780-974-3425
FREQUENTLY ASKED QUESTIONS
If you have any questions regarding a specific property, please feel free to get in touch with us directly!
HOW DO YOUR FEES WORK?
The typical contract involves a retainer, which is applied to the cost of placing a tenant, and then a fee based on a percentage of gross rents collected. For example, if you were interested in us managing a currently vacant property, we would take the property under management and move through the following steps:
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$250 - Retainer for Advertising
$400 - Placing Tenant (Retainer applied to placing tenant for a total of $650)
$150/month - If rent is $1500/month (10% management fee)
DO YOU CUSTOMIZE YOUR CONTRACTS?
Yes, we do! While our typical contract is outlined above, we also can take on the management responsibility of a currently occupied property, which would save you the lease-up fee.
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For some clients, the option that makes the most sense is monthly retainer, independent of rents collected. We operate as a first-call option, providing access to our team of contractors on a case-by-case basis for property maintenance. You continue managing the property yourself, and we can support you in everything from replacing a toilet to taking professional photos for advertising.
WHAT EXPERIENCE DOES ARDENT PROPERTY MANAGEMENT HAVE?
While Ardent was only begun in 2020, our team has been managing Edmonton properties since 2006! Richard and Justin have both been managing residential properties as well as supporting friends and family with their investment properties for years. Together, they decided that combining their skills in forming Ardent could be exactly what other landlords would find helpful!
IF MY PROPERTY IS VACANT, DO I STILL HAVE TO PAY YOU?
No! Aside from the $250 retainer, if your property isn't rented out, then we're not getting paid. We have every incentive to make sure you see no vacancies and that your rents are collected!
WHAT TYPES OF PROPERTIES CAN YOU MANAGE?
While our speciality is renting out single family homes, we also manage condos and duplexes. We currently have no multi-family or commercial buildings under contract, but we're open to creating services that fit them.
DO YOU DO LANDSCAPING, LAWN CARE, AND SNOW REMOVAL?
We can provide these additional services, though we typically encourage landlords to define these as tenant responsibilities in their leases. Of course, if a property is vacant or a tenant doesn't follow through, putting a plan in place becomes necessary!
WHAT DOES MY FEE COVER?
$250 Retainer Fee: This fee, due once a vacant property comes under management, includes a property inspection, professional photos, advertising, fielding calls from interested tenants, screening tenants, and showing the property.
$400 Lease-up: This fee (which makes a total of $650 to place a tenant) is due upon accepting a security deposit and first month's rent, signing a lease, and handing over keys.
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Monthly Management Fee: This fee includes providing an 24/7 emergency contact service, answering any tenant questions, and handling any issues or complaints.
HOW LONG DOES IT TAKE FOR YOU TO RESPOND TO CALLS/TEXTS/EMAIL?
Our policy is to respond to any non-emergency communication, be it a voicemail, text, or email, within one business day. For more pressing issues, like a sewer backup, furnace malfunction, or broken window, we respond immediately.
DO YOU COLLECT RENTS?
We can collect rents directly from your tenants. However, our advice to landlords is that they have their tenants e-Transfer them rent payments. We find this ensures complete transparency and allows landlords to stay informed about their investment property.
DOES ARDENT DO THE REPAIRS DIRECTLY?
Sometimes! For any larger repair or improvement, we go to market for a minimum of three quotes for the work. For work costing less than $150, or whatever amount you are comfortable with, we recommend granting Ardent the authorization to deal with the issue without needing pre-approval.
WHAT REPORTING DO I RECEIVE?
When a tenant moves into your property, you will receive a copy of the Lease Agreement, Inspection Report with pictures, and appropriate tenant identification.
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On a quarterly basis, you will receive a rental summary and any relevant recommendations concerning the property.
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Upon a tenant moving out, you will receive a copy of the Inspection Report, an itemized list of any damages, if any, and recommended repairs or improvements.
HOW INVOLVED DO I HAVE TO BE IN DECISION-MAKING?
As involved or uninvolved as you want to be! Some landlords appreciate having Ardent handle all aspects of property management, while others prefer to keep Ardent on retainer, having Ardent screen and place tenants, and Ardent recommend appropriate contractors from their team of qualified tradespeople.