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Happy Thanksgiving Canada!

10-09-09
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
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  • Office: (888) 780-5940 x251
This long weekend in Canada is Thanksgiving. We are hard pressed to find a whole bird here in Japan and even if I did I don't know where I'd cook it.

When we do cook Thanksgiving dinners are legendary at my house. Todd is a FANTASTIC chef and always puts out delicious meals that leave everybody wanting more. There never are any leftovers...

In the expat community there are a lot of people alone for many holidays so it's nice when we have impromptu parties with people of all nationalities bringing a dish. I guess it's a true rendition of the original Thanksgiving of sharing.

We have so much to be thankful for; even the bad things that happen teach you to be thankful. When bills come due and tenants leave or rates go up and rents go down everything is a learning experience. Every hurdle you clear brings you that much closer to your goal.

Todd, Ronan and I are really grateful for our excellent team, our mentors, our friends and family and most importantly our partners. We're looking forward to seeing you soon!

Ode to Thanksgiving

May your stuffing be tasty
May your turkey plump,
May your potatoes and gravy
Have nary a lump.
May your yams be delicious
And your pies take the prize,
And may your Thanksgiving dinner
Stay off your thighs!

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The Frugal Landlord - 3 Ways to find tenants cheaply.

10-06-09
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
  • view my blog
  • Office: (888) 780-5940 x251
I went to my local book exchange library today. After living in Japan for 10 years I've pretty much read all the English books at all three of my city's libraries.

The book exchange often has some reading gold that you can borrow and keep for free. I've gotten tons of business books, travel books, biographies and novels there.

Today I was pleased to find The Frugal Gourmet cook book. When I was a kid I remember watching the show and him always taking a sip of wine and well that's about all I remember. I guess it didn't make THAT much of an impression on me but I thought the book might help me overcome my sometimes unambitious cooking.

Then I got to thinking about land-lording and how you could use the Frugal Gourmet premise when finding tenants. So here it is 3 ways to get champagne tenants on beer advertising budget.

1. Place your ads wisely - Newspaper and online advertising have become cheaper over the past few years but how about spending no money at all? It's old school but placing ads with the little phone number tags attached to the bottom is a fantastic way to get tenants that are looking in a specific neighbourhood. Places like laundromats, supermarkets, schools and community centers may have bulletin boards where you can post for free. Effective? Yes. Cheap? Very!

2. For rent signs- They are cheap, highly visible to foot and drive by traffic and they let people know instantly that this property is up for grabs. Not to mention you can put them up the minute the tenant gives notice. In fact you can keep it in the property and ask the tenant nicely to do it themselves! Save gas too....

3. Referrals - You've probably got some good tenants who respect your property like it's their home. They are a goldmine of untapped potential tenant networks.
Offer all your great tenants the chance to introduce their friends to your family of rentals and offer say, dinner for two or a movie, they would be more than happy to help you fill your vacancies. You maybe saying well dinner isn't cheap but it's a lot cheaper than a vacant property with mortgage payments.
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Hey nice yard! 5 Tips to not get burned by contractors

10-02-09
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
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  • Office: (888) 780-5940 x251







Is not what people are going to be saying when they go by our property that just had sod laid. A local Edmonton landscaping company came laid some dead sod, left sod pallets blocking the access to the garage and a pile of junk on the property.

Yes, we paid them for this.

In advance.

And that was our mistake.

How do YOU avoid this mistake?

1. Don't pay any company the full amount until a satisfactory job has been done - give them half or even a partial payment. If they insist on getting paid upfront you should start to wonder about your recourse if things don't end up as planned.

2. Get a reference list of clients and call a couple- Why not. It may take about 1 hour of your time and even if they all give raving reviews people will always tell you their opinion. If a company is reluctant to give references start to ask yourself why. Trust me one hour on the phone is much cheaper than the time and cost to you to rectify shoddy work.

3. Closely monitor the job until done - Drive by every day. That pile of pallets didn't just appear they left them over the time they were working there. You can watch the work progress and make sure all scrap is removed. At any rate you can get to know the people who are working for you for future jobs.

4. Ask around - You'd be surprised how many people will tell you their good and bad experiences. Many people have had contract work done and are willing to "show and tell". People who are satisfied will say so and those that aren't will really say so.

5. Let the world know - Companies like this keep operating because clients are unaware of their bad history. The internet age means most people surf online to find companies locally. When your review comes up or filed complaint you will be saving someone, somewhere some money and some time.

Ripoff Report,
The BBB,
The Complaints Board
3 Comments
Blog_tag

Come on Edmonton - "Suite-n" up the deal!

10-01-09
Todd & Danielle Millar
Todd & Danielle Millar: Real Estate - Other in Edmonton, AB
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  • Office: (888) 780-5940 x251

I own several properties and currently provide some affordable housing. I'd like the opportunity to provide more affordable housing by suiting some of my properties.

I tried to apply for a grant to put a suite into a property of mine but was summarily rejected because I am not an owner-occupant.

Why? Why? Why?

Our friend Tim summed it up nicely. People don't want their neighborhoods getting messed up with a bunch of rental properties with suites. Really who can more effectively manage suites a landlord with experience or a home-owner who will give it a shot and then learn the hard way about tenant issues?

Chances are the investor/landlord with 10-20-30-40 homes has more skill in operating a rental that an owner-occupier. This also paves the way for better communication and less disputes between lower income tenants and owners.

The grant should be expanded to allow owners who don't reside in the prospective houses a chance to "suite"up. We can avoid tent-city as a greater amount of affordable housing will be created.

A primary owner-occupant is limited to only one home to work with whereas an landlord who owns multiple property, has the ability to reach more people by providing more suites.

Am I seriously being punished for providing housing?

If I spend my own money to put in a suite and the risks associated with it, I should be fairly compensated for that risk. That may equate to a 1 bedroom being rented for $875 at market rent.

If I were to go the route of the grant I could reduce my costs and risk, and provide housing at a reduced rent - the same suite could be rented for $721 per month, thus filling the need for affordable housing.

I own many properties that qualify for the grant, image the impact I'd have on the community compared to one owner-occupier.
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Sherwood Park Real Estate Sales For The Week Ending 09/28/09:

09-28-09
Jason Beattie
Jason Beattie: Real Estate Agent in Sherwood Park, AB
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  • Office: (780) 439-9818
  • Mobile: (780) 239-3902

Sherwood Park Condos

There were 6 condo sales with 60 condos on the market in Sherwood Park, Alberta last week.

The least expensive condo that is currently listed for sale (1 Bedroom / 1 Bath / 602 square foot in Summerwood) is listed for $173,900 and the most expensive condo (1+2 Bedroom / 2 Bath / 1,417 square foot in The Ridge) is Listed for $529,900.

The least expensive condo that sold last week in Sherwood Park (2 Bedroom / 2 Bath / 899 square foot in Summerwood) was listed for $220,000 and the most expensive condo that sold last week in Sherwood Park (2 Bedroom / 4 Bath / 1,850 square foot in Woodbridge Farms) was listed for $409,900.

This means that there were a total of 60 condo listings and 6 condo sales in Sherwood Park, Alberta last week for a absorption rate of 10 weeks. This means that if not another home comes on market (which isn't very likely) in Sherwood Park there is more than a 2 month supply of condos on the market.

Please "click here" to see the additional details about this weeks Sherwood Park condo sales

Sherwood Park Homes

There were 20 home sales with 182 homes on the market in Sherwood Park, Alberta last week.

The least expensive home that is currently listed for sale in Sherwood Park (0+3 Bedroom / 2 Bath / 678 square foot in Broadmoor) is listed for $234,900 and the most expensive home in Sherwood Park (4+1 Bedroom / 6 Bath / 1,065 square foot in Estates of Sherwood Park) is Listed for $1,250,000.

The least expensive home that sold in Sherwood Park last week (3+1 Bedroom / 2 Bath / 1,950 square foot in Maplewood) was listed for $319,900 and the most expensive home that sold in Sherwood Park last week (3 Bedroom / 3 Bath / 1,950 square foot in Heritage Hills) was listed for $649,900.

This means that there were a total of 182 listings and 20 single family home sales in Sherwood Park, Alberta last week for a absorption rate of +9 weeks. This means that if not another home comes on market (which isn't very likely) there is over a 2 months supply of homes on the market.

Please "click here" to see the additional details about this weeks Sherwood Park single family home sales

To receive a REAL TIME MARKET REPORT for properties in Sherwood Park visit

www.SherwoodParkPropertyValues.com.

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