10 Things you Must Know before Renting an Apartment

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1. Set a financial plan.

Consider the amount you can bear to pay and take after the “administer” not to surpass 30-percent of your month to month pay. Center your hunt as indicated by your financial plan and however you might be compelled to trade off when finding a greater apartment in a superior region, ensure it merits spending the additional cash. In case you’re searching for a less expensive place to rent, attempt flat mate administrations to share an apartment, yet ensure you recognize what sorts of individuals or propensities you’d like to keep away from.

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2. Where to seek?

Not going to utilize a dealer’s administrations due to the additional cost the following thing is to look in the daily paper classifieds, apartment seeker distributions, school grounds release sheets or on the Internet. You’ll know the rental market much better and will presumably show signs of improvement bargain. Additionally tell your companions that you’re searching for an apartment to rent and possibly they know something in their structures.

3. What to look for?

Take a sheet of paper and record them your necessities list. Do you need a tranquil building near school or work, that permits pets and has free stopping? What about a dishwasher machine or clothing offices adjacent?

You may likewise need to visit the area at different circumstances of the day, night and end of the week to check whether it’s what you anticipated.

These all tally when you choose where to live in for the following couple of months, if not years.

Back and archives

Since the proprietor needs to ensure you’re great with paying the month to month rent a large portion of the circumstances, you’ll in all likelihood need to finish an application and pay for the application expenses or for credit reports. Be readied.

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4. The renter’s resume.

Much the same as a CV for a vocation application, a renter’s resume ought to incorporate all the data to influence you to emerge from different candidates and to persuade the proprietor that you’ll be a reliable occupant. Individual references, last locations with proprietor telephone numbers, your month to month pay or a duplicate of your credit report will influence you to look great on paper, which you require it.

5. What’s incorporated?

It’s essential to know whether the rent incorporates warming, water, power, link or Internet association yet more vital is to recognize what are the normal service charges in the building. Inquire as to whether you need to be ensure you won’t get insane numbers on your bills.

6. Read before you sign

A typical error we more often than not make isn’t to peruse an agreement before we sign. Acquire a duplicate of any standards and directions, ensure you experience everything and before you sign the lease, verify whether these are specified:

• The starting and the lapse date

• The rental cost and data about your security store

• What are the purposes behind which your landowner can end your lease contract

• Are there any punishments for moving out of your apartment before the lapse date?

• Are there any obligations on your set out toward repairs and such?

• Is subletting permitted ?

• See in the event that you need to purchase renters protection, since it will build you add up to cost

• Is there an approach about visitor guests?

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7. Contract issues

It’s a major move so you need to ensure you’re secured on each viewpoint so never sign a lease without seeing the apartment regardless of the possibility that it’s a deal. Second of all, our recommendation isn’t to sign an agreement that has a programmed restoration condition, since you may not comprehend what will occur one year from now. Perhaps you change work or move to another city and a reestablished contract would just power you to pay regardless of the possibility that you’re not living there.

Last thing and a vital in the event that you appreciate protection, avoid a lease that gives the proprietor boundless access without warning. Inhabitants have their rights and a proprietor ought to be allowed without see just if there should be an occurrence of crises.

Review the apartment

Most vital thing when you review an apartment you intend to lease isn’t to give the looks a chance to swindle you. Search for the “concealed” qualities and if there’s any harm request it to be repaired else you might be reprimanded for it later.

Find out the Apartments for Rent in Qatar

8. What to search for

You like the value, the region is awesome, yet you have to see where you will live. Here are a couple of things to investigate:

• Pipes — be it gas, water or whatever else, check for spills.

• Sink fixtures, shower heads and water — ensure water (both frosty and hot) truly leaves the spigots and the give head and it’s a tolerable weight. Additionally thetoilet needs to flush appropriately and altogether.

• Electricity and apparatuses should all work. Check if every one of the lights or other electric gadgets are operational. Likewise check the aeration and cooling system and the warmer to check whether they’re useful for anything.

• Walls and windows. Check the windows to check whether they open, close and bolt legitimately. Additionally examine the dividers. The more dividers in like manner (imparted to bordering apartments), the more prominent the shot of clamor from nearby.

• Noise. For an understudy, outside clamor might be to a great degree aggravating and may meddle with learning. In the event that it’s an exceedingly trafficked region you may have issues thinking and notwithstanding resting.

Arrange your lease

In the case of everything went smooth, you like the apartment and the landowner likes you, it merits endeavoring to arrange a smidgen.

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9. Know your landowner

It’s essential to know some fundamental data about the proprietor. On the off chance that it’s an administration organization with a huge number of apartments for rent it might be harder to arrange, however in the event that it’s a family and they simply need to secure the pay every month, you have a green light to settle the negotiations with a little rebate.

10. Get your arrangement

Read the lease painstakingly and see what applies and what doesn’t. In the event that there are things in the lease you may not require or in case you’re willing to take a few duties like cutting the grass or taking conveyances sympathetically request that the proprietor bring down the rent. Another way could be to offer a more drawn out term lease or a higher security store. A critical part of arranging your lease is to be amenable and not give ultimatums since you may find a speedy negative solution.

Looking for Apartments for Rent in Doha? Visit Capital One Today



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Calling all Property Managers — Let Technology Help You

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Have you ever thought of how much time is wasted on going out to do inspections and then having to come back to your office to create “nice” inspection reports?

Well, let me help you understand just how much time is used up during this process on an average. Again, this will depend on the industry you are in and the complexity of the inspections themselves making it vary across the board.

Property Management Industries that conduct inspections daily.

On average, an inspector within any of the above industries would spend around 40–60 minutes (more for some) completing inspections such as Move In/Move Out etc, while also factoring in travel time and building size.

Let’s say that 1 property manager looks after about 100 properties and would need to inspect each property at least 3–4 times a year. Again, this differs from how often you have routine checkups on managed properties and how often tenants turnover is but we’ll use the 100 benchmark . Overall, you are looking at 1–2 inspections per day and if you’re not a productivity machine (most of us aren’t, hey! we’re only human) then you may be fitting in 4,5 maybe 6 property inspections in a day when you can!

“…reports can add up to an extra 1–2 hours per day”

The total time spent doing the inspection and coming back to prepare reports can add up to an extra 1–2 hours per day depending on how many inspections you’ve completed during the day. To stay productive you will need a more efficient way to do this and this is where technology specifically, property inspection software comes into the picture.

Industries save up to 80% or more in efficiency gains.

With the correct property inspection app you can skim up-to 75% of the inspection time and with the correct property inspection software you can cut down up-to 90% of the report creation time. Why? Because inspection software will create the report for you in a matter of seconds. With SnapInspect you can have any type of report created within seconds. Whether it be a simple move in/out or a complex due diligence inspection the software will do the work for you.

Why? Because inspection software will create the report for you in a matter of seconds. With SnapInspect you can have any type of report created within seconds. Whether it be a simple move in/out or a complex due diligence SnapInspect will do the work for you.

Property Inspection Software can guarantee at least 2 ways to help you save money:

  1. Automation— through automation you will be able to save a whole heap of time on multiple tasks. With inspection software and apps there are a suite of functions that automate tasks such as bulk uploading properties, automatic emailing, scheduling, video inspections and business intelligence.
  2. Efficiency— Technology helps improve employee efficiency by allowing teams to get more work done in less time. For example automatic text features or voice to text allowing for faster data collection on site. Teams are more accountable for each inspection completed and can report back to their clients in a more organised fashion.

Investing in technology is almost always a more cost effective move but only when you know what you’re doing.

If it’s your first time using software utilise the product demos as you can learn a lot in one session. Know what you want to achieve before hand to make the process smooth one.

SnapInspect can help make the move to technology easy. We’ve helped many companies gain a return on investment on by switching to a simple, modern & automated platform.

Learn more about SnapInspect HERE.



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The Resilient, Expanding Santa Barbara, CA, Real Estate Market

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Based in Santa Barbara, CA, James P. Knell guides a group of companies that own and manage diverse properties throughout the country. James P. Knell pursues opportunistic investment strategies that include the acquisition of distressed assets and is knowledgeable about bankruptcy law and debt restructuring pathways. He stays current on real estate trends throughout Southern California and beyond.

Two years ago, Santa Barbara, CA, broke through recovery mode and entered an expansion phase that took advantage of historically low interest rates and a sustained decline in unemployment. By mid-2015, robust year-on-year appreciation had brought average residential prices to just over $1 million, or five times the national average. In terms of California, the city ranked just below San Francisco’s luxury market.

This did not mean that investment opportunities were lacking, with upwards of 200 properties in some stage of foreclosure and this expanding roster providing value to savvy investors. The sharp rise in foreclosure volume was attributed to financial institutions finally taking action in situations where significant bank-owned debt existed. As of November 2016, the local market has held steady, with the median sales price hovering at $1 million.



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Conducting Due Diligence Before Purchasing a Vacation Hom

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October 23, 2017 by Julia Rae

A vacation home is a great transition property. Because it will be used only part of the year, a vacation home has the potential to be rented out. This will help the property owner move from occupant to real estate investor. However, like any other real estate investment, a vacation home intended to serve as a rental property requires a high level of due diligence. This is especially true for vacation homes located in Florida.

Local Area Knowledge of The Investment Property

The first level of due diligence is to know the threat of flooding associated with the property. Finding this begins with the Federal Emergency Management Agency’s Flood Insurance Rate Map. These maps are broken down into only three flood zones. The information on them is basic and relates only to flood insurance. More detailed information can be gleaned from topographical maps of the area. These require some familiarity to read.

As in investing, the past performance of floodwaters is not a guarantee of future results. Tropical storms impact coastal communities differently based on how the storm hits the coast. A purchaser cannot depend on the fact that a property was not impacted by the last storm to come through as evidence that it is safe from all storms. Always keep in mind that being located near the coast is a double-edged sword. Everyone wants to live there, but that is where tropical storm damage is typically the worse.

A prospective buyer should also familiarize themselves with any levee system protecting the property. Levees are basically walls to keep water away from property. A levee can fail — known as a breach- if the water behind it gets too high or if it is driven against the levee by a powerful wind. The fact that a property is protected by a levee is not a reason to pass on it. However, this but it is not the sort of thing any buyer wants to learn about after the closing.

Conduct Due Diligence on Building Codes

After Hurricane Andrew hit the state of Florida in 1992, the state changed building codes to require stronger buildings. Of course, there is plenty of housing stock that did not have to be rebuilt after Andrew. Those buildings still does not meet these new codes. New buyers in Florida need to become very familiar with the changes in building codes and cannot depend on assurances that a property “meets current code”. This phrase may mean it meets the current requirements because it is grandfathered.

Taking the time to learn what a “hurricane-proof” house includes takes some time and effort, particularly for property owners unfamiliar with the structural details of their own home. However, the information is readily available. The time spent becoming familiar with the terms and standards of hurricane-proof construction needs to be considered an investment in the property as much as the down payment or financing.

Pay particular attention to doors and windows, and the garage door in particular. Experts suggest that the overhead garage door is typically the weakest link in the protective armor of a house. If the garage door fails, they warn that the entire house has been compromised because of how the wind will increase the air pressure in the garage. Patio doors are another area of concern and should be equipped with hurricane shutters like all exterior windows.

Keep in mind that just because a house does not have a reinforced metal roof or tie downs on the foundation does not make it unsafe during a storm. It just does not meet the current standard for a hurricane-proof structure. Consider the fact that these upgrades may need to be done during a remodeling project. Those costs should be reflected in any offer made to buy a beautiful Florida vacation home.

Stay updated on the latest real estate industry trends and news!



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WHAT YOU NEED TO KNOW: Residential Capital Gains Tax

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If you are non-resident in Portugal and you decide to sell a property in this country, capital gains tax is something you will have to consider and, in some cases, factor into your decision making process.

In this context, a 2016 court decision can have a huge impact in your tax bill.

Here’s what you need to know:

Real Estate Capital Gains Tax for tax-residents

For individual taxpayers that are resident in Portugal, only 50% of the effective[1] capital gain realized by the vendor on the sale of a property[2] is taxable.

Once the taxable gain is assessed, the rate is set in accordance with the sum between the capital gain and the rest of the taxable income of the taxpayer in question, on sliding scale of rates that, for 2017, can go as high as 48% for those with an income above 80,000.00 €[3].

The case for citizens of a EU Member State that are non-resident

With regards to non-resident taxpayers, the tax authorities have argued, based on the letter of Article 43º, section 2, of the Portuguese Personal Income Tax Code (Código do Imposto Sobre o Rendimento das Pessoas Singulares— hereafter “CIRS”), that the entire effective capital gain realized by the taxpayer is taxable, at a special rate of 28%[4] (Article 72º CIRS), thus preventing the affected individuals — even if they are citizens and residents of another EU Member State — from benefitting from the provision that states that only 50% of real estate capital gains are taxable.

This practice established a discriminatory treatment that is clearly unfavourable to citizens of another EU member-State that are not resident in Portugal.

What the Court is saying

In February 2016, the Supreme Administrative Court (Supremo Tribunal Administrativo— STA) has issued a ruling that confirmed that Portuguese legislation in this regards was incompatible with EU law in so far as, in this domain, does not extend the same treatment to EU citizens that are resident in Portugal to those that are non-resident.

Article 64º of the Treaty Establishing The European Community prohibits «all restrictions on the movement of capital between Member States and between Member States and third countries» and, considering the article 8º, section 4, of the Portuguese Republic Constitution (Constituição da República Portuguesa), that states that European Law provisions prevail over incompatible domestic law (as long as the fundamental principles of a democratic legal State are not breached), the CIRS provision related to capital gains that establishes a distinctions between resident and non-resident taxpayers must be set aside with regards to citizens of a EU Member State.

Brexit

For the future, considering that a large number of non-resident citizens that own property in Portugal are British, it is critical to monitor the future impact of Brexit on this specific issue.

Final Notes

Capital gains tax in Portugal is relatively complex and some thought should be given to the matter by vendors, especially foreigners and non-resident individuals, to make sure that the best possible outcome is achieved and simultaneously that no fiscal obligation is breached, with possible dire consequences.

With proper advice, an alert taxpayer can, in some circumstances, cut its tax bill substantially.

[1] Some costs (e.g. commissions, tax, benefits etc.) can be deducted for the purpose of calculating the gain realized with the sale of the property.

[2] Please note that if the property was purchased before the 1st of January 1989, when the CIRS came into force, the taxpayer shall not be liable for capital gain, even though he will still have to declare it in Annex G of his yearly IRS income statement.

[3] Real estate capital gain on the sale of the taxpayer own home can be exempt from tax if reinvested under certain conditions.

[4] Residents in another EU Member State or in a country within the European Economic Space (if fiscal information Exchange mechanism is in force) can ask to be taxed at the rate that would apply for taxpayers resident in Portugal. In this case, even the income obtained outside Portugal would have to be declared for the purposes of assessing which is the applicable tax rate (Article 72º, sections 9 and 10, of CIRS).


WHAT YOU NEED TO KNOW: Residential Capital Gains Tax was originally published in WHAT YOU NEED TO KNOW: The Law in Portugal on Medium, where people are continuing the conversation by highlighting and responding to this story.

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How to get the rental you want

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Impress any landlord or property manager by following these simple tips

In some cities, getting into a good rental can seem as competitive as getting accepted to an Ivy League school. But if you’re prepared, knowledgeable, and professional when you apply, you’ll stand out from the throngs of people waiting for the open house to begin.

As an apartment manager, I’ve spent years meeting and evaluating applicants, so I know what makes potential renters rise to the top. Here are some tips and tricks that will make you — and your application — grab the attention of any landlord or property manager.

Keep your word

All too often I deal with applicants who make appointments but never show up, then fail to email or call back when they say they will. Sometimes they contact me a week later asking if the unit is still available, with no explanation as to why they ghosted. If you’re serious about seeing the property, show up. And please, be on time.

So, you made it to the showing appointment, love the apartment, must have it, and promise to fill out the online application as soon as you get home. It’s in your best interest to actually fill out the application as soon as you get home (or somewhere where you can fully fill out the app).

If the landlord is using Cozy, you can fill out an application from your phone before you even leave the property. If the landlord is still using paper applications, you can still share your Cozy renter profile, which gives them more info and helps set you apart.

Most competitive rental situations generally operate on a first-come-first-serve basis for qualified applicants. If the next qualified person to view the unit gets their application in first, and they’re approved, you’ll probably lose the apartment.

In most cases, you’ll only need a handful of items to apply for a rental property. These include, but aren’t limited, to:

Employment history

Not only will you need contact information and payment history for your current position(s), but likely for the past two years, as well.

Pay stubs or other proof of income

Most landlords require you to prove your income. Be sure to check the income requirements for the particular property. Some require you to earn at least two times (and sometimes three times) the monthly rental amount.

Rental history

Gather all your past addresses and previous landlords’ contact information (phone number and email). Your potential landlord needs to check your rental references to ensure you’ve paid your rent on time and haven’t had any disputes with past landlords.

Credit score

It’s valuable to know what shows up on your credit report before you apply to any rental property. If there are any inaccuracies, you’ll have time to dispute the issue with the credit bureau. And, if you see any potential red flags, you can tell your potential landlord right away so there aren’t any surprises when they check your credit report. You can check your own credit report for free at annualcreditreport.com, the only source for federally-authorized free credit reports.

Check your credit score and credit history before beginning the application process. While an application won’t ask you directly for your credit score, you can be sure that at some point during the application process, the landlord will check your credit score. There are a handful of credit resources online (including annualcreditreport.com) that allow a free credit check every 12 months. Be aware of the credit requirements for the rental property; it may not be worth having your credit pulled if you know you don’t meet the requirements. A soft credit inquiry won’t negatively affect your credit score.

Rental references

Most potential landlords will want to interview your former or current landlords. They’ll want to know if you paid rent on time and kept your place clean. Be sure to leave on good terms, and ask your former landlords if they’d be willing to give a positive reference.

Personal references

Most applications require you to list at least two personal references. These people can be previous bosses, friends, roommates, or people you trust who’ve known you for a long time.

These days, many rental companies and landlords accept applications online, but sometimes you’ll be asked to fill out a paper application at the time of the showing. Make sure to bring all the information listed above so you can fill out the application as thoroughly as possible. If there is a link to an online application in the rental advertisement, filling it out before the showing can be a great way to “cut in line.” However, rental application fees are typically non-refundable, so be sure this is really the apartment for you, or be prepared to forfeit the application fee. If a property manager is still using paper applications, be sure to ask how they plan to secure your sensitive information to mitigate the risks of identity theft.

Treat a rental property viewing like a job interview

First impressions count, even when applying for a property. Just a little preparation will make a big difference.

Make a good first impression

Dress professionally (or at least like you didn’t just roll out of bed), be on time, and be courteous. More than once, I’ve met applicants who showed up wearing pajama pants or with alcohol on their breath to view my apartments. We notice these things.

Know your stuff

Be as knowledgeable about the rental property as you can. A good rental advertisement includes details like the rental amount, security deposit, lease duration, which utilities are included, and the screening criteria. The more you know, the more it shows that you’ve done your legwork and are serious about getting the place.

Ask good questions

These include things that you’d have no way of knowing from the rental ad, like how the landlord prefers to handle maintenance issues or for details about the “vibe” of the building.

Let them know why you’re moving

This is a touchy subject because not everyone has a positive reason for a move — and by no means do landlords expect you to divulge extremely personal information — but what we really want to understand is your motivation. Show a landlord you’re ready to move, and prove why you’d be a great tenant. Do you have a history of staying long-term at past rentals? Do you play well with others? Are you easygoing and responsible?

Don’t try to hide your past

Life happens. Every landlord and property manager is a human who has the capacity to understand that we all make mistakes. Sometimes it just takes an explanation and their understanding for you to get a second chance.

Disclosure is key. If you have a DUI on your record, less than stellar credit, or even a negative rental history, fess up. I’d much rather hear an explanation from you upfront than uncover your background while I’m researching your application. Otherwise, I might assume you were trying to hide information, which is not a good way to begin a landlord/tenant relationship.

Some landlords will forgive credit blemishes if you are willing to pay an additional security deposit. Timing matters, too. Is your poor credit score because of problems five years ago or five months ago? Most landlords weigh student loan and/or medical debt differently than a year of missed credit card payments.

Some landlords may let you have a cosigner who is typically a relative (but can be someone else as well). This person should be willing to vouch for you and take on rental payment responsibility.

It can be tough to find a rental if you have poor credit or an eviction on your record, but it’s not impossible. Do your best to be upfront about any issues a landlord may find during the application process, and ask if they’d be willing to work with you. This will save everyone time, and more often than not, you’ll be rewarded for your honesty.

Be yourself

I know, I know, it’s a cliche. But the more you let your wonderful self shine while viewing the rental, the more you’ll get an idea of whether the property is right for you. A happy tenant makes a happy landlord, and there’s nothing better than a happy landlord. Trust me.

Originally published atcozy.co.


How to get the rental you want was originally published in Fireside Chatter on Medium, where people are continuing the conversation by highlighting and responding to this story.

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Real Estate Is Tough, But So Are You.

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What’s that old saying? “when the going gets tough, the tough get going.” — I am not sure if you recall that old adage but it is one that has always stuck with me. Maybe it was in a country song, I’m not sure. But, one thing i know is there is solid tone of truth in the statement. What defines us is not when things are going good and we can do no wrong, what builds character and defines who we really are is when adversity is starting us down. When we are face to face with tough situations, how do we respond? Specifically, when you real estate career is tough, how are you going to respond? Because let me make you a 100% promise: it will be.

You real estate career is going to be tough, especially at the beginning. NAR estimates that 2 out 3 new licensee’s will quit after the first 12 months. Up to 75% could be gone in the first 3 years. That doesn’t boast a lot of confidence of success to those looking to start off their real estate career. Are there things you can do to make your start better, of course! Are there ways to mitigate the risk in your first 12 months of real estate, absolutely! That’s where having conversations with the right brokers and companies from the start play a huge role. But even beyond that, your attitude towards adversity is ultimately a deciding factor in your realtor career success.

So here are 3 things i think you should keep in your mental game when it comes to staying strong with your real estate career:

  1. Expect problems — go ahead and mentally prepare for speed bumps. Look at each challenge as an opportunity to learn and grow.
  2. Stay Positive — if a real estate career is your passion and dream, then your macro-perspective should be that of optimism, even when things are hard.
  3. Take Ownership — real estate is a business, and as a Realtor you’re a business owner. You’re the CEO and the Janitor. It’s on you, both the success and the failures. Time to own up!

www.DiscoverEagleRealty.com— Career
www.Facebook.com/ChrisWardBIC— Chris Ward BIC Page
www.Instagram.com— @EagleRealtySC
www.Snapchat.com— @EagleRealtySC
Website —www.EagleRealtySC.com
@chriswardbic — Soundcloud



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Charles Q3 2017 Market Report

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Charles Market Report

Welcome to the Charles’ Q3 market report. This quarter we cover market stats, the looming impact of new mortgage rules, a review of why we don’t think we can look to China in hopes of some kind of price surge, and what is up with the Amazon bid and what it means to YYC.

Market Data and Trends

The long U shaped recession is taking just as much time recovering as it did linger. Things continue to look up, with year over year sales up 7% in the first half of this year, but we remain 11% below average. There is still no real price recovery and so pricing your home plays a big part in today’s sales strategy.

We continue to see a large gap in supply between single family homes and condos. Currently, we have 3.79 months of supply in detached homes but 8.42 months of supply in apartments.

Looming Impact of New Mortgage Rules

The federal agency regulating banking has been under pressure to respond to overheated market conditions in two of Canada’s major centres. Unsustainable debt loads for many Canadians are the result of too many having to stretch themselves to simply buy a home in Vancouver or Toronto.

Unfortunately the new regulations that are coming into effect in January will do nothing to help with our recovery in YYC.

The changes to the stress test mean that even though today you could qualify for a mortgage for 5 years with rates as low at 2.97% — come Jan 1, you will need to qualify at a much higher “bench-mark” rate.

What this effectively means is that you will need 20% more income to qualify for the same mortgage as you can qualify for today. This is going to come as a shock to buyers. If you are looking to buy in the next 6 months, it may be best to make a move now.

Amazon

Oh the collective dream we all have of Amazon choosing a YYC as their new HQ2 and catapulting this city into the economies of the future. Calgary is competitive from a financial perspective and will provide the employees of any company that moves here a high quality of life.

Calgary Economic Development has submitted a bid on our behalf but who is to say if it can match some of the crazy incentives we are hearing American cities have offered Amazon. There are clear commercial advantages to moving to Canada that include an immigration system that favours highly qualified workers, and a government run single payer health care system that saves corporations a lot of money in benefit package costs.

While we check almost all the boxes that Amazon has listed — 1million people, international airport, good transit, bike paths, affordable housing and a highly educated population — we are one of many.

Regardless of the outcome, this process has been an excellent exercise in taking a look at ourselves and what we have to offer other companies who may be looking to expand and relocate.

Calgary has still has a low corporate tax rate, world class office space for a fraction of the cost of other cities, a highly skilled labour pool and our housing prices are affordable compared to other major centres in Canada.

Calgary is poised to attract a big tech player, or perhaps a number of smaller startups. Either way, our dynamic city should some exciting changes over the next few years.

Charles believes this community has a lot to offer anyone looking to grow a business and that is why we have volunteered to help Calgary Economic Development in any way possible.

Sorry, Chinese Buyers Are Not Going to Swoop In And Push Prices Higher

As we mentioned in Q1, Charles Real Estate invested in exploring opportunities in China including advertising on WeChat, creating a Chinese Micro Site of our website and working with a Mandarin speaking agent in Hong Kong. We do not believe there will any short term increased trend in Chinese investment in the Calgary area. All indicators are that market controls within China itself are having a massive impact on capital flows out of the country and we do not see that trend slowing. The Chinese government has done more to slow down Chinese investment in Toronto and Vancouver than any foreign buyer tax has. Between January and June of 2016 outbound Chinese investment was $89 billion dollars. In the same period in 2017 it was $48 billion. Year over year it is down 46%. There has been speculation that after this month’s 19th Party Congress Beijing’s economic restrictions will ease, but to-date all indications are signalling that capital controls are here to stay.

Always here to help.

At Charles Real Estate we are always available to help answer your real estate questions and help you navigate the market. Please do feel free to get in touch with any of our partners or associates.



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Never Make These Open House Mistakes

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Put yourself in a prospective buyer’s shoes for a moment. After flipping through a seemingly endless series of professionally-taken photos online, you’ve fallen in love with a home on the market, and are seriously considering it as an option. Then, when you finally walk through the front door, you find yourself losing confidence; the house looks nice enough, but the owner keeps making awkward small talk and something smells funny when you walk from room to room. It wasn’t a bad house, exactly, but the experience isn’t the dream you expected. You pass, and move on to the next potential home.

First impressions are important, especially for buyers visiting your house. For sellers, an open house is the first — and sometimes only — chance to convince a potential buyer that your house is their dream home. Setting a date is easy; making a house measure up to a buyer’s high expectations is considerably less so. It isn’t enough to do a cursory clean, bake some cookies, and hope for the best; the experience needs to be perfect. Avoid making these mistakes when you begin planning your open house!

Over-Using Scents

You may think that the pine-scented air freshener you bought at Wal-Mart smells nice, but the powerful scent might seem overwhelming or distasteful to your buyers. Worse, they might suspect you of using the freshener to cover odors in the house. On a similar note, schedule any deep-cleaning efforts for several days before your open house to avoid overpowering potential buyers with chemical odors. Err on the side of caution, and stay away from products that give off powerful scents.

Hovering Over Potential Buyers

Potential buyers often feel limited and unable to voice concerns when the home’s owner is hovering over them. Try to stay in the background and let the real estate agent do the talking!

Blocking Off Rooms

Telling a buyer that they can’t enter a room is a major mistake. Even if you only want to hide your disorganized bedroom, buyers will suspect you of attempting to conceal a flaw in the building and reject your home as an option. Take the time to clean your home fully and make sure that every room is ready for inspection.

Keeping Pets in the House

Pets should never be in residence during an open house. You may love your fluffy friend, but one of your buyers might not — and for those who don’t, seeing or smelling your pet in the house could be a dealbreaker. Avoid potential conflict by asking a friend to mind your pet for a few hours and removing all litter boxes and toys that could indicate an animal’s presence.

Missing Marketing Packets

If a buyer asks for a marketing packet, you better have one on hand. Be prepared for questions and requests for further information by compiling packets with all of the sale information that an interested buyer might need. Make sure that you have enough copies; there’s nothing more embarrassing than telling a buyer that you’re underprepared for your own open house!

*Originally posted on DanJey.com



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What are the things that should be done during the Due Diligence Period.

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First, what is a “due dilidgence” period? When most people buy a home, the contract is subject to a “due diligence” period, when a buyer is able to terminate the contract and get their earnest money back. This is one of those terms that we as real estate agents throw around and im not really sure if the buyer nor seller fully understand why this period of time is needed.

Essentially, the due diligence period is the first two to four weeks after the contract becomes binding. A contract is binding when both the buyer and seller have agreed to the terms, signed the contract and the complete contract has been delivered to both parties. The date that this happen is called the binding date and it marks the beginning of all contingencies on the contract, including the due diligence period.

The length of the due diligence period is negotiable. Two to three weeks is typically enough time to complete everything that needs to be done, but if you are not able to complete the work recommended during this period or you are not able to reach a satisfactory agreement about the issues found during the due diligence period, all parties can mutually agree to extend the due diligence period.

Most buyers associate the, “due diligence” period with “home inspections,” and while having a good inspection is certainly a critical part of due diligence there are other issues that should be considered during this period. In addition to having an inspection conducted on the property, it is also important to inspect the neighborhood, because while many features or conditions of the home can be changed, the neighborhood cannot. Some things to consider investigating during the due diligence period include proximity to any places or facilities that you might find troublesome such as a prison, cemetery, airport, or landfill. Additionally, you might also want to find out more information about your potential neighbors, including a violent sex offender. It’s also a good idea to research local schools and crime rates and make sure that you are comfortable with all of these.

On the actual property, in addition to the dwelling, you’ll also want to conduct research about the land such as property boundaries, flood plains, power lines, and zoning. If you are buying a condominium or a home in a neighborhood with an HOA, make sure that you have a firm understanding of the bylaws of the homeowner’s or community associations and that you know what the annual or monthly required fees are and what services are included in those fees.

Realtors rely on the information given by the current owners of the property in the seller’s disclosure statement in order to answer any questions you might have and this is usually a very good source of information. However, you should want your realtor to independently verify any information provided by the current owners with a third party source because many owners, even if well-intended, are unaware of certain factors that may affect your decision.

Thanks for reading!



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