Urban City Rental's has launched it's brand new Live Chat service available to for all tenant prospects and clients alike! In our efforts to provide superior rental property management and tenant placement services to our investment rental property clients, our Live Chat offering aims to provide immediate real time contact with potential tenants to maximize exposure and market responsiveness. 

With the number of competing rental properties on the market, our Live Chat services can pro-actively engage with our website visitors which increases the response rate from viewers, resulting in quicker rental turnaround for your investment property rental.

For more information on our Tenant Placement and Rental Property Management Rates and Fees - call Urban City Rentals today at 604-677-7369 and speak to one of our licensed and experienced property managers to discuss your rental needs today!

One question we often receive at Urban City Rentals from investment property owners is whether to rent their property as an unfurnished or furnished option.

If your property is a waterfront suite with exclusive views and top end furnishings, it may do well as an furnished rental.

However, in our experience, renting an investment property as unfurnished is often the best long term strategy for the following reasons:

- Unfurnished rentals are generally longer term (1+ years minimum), leading to less turnover.

- Tenants tend to treat the property better when they settle in long term with their own furnishings.

- Less overall vacancy (compared to 30% annual vacancy for furnished properties).

- Minimize the wear and tear from tenant turnover as furnished rentals tend to be short term (1-3/6 months).

- Tenants seeking furnished rentals are typically from out of country, making it more difficult to effectively screen and qualify.

Also, when considering the addtional expenses involved with running a furnished property (linens, plate, glassware, utensils, bedding, etc) PLUS utilities (Hydro, cable, internet, phone) while also factoring in the high potential for vacancy and increased wear and tear on your clients investment property, it is clear why we always recommend to our clients at Urban City Rentals to rent their investment properties as an unfurnished option!

If you have investment buyers who are looking for professional tenant placement and rental property management services, please contact Urban City Rentals!

- Urban City Rentals does not provide trading services

- Urban City Rentals acts as a partner, complimenting your trading service activities

- Our professional approach and client assistance will always reflect positively on your service

- Your clients' future purchase and sale requirements will always be referred back to you

- You will find our years of experience and expertise in all tenancy matters invaluable

- Maximize your clients' return on investment

 

Please call Urban City Rentals at 604-261-4560 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or visit our website at http://www.urbancityrentals.com  for more information.

I always say that "95% of your tenant problems can be eliminated in the screening process." If you're like me, you probably find it difficult to relax when you have vacancies. So getting it rented is the main idea, right? Well, from now on, lets say "getting it rented to a properly qualified tenant is the main idea."

Below is what I call The 5 Steps of Screening Tenants.

STEP 1: First Contact

From the very first contact with the tenant, the screening process has begun. Whether you are the landlord, real estate agent or property manager, the same still holds true.

First Contact is usually by telephone, so you need to ask the right qualifying questions in order to decide if you should proceed to step 2. Advise customers of your up front rent and security deposit requirements and other important facts regarding the rental that may help disqualify the prospect.

I suggest you make a list or prospect card of questions to ask and have it handy while you conduct your first contact interview. For example:

• Name:
• Phone:
• Reason for Moving:
• # of People & Relationship to You:
• Intended Rental Term:
• Occupancy Date:
• Pets:
• Smoking:
• Credit:
• Landlord Reference?

Please note that anyone who has a problem answering your questions (as long as you ask them politely), probably will not qualify for your rental. Serious customers want to make a good impression on you and should be happy to answer your questions. This process can save you and customers a lot of time and trouble.

STEP 2: Showing the Property

From landlords to real estate agents, we all have our own style in showing the rental. I think we all need to be aware of certain telltale signs to watch for while evaluating your prospective new tenants.

1. Appearance. Is the prospect neat and clean? Did he or she make an attempt to make a good impression? In most cases, an unkempt person keeps an unkempt lifestyle and home.
2. Car. Does the prospect have a nice car? Is it clean? Although we can't judge people by their car, we should take note of it along with other details.
3. Attitude & Manners. Does this prospect behave respectfully? Does he or she show indications of being difficult to deal with in the future? Did the prospect wipe his or her feet when stepping into the house? Did the prospect walk into the rental while smoking? You can learn a lot about people even before speaking to them. Sometimes it helps to pay attention to details.
4. Criticizing the property. Are the prospects pointing out legitimate concerns, or are they trying to come up with items to negotiate price?
5. Yes or No? Can the prospect make the decision now or will they have to think about it? If they know now that they want your rental, did the prospect come ready to give you a deposit and fill out an application?

STEP 3: The Application Process

The first thing you need is a quality rental application. Let the applicant know that his or her application will be considered along with others, and you will notify the applicant once a decision is made. Advise the applicant(s) that it is very important to fill out the application as completely as possible. If you (and I recommend you do) run a credit report on the applicant, I suggest you be sure to collect a screening fee. This is a provision in the The LPA Rental Application.

Inform your prospective tenant that the application must be returned as soon as possible to avoid the risk of losing the rental to a competing prospect.

Review and verify the application thoroughly and look for inconsistencies and "red flags". When you are satisfied, you will proceed to approving your new tenant in step 4.

STEP 4: The Approval Process

This is usually a fun part, but keep in mind that you are still screening the applicant while preparing him or her for the next step. I like to congratulate the applicant on being approved and let them know they came in 1st place. Also, let them know if you made any special concessions just for them, such as overlooking minor credit infractions, etc.

This process is also an opportunity for you to make sure the applicant can and will deliver. Set the time, date and place for your lease signing. Instruct the applicant(s) to bring the proper amounts of monies, identification (if you don't already have it), and how you prefer to be paid. (Check*, money order or cash)

* Be sure to tell your new tenants that possession or keys will be given only after checks have cleared.

STEP 5: The Lease Signing

It is very important that you have a quality residential lease. You'd be surprised at how many people would just sign a lease without reading it! And I don't just mean tenants! I believe it is crucial to read the entire lease with the tenants at a lease signing. It is your agreement with them. Shouldn't you both know what is really being agreed to? As you read the terms of the lease with the tenants, you will be able to conduct your 5th and final step of screening. Does the tenant argue on every item? Is the late charge an issue? And so on.

Of course, if you are unhappy with how your prospect responds to you and/or your lease, you must not rent to this person. I believe: "It is better to have NO tenant than it is to have the wrong tenant."

John Nuzzolese
The Landlord Protection Agency
http://www.theLPA.com

As a valued added service to all our residential rental property management clients, we provide complimentary professional production of online virtual video tours for every rental property listed through Urban City Rentals!  Video tours allow prospective tenants the ability to view a live look into the property while professionally showcasing properties to attract the best tenants for our owners.

By offering live video tours, your rental property can be rented for much higher values and more quickly, resulting in more profits and rental income for your investment property.

Likewise, through video Urban City Rentals is also able to provide owners of rental properties with a live documentation of the condition of their property to minimize any disputes over any required repairs due to damages caused by tenants. 

Many rental property management companies charge close to $500 for such a service (if they do at all) but at Urban City Rentals, we include this service free of charge for all tenant placement and full rental management clients.  Our objective is to rent your suite at the best possible price in the shortest amount of time and online video tours have proven to be the most effective method of achieving successful results.

View Urban City Rental's Youtube video page at:

http://www.youtube.com/user/urbancityrentals

At Urban City Rentals, our continued efforts to leverage the power of social media (ie. Facebook, Twitter, etc) has resulted in immediate returns for many of our investment real estate clients.  By dedicating resources to building an extensive reach through social media, Urban City Rentals has created a solid Facebook fan base and a loyal group of Twitter followers.  By capitalizing on the popularity of social media to reach tenant prospects, partners, clients, industry leaders and more our efforts has resulted in tangible results and improved execution of our rental property leasing and marketing efforts.

Follow Urban City Rentals on Facebook and Twitter here:

http://www.facebook.com/urbancityrentals

http://www.twitter.com/urbancityrental

Most of the sneaky little tricks listed below can easily be thwarted with proper tenant screening and a little landlord tenant knowledge.

1. The Old "Fake Credit Report" Trick:

With today’s computer technology, it is quite easy for a tenant to fake a credit report. Anyone can get a free copy of their own credit report online and make a few “modifications” on it before printing it out and presenting it to an innocent, unsuspecting and impressed landlord.


2. The Old "Totally Fake Identity" Trick with great credit report:

Fake IDs are sold to under aged kids who want to get into bars all over the country. It is easy enough for a con-man tenant to get a fake ID to match his friend’s or relative’s credit report and present him/herself as that person. It is a good idea to check IDs carefully and verify as much information in that person’s name as possible.


3. The Old "I'm a victim of Identity Theft" Trick:

A popular excuse for a bad credit report. Blame it on identity theft!


4. The Old "My spouse ruined my Credit" Trick:

A popular excuse for divorced deadbeats. Blame it on the Ex!


5. The Old "Fake social security #" Trick:

Many fraudster rental applicants present fake social security numbers on their rental application. Often it is their child’s or a made up number that brings incorrect or no results. When asked for an explanation, they may pretend they don’t understand why this happened.


6. The Old "Self Employed with fake income records" Trick:

Self employed tenants are among the most difficult references to verify. Why, because as their own boss, the tenant prospect is giving you his own references on himself. Is it possible he might exaggerate his success and income and create corresponding exaggerated reference material? You bet it is!


7. The Old "Threaten the Landlord with a Discrimination Suit" Trick:

A common tactic of a disgruntled rental reject. This trick works on many scared inexperienced landlords.


8. The Old "Move In FREE" Trick:

The tenant shops rentals with desperate landlords who offer a free first month and no security deposit. They live free until they get tired of stringing the poor sucker along.


9. The Old "This place needs work" Trick:

One of the oldest negotiating tactics in the book is to insult the product (or rental property in this case) with depreciating comments and requests for repairs and/or improvements to be done. An eager landlord is often side-tracked from the screening process by these decoy tactics.


10. The Old "Fake Injury Threatening Lawsuit" Trick:

Some tenants, usually when they hit hard times, will pretend to get hurt on the property and blame it on the landlord’s negligence. They first call and ask about the landlord’s insurance coverage. Then, while cleverly hinting they might sue you, they may ask for free or reduced rent for a while because they have medical expenses. Then they find an opportunistic attorney to help them commit insurance fraud by suing you for a settlement.


11. The Old "My Bank Made a Mistake" Trick:

To avoid a late charge or even just embarrassment, tenant may lie to you by blaming the reason for their bounced check on the bank,


12. The Old "I’m out of Town" Trick:

A common excuse why the tenant was not able to pay the rent on time. Of course, being out of town on business all the time can make it impossible to mail the rent. What about mailing it early? What about automatic withdrawal? These things would solve the problem and would be used if the tenant was sincere.


13. The Old "Please Don’t Call or Tell my Wife I’m Late with the Rent" Trick:

An attempt to get the landlord in on the conspiracy to save the marriage of the tenant. A big load of BULL.


14. The Old "You’re a great guy" Trick:

Another big load of BULL. Sometimes the tenant will give you small gifts to demonstrate his goodwill while he bilks you for months worth of rent. The idea is to make you feel good while you get screwed. I had a tenant who delivered a pizza to my house. (We didn’t eat it. I was afraid it might be poisoned because I was evicting him.)

John Nuzzolese
The Landlord Protection Agency
http://www.thelpa.com

With our new launch of Urban City Rentals "Property Alert" service - prospective tenants can sign up to receive immediate notification of any new listings!

So, what does this mean to our investment rental property owner clients?  Well, it means that we have a pre-qualified waiting list of potential tenants ready to rent your property!  By choosing Urban City Rentals to manage your investment rental property, we can leverage our database of tenant prospects so you can start collecting rental income as soon as possible. 

Subscribers to our Property Alert are excellent candidates for your property and have been screened and filtered to ensure that your investment is protected through quality tenant placement.

For more details on our rental property management and tenant placement services, please contact Urban City Rentals at 604-677-7369 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it today!

Empowering our Owner clients with Real-Time Access to Their Investment Properties Performance:

By leveraging Urban City Rentals Owner Portals, owners have controlled, real-time access to their rental property portfolio information. This information is presented in a professional manner that rivals online banking with powerful features such as:

•     Update contact information
•     Real-Time threaded conversations with property managers with email alerts
•     View and approve work orders
•     View bills and attached invoices
•     Access owner statements
•     Run real-time reports
•     Access shared documents

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Give Tenants Online Access to Account Info

Tenant are already accustomed to managing many of their accounts online, checking balances and making online payments. Why shouldn’t they get these same benefits from their landlord?

Urban City Rentals offers all our tenants the ultimate amenity that differentiates our service from the competition and streamlines communications. With Urban City Rentals Tenant Portal, tenants can log into a secure website and access their account information, wherever or whenever they want, including:

•     Update contact information
•     Real-Time threaded conversations with property managers with email alerts
•     View tenant ledger
•     Give notice to vacate
•     Submit service requests and check their status
•     Access shared lease and properties documents

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Accept Service Requests Online and Manage All Aspects of Work Orders

Industry experts all agree that the quality of customer service offered to tenants is one of the top three reasons why they choose to either renew their lease or vacate a unit. Just consider the high cost for replacing a tenant (i.e. turning the unit, listing the vacancy online, showing the unit, screening the prospect, etc.). Can you afford to offer poor customer service?
Urban City Rentals Tenant Portal allow tenants to submit service requests online and check their status. The calls into the management office will quickly disappear and lease renewals will skyrocket! Our Tenant Portal allows you to manage the entire work order process:

•     Submit service requests with photos and descriptions
•     Grant management staff access to their unit
•     Check the status of service requests
•     Communicate online with management staff with threaded conversations
•     Receive real-time updates via email on work order status

Work Order Management

•     Track all tenant service requests and work order
•     Track work order related tasks
•     Upload and share documents attached to work orders with tenants, owners and vendors
•     Track your work crews time
•     Create custom views, reports and dashboards of work order data

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Share Documents With Owners and Tenants

Did you know that the average property manager uses 10,000 pages a year? This is not only costly for your business, but it hurts our environment. Property managers waste countless hours each month searching for documents in file folders and sharing them with customers. These inefficiencies result in less time spent trying to fill vacant units and acquiring new customers.
Go Green with Urban City Rentals and eliminate many of the documents you print each month by sharing them online. Each document can be emailed to customers or shared in their Owner or Tenant Portals with just a few clicks.

•     Create mail merge documents
•     Email or share any document in your Owner or Tenant Portals
•     Powerful search engine to find your documents
•     Mark documents as Private to avoid sharing with others
•     The same document can be shared between Tenant and Owner Portals
•     Create custom reports to track documents created or deleted

 

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Powerful Collaboration Tools Increase Accountability

In today’s information age, there are many ways for customers to communicate with your business. Inevitably, important communications fall through the cracks, resulting in frustrated tenants and owners.  Urban City Rentals Owner and Tenant Portals give our customers one centralized location to communicate with our management team by simply starting an online conversation. Each time a new comment gets added to the conversation, the customer and our management team will be instantly notified by email. Best of all, conversations are stored on leases and work orders, while also available for reporting purposes.

 

To find out more about Urban City Rentals rental property management and tenant placement services, click here.