Property Management FAQs
Our FAQ section was designed to answer some of the most common questions we receive. We are constantly updating this section as we understand that an owner is going to have many questions when leaving one of their most valuable assets in the hands of a management company. Do not hesitate to reach out with any questions of your own!
We make the process as simple as possible. Contact us by filling out the “Get Your Free Analysis” button found throughout this website. We will send you a link to our online form including a list of some items we need and we take care of the rest!
In most cases all we need is a copy of your ID, your land title (or newly accepted offer to purchase) and a void cheque. If the property is a condo, we will require the building bylaws. We are able to track down the remaining documents for you.
We average less than 1 month from the day you make contact with us to the day we have a tenant moving in. Our goal is to have our photographer taking photos within 24 hours of the management agreement signed.
The short answer is no. We have many clients outside of Alberta who utilize our technology & electronic signing process to get their properties rented without ever stepping foot in our office. As long as we can pick keys up from someone, be it your Realtor, lawyer or a friend, we can manage your property!
Click on the “Get Your Free Analysis” button that is found throughout this website for one of our team members to email you the realistic market rent for your property.
Owners are paid out on the 15th of each month – or the first business day after the 15th should the 15th fall on a weekend or holiday. We take pride in being on time or early with owner payouts!
To start, this is a very rare process at Modern Property Management. Our thorough tenant screening helps avoid problems before they start. Should the unlikely happen, we will file documents with the courts, provide evidence, serve documents, attend the hearing, receive a judgement and act on the judgement. This comes at no cost to you as it would go against our “no fee” policy!
Absolutely… we actually recommend it as periodic maintenance can help avoid costly repairs in the future. If you have any jobs you want performed at select intervals, let us know and we can send in our preferred vendor or use one of your own!
We understand that life can change unexpectedly so we would prefer to work with a tenant than be stuck in a battle for the balance of the lease. We offer tenants the ability to get out of their lease once a replacement tenant is found that is fully screened by Modern Property Management. The tenant pays a fee for this service as it doubles our work load but in the end, it is a win for everyone from the tenant to the homeowner and Modern Property Management.
We do not verify your insurance policy although we do request that all owners verify once per year that they have the proper coverage for their rental property. Tenants are required to have mandatory tenant insurance however you never want to rely on this.
This is a very straight forward process. The first step is to try and contact you to inform you that a repair is necessary. In many situations, we are able to send our handyman to help save you money. Our handyman will determine if the repair is due to normal wear and tear or if it is from tenant neglect. If the repair is from tenant neglect, the tenant pays for the repair. If it is due to normal wear and tear, we will get it fixed. We then pay the invoice and deduct the cost of the repair from your next payout. We do not charge any mark-up or premium on repairs and always want you to be kept in the know throughout the process.
Most of our clients select the full service property management option however we do offer a few “one time” services.
- Tenant eviction processes: If you manage your own property and need assistance in tenant eviction, we are available for hire.
- Tenant Placement Only: If you only need us to find a tenant, we will advertise, show the property, screen tenants, prepare a lease, conduct the move in inspection and then put you back in charge.
- Property Check Ins: Many insurance companies require frequent check ins of your property, be it when your property is vacant or tenant occupied. We are available to check in on your properties.
We couldn’t call ourselves Modern if we still used the paper checklist. Our inspections at move in, move out and periodic check ins are packed with photos and video documenting every angle of your property. We use an advanced software to enable us to capture as much of your home as possible. This prevents a “that was already there” situation when a tenant moves out.