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Blog, News

Vancouver Metro Area Multifamily Market Report – 1Q 2023

The multifamily market in Vancouver Metro Area experienced an extremely low vacancy rate of 0.9% in 2022, with some neighbourhoods nearing full occupancy. The record level of immigration underpinning rental demand, combined with rising borrowing costs and resident inflow, led to apartment demand surpassing inventory growth. This resulted in an 8.3% increase in the average effective rent compared to 2021 levels, the highest rate of increase since 1991. Despite the high debt burden of households weighing on the metro’s economy, Vancouver is on track to welcome a record number of immigrants in 2023, supporting the overall rental demand.

Graph 1: Completions and Vacancy Rate (2018-2023)

YearCompletionsVacancy Rate
20186,5001.6%
20197,2001.4%
20206,0001.2%
20216,6911.1%
20225,6910.9%
2023*8,3001.0%

*Forecast

Key Trends and Forecasts for 2023

  1. Employment: The high debt burden of households will cause local employment to slow, but increased immigration will likely prevent the job market from contracting. Approximately 1,500 jobs will be created in 2023.
  2. Construction: With a significant increase in rental apartment construction starts during the past two years, 8,300 units are expected to be completed in 2023. This is a 45% increase in new openings across the Greater Vancouver Area (GVA) compared to the previous year.
  3. Vacancy: The strong demand from immigration will balance out the increase in supply, causing the vacancy rate to stabilize below 1.0%. The city’s 3-3-3-1 initiative and the Broadway Plan may provide relief to the tight rental market in the coming years.
  4. Rent: The ultra-low vacancy rate in Vancouver indicates an extremely competitive apartment market, which will keep rents on an upward trajectory. The average effective rent is expected to reach approximately $1,785 per month, the highest monthly cost in Canada.

Average Effective Rent (2018-2023)

YearAverage Effective Rent
2018$1,550
2019$1,620
2020$1,665
2021$1,710
2022$1,785
2023*$1,850

*Forecast

2022 Overview

In 2022, 5,691 units were completed, a decrease of approximately 1,000 units due to rising building and financing costs. However, the Marpole, West Vancouver, and New Westminster submarkets experienced a significant increase in deliveries. The vacancy rate decreased by 30 basis points year-over-year, while the average effective rent increased by 8.3%.

Investment Highlights

In line with the national trend, high financing costs led to a contraction in investment activity across all deal sizes in 2022. However, investors expecting interest rates to stabilize resulted in sales activity rebounding in the fourth quarter. Vancouver’s average sale price rose by 8% to $408,000 per unit in 2022, surpassing Toronto as the second-priciest market. With the approval of the Broadway Plan, large-scale development is expected in the Broadway Corridor, including public transit and housing projects, office and retail additions, and a projected population growth outpacing the entire GVA.

Conclusion

The Vancouver Metro Area multifamily market will continue to face challenges from high demand and limited supply in 2023. The city’s 3-3-3-1 initiative, the Broadway Plan, and a record number of immigrants are expected to provide some relief to the tight rental market. Investors and developers should monitor these trends and opportunities closely to capitalize on the growing demand for rental housing in the region.

March 26, 2023/by admin_3p
https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png 0 0 admin_3p https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png admin_3p2023-03-26 13:55:002023-03-27 15:28:04Vancouver Metro Area Multifamily Market Report – 1Q 2023
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Success Story: Vancouver Property Management Firm Increases NOI by 30% in One Year

“Property management firm 3PM Real Estate Services Inc has achieved a 30% increase in rental revenue for its client’s Class C-D property at 8365 French Street in Vancouver, thanks to a successful upgrade to a Class B property. The firm increased monthly rental revenue from $0 to $7,453.41 in the first year of management, and by the end of 2021, the property’s rental revenue had reached $104,105.00 for the year. This impressive upgrade demonstrates the expertise of 3PM Real Estate Services Inc in property management and their commitment to providing outstanding service to clients.”

“In addition to the impressive increase in rental revenue, upgrading the property from Class C-D to Class B has resulted in a significant improvement in the property’s financial performance. The net operating income (NOI) has increased from $34,924.18 in 2020 to $59,767.45 in 2021, leading to a positive impact on cash flow before taxes, which improved from a negative cash flow of -$104,207.44 in 2020 to -$79,364.17 in 2021. The cash-on-cash return (COCCR) also improved from -36.6% in 2020 to -28.7% in 2021, indicating better performance and generating more cash flow relative to the amount of capital invested.”

Here’s a side by side comparison of the NOI and cash-on-cash return for the property at 8365 French Street in Vancouver, before and after the upgrade from Class C-D to Class B:

2020 (Class C-D)2021 (Class B)
Gross Rental Revenue$72,557.41$104,105.00
Vacancy & Credit Loss (5%)-$3,627.87-$5,205.25
Effective Rental Revenue$68,929.54$98,899.75
Operating Expenses-$34,005.36-$39,132.30
Net Operating Income (NOI)$34,924.18$59,767.45

The upgrade from Class C-D to Class B has proven to be a smart investment decision, resulting in a significant increase in rental revenue and a better financial performance for the property. 3PM Real Estate Services Inc has demonstrated their ability to create value for their clients and achieve success in the Vancouver real estate market. If you need help managing your portfolio, contact 3PM Real Estate Services Inc today to achieve your real estate goals.

March 25, 2023/by Jimmy Ng
https://www.3pmbc.com/wp-content/uploads/2020/12/french-e1679945992393.jpg 1686 1844 Jimmy Ng https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png Jimmy Ng2023-03-25 12:23:002023-03-27 15:38:25Success Story: Vancouver Property Management Firm Increases NOI by 30% in One Year
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Partner with 3PM

PROPERTY MANAGEMENT REFERRAL PROGRAM

Our Property Management Referral Program is designed to reward you for referring your clients to our property management services. By allowing 3PM to handle the property management aspect for your clients, you will be able to maintain your working relationship and we promise to send your clients back to you for future potential sales.

We know that it’s not easy to deal with the risks that come with managing properties when your main focus is on sales. Especially when the real estate market takes a hit, you might come across listings that are hard to sell. That’s why we get why it’s crucial for you to have a backup plan in place for your clients, like renting out the property until the market picks up again and it becomes easier to sell.

By working with our team, you can avoid the potential accounting risks from property management and focus on what you do best – sales.

Every property management contract signed through our program will pay commission equivalent to 15% of the management fee for 1 year, and we will provide a monthly statement of account of the commissions payable under this program. If you are interested in this program, please email for a copy of the agreement.

In addition to our referral program, we are also interested in expanding our services by acquiring new property management portfolios. If you are aware of any property managers or management companies looking to sell their management portfolio or collaborate with us, we would be happy to discuss specific payout options depending on the size of the portfolio.

We believe that our referral program can establish a mutually beneficial business relationship, and as a gesture of appreciation for your time, we would like to offer you a coffee and speak in person about other ways where we can collaborate. Feel free to contact us today at (778) 318 2624 or email jaycai@3pmbc.com to set up a meeting.

Thank you for considering our Property Management Referral Program. We look forward to hear from you!

March 16, 2023/by Jimmy Ng
https://www.3pmbc.com/wp-content/uploads/2023/03/pexels-fauxels-3184418-scaled.jpg 1707 2560 Jimmy Ng https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png Jimmy Ng2023-03-16 12:12:002023-03-17 02:08:04Partner with 3PM
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The Winning Formula: How a Brokerage Can Help You Scale Your Property Management’s Portfolio

Managing a property can be a difficult task. It involves taking care of the property’s physical, financial and legal aspects. A property manager is responsible for everything from finding tenants, to handling repairs, collecting rent and dealing with legal issues. Though working in property management can have its advantages, it’s also a tough job that requires specific skills and knowledge.

What is a Property Manager and their Role?

A property manager is a professional who handles the day-to-day operations of a property. Their duties include finding and screening tenants, collecting rent, maintaining the property, and ensuring compliance with legal regulations. To be successful, property managers must have a deep understanding of the local rental market and the legal requirements of owning and managing a rental property.

Effective property managers are highly organized and possess strong communication and interpersonal skills. They must be able to work with tenants, contractors, and property owners to ensure that everything runs smoothly. Additionally, property managers must have a thorough understanding of the landlord-tenant laws in the area they manage. This includes interpreting and complying with relevant regulations and laws.

Moreover, property managers must have an in-depth understanding of the local real estate market. They must know how to price rentals competitively to attract tenants and stay up to date with any shifts in the market. By doing so, they can effectively manage the property and ensure that it remains profitable for the property owner.

Benefits of Working with a Brokerage

Working with a brokerage can be highly advantageous for property managers. Brokerages are companies that specialize in real estate transactions, and they can offer a range of valuable services to property managers. These include marketing and advertising, tenant screening, maintenance and repair, cash flow management, and legal compliance support.

By partnering with a brokerage, property managers can benefit from the expertise of a team of professionals who can help them manage their portfolios more effectively and efficiently. Brokerages can assist with everything from finding tenants to collecting rent and managing repairs. They can also help property managers stay up to date with the legal requirements associated with owning and managing a rental property.

What Services Does a Brokerage Offer?

A good brokerage company can offer a range of services to property managers that can make their jobs easier and more efficient. For example, marketing is a key service that can help property managers reach a larger audience and attract the right tenants for their properties.

Tenant screening is also crucial, and a brokerage can assist with thorough screening to ensure the right tenants are selected, reducing the risk of issues down the line.

Maintenance and repair services are important for keeping properties in good condition, and a brokerage can offer a concierge service, call center, and customer support to help with this. They also use inspection tools and systems to keep property information updated in real time, giving rental owners peace of mind that their investment is being well maintained.

A brokerage’s accounting department can provide cash flow management services, helping property managers to manage their income and expenses effectively to maximize profits and minimize losses.

A brokerage with a compliance officer can ensure that property managers comply with legal requirements such as zoning regulations and landlord-tenant laws, avoiding any legal issues. Overall, a good brokerage can be an invaluable partner for property managers, helping them to run their business more smoothly and successfully.

Grow Your Portfolio with a Brokerage

If you’re a property manager looking to grow your portfolio, working with a brokerage can be a great way to do it. They can offer a range of helpful services to help you manage your properties more efficiently and effectively.

One of the key services a brokerage can provide is marketing. They can help you promote your key performance indicators (KPIs) through a variety of marketing and advertising channels, which can help you find more potential tenants for your properties.

Another valuable service is team building and training. A brokerage can help you build a stronger team by hiring assistants and maximizing the potential of your existing team. They can also provide training to help your team reach their goals and work more effectively together.

Cash flow management is another important service a brokerage can offer. They can help you manage your rental income and expenses, which can help you maximize profits and minimize losses.

A brokerage can help you stay on top of your legal obligations as a property manager. This can include ensuring compliance with local laws and regulations, and providing guidance on any legal issues that may arise. This can help protect your investment and give you peace of mind knowing that everything is being taken care of properly.

Developing a Property Management Business Plan

A good brokerage will not only provide services to help manage properties effectively, but will also help identify and develop a property management business plan. This includes conducting a market analysis to understand the local real estate market and creating a financial plan to outline the budget for running the property management business. The financial plan should include expenses for marketing, tenant screening, maintenance and repair, and legal compliance.

Having a solid business plan is crucial for growing a portfolio as it can help property managers make informed decisions about investing in new properties and expanding their portfolio. With the help of a brokerage, property managers can create a plan that takes into account their unique goals and circumstances, and provides a roadmap for achieving success.

The Future of Property Management

The future of property management looks bright, which is excellent news for those in the industry. As the demand for rental properties grows, so does the need for property managers. This means there are plenty of opportunities for property managers to grow their businesses and manage more properties.

Technology is also changing the way property managers work. With new tools and software available, property managers can now work more efficiently and effectively from anywhere. This helps them reduce stress and manage their time better, providing a better work-life balance.

Additionally, tenants and landlords now have higher expectations for their rental experiences. They want properties that are well-maintained and provide excellent customer service. To be successful, property managers must be able to meet these expectations and offer the necessary support and services to their clients. Ultimately, when property managers succeed, everyone wins.

February 27, 2023/by admin_3p
https://www.3pmbc.com/wp-content/uploads/2023/02/pexels-fauxels-3184465-scaled.jpg 1707 2560 admin_3p https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png admin_3p2023-02-27 15:28:352023-03-04 00:38:35The Winning Formula: How a Brokerage Can Help You Scale Your Property Management’s Portfolio
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Non Strata VS Strata

Investing in real estate can be a lucrative endeavor, but it is important to select the correct kind of property for maximum success. A non-strata multifamily property is a suitable investment selection that possesses numerous advantages compared to strata properties. In this article, we will look at why non-strata multifamily properties can be more beneficial than strata properties.

What is a Non-Strata Multifamily Property?

A non-strata multifamily property is a form of investment property that consists of many units or apartments, and each unit is owned by the same individual. Non-strata properties differ from strata properties, which are similar to condominiums, where each unit is owned by a different person, and common spaces are managed and owned by a strata council.

Why Non-Strata Multifamily Properties are More Profitable

1. More Management of Rental Income

Non-strata multifamily properties provide more control over rental income as the property owner has complete control over the rents and who they rent to. This allows the owner to maximize their rental income by setting competitive rates and selecting tenants that are reliable and have a higher likelihood of paying rent on time.

2. Lower Operating Expenses

In comparison to strata properties, non-strata multifamily properties have cheaper operating expenses. With a non-strata property, the owner takes on the responsibility of upkeep and repair costs, while in a strata property these would be split among the various owners, which could result in higher monthly fees that cut into the investment’s profitability.

3. More Accessible Lending

For the most part, it is more convenient to finance a non-strata multifamily property than a strata property. Non-strata properties are usually seen as commercial properties, allowing them to be funded with commercial loans that come with better terms and lower interest rates. Strata properties, on the other hand, are normally viewed as residential properties and thus strict lending requirements are imposed.

4. Lower Administrative Workload

Non-strata multifamily properties provide less of an administrative burden for property owners than strata properties. In a strata property, the owner must interact with the strata council, which can be time-consuming and demanding. Whereas, in a non-strata property, the owner has full authority over the property, with no strata council to deal with.

Challenges and Solutions

In spite of the positive aspects of non-strata multifamily properties, investors are still faced with particular challenges in order to make their investments profitable. One of the biggest difficulties is managing the property’s cash flow, ensuring that enough funds are available to take care of operating costs, mortgage payments, and other costs.

To address this difficulty, investors can apply revenue management techniques to enhance rental revenue and reduce vacant spaces. Revenue management involves setting rental costs according to market demand and the property’s special characteristics, such as location, facilities, and unit size. By utilizing data analytics and market trends, investors can adjust rental fees instantly, which can help to generate income and maximize gains.

To sum up, non-strata multifamily properties can be more lucrative than strata properties due to more control over rental income, lower operating expenses, simpler financing, and less administrative effort. While investing in non-strata properties has its own set of challenges, revenue management strategies can help to enhance rental revenue and make the investment more profitable. As with any form of investment, it is essential to conduct comprehensive research and due diligence prior to making an investment decision.

February 27, 2023/by admin_3p
https://www.3pmbc.com/wp-content/uploads/2021/06/iStock-1165384568-scaled.jpg 1600 2560 admin_3p https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png admin_3p2023-02-27 03:30:002023-03-04 00:39:35Non Strata VS Strata
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Unlocking Professional Rental Income Investment: What We Mean By “Professional Managed”

Hey there! Are you in search of a reliable source of steady income from your rental investments? If that’s the case, you should definitely consider the benefits of professional managed rental income investment. This investment option involves hiring experts to manage your rental properties, which can help you maximize your return on investment (ROI). But what does “professional managed” actually mean? In this article, we’ll delve into the meaning of professional management, the various benefits it brings, and how you can get started with professional managed rental income investment.

What Do We Mean by Professional Managed Rental Income Investment?

Professional managed rental income investment is a type of real estate investment where the investor is able to choose a professional manager to manage their rental property. This allows the investor to have a hands-off approach to the rental and to receive a steady income from the rental property without having to manage it themselves. Professional managed rental income investment can be especially beneficial for investors who lack the time or resources to manage a rental property on their own.

What Does Professional Management Mean?

Professional management of rental properties involves a number of different activities and services. These services include RTB Expert Leasing, property management services, property administration services, an operation team, a CPA-licensed accounting team, and residential tenancy branch compliance.

RTB Expert Leasing

RTB Expert Leasing is a service that helps landlords find qualified tenants for their rental properties. This service includes marketing, communicating with potential tenants, pre-screening, credit checks, lease agreements, and moving procedures.

Property Management Services

Property management services are provided to help landlords manage their rental properties. These services include tenant relationships, vendor relationships, lease administration, legalities, accounting, taxes, and the leasing process.

Property Administration Services

Property administration services are provided to help landlords with the administration of their rental properties. These services include maintenance requests, inspections, delivery operations, tenant relationships, vendor relationships, periodic reporting, and more.

Operation Team

The Operation Team is responsible for ensuring that all property management and administration services are carried out correctly. This team is responsible for monitoring and managing the performance of property management and administration services.

CPA Licensed Accounting Team

The CPA Licensed Accounting Team is responsible for providing financial services for rental property owners. This team is responsible for managing accounting, tax filing, and financial reporting for rental property owners.

Residential Tenancy Branch Compliance

The Residential Tenancy Branch (RTB) Compliance team is responsible for ensuring that rental property owners comply with the RTB regulations and laws. This team is responsible for providing advice and assistance to rental property owners in order to ensure compliance with the RTB regulations.

The Benefits of Professional Management

There are many benefits to professional management of rental properties. Professional management can help to reduce the amount of time and effort that landlords need to spend managing their rental properties. Professional management can also help to ensure that rental properties are managed in a legal and compliant manner. Professional management can also help to maximize rental income and increase the value of rental properties.

Professional management also helps to ensure that rental properties are well maintained and that tenants are happy. Professional management can help to ensure that tenants receive prompt and professional service and that their maintenance requests are dealt with in a timely manner. Professional management can also help to ensure that rental properties are well maintained and that tenant relationships are managed in a professional manner.

RTB Expert Leasing

Rental income investment can be a great way to make a steady income from rental properties. RTB Expert Leasing is a service that helps landlords find qualified tenants for their rental properties. This service includes marketing, communicating with potential tenants, pre-screening, credit checks, lease agreements, and moving procedures.

RTB Expert Leasing also helps to ensure that rental properties are managed in a legal and compliant manner. This service ensures that landlords comply with all Residential Tenancy Branch regulations and laws. This service also helps to ensure that tenants are happy with the rental property and that they receive prompt and professional service.

Property Management Services

Property management services are provided to help landlords manage their rental properties. These services include tenant relationships, vendor relationships, lease administration, legalities, accounting, taxes, and the leasing process.

Property management services help to ensure that rental properties are managed efficiently and that tenants are happy with the rental property. This service also helps to ensure that rental properties are well maintained and that maintenance requests are handled in a timely manner. Property management services also help to ensure that rental properties are managed in a legal and compliant manner.

Property Administration Services

Property administration services are provided to help landlords with the administration of their rental properties. These services include maintenance requests, inspections, delivery operations, tenant relationships, vendor relationships, periodic reporting, and more.

Property administration services help to ensure that rental properties are managed efficiently and that tenants are happy with the rental property. This service also helps to ensure that rental properties are well maintained and that maintenance requests are handled in a timely manner. Property administration services also help to ensure that rental properties are managed in a legal and compliant manner.

Operation Team

The Operation Team is responsible for ensuring that all property management and administration services are carried out correctly. This team is responsible for monitoring and managing the performance of property management and administration services. The Operation Team also ensures that all services are provided in a legal and compliant manner.

The Operation Team is responsible for providing advice and assistance to landlords in order to ensure compliance with the Residential Tenancy Branch regulations. This team is also responsible for ensuring that landlords receive prompt and professional service from all property management and administration services.

CPA Licensed Accounting Team

The CPA Licensed Accounting Team is responsible for providing financial services for rental property owners. This team is responsible for managing accounting, tax filing, and financial reporting for rental property owners.

The CPA Licensed Accounting Team helps to ensure that landlords receive prompt and professional financial services. This team also helps to ensure that rental properties are managed in a legal and compliant manner. The CPA Licensed Accounting Team is also responsible for providing advice and assistance to landlords in order to ensure compliance with the Residential Tenancy Branch regulations.

Residential Tenancy Branch Compliance

The Residential Tenancy Branch (RTB) Compliance team is responsible for ensuring that rental property owners comply with the RTB regulations and laws. This team is responsible for providing advice and assistance to rental property owners in order to ensure compliance with the RTB regulations.

The RTB Compliance team helps to ensure that rental properties are managed in a legal and compliant manner. This team is also responsible for providing advice and assistance to landlords in order to ensure compliance with the Residential Tenancy Branch regulations.

Conclusion

Professional managed rental income investment is a type of real estate investment where the investor is able to choose a professional manager to manage their rental property. This allows the investor to have a hands-off approach to the rental and to receive a steady income from the rental property without having to manage it themselves. Professional managed rental income investment can be especially beneficial for investors who lack the time or resources to manage a rental property on their own.

Professional management of rental properties involves a number of different activities and services, such as RTB Expert Leasing, property management services, property administration services, an operation team, a CPA-licensed accounting team, and residential tenancy branch compliance. Professional management can help to maximize rental income and increase the value of rental properties, as well as ensure that rental properties are managed in a legal and compliant manner.

If you’re looking to make a steady income from rental investments, professional managed rental income investment may be the perfect option for you. With the help of professional management, you can rest assured that your rental properties are being managed in the most efficient and effective manner and that you are maximizing your return on investment.

February 26, 2023/by Jimmy Ng
https://www.3pmbc.com/wp-content/uploads/2021/06/scott-graham-5fNmWej4tAA-unsplash-scaled.jpg 1709 2560 Jimmy Ng https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png Jimmy Ng2023-02-26 11:32:002023-03-04 00:41:02Unlocking Professional Rental Income Investment: What We Mean By “Professional Managed”
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Embracing collaboration between realtors and property management companies unlocks new opportunities for growth, client retention, and increased sales

The Advantages Realtors Gain from Collaborating with Property Management Companies

At first glance, it may appear that a partnership between realtors and rental property managers could be problematic. However, numerous advantages emerge for both sides when realtors join forces with property management companies. By working with a property management company, you can expand your realtor business. If you’re searching for innovative ways to maintain client relationships and boost sales, read on.

“Property management companies provide a valuable lifeline in challenging markets, helping realtors retain clients and weather financial storms.”

Bridging the Gap with Property Management Companies

In the real estate world, a thriving market means a flourishing business. However, when the market struggles, your realtor business likely suffers as well. It can often feel like a roller coaster of highs and lows. When a house fails to sell, you lose not only a client but also income.

Imagine if there was a solution to retain your clients, even when their properties don’t sell, and simultaneously minimize the financial burden during slow sales periods. This is where property management companies step in to bridge the gap for both you and your clients.

The Power of a Realtor Partnership Program

When a property remains on the market for an extended period or refuses to sell despite your best efforts, a partnership with a property management company can provide a valuable solution for your clients.

Picture a real estate agent sitting disheartened outside a house with a for-sale sign, pondering whether the home needs repairs, is overpriced, or if the clients have set their expectations too high.

Instead of losing the sale and the clients, embrace the opportunity to collaborate with a property management company, turning the house into a rental property. With the Realtor Referral Program, you don’t have to worry about losing the sale or the client. This partnership works in favor of both you and your clients. 

“Embracing a partnership with a property management company opens doors to new possibilities, turning challenges into income opportunities and ensuring clients return to you when they’re ready to sell.”

The Magic Behind a Realtor and Property Management Partnership
When your clients have a house that’s difficult to sell due to a challenging market or needed repairs, partnering with a property management company can be a game-changer.

As a realtor, you may also collaborate with real estate investors who need property management services for their rental properties. By offering a comprehensive solution that includes both purchasing and managing properties, you can expand your business.

Introducing your clients to a property management company can turn their unsellable home into a desirable rental, generating income for them in the process. The property management partner takes care of setting the optimal rental price, handling inspections, maintenance, and necessary repairs. This allows your clients to benefit from their property while giving the sales market a breather, letting the home build equity, and waiting for better selling conditions. Eventually, when the time is right, your clients will return to you, ready to sell.

The Realtor Referral Program: Ensuring Realtor Success

As a realtor, the Realtor Referral Program benefits you in two significant ways:

  1. Referral bonus: By introducing your clients to the property management company, you earn a referral bonus once their home secures its first tenant. This guaranteed fee serves as a token of gratitude for your referral.
  2. Client retention: The program provides a temporary solution that bridges the gap between renting and selling, ensuring your clients return to you when they’re ready to sell their property. By offering this service, you maintain a strong relationship with your clients and support their needs during uncertain market conditions.

Boost Your Business with the Realtor Referral Program

Retain more clients and enjoy additional earnings through partnering with a rental property management company like 3PM Real Estate Services Inc. Our comprehensive property management services assist your clients during challenging times when their home sale stalls. From rental pricing to tenant sourcing and rent collection, we’ve got it covered.

As a realtor, incorporating this partnership into your offerings sets you apart from competitors, providing a seamless and worry-free solution for you and your clients.

Discover more and join our Realtor Referral Program by clicking the link below!

https://www.3pmbc.com/category/blog/

February 25, 2022/by admin_3p
https://www.3pmbc.com/wp-content/uploads/2021/01/Picture1.jpg 416 624 admin_3p https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png admin_3p2022-02-25 13:19:002023-03-27 15:47:23Embracing collaboration between realtors and property management companies unlocks new opportunities for growth, client retention, and increased sales
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Designing a Home Office

Home office design ideas can be useful and effective. Undoubtedly, your work in a pleasant and full of energy environment is more productive than a boring and dull environment. You may never have thought about this, but such environments can be the main reason for the decline in the quality of work. Designing and executing a workbook can be challenging, as it requires a precise balance between appearance and performance. However, this does not mean that you need special conditions and a lot of time. What you need for interior design of your office inside the building is to use a set of suggested methods in this field.

Use your favorite space in the home environment: In the beginning, you do not need to use the largest room in the house to design and execute a home office. Your work environment can be the smallest room in the house. What you need is a quiet and beautiful space decorated with a number of your favorite items.

Use the psychology of colors: The important thing about colors is not just aesthetics. Each color has a special feature and creates a different feeling in people. You need to pay special attention to this point when designing the work environment. Use the orange and red color spectrums if your work requires creativity. In addition, these colors create a positive feeling in you and keep your energy level as high as possible. Yellow, on the other hand, is effective in creating mental focus. This is why this color is welcomed in office design because yellow is usually associated with new knowledge and ideas. Another color that we suggest you to use is turquoise blue, which is known as a symbol of cleanliness, order, and calmness.

Use of colored decorative accessories: The office should not be a boring environment. In fact, using tools that are vibrant in color and do not interfere with your work can be inspiring. These include color pens, an impressive work of art, and more.

Proper lighting, lighting, and weather: Do not expect a boring and boring environment to inspire you and give you a sense of vitality. Your workplace should be bright, with plenty of natural and artificial light, and adequate air circulation. If this is possible for you, choose a room with a large window for your workplace and place your desk and chair in front of it. The window is not just a source of light but also creates a sense of calm and vitality. In addition, you can use the appropriate curtains to protect your privacy. The important thing to remember is to use a proper reading lamp. In addition to damaging the eyes, a dark work environment can also cause confusion. Therefore, proper lighting is one of the priorities of office design.

Applying artistic taste: Office space is a good place to use artistic taste in its design. In designing such an atmosphere, you can act completely freely. The use of neutral and matte colors is the best option for the main elements such as tables, chairs, and shelves. In addition, you can use your favorite decorative accessories and works of art. The main thing about art tools is their charm, so it is recommended that you use these tools in all parts of the room. Using a table with a simple design will help you complete the design of the space.

Choose the right design for the walls: You may have no idea how to design a wall, but choosing the right design is not a complicated task. Consider the wall in front of your desk: How can you best design it? We suggest you use inspirational designs! This design can be a work of art, a family photo, a beautiful design, an attractive wallpaper, or a list of your favorite works.

Choose the right table and chair: Using the right desk and chair is very effective in improving the work process. Try to use their best items. The variety of designs and prices of office desks and chairs is very high and it is possible for you to prepare a suitable desk and chair according to your budget and taste.

Consider the vitality of the space: Think of tools that can inspire you. If you need constant creativity to do your job, you should use your favorite tools in the room. Using a family photo or even a souvenir that you are interested in or using houseplants can be among these devices. At first glance, this may seem like a distraction, but it really isn’t, and using it can improve performance.

January 28, 2021/by Cassandra Isaacie
https://www.3pmbc.com/wp-content/uploads/2021/01/iStock-1257975650.jpg 782 1341 Cassandra Isaacie https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png Cassandra Isaacie2021-01-28 15:46:462021-01-28 15:46:47Designing a Home Office
Blog, News

Making the Most Out of Small Spaces

If you want to make the most of your small home space, you need to know the tips for buying and, of course, arranging the furniture. Tips that make your small house warm and lovely.

With the ideas that we will present in the continuation of this article, you can get a much better experience of home decoration. Even if you have different rooms in the house, and you have enough space to store different furniture and appliances in the house, you can read these tips and keep the home environment much tidier than it is.

Circular tables: If you are looking to buy living room or dining room tables, try using round tables. These types of tables, due to their rounded edges, can give you more space around the room. The circular shape of this type of table gives you better access and since the base of this type of table is usually located in the middle of them, it covers less space on the floor of the room. Also, with the use of round tables, more people can sit around it and are suitable for entertaining, playing games, and sitting together. If you still prefer to use cubic tables, it is better to use tables that have shelves or drawers around them and accommodate some of the small and large items in the room.

Use spaces out of reach: The hidden spaces above the doors of the rooms, and above the kitchen cabinets, are a good environment for installing shelves, cupboards and different floors. The use of open shelves in the rooms will be very practical and stylish and can be used as libraries from floor to ceiling, to place books, decorative items and collectibles.
Also, if you want to divide the space of the room into two separate parts, and on one side of it to create more privacy for yourself, you can use bookshelves and thus benefit from their dual use. In this way, in addition to placing a large amount of books and items on these shelves, you can also divide the room into separate sections.

Dual use: It is much better if you can dual use some of the space and equipment used in the room. For example, if you need more bedrooms in the house, instead of using bulky, large, ugly, and uncomfortable sofas, use comfortable sofas and turn the living room into a comfortable environment for guests so that sometimes It is necessary for them to be able to rest on them as well. Also, if part of the floor of the house is unused, you can use its space to place a washing machine and install a small toilet; Or place a small desk next to the washing machine for yourself or your children. Each part of the house can have such simple but multiple uses that you can choose intelligently.

Pay more attention to the walls: Set aside bedside tables, or any type of table that is placed next to the walls and, without useful utility, simply becomes a place for stacking items and cluttering the room. Use wall lights instead of table lamps. You can also place small ledges next to your bed on the wall, and place small electronics or other accessories on them so you do not need cumbersome tables. As much as you can, replace shelves and wall cupboards with large room furniture. Also, install a mirror of suitable size on the wall of the room to make it look bigger. These mirrors also make you have a brighter environment by reflecting light in the room. So even if you do not have enough space to install a mirror in the room, you can install them on the surface of the console, bookshelf, or cupboards and enjoy the benefits they bring you.

Large furniture: While emphasizing the small size of the house, we offer tips to make them look bigger, but the use of large appliances and furniture can also greatly help to make the best use of the limited environment of the rooms. For example, instead of using a large number of small single sofas, you can use a one-piece sofa with a suitable design for your room. In this way, the space of the room will be shown more regularly and unnecessary crowding of the space will be prevented by small and numerous sofas and chairs.

The importance of colors The small rooms of the house should convey a sense of comfort and tranquility to its occupants in a perfectly appropriate way and by using soft colors. Try to use a specific color spectrum for different rooms of the house to maintain color integrity in the small environment of the house. For example, you can use colors close to white for all walls, ceilings, and floors of the house and avoid unnecessary color variation in different parts of the house. Window and curtain coverings should be bright and vibrant colors and as simple as possible without complicated designs and patterns. It is also better that these curtains have colors as close as possible to the color spectrum of the walls. Remember that color cohesion and integrity in homes and small environments is a binding and vital principle in decoration.

Discard unnecessary items: Needless to say, small spaces should always be tidy and away from clutter. So try to keep any equipment you need and immediately put away any unused equipment. This is one of the most challenging issues we face in small homes with limited rooms. To solve this issue, always remember the 90-90 rule. According to this law, if you have not used household items for 90 days, and you guess that you will not need them in the next 90 days, be sure to leave these items and take them out of the house. It is true that I may use many of these devices at specific times and on a seasonal and occasional basis, with all these aspects in mind, keep this rule in mind. In this way, despite all the hardships and difficulties of getting rid of some furniture and furnishings, you can remove them from the limited space of the house and better maintain the layout and order of your living environment.

Knowing how to arrange furniture properly not only makes you feel comfortable, but can also make your home look bigger and help you fit more items into that cramped space.

January 20, 2021/by Cassandra Isaacie
https://www.3pmbc.com/wp-content/uploads/2021/01/iStock-1181593567.jpg 1414 2121 Cassandra Isaacie https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png Cassandra Isaacie2021-01-20 14:27:242021-01-20 14:27:24Making the Most Out of Small Spaces
Blog, News

6 Features of Luxury Homes

Have you ever wondered what a luxury house or apartment is? Or what features and facilities should homes have in order to be able to call them luxury?

Perhaps the answer to many of these questions is a very large house with a luxurious and extremely beautiful view. But you should know that these houses are not limited to these two features and many other features also play a role in their luxury.

The highest quality furniture, appliances, and materials are used in luxury homes: The first common feature that luxury homes have is the use of branded and quality furniture in their interior decoration. Note that in such houses, from the smallest device such as switches and sockets to the largest furniture such as sofas, all are produced by the best factories and companies that give a luxurious look to their interior space. Of course, in these houses, branding and high quality are not limited to furniture and their building materials have such characteristics. the flooring of these luxury apartments is made of quality and beautiful materials such as marble or hardwood.

Luxury houses have facilities and sections that ordinary houses do not have: Another important feature that luxury homes have are the facilities and sections that most ordinary homes do not have.

  • Distinctive features and facilities of luxurious kitchens: Note that the features that distinguish the luxury home kitchen from the ordinary are the use of island cabinets and kitchen load in them. As you can see in the photos below, the large area of ​​these kitchens allows you to use these two elements in them.
    Of course, it goes without saying that the cabinets of these houses also have special facilities and accessories that make the arrangement and access to the equipment in them very simple.
  • Features and facilities of luxury baths: These houses have very large bathrooms with full facilities.
  • Dressing room: The dressing room is one of the luxurious parts of the house that does not exist in ordinary houses. In fact, this room is an enlarged type of wall cupboard where you can walk and choose clothes arranged in glass showcases and cupboards.

    These houses are equipped with smart technologies: The third common feature of luxury homes is the use of smart technologies to remotely control things. In fact, with the help of this system that is installed on their mobile phones, the rich can do many of their tasks such as turning the lights on and off, setting the ambient temperature, and opening or locking the doors remotely. Also, they can check the condition of their house and ensure its security wherever they are on the ground.

    These houses have a very high level of security: Note that luxury and aristocratic houses need a high level of security to protect the lives of residents and protect property and equipment from theft. By this definition, high-rise villas, which have large courtyards, are usually erected with high walls, and security guards are assigned to the entrance of this type of apartment.

    A luxury house has originality and identity: Originality and identity are common features of other luxury homes. Note that originality and identity mean that the house is designed by a famous and renowned architect who gives it a distinctive feature compared to other houses.

    The luxury house has a good location and a beautiful view around: Note that a house with all the above features that are in the center of the city and has a bad view of the surroundings, cannot be called a luxury house. So these houses, like the photos below, should be in good parts of the city and have a beautiful and dreamy view around them.
January 15, 2021/by Cassandra Isaacie
https://www.3pmbc.com/wp-content/uploads/2021/01/iStock-1223016829.jpg 1491 2009 Cassandra Isaacie https://www.3pmbc.com/wp-content/uploads/2021/11/3PM-Real-Estate-Services-Inc.-1030x398-px-2-300x116.png Cassandra Isaacie2021-01-15 15:17:002021-01-19 15:22:416 Features of Luxury Homes
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