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

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

Finding the right rental property in Calgary can be difficult. There are so many options available, and it is nearly impossible to find one that meets all of the criteria for your individual needs and wants. Although there are many options available, they often have glaring oversights on the parts of the owners, but these can be mitigated, especially if you use a property management company. 

 

But that is only one method to ensure you find the right condo for rent in Calgary for you. Let’s look at some of the ways you can hone in on the perfect rental.

 

Broad Choices for Condo Rental in Calgary

 

Location

Location is the most important feature of any property, and that is especially important in condos for rent in Calgary. If you work downtown, the Mission and Sunalta districts have trendy, new condos that offer you walking distance to all areas of downtown. However, if you aren’t looking for locations downtown, the nice thing about Calgary is the accessibility of the city. Most locations are reachable within a half-hour drive of each other, so it is worth considering locations that are centrally located. Classic locations like Lincoln Park and Shaganappi spring to mind, but most condo buildings worth their location will have great travel potential.

 

Features

Features can make or break a condo rental in Calgary. While most features are dependent on the individual’s wants, it is important to find a great, long-lasting design in any rental under consideration. Granite countertops, skylights, and indoor gyms may sound luxurious, but many condo buildings will include these features to make the property more attractive for renters. 

 

Condos For Rent Calgary

 

Tips for Condo Rentals in Calgary

Now that you have found condo rentals in Calgary with great locations and stunning features, you should take the time to figure out which ones stand out over the rest. Here are a few tips to guide you to the right decision.

 

Visit the place at different times

Visit the rental in the evening after the showing. Since this is the time most people will be at home, it is important to ensure the property meets your expectations. Be wary of loud neighbours, proximity to emergency service stations, and, if you can access the condo building, obnoxious odors and the like. Visit it on the weekends and see if there is a large community presence or if common areas are consistently overcrowded. These issues can seem minimal at first, but when planning to live there for several months or years, they can quickly wear on the most patient and understanding person.

 

Property Management

Property managers do make a substantial difference in the quality of your condo rental in Calgary. They will provide proper maintenance, clear communication, and quick response times during emergencies. These benefits truly do speak for themselves and selecting a condo rental that has a property manager can be one of the most imperative decisions of the rental process.

 

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 contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com