Case Study 2: A multi-property investor
Canadian Real Estate Wealth
Vancouver-based Vivienne owns three properties across Canada. When she grew disillusioned with the fees and services she is getting from her property management company, Vivienne decided to research other options.
After taking a couple of weeks to explore the options, Vivienne switched to RentalMiles; it’s a seamless process that she can do on her phone after downloading the RentalMiles app. After switching property management companies, Vivienne quickly started to rack up rewards. Her Vancouver property rents for $1,800 a month and earns Vivienne 3,300 Air Miles that year as she received a signup bonus when RentalMiles launched, easily enough for a free return flight to Toronto
“At the end of the year Vivienne places her other places with RentalMiles and her licensed agents achieves rents of $1,900 and $2,200,” explains Jason Duncan, CEO of RentalMiles. “With three properties in the RentalMiles program, Vivienne’s loyalty jumps to Platinum Status. That year she earns 11,800 Air Miles from RentalMiles. Her property fees are lower, her Air Miles Status is Onyx and she manages every aspect of her portfolio on her smartphone.”
Vivienne often travels overseas for business and to visit family, so being able to manage everything from the app is a massive benefit. “It doesn’t matter where she is or what time zone she is in, Vivienne can contact the agents who look after her properties at any time,” Duncan says.
“She can contact those agents in real time by text, phone or email and discuss any concerns or issues. But, it’s a truly hands off full service management and Vivienne doesn’t have to have any communication with RentalMiles after the property is on the system and agents have done the initial inspection. After that she can check in if she wants or just tap a button in the app and get her annual or monthly financial reports. It’s all done on her behalf.”
“RentalMiles is a property and loyalty rewards management business. Our ecosystem is designed as a 100% digital platform managed through Apps & Websites and supported by a Global Concierge. Global Concierge puts a Concierge at the front door of every tenant and provides services to them that Independent Landlords (ILLS) rarely can. The Concierge also has the effect of removing many processes and tasks that distract professional Agents and take their time away from landlords and tenants e.g. maintenance tasks are outsourced and are not performed by RentalMiles.
At RentalMiles we believe in the rights of landlords & tenants and seek to reward both parties significantly for good behaviours. Our clients’ status increases the longer they stay with us, as do their earning rates for loyalty rewards. We use data intelligently so that tenants are encouraged to stay within the RentalMiles family and don’t start from scratch each time they rent. The behaviours we reward also benefit the landlord, so we’ve tried to create a new industry culture within residential property management, one where all parties benefit.”
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