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2010 Olympic Rentals  
What's In this Section:

INTRODUCTION Page Up


The Vancouver 2010 Olympics are just around the corner. If you own a residential property in British Columbia, you have an opportunity to earn significant income by renting your property during the Olympic period. Komfort Properties is an experienced property management company that has over 5 years of experience in the Vancouver market. Over this period of time, we have achieved an enviable 100% occupancy rate! We have the experience and local presence needed to get your property rented to responsible tenants. Visit our street front office at 887 Helmcken Street in Vancouver!

We offer two types of service packages for the 2010 Olympics. A 'Do-It-Yourself Marketing Package' and a 'Full Service Property Management Solution.


PACKAGE #1: Do-It-Yourself Marketing Package Page Up


This package is designed for hands-on property owners who want to control and take responsibility for the rental process, but want assitance with marketing their property.

Services included:

1) We'll visit your property and give you a written assessment on what you can do to make your property 'Olympic Ready.' The objective of our recommendations will be to maximize your revenue while minimizing your risk of property loss or damage.

2) We'll take and edit both pictures and a video of your property. Here are some examples:

Picture Example 1 Picture Example 1 Picture Example 1

3) We will create a listing for your property and post it on our site until it is rented.

4) We will create a professional Komfort sponsored online ad that you can post on popular sites such as Craigslist and Kijiji. Here's an example:

 

5) We will provide you with a customized legal documentation package for your property. This will include all forms you need to rent your property during the Olympics.

6) We will give you access to our preferred rates from our partner companies. This will allow you to enjoy discount prices from reputable companies that provide services such as house and carpet cleaning.

TOTAL COST OF PACKAGE #1: $399 CDN.



PACKAGE #2: Full Service Property Management Solution Page Up


This package is designed for property owners who want minimal involvement with the rental process. This is an 'A-to-Z' solution in which we will take responsibility for the entire rental process. We will consult you with respect to major decisions.

Services included:

1), 2) and 3) from Package #1 are all included.

Additionally, we will:

4) Create and post rental advertisements for your property on popular sites such as Craigslist, Kijiji, etc.

5) Source and screen tenants.

6) Prepare all legal documentation required to rent your property.

7) Perform all check-in and check-out procedures for your tenants.

8) Maintain your suite during the rental period.

9) Conduct all financial administration and provide you with detailed reports of all tenant and financial activity.

10) Provide telephone and on-site support services for your tenants


TOTAL COST OF PACKAGE #2: 15% of gross rent collected




PACKAGE #3: Payment Services & Fraud Protection Plan Page Up


Services Included:

1) We will collect all deposits and rents on your behalf and forward them to you in a timely manner.

2) We accept all major forms of payment including: major credit cards, PayPal and bank transfers. This will be very important to successfully rent your suite as foreign customers will be reluctant to send funds to individuals with whom they don't have an established relationship.

3) You are completely protected from any type of payment fraud.


TOTAL COST OF PACKAGE #3: 6% of funds collected

(This includes all credit card and merchant processing fees).


FREQUENTLY ASKED QUESTIONS Page Up


Q1) During what months will there be rental demand for my property?

A1)This answer depends on what type of client you rent to. We are in contact with government institutions that need to rent properties from as early as January 2009, all the way to April 2010. February 2010 will definitely be the period of peak demand as the games will begin and end during this month. However, there will be strong demand in January 2010, as some visitors and groups arrive early and in March 2010 as the Paralympics games will be taking place during this month.


Q2) How much can I expect my property to rent for?

A1) The answer to this million dollar question is: "Nobody really knows for sure". During the 2008 Beijing Olympics, there were some 1 bedroom furnished condos that were rented for $10,000 USD per month - these were reserved 2 years prior to the Olympics. If you went to Beijing one month before the games commenced, you could have rented a similar property for $1,000 per month! There are several strategies that you can employ to maximize your income:

  • Start marketing your property now: foreigners that have already decided to come to the 2010 games are willing to pay a premium price to ensure that they have adequate accommodations.

  • Have realistic expectations: yes it's true that some large houses in Whistler are going to rent for $50,000 per month. But don't expect a 500 square foot downtown Vancouver condo to rent for $30,000 per month.

  • Get professional help: good foreign tenants are going to prefer to deal with reputable property management companies - not individuals. Think about it: would you feel comfortable sending a large rental deposit to an individual that you had no information about, or no relationship with, if you were planning to go to the 2012 Olympic Games in London, England?


Q3) When is the right time to start marketing my property?

A3) NOW. There are over 10,000 condominium properties under construction in downtown Vancouver that will be ready before the Olympic Games commence. There is a real possibility that there will be an oversupply of accommodations available by the time the games commence. There is no real advantage to waiting.