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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 PEDDIE ROOFING & WATERPROOFING CRRA Members will receive a FREE Roof Condition Report and a five (5) year Preventative Maintenance Proposal. ppliare . a hardw rdware . . ls o o t a hting . inets h . plumbing We offer 24/7mbemergency ing . lig afety . cabservice. orial n l . plu ntilation . s fety . janit . ventilatio nitoria g sa ve ools . ja nditioning . ventilation . conditionin g . lighting . . t . g in ir t o . in a h c g b . g ir fety li in c m a . n a . l . plu bing l . hv ditio ting ion . sa l . plum ctrical . hea ting . air con rts . electrica ols . janitoria ing . ventilat ting . tools ia r o it h a n o le n g a a ting . t ing . li ing . he arts . e ance p onditio g . air ance p parts . light ware . appli mbing . ligh ating . air c orial . plumb ical . heatin ing . e d lu e r t it r t h p c a n a c . . n e h l l ja a le h . a li e . ia . ls g ric or g. app g . too . elect lightin . janit e parts heatin . lightin y . cabinets liance parts s . lighting . re . applianc ance parts . 891 9 -661 0 . safet rdware . app pliance part ols . hardwa ware . appli 0 8 to ap ard ha e 1 st tools . s hardware . g . lighting . . cabinets h r y Stor t in ty r Calga ue ur late u o f cabine orial . plumb ation . safe it Vis py o o nce Catalog o c a . janit ning . ventil r io Ask fo ty Maintena condit Contact Colin Milne at 273-7000. DO @ Proper Get connected! www.amresupply.com • quality brand names • over 50,000 items in stock • over 47 years, serving you • friendly experienced staff • fast dependable delivery • locations across Canada • one source convenience • industry leading website • wholesale pricing for qualified accounts #119, 3851 Manchester Rd SE, Calgary, AB Ph:(403) 243-6662 Property Performance Centres Problem Tenants? We Can Help! SERVING ALL OF A LBERTA Eviction • • • • Experts RTDRS Representation Enforcing Orders for Possession Landlord Distress Seizures Judgment Enforcement (403) 668-8813 [email protected] 4 310.GREG (4734) | www.gregmartineau.com #5 - 2816, 21st Street N.E., Calgary, AB T2E 6Z2 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 2013 Building Maintenance Catalogue now available! Do you have one? Service Member Directory For all of your property maintenance needs, trust the largest Canadian building maintenance and renovation products supplier. For more information, please contact : Paul O'Connor Phone: (403) 464-1640 [email protected] Now available on the CRRA Website under the “Members” tab. Check it out at: www.crra.ca Our Building Maintenance Catalogue for CRRA includes our top selling products with wholesale pricing! Call us for details! RONA_J_CRRA_3,5wx5h_ad_May2011.indd 1 11-05-09 3:29 PM Leading innovators in real estate financing CMHC & Conventional loans for: • Multi-family rental properties • Construction projects • Commercial properties • seniors’ housing projects dennis aitken josH barker Phone: 403-205-8203 [email protected] Phone: 403-205-8202 [email protected] ® Call us or visit peoplestrust.com 6 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 Proudly Working with the CRRA/CAA Since 1996 Manufacturing Custom Roller, Venetian & Vertical Blinds Since 1994 #140, 2770 107 Ave SE T2Z 3R7 Phone: 403-287-8264 Internet Fax: 1-866-908-5524 Website: www.blinds2000mfg.com CAL-RID EXTERMINATORS INC. Family Owned and Operated Since 1958 Unmarked vehicles for your privacy. On time service with uncompromising quality. Call NOW for FREE advice. Open 7 days a week 233-0646 www.cal-rid.com email: [email protected] 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 13 The right solution for your appliance needs... Whether you need appliances for a new apartment or it’s time to update appliances in existing suites... look to one of Western Canada’s largest appliance supplier to landlords, builders and contractors. Our business has been built on competitive pricing, product availability, timely deliveries, unequaliled service with an emergency service program. Put Trail Applainces’ selection and buying power to work for you, whatever your appliance needs. ALEC (Alberta Landlord Evictions Company) And ALLIED CIVIL ENFORCEMENT AGENCY INC. ONE STOP SHOPPING FOR LANDLORDS WITH PROBLEM TENANTS WE WILL ATTEND AT YOUR OFFICE Evictions Residential Tenancy Dispute Resolution $549.00 Queen’s Bench $750.00 (includes all disbursements) Seizures Allied Civil Enforcement Agency Inc. will affect seizure against tenants under the correct conditions this will cost the landlord nothing. Writs of Possession Allied Civil Enforcement Agency Inc. will enforce your Writ of Possession Litigation ALEC represents Landlords who are being sued or need to sue. Provincial Court limit has increased to $25,000.00. For free advice call John Shortridge Suite 126, 1111 - 6th Ave S.W. Calgary T2P 5M5 Telephone (403) 560-9406 or (403) 455-6955 • Fax 274-7403 email: [email protected] Contact Joel Wasnidge Trail Appliances’ Contractor Division 2745 - 29 Street NE, Calgary Cell: 403.605.2775 Fax: 403.250.2895 Email: [email protected] Our dedicated team in Edmonton can also assist facilities with mulitple locations. Terri Moulding, Trail Appliances Outside Contract Sales 9880 - 47 Avenue, Edmonton Ph: 780.434.9414 Cell: 780.818.5193 Fax: 780.434.5084 Email: [email protected] Insurance Risk Management Specialists for Property Owners • Property Managers • Service Industries Brenda Klassen, CCIB Senior Account Executive 300, 334 - 11th Avenue S.E., Calgary, AB T2G 0Y2 T: 403.299.1031 | F: 403.266.5177 | TF: 1.800.661.9897 [email protected] Our Community Partners: Calgary Residential Rental Association Canadian Condominium Association Southern Alberta Chapter Block Watch / Condo Watch Calgary Regional Home Builders Association www.renfrew-insurance.com A proud member of the Southern Alberta business community since 1948 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 15 Hassle-Free Laundry Rooms We are Canada’s Premier Property Services Company focused on laundry solutions. Providing “ENERGY STAR Most Efficient 2012” designated equipment with revenue enhancing cycles and market rate vend pricing. Driving utility efficiencies in water, electricity and gas consumption. 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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 ARE YOU INTERESTED IN BECOMING A MEMBER OF THE CITY OF CALGARY ASSESSMENT REVIEW BOARD? Nathaniel Nelson Apply Now to Become a Member on the Assessment Review Board (ARB). Apply by October 10, 2014 Diane Ortt Each fall, the ARB looks for Calgarians to serve as members of the Board. The ARB hears formal complaints from the public who disagree with the assessed values of property and business, as determined by The City of Calgary. If you are interested in joining the ARB, you should have a background in law, assessment, real estate, property management, property development or 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 Tien Truong Claudia von dem Bussche Trudy Waldinger Sarah Oldroyd Christine Wong Keith Olsen Richard Yu Sharon Omura Tracey Zschockelt WELCOME NEW MEMBERS – SERVICE COMPANIES Stephenson Engineering Vinspec Ltd. BONUS PRODUCTS & SERVICES JAMES AUTO BODY Bay 5, 3601 19th Street NE Phone: 403-291-3552 www.jamesautobody.ca 17 More Flexibility Obtain mortgage financing on up to 85% of the multi-unit property’s value when you are buying, building or refinancing. Take a fresh Look aT wHaT’s possibLe Lower Interest Rates Benefit from interest rate savings available throughout the entire life of CMHC-insured loans, including construction periods and renewals. Reduced Renewal Risk enjoy mortgage renewal with no need to re-qualify. CMHC insures the entire amortization period of the loan and coverage is transferable between CMHC-approved lenders. Learn how CMHC mortgage loan insurance gives you more choices for your multi-unit property investment. Call 1-877 Multi GO or visit www.cmhc.ca/multi-unit. UNPAID RENT? Date: Jan 30, 2013 DC# 30042090 Mechanical Services is your one call does it all solution size: 7.5” xCommercial 4.875” for all your building mechanical maintenance needs. Our team of publication: CRRa qualified plumbers, electricians, heating and refrigeration specialists Department: insurance will be quick to respond to your call, 24 hours a day, 7days a week. TROUBLE TENANTS? Our competitive rates, combined with high quality service and professionalism, as well as combined strong troubleshooting skills, will prove to be invaluable to your operation. 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