Aspen Woods Property Management

OWNER FREQUENTLY ASKED QUESTIONS

Transparency & Communication Are Key

• Is Citysearch Licensed?

  Citysearch is licensed as a brokerage with the Real Estate Council of Alberta (RECA).

• Can I reach Citysearch after hours?

  Yes, you can reach Citysearch at (403)777-1770. The Tenant Hotline is open 24/7/365 for tenant maintenance, both routine and emergency.

• Can you deposit monies into my account?

  Citysearch has EFT capabilities to make distributions to our client owners.

• Do I get to see the lease agreement?

  Yes, you can request to receive copies of lease agreements and renewals.

• Do you sell real estate as well?

  We work closely with the John Hripko Real Estate Team of Royal LePage Benchmark. The principal, John Hripko, who is the Citysearch broker’s husband, ranks in the top one percent in Canada and has achieved this ranking year after year, over the past twenty plus years.

• How is rent collection handled?

  Citysearch offers several means for a tenant to pay rent including e-transfers, post dated cheques, pre-authorized debit payments. Many of Citysearch’s corporate clients, the major employers will be invoiced collectively, and pay by direct wire deposit to the Citysearch trust bank account.

• How long of a lease do you sign?

  This depends on the owner-client preference. However, most tenancies are for a period of one year or longer. The corporate relocation tenants most often wish to align the tenancy term with the duration of the tenant’s work visa which is often 3-4 years.

• How much security deposit do you charge the tenant?

  Citysearch collects a security deposit which also is frequently referred to a damage deposit, equal to one month’s rent pursuant to the maximum amount allowable pursuant to the Residential Tenancies Act of Alberta.

• How soon can you start managing my property?

  Citysearch can typically commence the management within 48 hours of our initial consultation once an agency agreement is in place and title is confirmed.

• What types of properties do you manage?

  Citysearch manages condominiums, both apartment-style and townhouses, single family detached and duplex residential homes and apartment buildings.

• What type of reports do I get and how often?

  Citysearch offers several types of financial reports and these are available on the Owner Portal. Most owners prefer a cash flow statement monthly and one reflecting year end.

• Who holds the tenant’s security deposit?

  Citysearch holds all security deposits in a trust account on behalf of the tenant’s property pursuant to the Residential Tenancies Act of Alberta. The government of Alberta establishes the interest rate payable to the Tenant for the deposit monies.

• Do you provide nonresident administration?

  Yes, Citysearch provides full nonresident administration including monthly withholdings and remittances to the Canada Revenue Agency (CRA) as set out by the Government of Canada.

• Can I use your services if I already have an agent listing my home for sale?

  Citysearch Rental Network respects the Law of Agency and will work in alignment with your Realtor. If a Tenant is found before a Buyer is found, we recommend you simply have the property removed from the sales market. If your Realtor finds a Buyer before a Tenant is secured, then you simply send us a copy of your contract and you can terminate without paying the full contract termination penalty. We would be pleased to review the specifics.

• Do you have a pet or smoking policy for properties that you manage?

  It is recommended that a property owner be ‘pet friendly’ where possible. By not accepting pets, you may be seriously limiting the rental audience for your property. Our pet policy is as follows:

  • Three pet limit per household
  • Must comply with condominium bylaws, if applicable
  • Rental applicants with household pets or service/companion/assistive animals are required to submit a pet application and execute Citysearch’s comprehensive Pet Maintenance Agreement.
  • Smoking is NOT allowed at any of our managed properties

• How do I sign up for property management services?

  Get starting by Inquiring About Our Services

• How do you handle property maintenance?

  Citysearch uses third party vendors for maintenance and repairs. We have a 24/7/365 hotline for tenants to report routine and emergency maintenance. Every call is answered by a live agent.

• How do you screen and select rental applicants?

  Tenant applications are processed and several factors are considered including credit, employment, previous landlord references and more, which are all used to accept or decline prospective tenants.

• How do you show the properties you manage?

  We require all showings to be accompanied by a Citysearch agent. We collect particular information prior to scheduling viewings which is part of our internal procedures.

• How will you advertise my property?

  The vast majority of our tenant prospects are sourced via our vast corporate and global relocation networks. However, we also list the property and its features on our web site along with some online rental sites. We customize a marketing strategy for each property to best reach the target audience.

• I would like to manage my property myself. can you help me find a tenant?

  Citysearch does not offer or promote a “tenant procurement only’ service. It is our experience that the caliber of tenants Citysearch attracts are ones that require a property that is professionally managed. Ask us why… there are many reasons.

• Can we engage citysearch to manage my property, even if it is currently tenant occupied?

  Yes. We would be happy to discuss the next steps to facilitate managing your property.