In this episode, Rachelle discusses how to select tenants, how to collect rent arrears and much more.
– Property management is the things that have to be taken care of between the buying and the selling.
– Concerns about managing purpose built rentals.
– If you’re trying to save money in the wrong spots, it will backfire.
– You have to have a clean place. Whoever is presenting the apartment needs to be on top of their game.
– We maintain the property and tenants pay the rent. If those rules are followed everyone is happy.
– Don’t escalate situations, be the voice of reason.
– There’s been a trend through the years of letting rent arrears fly, don’t let them get away with it.
– Growing your knowledge of the process is valuable.
– The current situation with the LTB is very wrong.
– The nice thing about small claims court is people either pay or go bankrupt.
– Landlord tenant board vs. small claims court.
– People renting out your apartments should have experience. A gut instinct for good tenants is rare.
– How to avoid being manipulated by tenants sob stories.
– Think long term when selecting tenants.
– You want to go to the ltb with things that are worth while and that you are likely to win.
Rachelle makes delicious chicken tacos, enjoys regular mani pedi’s & walks with her dogs. She is a grateful mom to an amazing 10 year old son Matthew and partner to her long suffering mate, Fritz. After working for what seemed like hundreds of years in purpose built rental buildings, in 2007, Rachelle decided her talents as a property manager would be better suited to helping small landlords and Landlord Rescue was born.
Rachelle’s vision was to bring the risk management and processes she had learned working in rental buildings to small landlords to protect them from predatory tenants.
Rachelle and her team currently manage a GTA wide portfolio of houses, condos, co-ops along with servicing a large clientele of rental only clients.