Residential Property Management
The management of real estate is a complex and demanding business. It requires a thorough understanding of the ever-changing marketplace, accounts and collections, contracts and laws, and the maintenance and repairs of property. Perhaps most important of all, it is a people business. Put your mind at rest while maximizing the return on your property by letting South Island Property Management Ltd. professionally manage your property for you. Contact one of our excellent property managers by phone, fax, mail or email for details.
Apartment Buildings
Basic Operations - A brief outline of the activities
- 24 Hour Availability – One of our property managers is available 24 hours a day to support the site staff in the event of an emergency.
- Arbitration Expertise – As the Residential Tenancy Act becomes increasingly complex it is important that documentation be accurate and enforceable. We have extensive experience at Arbitrations and Arbitration Review Panel hearings and are able to work with owners in an effort to achieve the desired outcome.
- Tenant Relations - We are careful with our tenant selection process and always try to treat our tenants with respect. We have had many circumstances over our history where former tenants have subsequently purchased properties and have hired us to manage the properties for them.
- Website Advertising - We advertise our available rentals on our own website. Our website provides an excellent search function, one of the best in our marketplace. We are also using social media applications in addition to several `free`websites that we have had good response from. Our website advertising ability is yet another way we provide innovative and industry leading services to our clients
- Designated Trust Account – maintain a designated trust account for each building.
- Prompt Reporting – monthly financial statements and net proceeds are forwarded by the end of each month.
- Repairs & Maintenance – We utilize independent contractors and tradespeople for all maintenance functions. We do not have an in-house maintenance division and thus have no conflicts of interest when it comes to providing maintenance services for our clients. All of our trades’ rates are passed through to the clients at cost; we do not mark up any of the invoices from our trades. As we are preferred customers for many of the trades that we utilize, we obtain lower rates from trades that we pass on to our clients.
Suite rentals
Basic Operations - A brief outline of the activities
- Initial rent up of the dwelling, advertising the unit for rent, showings to prospective tenants, screening rental applicants, selecting tenants.
- Perform a detailed move-in inspection of the property at the time the tenant takes occupancy. Itemize flaws or deficiencies for security deposit purposes.
- Collect monthly rents, maintain security deposit funds and records.
- Arrange for any necessary repairs and maintenance to the dwelling.
- Inspect where necessary to determine the need for repairs and maintenance.
- Pay monthly repair and maintenance expenses, if applicable.
- Provide monthly accounting statements to owners detailing all income and expenses for the month.
- Perform a detailed move-out inspection when tenants vacate, refund security deposit or applicable portion thereof.
- Follow up any required action with the tenant.
- We utilize the standard lease required by the Province of British Columbia and add addendums, as necessary, to meet the needs of the property or the owners.
- Website Advertising - We advertise our available rentals on our own website. We are also using social media applications in addition to several “free” websites that we have had good response from.
Inspection Only Contracts
Sometimes it is nice to be prepared and have a third party assist with the moving of Tenants. At South Island we can be hired to do the walk through move in with your tenant and the move out inspection at the end of Tenancy. This gives owners and tenants the peace of mind that the standard of care is based on consistent expectations.