Affordable Rates and Quality Service

Let’s briefly discuss our fee structure

We charge 8 percent across-the-board with no upcharging on any extra service that we do. Everything is included in that, with the one exception of some non-resident filing which takes a lot of extra time and energy for us, with Revenue Canada, accounting and so forth.

The minimum fee is $100 per month, to a maximum of $250. So, if you have a very luxurious expensive suite, this is very much to your advantage, because the ceiling is $250.

Once again, our rate is eight-percent across-the-board. This is subject to federal tax (that’s the law in Canada, it’s called Goods and Services Tax) and currently that is at 5%. So that’s basically all that you would have to have when you do business with Downtown Suites.

The services that we provide

We’re very affordable and we provide a very quality service.

Our service is a complete hands-on management of your suite, you have nothing to worry about. We are totally looking after everything for you. We provide peace of mind, in actual fact.

You are free to go traveling, knowing that we look after the suite as if it were our own. We’re on call 24 hours a day, 7 days a week, 365 days of the year.

We have five licensed property managers here in the office and one of them is on call every day of the year. They work on a rotation basis.So even it there is a burst pipe or something at 3 o’clock in the morning, somebody will be there to deal with it and to speak to the appropriate tradespeople.

We have a qualified accounting team, and very very good administrative staff.

So once again, our fees are 8%, with a minimum of $100 to a maximum of $250, with great advantage for the luxury suite owner. Quality Service at Affordable rates. I think you’ll really enjoy working with us.

Our Fees and Services

In this video, Nicholas Meyer outlines current fees and services at Downtown Suites Ltd.

Current Rates, Fees and Services at Downtown Suites in Vancouver

Nicholas Meyer gives an overview of the rates, fees and services offered by Downtown Suites residential property management.

Flat Fees for Luxury Suite Management

Nicholas Meyer, and Lisa Taylor, Leasing Agent, discuss Downtown Suites’ fees for management of luxury suites.

Nic: At Downtown Suites we specialize in the downtown Vancouver suite market, and a large part of our portfolio are luxury suites, in Yaletown and specifically in Coal Harbour. Many of these suites are worth upwards of two to four million dollars. We are very adept at dealing with that caliber of tenant, and those owners. We are very understanding of their needs which are slightly different. We are very confident and comfortable dealing with higher quality tenants and owners, and especially with higher end properties. We are very good at that, and the bonus to our owners is that we charge $250 as a cap on our fees.

For any suite over $3000, it doesn’t matter how much more it is, our fee is $250. In a lot of cases this now works out to 2,3 or 4%, so we are very very competitive. I know that many of our competitors are still charging the flat 8%. It seems outrageous to me, actually, that somebody could be charging $500-$1000 a month when we are just charging the $250, which I think is reasonable.

Lisa: Especially when we are talking about $6000 rentals, $7500 rentals. We do an extremely good job and we think that $250 is a fair value. And of course our leasing fee is a half month’s rent. That is for all of our suites. That includes the tenant screening, tenant qualifying, the showing of the suite, and making sure that we get a happy and “right fit” tenant, especially in our luxury suites.

Nic: And incidentally, tenants don’t move very frequently in high end suites, they are generally in for several years, so the leasing fee shouldn’t be something to be overly concerned about. Anybody who moves into 2 or 3000 square feet is generally wanting to stay there for quite a long time. I recently had a tenant move out after 20 years in a suite. So it’s essentially $250 a month for our luxury suite management.

Downtown Suites: Our Services

In a recent video session, Nicholas Meyer outlined the services and fees at Downtown Suites.

Our Fees and Services

We recently did this videoblog outlining our fees and services for Property Management at Downtown Suites.

Here it is, in three parts.

Our Fees and Services Part 1: Introduction to Downtown Suites
Our Fees and Services Part 2: Details on Our Services
Our Fees and Services Part 3: Downtown Suites Overview(originally posted June 7, 2007)
Note: these fees are now updated, call for more info.