What’s the Process: Arranging Suite Management

What is the process? Here’s what to expect when you come to us to arrange suite management.

When someone comes to us with a suite that they want us to manage, first we sit down with the owner and find out where the suite is, the size, the amenities and things of that nature.

We also then find out what the owner is expecting because if owners have unreal expectations they’re going to be frustrated.

So once we establish that they have a realistic sense of what’s going on in the market, then we make an appointment to go view the suite. Why see the suite? Because we can talk about prices all day long but we have to go into the suite and see the layout, the condition, what the suite looks upon, as well as the state of the hallways in the common areas. Until this viewing you can’t really put a price on the suite.

Then we negotiate a suite price with the owner. This has to include the current marketplace, because even fifty dollars over what the general market price is can make a suite sit empty for at least a month. And it takes over a year to make up that lost money, so you want to be right on the spot with the rents.

Also with the owners coming into the office we want to make sure that we have a rapport  – not only because we have to deal with them on a monthly basis, but from their point of view they’re handing over a substantial amount of their investment for us to manage. We want to make sure that they’re comfortable with us and we’re comfortable with them.

It’s a “getting to know” process plus it’s seeking out what expectations they have. And once that’s established then we sit down, we sign an agreement, and we put the suite on the market. Usually we’re successful within the second and third week in getting them a solid tenant.

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Our Ethics and Values

We pride ourselves on being a boutique rental property management and real estate company here in exciting wonderful downtown Vancouver. The most important thing about our company is what sets us apart from  our competition. We are a small company, totally client driven. You will always be a name and a face to us rather than a number. We pride ourselves in our personal relationships with our clients, many of whom become repeat customers over and over again. They also give us the ultimate accolade by referring us to their friends and relatives. We are so happy to have them all. If you are one of our clients, thank you so much for being part of our portfolio and we enjoy serving you.

I’d just like to say a few things about us. My partner Margaret and I started this company over 15 years ago and I’ve been in the real estate industry for over 25 years now. We’re both seasoned veterans in this market. We’ve worked for all the major companies before starting our own concern here at Downtown Suites.

Most importantly, we’re a company with very strong ethics; we also have very strong integrity. We’re very honest and very true, always, to our word. We try to do the very best we can for our clients and always go the extra mile. We oftentimes do way more than we are contracted to for our clients, but willingly do it because we always try to think of the client’s property as if it were our own, and we always deal with it in the same way.

So if you are overseas you can be very assured that we will always take good care of your property and do what we can to maintain it for you. And ensure that your investment is going to continue on appreciating. The main thing is that your property is maintained and kept in a secure and proper fashion and that’s what we’re here to do for you.

One of the things that Margaret and I, as business partners, have always tried to follow through on is our ethical and right way of living in our own personal lives that we have tried to bring into our office. We have a very happy office as a result, and everybody fits together and works well together. What we are really committed to is personal development, non-violence, meditation, vegetarian lifestyle, non-cruelty to animals – all the feel good and fuzzy things - but which are very real and dear to us. We are trying to have an ethical right-minded business here, based on these values.