Tips on Becoming a Landlord - Advice from a Calgary Property Manager

Are you thinking about purchasing an investment property or renting out your home? Before diving into the world of property management, it’s crucial to arm yourself with the right knowledge to protect your investment and maximize your return. As a Calgary-based property management brokerage, AspirePeak Properties has the experience and expertise to help you navigate the challenges of being a landlord.

Here are three essential tips to consider before renting out your property:

💡 Tip #1 – Thoroughly Screen Tenants

The saying "don’t judge a book by its cover" applies to tenants as well. A friendly demeanor doesn’t always translate to reliable rent payments. A thorough tenant screening process is your first line of defense against late payments and potential property damage.

Here’s what a good screening process should include:

• Application Questions: Don’t hesitate to ask detailed questions about employment, rental history, and references.

• Reference Checks: Always, Always, Call previous landlords and employers to verify the applicant’s history.

• Credit Checks: Use online platforms like Front Lobby or SingleKey to assess creditworthiness.

  
  

At AspirePeak Properties, we use SingleKey for tenant screening which has been integrated directly into our property management software, ensuring only qualified and reliable tenants are placed in your property. A robust screening process helps you avoid the “buddies” and secure long-term, stable tenants. Front Lobby gets used for all our collections and credit reporting.

💡 Tip #2 – Post Good Photos

First impressions matter, and your property photos can make or break your listing. High-quality images not only attract more potential tenants but also help your property stand out in a competitive rental market.

What makes a great property photo? Follow these simple guidelines:

• Turn all lights on and replace burnt-out bulbs.

• Keep toilet seats down and shower curtains neatly pulled across the tub.

• Hide cords, remotes, and clutter from countertops.

• Open blinds to let in natural light.

• Make the beds, tidy up toys, and straighten furniture.

• Ensure balconies, yards, or outdoor spaces are clean and inviting.

  
  

At AspirePeak Properties, we take this a step further with our Photo Ready Checklist. Our professional photography team captures a minimum of 30 photos per unit, creates floorplans with measurements, and provides 3D Virtual Tours. These tools not only enhance your listing but also help prospective tenants feel confident about renting your property—even if they’re relocating from another city or province.

💡 Tip #3 – Consider Hiring a Property Manager

Managing a rental property is no small task. From tenant screening and rent collection to maintenance and legal compliance, it can quickly become overwhelming—especially if you’re juggling other responsibilities.

Hiring a licensed property manager can save you time, reduce stress, and ensure your investment is professionally managed. In Alberta, property managers must be licensed through the Real Estate Council of Alberta (RECA), which provides a higher level of accountability and governance.

Most property management companies charge a monthly fee of 10%–15% of the collected rent. For example, if your rental income is $1,300 per month, you’d pay around $130 for a professional to handle everything—from tenant placement to maintenance coordination.

At AspirePeak Properties, our management fee on single units is 10% of gross monthly rent. With our team handling the day-to-day operations, you can focus on what matters most to you while we ensure your property remains profitable.

Why These Tips Matter from a Calgary Property Manager

Whether you’re a seasoned investor or a first-time landlord, these tips can help you avoid common pitfalls and set your property up for success. From finding reliable tenants to presenting your property in the best light and considering professional management, each step plays a vital role in maximizing your rental income and minimizing stress.

If you’re ready to take the next step, contact AspirePeak Properties today. Let us show you how we can make property management simple, efficient, and profitable for you.

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