Moncton Landlord Association

01/02/2024

Towards the end of last year, the City of Moncton announced a $10K grant to help spur some new rental units in the city.

The idea is for single-family homeowners to add an additional unit to their property. From a garden house to finishing a basement suite.

My 2 companies Ground Floor Property Management and CORE Property Services are ready and able to help people through this process if you're looking to take advantage of this opportunity.

From helping with project qualifications to permits, building the unit, and then with management.

If you want to know more - send me a message and let's chat!

03/24/2021

MONCTON - RENTAL PROPERTY INVESTORS/OWNERS
As you are no doubt aware our government is in the process of reviewing our Rental Regulations in the province. In fact, we are under a 3-month review right this moment!

The market is undergoing some major shifts and some issues are surfacing. Our vacancy rates are very low and the city is growing.
That is leading to housing issues and especially lower-income housing.

The Province is holding an event on March 30th to discuss the situation and to hear from others.

This will be a great opportunity to have your voice heard.

We DO NOT want RENT CONTROLS in our province. With the double taxation issue still unsolved, we just cannot allow ourselves to get boxed into yet another bad government decision.

Should rent controls be brought in, we MUST be part of that discussion.

PLEASE, PLEASE register if this applies to you and SHARE it with other landlords/property managers in town.

03/30/2020

To all landlords,

If you are working with tenants that are predicting having issues with their rents, this will be of value to them if they qualify.

Stay safe out there!

New Brunswick Workers Emergency Income Benefit

12/06/2017

!!!! PLEASE READ !!!!
Good morning Moncton Landlords.

As some of you may be aware, 2018 is going to be an election year. With every election year, landlords in Moncton gather to try and fight the 'double taxation' for our rental properties.

This year, we have some very ambitious plans to roll out a full-blown marketing campaign aimed at our tenants.

The goal is to educate the tenants on this issue and to have them join in on our fight.

Attached is a letter from W***y Scholten asking for help from each and every owner in the province. We need help to raise funds in order to hire the marketing company that will lead this campaign.

This is our chance to get this issue front and center for all parties to see and hear.

Your help and contributions are appreciated.

03/28/2016

Deadline is coming up quick!

Learn the latest in commercial real estate news in Canada with up to date articles, tweets and archived articles here! Give us a call today 416-641-9500

02/10/2016

If there are any landlords out there willing to rent to the new refugees in Moncton, please let us know. There is a demand for 3 bedroom units.

01/27/2016

What happens when an owner no longer cares ....

Owning a rental property comes with responsibilities.

This is a building that has been empty for 3 years! Fires, floods .. you name it. Nothing done by the owner....

We all need to uphold ourselves to higher levels of responsibility. This should not happen.

01/27/2016

Well, we all remember last winter as being one of the worst winters in recent memory with 506cm of snow..!!

However, lets look at the numbers as of today compared to this exact time last year...

Last season.... From November 1, 2014 to January 26, 2015 - we had 129cm of snow.

This season.... From November 1, 2015 to January 26, 2016 - we had 140cm of snow. Yes... we have already had 11cm more than this time last year!!

In addition to this, just look at the months of December in comparison....

December, 2014 - 11cm of snow.

December, 2015 - 96cm of snow...!!

The majority of this seasons 140cm's has come in several smaller storms - 5, 10, 15 and a couple 20+cm storms. We have also had several days of temperatures reaching +9, +10 degrees and then immediately followed with -19, -21 degrees of frigid cold.

This results in melting and then freezing, more snow and then melting and freezing... this may give a perception that we have not had much snow so far this winter, however, as the facts show, we have already received more snow than this time last year and may get nailed with another 350+cm like we did starting this time a year ago.

We will have to wait and see.

My advice... don't go around saying that winter is over at this point... it may have just begun!!

01/26/2016

Interesting story to share with everyone.

We recently took over a large portfolio of properties from another local manager in Charlottetown. In PEI, damage deposits don't work like they do here in NB.

In PEI, they have IRAC. IRAC handles disputes between tenants and landlords. Much like it is here.

The big difference is that the money i.e the damage deposits are kept with the landlord and interest is paid to tenants over time.

Long story short, this manager that we took over for has not given us the 36 damage deposits that he was holding ..... We think the money is gone!

I called IRAC to get some help and they advised that they could not help, it was not within their jurisdiction.

Thats close to $30K in damage deposits!!!

We all need to be grateful for our Rentalsman system. Its not always perfect but we would at least get some help in cases like this.

01/21/2016

For those of you who did not know, Moncton has a Real Estate Investment Club called Moncton REIO.

Its a great way to connect with other investors and learn a few things at the same time.

Contact Sean Power for more details.

Future meeting dates:
February 8th
March 14th
April 11th (all at 7 PM, Sobeys Vaughan Harvey, Community Room)

01/12/2016

HOW-TO put your rental business on auto pilot

Automation, sounds great doesn't it? How does it apply to my business? Here are 3 of the ways that we use automation in our PM business.

1. Emails and communication

Communication is probably the most important aspect of being a property manager and/or landlord. This is especially important when renting out your property, you want to get back to people quickly!

One way to accomplish this is to us autoresponders for your rental ads. An example of this would be to have an autoresponder send your prospect a nice email with more details about your property.

If you want to step up your game, send them a video!

2. Advertising Syndication

Advertising syndication is when you have a service that can share your rental ad with multiple rental websites, thus saving you the time and headache of having to post it in multiple sites.

For example, if post my ad in software XYZ and software XYZ then shares this ad with Kijiji, Craigs List, Zillow, Rentpad ....

3. Letters and Notices

Sending out letters and notices is something that rental owners and property managers do regularly so why not automate it?

This typically starts with you using 'real' property management software. Most programs out there today will have this feature built in.

An example is when dealing with late rents. I can have my software automatically send a tenant a notice after 3rd of the month.

Automation can be a beautiful thing but it must be managed. In our business, most of these tools that help us with automation will cost money. The benefits however typically outweigh the costs.

Automation can be a beautiful thing but it must be managed. In our business, most of these tools that help us with automation will cost money. The benefits however typically outweigh the costs.

I would love to hear how others use automation in their PM businesses?

01/11/2016

Having been a real estate investor for over 15 years now and having worked with hundreds of other investors, ONE thing that I can share with you.

CASH FLOW WILL NOT MAKE YOU RICH

The magazines and people all around talk about cash flow like it flows like water and its EASY to achieve. The reality is that most properties DON’T cash flow for 5-10 years.

Don't get me wrong, who doesn't like cash flow! Its the expectations that are often misguided.

I once read a great quote.

Real Estate investing is like a 3 course meal:

1. You start with an appetizer -> your cash flow
2. Your main course -> mortgage pay-down
3. Then desert -> property appreciation and rental upside

Yes, you always want to buy a property that shows cash flow while evaluating the numbers however you need to be realistic when you buy the property. If you've done a good job at buying something does that does cash flow, most of the cash flow gets reinvested in the property.

To maximize cash flow, you have to put larger deposits. If your only putting the minimum of 20% down, achieving cash flow is difficult. A couple vacancies and some repairs will erode that cash flow in a heart beat.

Real Estate Investing is NOT a get rich quick scheme... Its a for sure way to get rich over the long term!

Happy investing!