I’m still waiting for 1 tenant in my almost sold 4plex in Winnipeg to get the f*ck out! It’s insane how many rights tenants have, compared to landlords. This person hasn’t paid rent in over 2 months so my property manager tried to kick her out, and when he tried to kick her out she called 911 and the Winnipeg police department has now placed a restraining order against him. How f*ucked up is that? The place is sold, I am just waiting for that b*tch to leave. Luckily the new owner is waiting patiently, while this gets resolved.
Next week my property manager and the ghetto tenant are going to rental arbitration, they will both state their case. Once they state their case, she will be out on her ass, for failure to pay rent. In the meantime she is costing me more money. I have to pay for arbitration and I may have to get the Sheriff department to physically remove her from the 4 plex.
That 4plex has been a nightmare right down to the last f*cking minute. But I still love real estate, go figure, lol. I still plan on buying condos this year, as soon as the check is in my hand from the sale of the Winnipeg 4plex then I will start looking here in Vancouver. You live and learn right? At least I take chances in life, it was a mistake but I learned from it and that’s the main thing. Bada Bing!
August 12th, 2008 at 11:31 pm
[...] finally! The psycho tenant from my Winnipeg 4plex is out tonight, just got the confirmation from realtor in Winnipeg! I am [...]
August 26th, 2008 at 3:31 am
I read your comments about Winnipeg. Interesting.. as I have rental property there. Not quite as deep into the north end as you were. Any chance that you would let me know who your mgmt co. was? I was just interested as you seem to have been less than happy with their service.
A piece of advice that you may want to heed in your future is to stay away from multi unit investments. These require hands on mgmt and have many personalities. I have owned two rental properties and have avoided the multi units or 3 bedroom units as you have too many tenants steering the ship and usually one of them is a pain in the butt. That’s my experience.
Cheers and best of luck with your future properties.
August 26th, 2008 at 4:51 am
Hi Derrin,
Thanks for commenting. The property management company I dealt with in Winnipeg was Lead Property Management. I sold both rental properties in Winnipeg and I don’t plan on purchasing anymore in that city. Winnipeg left a bad taste in my moth as you can understand.
September 25th, 2008 at 9:26 pm
[...] the price At least this way I can manage the properties myself and I know I will not run into the bullshit that the property manager in Winnipeg had me go [...]
December 8th, 2008 at 10:35 pm
any recommendations for a GOOD property manager
December 8th, 2008 at 11:25 pm
I am not sure, as I sold all my places in Winnipeg. All I know is that Lead Property was hard to get a hold of for months, then they hired someone to help with the phone calls. I can’t say many good things about Lead Property, and I don’t know of nay others as I don’t like in Winnipeg.
Here is a list of property managers in Winnipeg:
http://www.google.ca/search?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&hs=ygp&sa=X&oi=spell&resnum=0&ct=result&cd=1&q=property+managers+winnipeg&spell=1
December 9th, 2008 at 3:38 am
thanks for the feedback on lead and the list of property managers. best of luck in your next endeavours!
December 9th, 2008 at 2:48 pm
You’re very welcome. Be careful with who you chose, property management companies can make you or break you… Good luck!
December 21st, 2008 at 7:01 pm
I am the one who purchased 572/574 Magnus. I spent my money prudently getting it back in shape. It is fully rented now with responsible working class tenants which makes a huge differnce. It is the nicest property on the block and (touch wood) no vandalism or any other problems of that sort. I am a professonal engineer managing 16 rental properties (I own) with zero failure rate. If anyone needs a reliable property manager, contact me by leaving a message here.
December 21st, 2008 at 10:57 pm
Hello Mathew,
I am glad you got that place running smoothly, my property management company Lead Property had one excuse after another. For me it was a COMPLETE nightmare. I hated relying on property managers to run my revenue properties for me. I have 4 properties in Vancouver with no problems like the hell I went through with Lead Property. Either they are scammers or just lazy to find the right tenants, maybe both? Or I just have really bad luck.The end results, is I lost $50,000 from my properties in Winnipeg. I will only purchase properties in the Vancouver area and manage them myself. It sure isn’t rocket science to manage a property. I have no clue why Winnipeg was a nightmare for me. But whatever I have moved on and learned from that “experience”.
C.V.
December 24th, 2008 at 12:23 am
Hi C.V.
I think you got it right this time. It is pretty difficult to own rental properties so far away. It is a very smart move on your part to own property in the city you live in. I do the same. As you mentioned, it is not rocket science to manage property. Key to succees is upgraded electrical, plumbing and appliances plus well screened tenants. Then all what you got to do is to colect rents and pay bills. I wish you all the best with the new business strategy and I am confident you will succeed. Have a Merry Christmas and a Happy New Year!
- Mathew