The Randall North Difference
What Makes Randall North Truly Different Than the Competition?
We are focused on utilizing its property management expertise to help investors achieve their unique goals – short, mid and long term.
We will implement operating programs in the most cost effective manner available in the marketplace, while staying within the client’s budget. We know what repairs should cost and ensure that work is completed at the best value.
Increased Property Value
Only a well maintained property with professional management can achieve its highest potential, which means: higher rents, better quality tenants, less vacancies/turnovers and lower operating costs. The result: A higher property value.
No Hidden Profit Centres
We do not employ any of our own maintenance staff, meaning there are no hidden profit centres. Clients pay the exact cost of all work completed on their properties.
Maintaining low overhead is another way that we create value for our clients. For example, negotiating high volume of work for various properties within a market is a valuable benefit of working with Randall North – the cost savings are passed to our clients.
What You Can Expect from Randall North
For our competitive monthly fee, Randall North Real Estate Services will perform the following tasks (after client approval)
- Collect all rents and promptly deposit the same to trust account
- Strategize to attract quality tenants and keep the building to highest occupancy
- Screen all prospective tenants
- Market units for rent in the most effective ways possible
- Arrange and serve all tenant correspondence, including Tenancy Agreements and other notices
- Handle all tenant issues, including eviction and dispute resolution
- Be on call 24 hours a day, 7 days per week
- Communicate building concerns to the Client
- Tender/award service contracts
- Keep the property in good repair
- Arrange/coordinate repairs/maintenance to the building as needed and manage those costs
- Recommend capital upgrades and project work
- Provide Project Management services as agreed to
- Find cost savings and additional revenue streams whenever possible
- Prepare an annual inspection of every suite with report to the Client (properties 5+ units)
- Have professional, licensed management presence at the property
- Build relationships with key contractors towards better pricing and service
- Pay to Client the surplus funds by direct deposit
- Prepare an annual budget with owner approval (properties 5+ units)
- Scrutinize and pay all invoices monthly
- Provide advice on insurance for the right coverage at the best rate annually
- On a monthly basis, report all income and expenditures for the previous calendar month
Every month, Randall North will provide the Client for the preceding month:
- The Tenant List with security deposits paid
- Balance Sheet
- Income Statement for the month
- Income Statement year to date with budget for comparison
- Security Deposit Report for new payments received
- Cheque listing (all payments)
- Rent Roll showing rent in, arrears, for each unit
The budget process at Randall North is one that is undertaken with care. We review budgets to find all possible cost savings and additional revenue streams; in fact, we do this all year long.
Comprehensive Annual Inspections
In addition to regular inspections, every year for buildings with more than 6 units, Randall North will provide the property owner a detailed condition inspection report with photographs. The report covers the areas where the owner is typically concerned most. There is no additional charge for this – it is included in the Randall North monthly management fee.
Leasing and Tenant Placement Services
We can provide leasing services to market and lease-up vacant space. We have extensive experience with commercial lease negotiations, and are pleased to offer this additional service to clients with commercial property. Leasing fees for commercial properties are not included in the monthly Management Fee.
We require exclusive rights to market and place tenants in residential properties. Our diligent screening ensures we place only the best tenants within the market. We typically perform 2 reference checks and 1 proof of income/employment for residential tenants. The cost of tenant placement is identified in the Service Contract.
We are qualified and will take time to address sustainability when it comes to energy use, contracts and services at your property.
The Randall North Fee
Our fee is a percentage of the monthly rents collected. We want to show you how our fee contributes to your bottom line, and not as a cost. The fees offered for your property are identified in the Service Agreement provided to you.
About Randall North
Randall North Real Estate Services Inc. was founded in 2008 in Victoria, BC. We now have about 250 properties (900 units) under management with offices in Victoria, Prince Rupert, Terrace and Prince George. The Randall North team currently consists of 15 employees.
The founder and owner of Randall North Real Estate Services is Dale R. Schuss, who has been licensed per the Real Estate Services Act of BC for 26 years. He has licenses in rental property management, strata management, real estate sales and as a managing broker. Recently, Dale received his Sustainable Facility Professional (SFP) designation through Rice University in Houston, Texas. He also obtained the Real Property Administrator (RPA) designation in 2002 and has a Certificate in Business Administration from the University of Victoria. Dale is a past Director of the Real Estate Board of Greater Vancouver – Commercial Division, and a past Director of the Professional Association of Managing Agents.
Dale has built a solid team of professionals who work closely with their Clients to ensure expectations are always being met.
Randall North only succeeds when our Clients are happy with our services.
PROPERTY MANAGEMENT LIKE IT SHOULD BE.
Randall North Real Estate Services Inc. is licensed under the Real Estate Services Act of BC.