Electronic-Lease: Everything You Need To Know To Set It Up Safely The use of digital technologies for business transactions has grown rapidly in recent years. This is also the case in the field of property management. In this context, the electronic lease has gained enormously in popularity in the management of real estate rentals. If the electronic lease has many advantages and makes life easier for landlords, it is still necessary to know its limits as well as the conditions of validity surrounding it. Discover its advantages, its risks and the best practices to set it up and secure it effectively. The Advantages of the Electronic Lease in Rental Management The digital lease offers many advantages simplifying the lives of tenants and owners of rental properties, both residential and commercial. Here are a few: Quick and easy electronic signature. Reduced document processing and storage costs. Better communication and transparency between the parties regarding the rental agreement and building regulations. Time saving thanks to the speed of the electronic signature (you will easily see who has signed his lease or not.) Reduction in the use of paper and therefore respect for the environment. Ability to store and manage electronic leases centrally and securely. As you can see, the electronic lease is a faster solution than the traditional paper lease allowing rental managers to be more efficient and productive. Thanks to the electronic signature, you will no longer need to send documents (such as the lease, the building regulations or the renewal notice) by bailiff, registered mail or to meet the tenants in person to sign the lease. The Conditions of Validity of an Electronic Lease and Electronic Signature In Quebec, the validity of the electronic lease is based on compliance with certain legal conditions stipulated by the TAL. Among other things, there are several criteria to be met in terms of the document’s authenticity and integrity. It is important to comply with these requirements to ensure that the electronic lease is valid and enforceable before the TAL in the event of a dispute. The information provided by the Tribunal Administratif du Logement concerning the document’s integrity. According to the TAL, for an electronic lease to be considered valid, it must comply with the applicable legal provisions: The electronic document must be authentic, unaltered and clearly identifiable; Parties must also have access to the electronic document and to any other relevant information in connection with the electronic lease; Parties must give their informed consent to use the electronic lease. The TAL also recommends keeping a copy of the electronic lease for a period of 5 years. The Risks and Limits of Electronic Leasing in Quebec As with any electronic document, there are certain risks associated with the use of digital lease. It is important to take into consideration that the latter could be vulnerable to hacking. The confidentiality and security [...]

Digital Transformation: 5 Grants to Help your Company For companies wishing to continue to grow and prosper in an ever-changing world, going digital has become a must. However, this digital transformation can be costly. Fortunately, solutions exist to support Canadian SMEs wishing to evolve and adapt to the market. Various Canadian and Quebec subsidy programs have been put in place to support companies in this transition to digital. What’s a Digital Transformation? Digital transformation usually involves redesigning traditional methods by integrating digital technologies to improve operational efficiency and reduce costs and risks of errors. These technologies may include the acquisition and implementation of Management software. However, for a company, a digital transformation covers much more than the addition of digital technologies; it is in fact a global transformation which affects all its activities, strategies, and processes and which may involve exceptional accommodation efforts for the team in place. Why go Digital? Adopting more efficient technologies allows you to improve several aspects of your business, such as: Customer experience; Informed decision-making; Project management; Efficiency; Employee management; Data security; etc. The digital transformation is an essential transition for companies wishing to remain competitive and relevant in a constantly changing connected world. Grants Offered to help your Company Digital Transformation Available grants support this approach, encouraging businesses to fully embrace the digital transformation and thrive in an emerging digital economy. Here are 5 grants you may be eligible for that could help you with your digital transformation! 1. The PCAN and the “Boost Your Business Technology Grant”. The “Boost Your Business Technology Grant” is a program offered by the Government of Canada. It is offered to companies wishing to improve their productivity by initiating a digital transformation. If you run a for-profit Canadian business with 1 to 499 employees and have generated at least $500,000 in revenue in any of the past three years, you may be eligible for a grant of up to $15,000. 2. The Momentum Fund – The Digital Transformation Phase Le The Momentum Fund is financial assistance offered by Desjardins to support the Quebec businesses growth. If you are considering a digital transformation project, you may be eligible for funding covering 25% of the cost of the project for a maximum amount of $20,000. 3. Le crédit d’impôt pour investissement et innovation du gouvernement provincial The Government of Quebec provides a crédit d’impôt relatif à l’investissement et à l’innovation (C3i). If your company has acquired computer equipment or management software, it could be eligible. The tax credit is applicable on eligible expenses at a rate of 20 to 40%, depending on the territory. 4. The ESSOR Program Intended for Quebec companies wishing to increase their productivity through the acquisition of new technologies, the ESSOR program offers attractive financing. The program includes 2 phases for digital transformation projects: Phase 1 – Support for investment projects realization (feasibility [...]

Property Management Guide to Becoming an Effective Property Manager As a property manager, your main mission is to ensure your clients' peace of mind by optimizing the profitability of their real estate assets. To achieve this, you need to master many skills and use the best management tools. Here is a guide to see things more clearly and gain efficiency. The Role and Responsibilities of the Property Manager The job responsibilities of the property manager vary considerably depending on the size and type of building, as well as the size of the real estate they manage. In general, owners with spaces to rent entrust it with the technical, rental, and legal management of their property portfolio. The rental manager then signs a management mandate giving them the authorization to intervene on the owner’s behalf on their property portfolio. Therefore, the property manager wears several hats. He will, among other things, take care of the relationship with tenants, accounting, insurance, building maintenance, and much more. Building Maintenance The property manager is responsible for the management and maintenance of one or more buildings (residential or commercial.) Real estate services often include the following : Plan the necessary maintenance and schedule appointments; Negotiate service contracts with contractors; Ensure that the work is carried out in compliance with the standards; Coordinate renovation and maintenance projects. The property manager is responsible for the management and maintenance of their client's real estate. They must be able to ensure that the buildings remain in good condition and that they comply with safety and hygiene standards. Maintenance management services provide great peace of mind to landlords as they help maintain rental properties in good condition. A proactive manager will carry out preventive maintenance, to avoid major (and costly) work and guarantee tenant satisfaction. Tenant and Tenancy Management It is also the role of the property manager to deal with the residential and commercial buildings tenants. This involves, among other things: Manage issues regarding worn or broken devices; Manage leases – draft rental contracts, manage renewals, etc.; Ensure that the rent is paid every month; Promote the building and the apartments available for rent to optimize the occupancy rate; Select future tenants and conduct pre-rental inquiries (including reference checks and credit inquiries); Take care of the collection of unpaid rents. Financial Management and Building Performance Evaluation Accounting, payment of salaries, calls for tenders, preparation of budgets, project cost estimates, the tasks related to finance and accounting are numerous in rental properties management. Therefore, it is essential to understand the financial aspects of running a business, such as budgeting, forecasting and cash flow analysis. Becoming a Property Manager in Quebec: Property Management Training It is not necessary to hold a degree to become an expert in property management. However, a specialized school education in property management is undoubtedly an asset, especially if you plan to manage [...]

Housing Lease: All You Need To Know About Lease Management The housing lease is a legal document that protects the owner of a rental property, as well as the tenant. This acts as an agreement setting out, among other things, the rental duration, the price of the rent, as well as the building rules. Here's what you need to know as a property manager: Lease Management: Lease Transfer and Subletting If a tenant wishes to leave their apartment before the end date provided for in his lease, the landlord reserves the right to refuse to terminate the contract. The tenant then has the choice between two options: either they can sublet said apartment, or they assign their lease. Here's everything you need to know if you find yourself in this type of situation Subletting or terminating the lease? Subletting can be the ideal solution for a tenant who temporarily leaves their , since they can eventually move back in. The tenant who sublets is responsible for lease for its entire duration He remains responsible for payments. He must ensure that the apartment is clean, habitable and in good condition. He is responsible for notifying the owner of the renovations must be carried out. In the case of the assignment of the lease, the tenant does not renew his lease and is therefore no longer responsible for his apartment after the end date of the lease In any case, the owner of the building also has certain rights. The Owner’s Rights in the Event of Assignment of Lease or Sublease The Civil Code of Québec provides for only three types of apartments for which subletting, or assignment of lease are prohibited, namely: Student residence; Low-renthousing; Family residence for which one of the two refuses subletting or assignment. If none of these three types of apartments apply to your situation, the landlord has fifteen days to respond to the notice of assignment of lease or sublease. If he does not answer it, it means that he accepts the request by default. The owner is under an obligation to accept the notice unless they have a reasonable cause such as an inability to pay or a behavioral problem on the part of the tenant. If there is a refusal without valid reason, the Tribunal du logement: (formerly the “ Régie du logement”) can force the owner to accept the request. Lease Management: The Lease Renewal A lease renewal is done automatically if the conditions of the latter do not change. However, if the landlord wants to apply changes upon renewal, then the process is a bit different. Changing a lease and increasing the rent are processes governed by law. This regulation protects both the tenant and the landlord. Amend a Lease The landlord must send a written notice to the tenant within the prescribed time. This period changes according to the duration of the [...]

Rental Investment: Five tips And Tools For A Profitable Rental Management Investing in rental property can be a great way to generate passive income and benefit from capital appreciation. However, managing rental properties comes with its own set of challenges. To succeed in the real estate market, you will need to develop your management skills and have the right tools. In this article, Hopem got five tips to help you make your rental property purchase more profitable, along with helpful tools to make your job easier! The Advantages of Rental Investment Rental real estate is attractive to real estate investors. This is an interesting path for you if you are just starting out, since this type of investment has many advantages, such as: Rental income stability; Capital appreciation opportunity; Tax benefits related to depreciation, mortgage interest, etc.; Possibility of generating passive income; Accessible market thanks to lower entry costs than other types of investments; Low vacancy rate and higher rents in several Quebec cities, including Montreal and the National Capital. If you play your cards right with your rental purchase, you will be able to turn a profit in just one year! This is good news for those aiming for financial independence. However, to get there you will have to develop your management skills, especially if you decide to take care of it yourself. With administrative tasks, expense and income management, tenant management, building repairs, apartment renovations and all the other tasks that fall to you, your rental investment could quickly turn into fulltime work! Rental Property: Manage Yourself or Hire a Manager? After investing in the rental market, you can take care of the management of your rental properties yourself or entrust it to a firm specializing in this area. By hiring a property manager, you can save yourself some headaches. You will also have peace of mind knowing that a professional is taking care of your rental investment. However, this will obviously incur additional costs. Taking care of it yourself gives you more control over the investment and saves money in the long run. Hopem has some tips and tools to help you turn your real estate investment into a success!  Centralize all your data and gain efficiency. Discover our property management software. Five Tips for Profitable Rental Management of Your Rental Property Managing rental properties can take a lot of time and energy. To make your real estate investment profitable, it is important to put good strategies in place. From the use of technology to careful tenant selection, to preventative maintenance, there are many steps to consider. Here are five tips that could help you make your rental purchase profitable. To read: Property Management Guide to Becoming an Effective Property Manager 1. Technology is Your Best Ally: Use Rental Management Software Make managing your rental property portfolio a breeze using specialized software. These will [...]