Most financial institutions require 20% down payment for investment properties in order to finance the transaction. At this time, Hope Street does not facilitate rent-to-own or other unconventional transactions.

Property Management is an incredibly diverse profession. To do it well, you need to be part detective, part bookeeper, part handyman, tenancy law expert, part insurance expert, sometimes part therapist. Not only is it a lot of hats to wear, but you’re dealing with people, and their homes. A good professional Property Manager can provide a degree of separation that keeps the business of being a landlord a business.

There was a time when a few tools and a few handy skills were really all you needed to take care of a rental property. That has changed. Digital payments, complex insurance needs, and specialized trades contacts are just some of the tools needed to maximize rental potential.

The Hope Street team brings together all the skills, experience, and tools in one place, and balance accountability with respect and kindness.

Similar to how sales prices are determined, rental rates are a mix of data and live negotiating experience. Hope Street’s portfolio is large and diverse enough to give us the best data, and we are constantly negotiating leases and renewals with our tenants.

Tenancy laws differ from province to province, and the type of tenancy (fixed-term, month-to-month, or other) also affects the timeframe in which you can move into your purchased home. In a fixed term lease in both BC and Alberta, the tenant has the right to stay until the end of the fixed term; it does not matter when the possession / close date of the real estate sale is.

In other types of leases (month-to-month or other, and even for fixed term leases in BC), notice needs to be given in order to end the lease. In BC, notice can only be given after the purchase contract is unconditional. In Alberta, notice may be given prior to that, but the timeframe for the lease to terminate will depend on the type of lease it is.

Of course, under certain circumstances, the seller or buyer may want to approach the tenants and negotiate a different lease termination date. Although this is possible, there are no guarantees, and no obligations on the part of the tenant to enter into such discussions.

Hope Street’s licensed Property Managers can advise you based on the specifics of your circumstance, giving you the information to make an informed decision.