Frequently Asked Questions About Property Management
Who are we?
We have been successfully managing properties in Calgary since 1980. We represent you, the property owner, and take care of every detail on your behalf. We professionally manage more than 600 homes and condominium units and guarantee our owners peace of mind.
What are our fees?
These are our base fees:
- Initial lease: $775 + GST
- Monthly fee: 12% + GST
- Lease renewal: $237.50 + GST
Additional charges may apply for non-resident taxes or out of town properties. Ask our agents for more details.
How do we screen tenants?
You want responsible, respectful tenants in your home and so do we. Our tenants come from a broad range of backgrounds. Some are new to Calgary, some are former home owners themselves and some are lifetime tenants. No matter who they are, all prospective tenants undergo the same rigorous screening process and are held to the same high standards.
We have a three-step, three-person screening process in which we check:
- Employment and income verification (income must be three times the rental amount)
- Previous tenancy verification and references
- Credit report
How are repairs and maintenance handled?
We offer a dedicated maintenance department. We encourage timely communication between tenants and maintenance with a 24-hour emergency repair hotline. Our lease agreements contain a repair and maintenance schedule to ensure all parties are clearly aware of their obligations.
Repairs under $500 are done automatically, but will always keep you apprised of work and provide copies of all repair invoices. We handle improvements and renovations, too.
How much can I rent my house/condo for?
It is our job to ensure that you get maximum dollar for your property. We watch the market place very closely.
- Homes average $1.00 per square foot (above grade) to $1.50 per square foot for luxury homes or superior location (inner-city, lake front etc.
- Condominiums average from $1.25 to $2.00 per square foot.
While these are guidelines, one of our licensed Realtors can provide a more definitive estimate of rent upon viewing your property.
How long does it take to get my house rented?
Depending on the economic climate in Calgary, most homes will rent in approximately six weeks if they are priced properly and are in good condition. By ensuring your home is well priced and advertised, it should not sit empty for long.
Do I need special insurance to rent out my house?
If you have a home owner’s policy, it is not suitable for a rental property. We can offer you a group policy which includes:
- Unlimited vacancy
- Rental income
- Tenant Vandalism
- $4 million umbrella liability
Our Realtors or our insurance broker can answer your questions and provide a free estimate for these services.
I don’t live in Calgary – can you help me?
We are non-resident specialists. Every aspect of managing your property can be done through email or on the phone including monthly disbursements of rental proceeds. Rest assured that your property will be monitored and well taken care of.
We will also provide all necessary tax documentation for you as a non-resident and have professional staff that will ensure compliance with Canada Revenue Agency.
Do you have references?
“My wife and I wish to thank everybody for 8 years of excellent services. Looking back over the years, we had no problems whatsoever. You told us you would look after our home as if it were your own. Thank you for standing by your words.” ~ D. Lawman
“We leased out our house three times with Power Properties between 1989 and 2010 while living in rental properties in Malaysia and Australia, as well as leasing out other properties of our own in the U.K. and Nova Scotia. So, we have quite a wide experience of what a top notch company like Power Properties does for the client compared to how the poorer companies perform.” ~ Bill R.
“I wanted my properties to be an armchair investment and Power Properties has provided this for me. I am extremely satisfied and will recommend them to others.” ~ J. Berglund