1. Management Plan

2. Tenant Management
Blueprint
① Starting the relationship
② Staying organized
③ Maintaining the relationship
④ Go over and above expectations
⑤ Repeat customers and referrals
⑥ Know your rights and responsibilities

3. Case Study
Underperforming Property

4. Case Study
Underperforming Property
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4 bedroom, 3 bath 1800sqft, unfinished basement
Purchase Price $270,000, EMV $325,000
20%down = $54,000
CASH
Principle Balance= $216,000
FLOW
$1700/Month
Renovation and Rent= $41,000
Appraised ARV= $355,000
Refinance 80% LTV = $284,000 - $216,000
= $68,000 after paying original mortgage
=$68,000 - $41,000 = $27,000

5. Case Study 4
Underperforming Property

12. Tenant Management
Blueprint
① Starting the relationship
② Staying Organized
③ Maintaining the relationship
④ Go over and above expected
⑤ Repeat customers and referrals
⑥ Know your rights and responsibilities

13. Starting the Relationship
Ø Welcome Gift
Ø Monthly/Quarterly letter/email/phone call
Ø Welcome info sheet

16. RD.
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Route 59 University Gordon PM Only
February 2008

18. Starting the Relationship
Ø Welcome gift
Ø Monthly/Quarterly letter/email/phone call
Ø Welcome info sheet
Ø Deluxe welcome package

20. Move In
Ø Be there
Ø Document everything
Ø Have them sign off on property condition

23. Move In
Ø Be there
Ø Document everything
Ø Have them sign off on
property condition
Ø Fire safety

25. Tenant Management
Blueprint
① Starting the relationship
② Staying Organized
③ Maintaining the relationship
④ Go over and above expected
⑤ Repeat customers and referrals
⑥ Know your rights and responsibilities

26. Stay Organized
Ø Set it up right the first time
Ø Leverage technology! AUTOMATE

27. Stay Organized

28. Stay Organized
Date: March 6th

29. Stay Organized

30. Stay Organized

31. Tenant Management
Blueprint
① Starting the relationship
② Staying Organized
③ Maintaining the relationship
④ Go over and above expected
⑤ Repeat customers and referrals
⑥ Know your rights and responsibilities

32. Communicate Every
90 Days

33. Repairs and
Maintenance
Ø Quarterly inspection
Ø Maintain and repair items before they ask
Ø Repair items within 48 hours
Ø Furnace/AC/Appliance protection plan
Ø Have more than one handyman on call
Ø Submit repair requests via online form

34. Easy Payments
Accept credit cards
Post-dated cheques

35. Easy Payments
www.squareup.ca

36. Tenant Management
Blueprint
① Starting the relationship
② Staying Organized
③ Maintaining the relationship
④ Go over and above expected
⑤ Repeat customers and referrals
⑥ Know your rights and responsibilities

37. Go Over and Above
Ø Holiday card and gift
Ø Annual party for all your tenants
Ø Coupons and special offers
Ø Property safety: security system

38. Go Over and Above

39. Tenant Management
Blueprint
① Starting the relationship
② Staying Organized
③ Maintaining the relationship
④ Go over and above expected
⑤ Repeat customers and referrals
⑥ Know your rights and responsibilities

40. Repeat Customers
and Referrals
Ø Set up a system of rewards for referrals
² Gift cards
² Cash
Ø Keep all past tenants in your database.
Stay in communication with them.

41. Repeat Customers
and Referrals
7.
Promoter
6. Supporter
5. Member
4. Customer
3. Shopper
2. Prospect
1. Suspect

42. Tenant Management
Blueprint
① Starting the relationship
② Staying Organized
③ Maintaining the relationship
④ Go over and above expected
⑤ Repeat customers and referrals
⑥ Know your rights and responsibilities

43. Know Your Rights
and Responsibilities
Common Reasons to Evict a Tenant:
1. Non payment of rent
2. Unit owner is moving in
3. Damage to unit
4. Interfered with safety or enjoyment of another tenant
5. Too many people living in the unit
6. Tenant engaged in illegal action

44. Know Your Rights
and Responsibilities
Document everything the moment you suspect
a problem.
Ø Time/date logs
Ø Pictures and videos
Ø Testimonials: neighbors, tenants, contractors, etc

45. Know Your Rights
and Responsibilities
Governing Body in Ontario
The Landlord and Tenant Board
Governing Legislation in Ontario
The Residential Tenancy Act 2006

46. Know Your Rights
and Responsibilities
Common Scenario
“My tenant has not paid the rent they owe”
1.
2.
3.
4.
5.
6.
File Notice: N4
Wait 14 days (7 days for a daily or weekly rental)
File application: L1 $170
Receive hearing date from the board
Notify tenant of hearing date
Appear at the hearing

47. Know Your Rights
and Responsibilities
Document everything the moment you suspect
a problem.
Ø Time/date logs
Ø Pictures and videos
Ø Testimonials: neighbors, tenants, contractors, etc