for you. While there will be a fee for their services, having a property manager look after your apartment ensures that all maintenance, repairs, and most significantly, the management of the renters are handled. 

 

calgary-rentals

 

Investing in Commercial Rentals 

Commercial properties can include anything from office centres to shopping malls. If it has the space to be used as a commercial property, it can be rented out to businesses. The owners of the property (you) can earn significant income through the rent from their tenants (the businesses). 

 

However, commercial investments do not have the same level of ring to it compared to residential properties. The main drawback is the expense that comes with acquiring, managing and maintaining the commercial property. 

 

As you will be looking after businesses and their employees, you have to ensure that the property is up to standards in appearance and safety. It is very much an active investment, requiring you to be very hands-on with managing the property and dealing with tenants. 

 

Between the expensive upfront capital and the complexities of managing it, many investors tend to opt for residential properties instead. 

 

Airbnb Your Property

Perhaps the most modern manner in which you can maximize your investment. Whether through your own property or a rental, you can rent out the space to earn you some extra cash. 

 

You have the opportunity to rent our guest suites, spare rooms and whole houses for a rate that you deem justifiable. You will have to consider factors like amenities, distance to attractions, transportation and the space itself to set a rental value. 

 

Much like Calgary rentals, you choose who you want to rent your space, after reviewing their ratings on the platform. You can rent it out to them for a night, weekend, or month. 

 

However, the main downside is that tenants are not always reliable when looking after the property. These short-term tenants do not typically take good care of the property as much as long-term tenants usually do. You also have to be entirely aware of any regulations and laws when it comes to Airbnbing your property. 

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Buying a rental property in Calgary can be a worthwhile investment. However, for first-time investors, it can be overwhelming. The real estate investment market is riddled with various scenarios that can impact the whole venture. 

 

But having a reliable approach in which you can buy a house to rent can be valuable. This guide can help you invest in a property that pays off in the long-term. 

 

The Advantages of Buying a Calgary Rental Property

 

There are significant benefits that come with owning a house for rent in Calgary, including:

 

  • Regular monthly income – Your rent, minus the expenses, means consistent and steady cash flow. 
  • Appreciation – While there are no predictions regarding how much your home’s value will rise over time, it will appreciate over time regardless.
  • Tax deduction – Considering that your rental property is an asset, you can claim deductions from your gross rental income come tax time. These can include mortgage interest, property taxes, insurance, maintenance costs, Calgary property management fees and utility bills. 

Although there are some disadvantages, the positives outweigh the negatives. 

 

calgary-rentals

Essential Tips For Buying a Calgary Rental 

 

If you’re ready to take the plunge into the investment property market, consider these tips first.

 

1 – Get your finances in order. Depending on your lender, Canada’s mortgage rules dictate that you must have at least 5% of the down payment on a property. Remember to consider other factors such as maintenance, costs and insurance. Crunch the numbers, and speak to your bank to see what you can afford.  

 

2 – Research ideal locations & their rental income. With a firm base of what you can afford, narrow down your search zone to see where you can buy it. Then, consider the average rental income for those locations. You can then calculate if it is worth investing in the area. You can also speak to a property manager in Calgary about location information. Make sure you consider:

 

  • Future developments planned for the area and how they might impact your property. 
  • Amenities, such as schools, hospitals and malls, around the area and how they might impact renters.
  • Safety, as no one wants to live in an unsafe neighbourhood. Inquire about crime rates. 

 

3 – Educate yourself on landlord-tenant laws. It’s best to know what laws you have when you start to rent out your property. Having a thorough understanding of what you and your tenants can and can’t do will be beneficial if issues arise in the future. 

 

4 – Think about the long-term. Remember that this property is about the long-term. It’s about making sure you have some income that will secure your future. Consider the options available to you, and if it is worth the investment. 

 

Plan Out Your Calgary Rental 

Once you have your property mortgaged, it is time to consider how you plan to rent it. There are two options: 

 

1- You DIY. You’re the landlord, and you run the property, taking care of everything, from collecting rent to property maintenance. 

 

2- You hire a Calgary property management company. The agent in charge of your property will handle everything for you for a monthly fee (which, as stated above, can be claimed on tax). 

 

Remember that there are many condos and houses for rent in Calgary as it’s a renters’ market. You will face stiff competition in terms of getting your home rented, so if you struggle with the extra work, consider hiring a professional to handle everything for you.

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Investing in a rental property is an excellent idea for your future. But finding that rental property that will be a worthwhile investment is the problematic part. From crunching the numbers to working alongside property management companies in Calgary, here is how you can find an excellent rental property to invest in.  


5 Steps To Finding A Rental Property In Calgary 


See How Much You Can Afford 

Without the finances to back you up, there is no point in even bothering to look for an investment property. To find a rental property that is going to help you in the long run, you have to make sure that you have the funds to back it up. Speak to your bank or mortgage broker, and get an insight into how your finances hold up, so you can see how much you can afford for a second mortgage. 


Affording The Maintenance Over The Years 

When owning a rental property, it all comes down to you to make repairs and ensure that it is up to standard. You will have to consider the funds needed for repairs, renovations and utilities over the years, as well as see if your finances can support any changes if required. In most cases, rental owners will hire a Calgary property management company to handle all the work, as financially, it’s worth it.


Evaluate Your Desired Neighborhoods

Once you have sorted out your funds, it is time to evaluate the properties within a few neighborhoods that you like. What is the market rate for the rental properties? Are they increasing or decreasing? How is the accessibility to amenities, such as schools, hospitals, public transport and local businesses? Evaluating the neighborhoods will give an idea to know if buying a rental property in that area will be worthwhile.


Compare Properties 

To narrow down how much a rental property would earn you, you have to find comparable properties in the area and calculate the rent. Look at three properties in the area that are roughly the same size and condition of a property you’re interested in. Compare the rate in which they charge rent and how your rental property in Calgary can stand up to that. You need to see if it is worth the investment over the years.


Consider The Appreciation Of Your Property Over The Years 

There are two ways to ensure that the value of your property will increase over the years. Firstly, research the neighborhood (like you did with the evaluation) and see if the market rate of the homes in the area has increased over the years. This is market appreciation and it means that your rental property’s value will rise over time. Secondly, if you plan to do repairs or renovations, it will further enhance the value of your property. You have to assess how what repairs or renovations you are planning to do in future. These two factors will help you understand the appreciation of your property in the years to come. 


At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.


Unison Realty Group Ltd.

Calgary’s Choice for Property Management & Rentals

For any questions or enquiries contact us:
Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

When it comes to the best neighbourhoods in Calgary, some of the best places to rent with a rental property management company this year include three key areas that have become bustling centers of the city. We weigh these choices based on accessibility to parks, public transportation and pathways. While buying a house in one of these trendy inner-city neighbourhoods may be out of the question for some people, Calgary rentals are a more affordable and feasible option, especially for young people.

Calgary Rentals in the Beltline

One of the best places to rent through a Calgary rental management company, the Calgary Beltline has the vibrant inner-city vibe and everything seems to move with life. When you live in the Beltline, you don’t have to worry about not having a car because there are many restaurants within walking distance and plenty of culture and entertainment. Speak with a property management company to form a better picture of what life will be like there.

Calgary Rentals in the Downtown Commercial Core

If you want to live in the beating heart of the action, the Downtown Commercial Core area never disappoints. Here, in one of the densest downtown areas, there are plenty of great attractions, including:

  • Arts Common
  • Glenbow Museum
  • Calgary Tower
  • Devonian Gardens
  • Cultural District

Calgary Rentals in Hillhurst

Speak with your Calgary property management company about showing you some unfurnished rentals in Hillhurst. This area has a cozy vibe with small but well-kept homes. Also, Riley Park has around 20 acres that even hosts the Calgary Cricket League.

Calgary Property Management

These are some of the best neighbourhoods to find Calgary rentals this fall season. Most of these areas offer unfurnished rentals, an option that will lower your monthly rental costs. Experience what living in Calgary’s bustling inner-city is like when you choose one of these popular neighbourhoods.

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

Unison Realty Group Ltd.

Calgary’s Choice for Property Management & Rentals

For any questions or enquiries contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

Finding the right Calgary property management company begins with asking the right questions. The right company offers you peace of mind while providing you with reliable service and competitive pricing. The main two types of questions focus on short term and long term issues that will help you begin your search for a company you can rely on.

Continue reading “Two Types of Questions to be Asking a Property Management Company”

A real-estate broker is an experienced person who has dealt with many mortgage related transactions and deals. Because they are experienced in this field, they can easily guide a buyer or a seller during their real estate buying and selling process. Agents usually present the deal on behalf of their client, assist during the legal procedure, closing and help the client during the transaction proceedings.

Continue reading “How A Real-Estate Agent can Help You with Your Property”