Wasim Elafech of Bravo Realty in Century 21, Calgary is among brokerage’s of top sales agents in world. Century 21 operates in around 78 countries over 100,000 agents, Elafech managed to become number in a unit producer in year 2015.
1. Property Maintenance
Elafech says that he has sold out properties to clients who rented them out, without putting necessary work. He also said that work that you execute doesn’t have to get to be expensive, but now this has to be a brand new. “This will be liveable but this won’t looks good. Floors will be peeling or cracked, and when people get walk in they get impression as rundown property. Make sure that all fixtures work, which they are not broken; just make sure that door handles are need or loose which need to get to be replaced.”
2. Bungalows yield the higher rents
Bungalows are perfect rental properties because the bottom and top can be rented out as the separate unit. However, lower and upper floors of a bungalow can be rented as separate units. “Bungalows are easiest homes to sell in the certain area because you can rent out the lower and upper levels, if it is treated properly.
3. Screening of tenants
Elafech said that screening of tenants which ensures rental investment that doesn’t become nightmare. He also said that they don’t want to lose out month on mortgage payment, so this has been sitting for couple of weeks they will rush in a deal and rent it out to whatever comes next.
4. Rent the garage and parking spot separately
Elafech mentioned that there is a rental property which he’s showing currently. “Owner is going to park on the parking pad of his trailer, this rent out garage and floors of bungalow separately i.e rental income from the garage, downstairs and upstairs.”
5. Location, location, location
Location in real estate is everything, there Elafech suggests to invest in property which i surrounded by amenities like schools and transit.“In Calgary, they have buses and LRTs. Even having schools and shopping centres are important and are nea. A client who own a condo with LRT across the street, and got more for this than a similar place. People pay for location for their convenience.”