I have been seeing in the news that Alberta is doing better and the economy is growing. During a conference hosted by the CMHC (http://www.cmhc-schl.gc.ca/) in December, they discuss how they predict that Alberta will grow in 2012 and the coming years. At the time of conference I was seeing some improvement but not anything too exciting until recently. Magnum at the end of March had no vacancies in Calgary, Red Deer and Fort McMurray. In Edmonton we have only 2.2% vacancy which is awesome!
I am really proud of my managers and all of the hard work showing and leasing units in the past couple of months.
If you are an investor and have properties in Alberta, please contact us to manage your property, we need more properties for our tenants.
This year I attended the CMHC Fall presentation of the housing and rental market in Calgary and Alberta. The presentations were very good with a lot of good information. The overall feeling from the presentations is Alberta is doing good and is going to continue to do good. The analysis were showing a small growth with lower vacancies through the province.
I recommend any one involved with real estate to sign up for the bi-annual rental reports, it is FREE. They have tons of good information. Here are the links.
For the Alberta report: https://www03.cmhc-schl.gc.ca/?lang=en&cat=110
For the Calgary or Edmonton report:https://www03.cmhc-schl.gc.ca/?lang=en&cat=109
Our policy for any property under management has been and will always be "Would you allow your family to live in the property?". It might sound simple but we turn down a lot of properties when the owner isn't willing to fix up the property to this basic standard.
Recently we came across a formal set of standards that support our rule. The standards are from Alberta Health.
Though these standards seem very basic for most of our owners, there are some (more then I was expecting) owners out there that are trying to save so much money that they are putting their tenants in danger.
If any owner is unsure how to meet these stadnards, Magnum would be happy to work with any owner to upgrade their property to these standards.
Our new portal for our investors is up and running. The portal allows our investors, the owners where we manage the rental of their property, to review current and past reports at any time.