1. No category

FALL 2014
4653 Macleod Trail S.W., Calgary, Alberta T2G 0A6
Tel: (403) 265-6055 • Fax: (403) 265-9696 • www.crra.ca
VACANCIES? EMPTY UNITS?
Do You Want To Fill Them Now And In The Future?
Not only can we help you fill your empty suites now, but we can provide you with an on-going supply of
tenants. This will help you plan for the future, especially when the market changes and vacancies increase and
the demand for rental units decreases.
Did you see the CMHC Spring Rental Market Report? If you did, you know that vacancies increased from the
spring of 2013 (1.2%) and they jumped quite significantly from last fall (1%). Yes, the spring vacancy report
indicated that our vacancy rate had spiked to 1.4%.
Many of our members tell me that they are no longer getting the same high response to their rental vacancies
that they did a year ago.
As we have said on numerous occasions – the low vacancies caused by high demand and low supply won’t
last. Members need to understand that the residential rental market is cyclical, meaning at some point it
favours the landlord and at others it favours the tenant. For the moment it favours the landlord. But this will
change at some point. It always has. Be Prepared!
You have a chance to plan ahead and prepare for the inevitable, so you don’t get caught short.
You have a chance to tap into a market that will give you access to a steady stream of tenants that will be there
even when the market changes. You still approve who you rent to.
All you have to do is Register for the ‘MY HOME ’ Program. Look at Your Benefits!
• Paid Rent assurances
• Security deposits paid
• Damage coverage beyond the security deposit
• Client support for tenants and landlords
• Reduced advertising costs
• Guaranteed tenants, now and in the future when the markets changes and vacancies increase,
which WILL happen. Remember, the market you enjoy today, won’t last forever.
• And there’s an added bonus. You WILL enjoy the feeling and satisfaction that only comes from
knowing that you were able to help someone.
You don’t get these benefits or guarantees when you go to the open market. You do your due diligence, take
your chances and hope for the best.
(Continued on Page 11)
President’s
Message
David McIlveen
The summer weather is almost over and I trust all our
members were able to find some rest and relaxation after
a particularly long ‘spring’ that many thought felt like a
sentence to time in Siberia. But spring finally came with
no major floods in the city, unless you count the relentless
stream of new comers.
Our fantastic summer got kicked off by our annual awards
banquet, which highlighted for me some of the many
reasons I am particularly proud of our Association and our
members.
The awards were held on Thursday, June 5 at the Carriage
House Inn. I had the honour of presenting awards and I saw
them as emphasizing the many ways we serve our city. Such
as, our members maintain and renovate older buildings to
make them great places to live, we beautify the landscape
and help renew neighborhoods, we give thousands of
people extra service to help them when they are in need. At a time when:
• our provincial economy is set to lead the country once
again at 3.5 percent growth
• well paying jobs are plentiful • in-migration of over 100,000 new people per year in
Alberta has continued to buoy our industry with many
new renters
• housing policy is making headlines and bureaucrats and
politicians wax on about what should be done and could
be done or must be done
Our members quietly go about their business and provide
the highest quality most affordable housing in the city. We
do it every day and we do it fairly and professionally.
Keep up the good work.
Table of Contents
President’s Message............................................2
Executive Director’s Report.................................3
Residential Tenancies in Alberta.........................5
Elevator Modernization........................................7
CRRA 2015 Schedule of Events..........................7
Member / Volunteer in Profile..............................9
2014 Golf Tournament................................. 12-13
Is Real Estate investing Right for You?.............15
Welcome New Members....................................17
2
Calgary Residential Rental Association - Fall 2014
Executive
Director’s Report
Gerry Baxter
Summer is behind us and we are now into fall. This has been
an incredibly fast year. We only have a few events left before
year end and I hope many of you will join us as we wrap
up the year. We have enjoyed some terrific seminars and
luncheons and they will continue in the coming months.
Golf Tournament
In spite of the snow and the re-scheduling of this year’s
golf tournament at River’s Edge Golf Course on September
26th, our golfers had a good time. Everyone had a lot of fun
and shared a lot of laughs. We are already looking ahead to
next year. September generally works very well for us. The
weather is generally more stable and we are not competing
with the large plethora of golf tournaments in June. It was
for this reason that many of our members asked us to
change the date of our golf tournament. Check out the Golf
tournament story with sponsors and pictures in this issue of
the newsletter.
Next Year’s Events
We are already working on next year’s events. Planning has
begun for our seminars and luncheons, trade show, awards
gala and golf tournament.
See all of our Seminar, Luncheon Event and Course dates for
2015 included in this issue. Check them out and mark your
calendars.
The next major event is our annual Trade Show. The show
will be held on Tuesday, March 10, 2015 at the Coast Plaza
Hotel. We will start with a breakfast at 8:30 a.m. before the
doors open at 10:00 a.m. We will have a keynote speaker
at the breakfast, as well at the luncheon. Details will be
available once we have everything finalized. Plan to join us
this day.
For our Service Members here is a golden opportunity
for you as your customers come to you. For our owners
and property managers come and check out each of the
companies who will be exhibiting that day. Check out the
new companies and see what services and products all of
our exhibitors can offer to help you with your business.
2015 Membership Renewal and Benefits
membership when you receive the notice. I am very pleased
to say that the membership fees will remain unchanged for
next year.
Being a member of the Association gives you the ability to
access the many benefits that are offered. Our Education
Committee works hard throughout the year to ensure
that members are provided with tremendous educational
opportunities. The topics at the seminars and luncheons are
extremely relevant to our industry and your business. The
presenters all bring a wealth of knowledge and information
which they willingly share.
Don’t forget the Association’s Exclusive Rewards Program. It
offers a large variety of discounts on products and services
from many of our service member companies. Depending
on what you are looking for, the Program allows you to
save money and reduce costs. All you have to do is call the
company contact to take advantage of what they have to
offer. Go to the CRRA website www.crra.ca to begin taking
advantage of the discounts.
The 1-10 unit category continues to be our fastest growing
area of membership. One of the major membership benefits
to our owner members is the ability to do credit checks at a
very reasonable price. This is a critical part of the landlord’s
due diligence, making sure that your tenants have a history
of paying their bills.
We provide detailed, legislation compliant. We have the
forms and notices that landlords use in their business. They
are professionally developed documents and they will stand
up in court.
The Residential Tenancies Course continues to be extremely
popular with members. This two day course covers the
legislation and best practices.
One of the most important benefits of membership is being
able to pick up the phone and call the office when you have a
question about the legislation, or when you are experiencing
a problem with a tenant. We can assist you and provide you
with the information you are looking for.
The Association also represents the interests of its members
with the Provincial Government, City of Calgary, the Media
and the public.
Don’t forget, send in your membership renewal as soon as
you receive it!
We will be sending out 2015 Membership Renewal
notices very shortly. I really encourage you to renew your
Calgary Residential Rental Association - Fall 2014
3
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Calgary Residential Rental Association - Fall 2014
RESIDENTIAL TENANCIES IN ALBERTA: A COURSE THAT HELPS ALL LANDLORDS
This two-day course has been specifically designed for landlords. Well over 700 people have taken this course since it was
introduced a few years ago.
The objective is to provide landlords with an in-depth understanding of the legislation that governs the residential rental
industry and the best practices to adopt in their business when applying rules, thereby reducing the potential for problems
in a tenancy.
This course is targeted at owners, property managers, their resident managers and other site staff of residential rental
property who must be familiar with the legislation and its application. It also provides excellent information for real
estate professionals who assist with the sale and purchase of residential rental property.
The course has four core values:
•P
romote business professionalism
•P
romote knowledge of best practices
• Improve knowledge of Residential Tenancies Act
• Improve knowledge of Landlord Rights and Responsibilities
It is formatted into five organized and logically flowing components:
•G
etting into the Business of being a Landlord
•B
efore the Tenancy
•D
uring the Tenancy
•M
anaging Tenancy Problems
• E nding the Tenancy
"Anyone involved
in the rental business
should take this course"
Two very detailed books are provided to students who attend the course, along with some excellent handout materials.
We also provide a copy of the Residential Tenancies Act and the Residential Tenancies Ministerial Regulations (the laws
that govern the industry and your business).
Each book contains a variety of documents and forms that are discussed during the course. The books follow the
five components mentioned previously and they contain excellent information allowing the student to increase their
knowledge significantly. Students refer to their books a number of times during the course.
The instructor guide and PowerPoint presentation take students through the legislation and answers the questions that
are most often asked by people who aren’t familiar with the legislation or how to apply it. The course also discusses best
practices that can be used in conjunction with the legislation to reduce the potential for problems during the course of a
tenancy.
The course is currently offered five times a year, usually on consecutive Fridays, as this seems to work well for most
people.
Class size is limited in order to maximize the learning experience and certificates are provided at the conclusion of the
course.
Registration forms are sent out to all members in advance of each course. We also post the forms on our website
(www.crra.ca ). You must pre-register and pre-pay.
Here’s some of the comments that were made by members who have taken this course.
"Wonderful, informative course"
"Excellent course! Should actually be made
mandatory to anyone becoming a landlord. We are new
to being landlords & inherited the tenant, but wish
we had taken this course prior to owning the houses"
"I have taken this course a 2nd time and am
glad I did. Refresher course was worth it.
The information provided was very easy to read"
Calgary Residential Rental Association - Fall 2014
"As a brand new resident manager I found the
course very valuable (a must)"
"Our membership has been some of the best money
we have ever spent! We love the CRRA and will continue
to advocate for other landlords to become members.
Thank you for all your hard work"
"Great course, very informative"
5
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Calgary Residential Rental Association - Fall 2014
Landlord’s
Right
to
Enter
Elevator
Modernization
Property
In the case of a detector in an elevator lobby (other than the
main floor) the elevator automatically homes to the main
floor. If the smoke is detected on the main floor (elevator
lobby only) then the elevator is sent to an alternate floor
(usually the 2nd or Basement level).
Randy Johannson
Brown of Fahrenheit 451
ByBy
Rochelle
Detectors are also installed in the elevator machine room and
the top of the elevator shaft. Signals from these devices will
send the elevator in to a different type of homing mode. If
the elevator machine room is located on the main floor, then
there may be the need for another different signal.
Elevator Upgrades
Don’t forget about your fire alarm system when you are
upgrading your elevators. The new elevator code requires
signals from the fire alarm system in a very specific way.
In most cases you will need to upgrade your fire alarm system
as well.
On other alarms such as somebody activating a pull station or
a sprinkler goes off, no signals are to be sent to the elevator
equipment. This leaves them functioning to assist in the
overall evacuation of the building.
Old Codes & Elevator Homing
In the old days we could just capture the elevator on any fire
alarm and bring it down to the main floor.
As you can imagine, this level of complexity is almost
impossible to achieve with a conventional fire alarm system.
With an addressable fire alarm system the project is relatively
simple. The different signals are sent through simple
programming.
This prevented people from using the elevators in a fire
alarm situation. There have been many documented cases of
people taking the elevator to the fire floor. A woman died in
Calgary not so many years ago when she took the elevator to
the main floor where the fire was raging.
If you would like to see a “sample Elevator Specification” as
written by Garry Bambrough of Bambrough & Associates
Elevator Consultants you can check it out at
Then the code got more complicated so that if the alarm
came from the main floor we had to send the elevator to an
alternate floor. Plus they wanted another set of signals if the
alarm came from the elevator shaft or hoistway.
http://www.f451.ca/wp-content/uploads/2011/07/
FireAlarm_and_Elevator_Upgrades.pdf
New Codes & Elevator Homing
Randy Brown is a fire and security expert with Fahrenheit 451
Fire & Security. The company has completed many fire alarm
upgrades and has worked with most elevator contractors in
Calgary. If you have any questions about fire safety, building
security, or if your Calgary building is attracting the wrong
kind of attention, please do not hesitate to contact Fahrenheit
451 at 403-256-6622 for more information and assistance.
Recently there has been a change in thinking that elevators
may in fact help evacuate buildings faster than people using
the stairs. They only want the elevators taken out of service if
the fire is in fact around the elevator itself.
In order to accomplish that, things have gotten way more
complicated. Now the signals come from the detectors in the
elevator lobbies only.
Calgary Residential Rental Association 2015 Schedule
Seminars – Luncheons – Special Events - Courses
Month
Seminars and Luncheons
Special Events
Courses
January
15
-
-
February
19 - Combined Luncheon
& Annual General Meeting
-
6 & 20 - Residential Tenancies in Alberta
March
-
10 - Trade Show
-
April
16
-
10 & 17 - Residential Tenancies in Alberta
May
21
-
-
June
11
4 - Awards Gala
5 & 12 - Residential Tenancies in Alberta
September
17
9 - Golf Tournament
River’s Edge Golf Course
11 & 18 - Residential Tenancies in Alberta
TBA - Successful Site Management (ARM)
October
15
-
-
November
19
-
13 & 20 - Residential Tenancies in Alberta
December
Coast Plaza Hotel
Carriage House Inn
Merry Christmas and Happy New Year
Calgary Residential Rental Association - Fall 2014
7
Civil Enforcement Regulation - Review
The Province of Alberta’s Ministry of Justice and Solicitor General
is in the process of reviewing the Civil Enforcement Regulation. As
part of the review process the Ministry is undertaking a consultation
with the public and direct stakeholders. A Discussion Paper has
been prepared and is aimed at providing information with respect
to the review of the Civil Enforcement Regulation. The Discussion
Paper invites the public and stakeholders to provide comments and
suggestions for change to the civil enforcement procedure.
Many of our members have engaged civil enforcement agencies
and bailiffs to assist them with landlord and tenant matters. This
consultation process is an opportunity for you to provide feedback
to the Ministry.
Submit your feedback by e-mail of fax by October 15, 2014 to:
Dwayne C. Weatherall
Sheriff – Civil Enforcement
Justice Services Division
Justice and Solicitor General
Edmonton, AB
e-mail: [email protected]
fax:
780-422-3011
If you have any questions, Dwayne can be contacted by
phone at 780-427-4270
A copy of the Discussion Paper was emailed to members in late
August.
We have also posted a copy of the Discussion Paper on our website
www.crra.ca. Just click on the link on the homepage.
2015 TRADE SHOW
Service Member Directory
has MOVED!
After years of appearing in the last several
pages of the Rental Review newsletter, a
decision was made to move the Service
Member Directory to the CRRA website.
The move makes it easier for you to quickly
search and locate service member companies
or to search industry categories and quickly
find a company that you are looking for.
I encourage you to check it out.
March 10, 2015
Breakfast: 8:30 am
Lunch: 11:45 am
 Guest Speakers 
 Seminars 
 Prize Draws 
 Exhibitors 
 New Companies 
 Products and Services 
YOUR ONE STOP SHOP
Now available on our Website:
www.crra.ca
under the “Members” tab
8
Calgary Residential Rental Association - Fall 2014
MEMBER IN PROFILE: GEORGE TORBIAK
George was born in the town of Teulon,
which is located about 60 kilometers
north of Winnipeg, Manitoba. George
and his family later moved to Poplarfield,
which is a small town located about 150
kilometers north of Winnipeg. George
attended elementary school while the family was living here.
A number of years later the family moved again, this time to
Atikokan, Ontario, which is a town in the Rainy River District
of Northwestern Ontario. George completed part of his high
school education while he was living here and then he moved
to Winnipeg, where he finished his high school education while
attending Nelson McIntyre High School. After graduating from
high school, George went to the University of Manitoba. He
followed this by later enrolling at SAIT, in Calgary, where he
studied Power Engineering & Industrial Instrumentation.
George tells us the he was working for Shell Canada in Peace
River, but he found it was too cold for his liking. He then moved
to Calgary. He now lives in Lethbridge, where he has his own
company, Peerog Nebo Enterprises Ltd. He is now managing
75 suites in Lethbridge and he enjoys his work. Even though he
says, it’s not without its challenges sometimes.
George has a thirst for knowledge and continual personal
growth. He has been a member of the Association for close to
15 years. He says he likes being able to come to the monthly
meetings and having the opportunity to meet other property
managers and tradespeople. He frequently makes the long
drive from Lethbridge to Calgary so he can attend a morning
educational seminar and then stay for the lunch afterwards.
When the CRRA hosted a Residential Tenancies in Alberta
course in Lethbridge, George was one of the first to register. He
also makes a point of coming to Calgary to attend the annual
trade show, where not only does he see what’s new in the
service industry, but he has a chance to network with the many
friends he has made in the Association over the years.
George tells us that he has three children of whom he is very
proud. One is an Electrical Engineer (code writer), one is an
Agricultural Scientist, and one is a Computer Science Graduate
at the University of Alberta. He says that he is a really outdoor
sportsman, as he loves exploring the mountains, mountain
hiking, big game hunting, bird watching, camping, and
sometimes traveling the world.
The CRRA is very pleased to be able to count George Torbiak as
one of its members.
VOLUNTEER IN PROFILE: BONNIE ARNYEK
Bonnie was born in Winnipeg, Manitoba.
She says, “My dad was transferred around
a lot, so we moved often, thus providing
exciting opportunities to see many cities
in Canada”.
By the time she graduated high school,
Bonnie had attended 13 schools in all. She has continued her
education over the years. In 1999, she completed her Legal
Assistant Certificate program and in 2011 she completed the
1st portion of the Canadian Fire Alarm Association Certification
at S.A.I.T.
After graduation, Bonnie became a mom and worked in the
automotive industry for many years, taking time off to have two
more children.
In 1985 she moved from Orleans, Ontario to the Calgary area
with her late husband and three children for the medical
resources available for her husband. Following his death, she
continued her career in the automotive field in Calgary, which
she says opened many doors for her as a single parent. She was
one of the first female service advisors in the city of Calgary
and she moved her way up to become a service manager at a
smaller out of the city dealership.
She started working in the life safety industry as an inside
sales administration person for Chubb Edwards. When an
opportunity opened itself up for her to join the outside sales
team as a Life Safety Maintenance Solutions Provider, she
jumped on it. Recently, Bonnie joined the Vipond Inc. team
as a Life Safety Maintenance Solutions Provider and says she
is very passionate about life safety for all. She says she loves
her job because it allows her to help people provide the very
best life safety for everyone and to bring the awareness of its
importance to everyone.
Shortly after joining the Vipond team, Bonnie says she wanted
to join and become involved in an association where she could
feel like she was helping people and could share some of her
passion and knowledge. She joined the CRRA and tells us that
it’s a great fit. She says, “I have truly enjoyed my short time
being a part of the Education Committee and look forward
to many more years and experiences with this group of very
dynamic and giving people. Hats off to you all!!”
Bonnie lives in Airdrie with her fiancé. She has four children:
Vanessa 33, Michael 31, Aaron 30 and Mikayla 18. She is also a
proud grandmother to five grandchildren: 3 girls ages 10 yrs, 2
yrs and 18 months; and, 2 boys ages 5yrs and 3 yrs.
She later remarried and moved to the Didsbury area where
she became a stay at home Mom to care for her 4th child. She
started, owned and operated a rural community paper (like a
baby bargain finder). After four years of building the business
up, she sold it.
She enjoys traveling, being a passenger on motorcycle trips,
scrapbooking, hotrods and car shows and just hanging out with
family and friends.
Bonnie later divorced and moved back to the Calgary / Airdrie
area where she has resided ever since.
Bonnie has already made her presence felt in the Association
and we look forward to working with her.
Calgary Residential Rental Association - Fall 2014
She adds one more comment: “Thank you to everyone for
making me feel so very welcome into your group”.
9
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10 Calgary Residential Rental Association - Fall 2014
VACANCIES? EMPTY UNIT? Cover Story... continued from Page 1
You have the option of making one or more of your rental units to the Program. If you don’t have a unit(s)
available at this time, you can still Register today to be involved in the ‘MY HOME’ Program.
When one or more of your units are about to become available because your tenant(s) have given notice to
leave, you can make the unit(s) available to the ‘MY HOME’ Program.
Here is a list of the great agencies that are participating in the ‘MY HOME’ Program. You can choose one or
more of these agencies that you would like to work with. Each agency has a wait list of many deserving people
who are looking for a home.
• Alex - Homebase
• Alex - Pathways to Housing
• Alfa House
• Aspen Family and Community Network Society
• Calgary Drop In & Rehab Centre
• Calgary John Howard Society
• CUPS
• Discovery House
• Keys to Recovery
• The Mustard Seed
The Calgary Residential Rental Association and the Calgary Homeless Foundation have teamed up together to
streamline Registration in the ‘MY HOME’ Program.
All you have to do is:
1) Contact Marina Mellino, Project Coordinator for the Calgary Homeless Foundation at either (403)
718- 2925 or [email protected], and let her know you would like to get involved.
She will send you a blank ‘Letter of Agreement’ and a summary sheet listing all of the agencies participating
in the ‘MY HOME’ Program and a description of how they will work with landlords.
2) Review the information you receive from Marina, determine which social agency or agencies you would
like to work with (it can be as many as you like), then fill in and sign the ’Letter of Agreement’ (complete
one for each agency you wish to work with), and return it to Marina.
3) Marina will send the information on to the agency(s) of your choice and they will contact you.
Register today, even if you don’t have vacancies. Partner with the agency(s) of your choice and together
you and they can provide a home to an individual or family.
Don’t miss out on your opportunity to plan and prepare for the future.
Call Today to Register!
ANNUAL
GENERAL
MEETING
Thursday,
February 19, 2015
Blackfoot Inn
12:00 pm – 1:00 pm
Calgary Residential Rental Association - Fall 2014
AGENDA
1. Call to Order
2. Approval of the 2014 AGM Minutes
3. Treasurer’s Report
4. Recognition of the Retiring Directors
5. Election of Directors
6. Adjournment
11
21ST ANNUAL
GOLF TOURNAMENT
SEPTEMBER 26, 2014
Mother Nature delivered a whopper of a snow storm that
began on September 8th and ended on September 10th. More
than 28 cm of snow fell during that period. Of course
this forced the postponement and re-scheduling of the
Association’s 21st annual golf tournament. In spite of this
setback, the tournament was held at the River’s Edge Golf
Club on Friday, September 26th. While it was cloudy and
overcast at times, it was generally a bright sunny afternoon
for golf and when the enthusiastic and energetic golfers
arrived you could see they were ready for a fun day.
Swag Bags filled with great goodies donated by many of our
generous members were handed out by our volunteers to
each of our avid golfers when they registered.
Before moving out on the course, members were treated to
a terrific meal. Boardwalk Rental Communities sponsored
our pre-game lunch that consisted of a delicious hamburger
and beverage. It really hit the spot.
Serv It Bailiff Services Inc. sponsored the driving range this year
and many of our golfers took advantage of the opportunity to
hit some balls before they went out on the course.
Just before noon golfers got into their carts and then the
procession drove out to their respective starting location in
preparation for the 12:00 p.m. shotgun start. Then the action
and fun really began. The day was filled with laughter as
the golfers made their way around the course. Many of our
members are very good golfers. Others play just for fun, trying
to improve their game, while still others were first time golfers.
It didn’t matter where the ball went as it was the camaraderie
that mattered most. Everyone had a great time and really
enjoyed themselves.
Finally, the teams finished their round and headed for the
clubhouse where the fun and laughter continued and a terrific
meal awaited them. The National Bank of Canada sponsored
a delicious buffet dinner, which included a large juicy,
tender steak cooked to perfection and a wide assortment of
sumptuous food to go with it. It was fantastic!!!!
Many of our members donated some excellent prizes which
were drawn throughout the evening. Some of our lucky
golfers went home with big smiles on their faces when they
won some of the great prizes.
The CRRA Board of Directors is very grateful to and sincerely
thanks all our golf sponsors for their very generous support
of this year’s tournament. The Board also extends a big thank
you to our members who donated all the prizes for the draws.
We also very grateful to our volunteers for their help in making
sure all our golfers had a good time.
12 TEE AND GREEN SPONSORS
4Rent.ca
Boardwalk Rental Communities
Coinamatic Canada Inc.
Emerald Management
Pascoal Painting & Decorating Inc. (2004)
Phelps Smart Laundry
Prostar Cleaning & Restoration
Realstar Management
Reggin Technical Services Ltd.
S.I.S Supply Install Services (1994) Ltd.
Telus Home Solutions
The Roof Hospital
TEE SPONSORS
ServiceMaster of Calgary
Treaty 7
William J. Rhind & Associates Ltd.
Trail Appliances
GREEN SPONSORS
AEDARSA
Fireside Property Group
Greg Martineau Projects
Pam Chorley - Maxwell South Star
Calgary Residential Rental Association - Fall 2014
LUNCH SPONSOR
Boardwalk Rental Communities
DINNER SPONSOR
National Bank of Canada
HOLE IN ONE SPONSOR
Commercial Mechanical Services
PIN HOLE SPONSOR
National Construction Design
DRIVING RANGE SPONSOR
Serv It Bailiff Services Inc.
PRO APPROACH SPONSOR
Wall2Wall Media
GOLF CART SPONSOR
Peoples Trust Company
SCORE CARD SPONSOR
CAPREIT
GOLF BALL SPONSOR
Renfrew Insurance Ltd.
“SWAG BAG” CONTRIBUTORS
Alberta Roofing Contractors Association
Century 21 Power Realty Ltd.
ENMAX
Hank’s Plumbing & Gas Fitting Ltd.
Peoples Trust
Prodexs Sales Inc.
Renfrew Insurance
TELUS Home Solutions
Wall2Wall Media Inc.
RAFFLE PRIZE SPONSORS
Action Restoration Ltd.
Castle Appliances
Coast Wholesale Appliances
Colliers International
Economy Glass/Superior Paint & Body Service
ExactET
FirstService Residential Alberta Ltd.
Goodmen Roofing
Magnum York Property Management Ltd.
Prostar Cleaning & Restoration Inc.
ServiceMaster Restore
Telus Home Solutions
Vipond Inc.
William J. Rhind & Associates
Calgary Residential Rental Association - Fall 2014
CAPS OFF TO OUR VOLUNTEERS
Candace Duchscher – Coinamatic Canada Inc.
Heather Harke – Wall2Wall Media
Sarah Harrison & Nikki Gee - CRRA
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14 Calgary Residential Rental Association - Fall 2014
Is Real Estate Investing
Right for You?
By Pam Chorley
Have you ever thought where you and your family will be
financially in the next 5-25 years? It’s likely that real estate
investing has come to mind as a means to achieve your goals.
Buying properties, as a method to build wealth, has been
around forever, as a tried and true method, as a slow and
steady win. As a property owner, you may be able to realize
the appreciation in property value, use rent from tenants to
pay down the mortgage, collect positive net cash flow from
the tenant rent, and of course, provide people with a place to
live. Real estate investing is definitely not for everyone, but
neither is investing in stocks and bonds.
As with any investment, there are risks and rewards, ups
and downs in the marketplace, economic factors out of
your control, and many factors in your control. As a real
estate investor, you essentially become an entrepreneur, a
business owner. Treat real estate investing as a business, have
a goal, make a plan to get there, keep learning every day,
gain knowledge, ask lots of questions, control your revenue
and expenses, set up processes and follow them, and have
a network of great people to turn to for support. Create a
team of professionals who are focused and experienced in
real estate investing – Mortgage Broker, Realtor, Lawyer,
Accountant (tax), Property Manager, and Service/Repair
trades people. All these steps and people involved may look
to be a daunting task and a lot of work, and yes, initially it
is, but as you gain knowledge and perfect your processes, it
should become easier.
Your first step is to determine your buying price range. Are
you paying cash for a property? Do you need a mortgage?
Spend time with your mortgage broker/lender to become
fully qualified and pre-approved financially. There are special
mortgage options available to suit your needs if your main
source of income is a salaried position, if you have poor or
bad credit, or if you are an entrepreneur/business owner.
As part of your purchase you will need to make a down
payment. When purchasing your primary residence, lenders
require a minimum of 5% of the purchase price as your down
payment which subsequently triggers the CMHC/Genworth
insurance premium, paid by you, the buyer. On the other
hand, when you are purchasing a rental property, lenders
require a minimum of 20% of the purchase price as your
down payment, which then negates the insurance premium.
Your down payment can come in the form of savings, short
Calgary Residential Rental Association - Fall 2014
term investments, gifted from family, from another property
sale, RRSP Home Buyers Plan, or borrowing it.
Let’s get started with the task of finding the right property,
at the right price, in the right neighbourhood. To start, you
will need to share your goal with your Realtor. You may know
exactly what your goal is, or maybe you don’t know what you
want, or maybe your goal is changing. With due diligence,
knowledge and experience, your questions will be answered
and hopefully provide you with some clarity.
Here’s a few questions to get you started thinking about
what your goal may be:
• How about positive monthly cash flow? Property value
appreciation? Have your tenants pay your mortgage?
• Do you want a single family house or condo? 5
properties in the next 3 years?
• How about a property that already has tenants
on a lease?
• How about a single family house close to where you live
now, as you are going to manage the property yourself
and want easy access to it?
• How about a lock it and leave it condominium, whereby
all your outside maintenance is taken care financially
by the monthly condo fees and physically by the condo
board approved trades people?
• How about a foreclosure? Or a fixer upper?
• How about a property close to the LRT for easy access
to work for your tenants?
• How about a 4 plex and hire a property manager?
• How about investing in a city you don’t live in?
• How about a neighbourhood that is in transition with
new developments?
Real estate investments of all types have pros and cons.
These few questions above will probably provoke a few more
questions. Continue to work with your professional team to
find the answers and the right real estate fit for you.
Pam Chorley is a Realtor with MaxWell
South Star Realty. She can be reached
at 403 512 0377 and
[email protected],
403 512 0377
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16 Calgary Residential Rental Association - Fall 2014
WELCOME NEW OWNERS
& MANAGERS
Kike Aderibigbe
Lori Duin
Renee Huse
Toni & Colin Pearce
Gail Bartelen
Odelle Evans
Alexes Hushlak
Sheila Raukema
Anita & John Batas
Don & Charlene Fraser
Peter & Iam Huybregts
Jennifer Rebello
Masanori Benno
Masoud Foroozan
Jonn & Fax Kapjek
Stephanie Rendle
Dianne Birtley
Brett Frederiksen
Eleanor Kidder
Dale Ronsky
Robert Bisson
Melissa & Ross Fortune
Emily Kolaczek
Anna Rybak
Carmen Bolin
Amanda Garbiar
Irene Kolisnyk
Martha Sattler
Anna Marie Bouck
Jean Gilbert
Breana Jones
Gordon Saunders
John Boulton
Michelle Gilbert
Terry Luck
Giovanna Schiavo
Dean Brawn
Arun & Lilly Gupta
Sarah Lyon
Enola Schmitz
Andrea Brocklebank
Maria R. Gutierrez
& Yesid Puerto
Guzel Manderville
Jennifer Shrubsole
Lucy Mao
Amanda Simonds
Susan McGoey
Crystal Smith
Ann McKenna
Laura Strang
Diane Mosher
Joan Tanaruno
Greg Mould
Sead Tokalic
Alain Mupaga
Trinity Place Foundation
of Alberta
Ranjit Buttar
Lexter Chong
Liana Cox
Chad Rearder
Kim Cunningham
Highstreet Ventures Inc.
Andrew Hobbs
Allan & Marie Hogan
Shirley Horsfall
Salimah Nanji
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Each fall, the ARB looks for Calgarians to serve
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interested in joining the ARB, you should have
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property appraisal.
Copy this link in your browser for more details
http://www.calgary.ca/CA/city-clerks/Pages/
Quasi-Judicial-Boards.aspx
Calgary Residential Rental Association - Fall 2014
Donna Ogston
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18 Calgary Residential Rental Association - Fall 2014