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Friday, February 26, 2010

Wow! Gorgeous Condo For Rent At The Forks!








Available Now:

2 Bedroom luxury condo in the prestious "SKY" condominium project.

Located on the 4th floor with a stunning river view from the large living room windows, this 2 bedroom condo unit has over 1000 square feet of luxury!

The island kitchen has brand new stainless steel kitchen appliances, including over-the range built in microwave and custom maple cabinets!

With two spacious bedrooms, in-suite laundry and a large common area (complete with plasma TV, bar, and pool table) this unit won't last long! There is also a roof-top terrace, indoor parking and a storage locker included in the rent.

The last unit we posted only lasted a day, so book your appointment now to view!
Offered at $1595 + hydro (electric high efficient heat).
Call (204) 415-6200 or email at tenants@garamark.net
and mention code 159.

Got Questions? Email us at owners@garamark.net
Garamark Property Management is located in Winnipeg, Manitoba and successfully balances protecting the investment of an owner while retaining happy tenants.


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Wednesday, February 24, 2010

Landlord Series - Notice Of Termination (Part 4)

The Landlord Series are various tips to help the owner of a rental property become a better and more informed landlord.

In this series we explain the Notice of Termination (Part 4)

Today we are going to explain the Notice of Termination - Landlord Sells Rental Unit

When a landlord sells a rental unit, they can give the tenant notice to move:
  • if the purchaser asks them, in writing, to give the tenant notice because the purchaser plans to occupy the rental unit, or plans to have their family members move in
  • once all the conditions for sale are finalized

NOTE: a landlord cannot give a tenant notice to move simply because they plan to sell the rental unit

The termination notice must be delivered to the tenant or an adult at the rental unit.

How much notice must you give?

  • one rental pay period for those tenants on a month-to-month tenancy
  • at least 3 months notice to those tenants on a fixed term tenancy (i.e. year lease)

If there are school age children living in the rental unit, the tenant can stay in the unit until the end of the school year as long as the children go to a school that is conveniently accessible to the rental unit.

Also note the landlord is responsible to pay up to $350 of the tenants moving expenses when terminating the tenancy agreement for these reasons.

Got questions? Email us at owners@garamark.net

Garamark Property Management is located in Winnipeg, Manitoba and sucessfully balances protecting the investment of an owner while retaining happy tenants.

www.garamarkpropertymanagement.ca

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Monday, February 22, 2010

Property Feature: 3 Bedroom house on Banning Street




This 3 bedroom house on Banning has newer carpet in the bedroom and full finished basement and hardwood floors!
This property boasts 3 good sized bedrooms, an eat-in kitchen as well as a single detached garage and fenced yard!
There are many upgrades throughout the house. Close to Polo Park and all amenities, this house is perfect for a family.
To view, please call our office at (204) 415-6200 or email at tenants@garamark.net
Please mention code 148
Got questions? Email us at owners@garamark.net
Garamark Property Management is located in Winnipeg, Manitoba and successfully balances protecting the investment of an owner while retaining happy tenants.

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Wednesday, February 17, 2010

Government Announces Major Changes to Mortgage Lending: How Will It Affect You?

Finance minister Flaherty announced yesterday morning the following major changes to the mortgage industry:

  • people applying for variable rate mortgages will have to meet the more stringent standards applied to a 5 year fixed rate mortgage
  • people will only be allowed to re-finance up to a 90% loan-to-value (LTV) as opposed to the previously allowed 95%
  • people buying a home they don't intend to occupy will require a 20% down payment

What does this mean to an investor? Plenty!

If you were one of those investors that pulls money out of their current rental property up to 95% and then turns around and purchases a new rental property using a 15% down payment, you now have to re-think your strategy.

Is this a bad thing? In our opinion, not really. The move means that only "serious" investors are going to be buying houses, which is not a bad thing. If an investor is not ready or strong enough financially to get into a rental property, this will protect them from making some fatal errors. And qualifying people based on a variable rate payment is irresponsible and mirrors the mistakes that happened in the US.

It also stabilizes the economy (the Canadian dollar was up more than a cent 4 hours after the announcement) and as a result housing prices will stabilize across the country and will hopefully continue their upward trend.

Got questions? Email us at owners@garamark.net

GaraMark Property Management is located in Winnipeg, Manitoba and successfully balances protecting the investment of an owner while retaining happy tenants.

www.garamarkpropertymanagement.ca

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Monday, February 15, 2010

Want To Know How To Properly Manage Your Rental Property?

So....you're a property owner...an investment owner...a landlord...but you don't know what you are doing?

Maybe you inherited a rental property, or maybe your spouse brought you along for the ride and you just want to increase your knowledge...or maybe you jumped in with both feet to buy the property and now realize you bit off more than you can chew? Maybe you have been able to manage the property successfully for a number of months and now the tenant is giving you a hard time?

No matter the reason - GaraMark Property Management is here to help.

If you ever have questions, please give us a call - we will be more than happy to try and give you some free advice. We have been in the business since the late 1990's and can probably point you in the right direction.

Why would we do this for free? Because GaraMark is committed to giving back to the community, and helping fellow landlords is part of this! In return, all we ask is that you spread the word about GaraMark and the services we offer!


Got questions? Email us at owners@garamark.net

GaraMark Property Management is located in Winnipeg, Manitoba and balances protecting the investment of an owner while retaining happy tenants.
www.garamarkpropertymanagement.ca

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Thursday, February 11, 2010

Now For RENT: Brand New Condo in the "SKY" Building Near the Forks!











Be the first to live in this brand new condominium located in the prestigious "SKY" condo project.
Located on the Red River, next to the Forks on Waterfront Drive, this condo boasts 1 bedroom + den layout (or essentially 2 usable bedrooms) and brand new stainless steel fridge, stove and dishwasher as well as in-suite laundry!

There is a private balcony with a view of the river, indoor underground parking and an amazing common area, complete with bar, entertainment area and big screen TV!
You can also book the optional boardroom, work out in the fitness facility, or relax in the games room.

And all of this for only $1295!

Call 204-415-6200 for more info or email us at tenants@garamark.net

Please refer to code 138 when inquiring.

Got questions? Email us at owners@garamark.net


GaraMark Property Management is located in Winnipeg, Manitoba and successfully balances protecting the investment of an owner while retaining happy tenants.











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Tuesday, February 9, 2010

Landlord Series - Notice of Termination (Part 3)

The Landlord Series are various tips to help the owner of a rental property become a better and more informed landlord.

In this series we explain the Notice of Termination (Part 3)

Today we are going to explain the Notice of Termination - Notice By A Landlord (Landlord needs rental unit for own use)

A landlord is allowed to give a tenant of Notice of Termination if:

  • the landlord is moving into the rental unit
  • certain members of the landlord's family are moving into the rental unit (i.e. spouse, adult children, parents, mother-in-law, father-in-law)
  • the landlord plans to tear down the unit
  • the landlord plans to renovate and it is not reasonable for the tenant to live in the unit while the work is done
  • the landlord plans to remove the rental unit from its present location (i.e. a trailer, etc. that is sold and moved to another place)
  • the landlord is going to use the rental unit for something other than a residential rental unit (i.e. the landlord converts the unit to commercial use instead of residential)

There are three VERY important rules when giving a tenant this type of notice:

(1) A landlord must give at least 3 months notice in writing

(2) If there are school-age children living in the unit, the landlord must allow the tenants to live in the unit until the end of the school year PROVIDED that the children go to a school that is close to the rental unit

(3) The landlord must pay for the tenant's reasonable moving expenses, up to a maximum of $350

Got questions? Email us at owners@garamark.net

GaraMark Property Management is located in Winnipeg, Manitoba and successfully balances protecting an owner's investment while retaining happy tenants.

www.garamarkpropertymanagement.ca

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Sunday, February 7, 2010

Landlord Series - Notice of Termination (Part 2)

The Landlord Series are various tips to help the owner of a rental property become a better and more informed landlord.

In this series we explain the Notice of Termination (Part 2).

Today we are going to explain the Notice of Termination for Non Payment Of Rent - probably the most common Notice of Termination that is served upon a tenant (commonly called an "eviction notice").

What is it? An Eviction Notice served on a tenant when they fail to pay their rent.
A landlord is entitled to give a Notice of Termination on the fifth day of a rental payment period.

For example: The rent is due on February 1st. If the tenant has not paid their rent on time, the landlord can served the eviction notice on February 5th.
When the landlord serves the notice to the tenant, they need to specify how long the tenant has to move out of the unit (the Residential Tenancies Act does not specify the length of time, but suggest to give enough time for a tenant to pack their belongings and arrange for a moving truck, etc.)

Important Notes: The Notice of Termination MUST contain the following information:

  • the address of the rental unit that the notice applies to:
  • the reason for giving notice
  • the amount of unpaid rent
  • the date the tenant is to move out
  • a statement that the tenant is entitled to disagree with or dispute the landlord's right to give notice
  • a statement that if the tenant pays the rent, they don't have to move unless the landlord states in writing that they still expect the tenant to go

If the tenant doesn't move out by the date in the notice, the landlord may then apply for an Order of Possession (to be explained in future Landlord Series)

Got questions? Email us at owners@garamark.net

GaraMark Property Management is located in Winnipeg, Manitoba and successfully balances protecting the investment of an owner while retaining happy tenants.

www.garamarkpropertymanagement.ca

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Thursday, February 4, 2010

Property Feature: 3 Bedroom House in St. Vital for Rent










3 Bedroom updated house near St. Vital shopping centre. Located on the quiet street of Ashworth, this house has a full finished basement with an extra office and a double detached garage!

As well, the 40 inch LCD TV in the living room is included in the rent!

This property will be available for March 1, 2010 but is available immediately for showings.

To see this property, please call our office at (204) 415-6200 and mention code 208!


Got questions? Email us at owners@garamark.net
GaraMark Property Management is located in Winnipeg, Manitoba and successfully balances protecting the investment of an owner while retaining happy tenants.
www.garamarkpropertymanagement.ca

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Tuesday, February 2, 2010

Landlord Series - Notice of Termination (Part 1)

The Landlord Series are various tips to help the owner of a rental property become a better and more informed landlord.

In this series we explain the Notice of Termination (Part 1).

A Notice of Termination, commonly called an Eviction Notice, is defined as "a written notice by a landlord to end a tenancy."
There are many reasons for serving a Notice of Termination, including the following:
  • Non payment of rent
  • by a Condominium Corporation
  • A caretaker/employee
  • Compensation for moving expenses
  • Landlord needing rental unit for own use
  • Landlord selling rental unit
  • Tenant not meeting obligation (other than non-payment of rent)
  • Notice by Mortagee
  • Notice by tenant - Fixed term tenancy agreement
  • Notice by tenant - month to month tenancy agreement
  • Notice by tenant - tenant accepted into personal care home
  • Notice by mobile home park owner for non-payment of municpal license fees or taxes

As you can see, there are many, many ways to terminate a lease. During future posts, we will outline each one to give landlords and tenants a better understanding of the processes in which a tenancy agreement can be terminated.

Got questions? Email us at owners@garamark.net

Garamark Property Management is located in Winnipeg, Manitoba and successfully balances protecting the investment of an owner while retaining happy tenants.

www.garamarkpropertymanagement.ca

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