2023-09-22T08:34:48-05:00

Commercial Real Estate

Our software solutions have all the necessary modules for the good management of a commercial real estate park. Your situation is unique, that is why your management experience with our software will be perfectly adapted to your needs.

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End of the Year in Rental Management: our Advices

End of the Year in Rental Management: our Advices As a property manager, you have a lot to do at the end of the year. You must prepare renewal notices, post vacancies, prepare RL-31 slips, draw up financial statements and more. Here's a checklist, plus some tips, to help you optimize your time and get everything done as efficiently as possible. Dos for Year-End Property Management The list of things to do for this time of year can be extensive: Update your lease forms and other documents, such as: Renewal notices; building regulations; pre-authorized payment notices, etc. Review tenant files; Prepare RL-31 slips; Complete government payroll form; Carry out the end of the year balance sheet; Prepare for the tax return; Post vacant apartments; Carry out control visits. There's a lot to do before the holiday break and there will be plenty on the way back. Be sure to plan ahead! It's a good time to take a step back and get an overview of the real estate you manage. By taking the time to organize and plan your work, you can avoid any last-minute rush and ensure that all your tasks are completed on time. Adopting good practices for each of the elements will allow you to offer a better management service as owner/manager, in addition to maintaining a high level of satisfaction on the part of tenants. Here are some things we encourage you to focus on now for a more productive and efficient 2023 !   Analyze Property Occupancy Rates and Post Vacant Apartments It is important to analyze your properties’ occupancy rate to ensure that each of them is as profitable as possible. The occupancy rate within your real estate portfolio is indeed a good performance indicator. It is interesting to pay particular attention to this at the end of the year. This will also be an opportunity to rent out vacant apartments and thus reduce the vacancy rate of real estate from the beginning of the year. Inspect your Buildings and Plan the Necessary Work This is not a year-end task in itself; however, it is a good time to have your buildings inspected. You will be able to check that everything is in order or plan the necessary work if there is some. By performing preventive maintenance, you will avoid small problems to turn into big problems during winter. Remember to schedule time for visits and credit inquiries. Year-end and Lease Renewals As a property manager, you need to make sure you send out lease renewals three to six months before your tenants' leases end. If your leases end on June 30, you must therefore send renewals between January 1 and March 31. You must also examine tenant files and carry out control visits to ensure that each one complies with the conditions stipulated in their lease. In Quebec, the law prohibits landlords from increasing the price of rent or changing the terms of the lease at any time. A residential lease is therefore automatically renewed [...]

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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 [...]

Timesheet: Challenges & Strategies

Timesheet: Challenges And Strategies For Managers The timesheet is a key tool in project management, since it facilitates time management, an essential element in all businesses. It's important to be able to track the time employees spend at work, as well as the billable hours allocated to tasks and other activities. This helps to ensure that the work is done and that employees are productive. While not always easy to manage, there are several strategies managers should know about to optimize timesheet management. The Importance Of The Timesheet In Project Management Time tracking is an integral part of managing any project. It provides managers with an accurate picture of time spent on tasks and projects. It is this portrait that makes it possible to plan and allocate the necessary resources for the accomplishment of said projects and tasks. Without a timesheet, it would be difficult to track progress, set deadlines, and maintain accountability for employees or collaborators involved in a project. The timesheet also allows you to analyze the actual time allocated to certain tasks. This allows managers to identify areas where time could have been better managed. Keeping Track of Time Brings Many Advantages Here are the main advantages that time tracking can bring: Better time management; Improved team collaboration; Increased efficiency in performing tasks; More accurate budget forecasting and invoicing; Increased visibility on time allocation and project progress; Simplified communication between employees and managers; Better identification of the areas to improve or optimize; Easier labor cost tracking. That's on condition that employees fill out their timesheets! Timesheet Management, An Irritant For Managers With approving, collecting, and employees forgetting to submit their hours, timesheets sometimes become major irritants for managers. This is often due to the tedious input and adjustment process; not to mention verifying the accuracy of each timesheet. This is a necessary evil, however, since without effective time tracking, it is impossible for managers to accurately forecast the timelines and costs associated with their projects. This could result in late deliveries, lost profits, missed deadlines, and team frustrations. Our Management Software Can Help You Abak simplifies the time management process by allowing timesheet management, online, through an intuitive interface. Time management and tracking finally becomes simpler and more efficient. Overtime is better tracked and leave management is easier. Our timesheet management software also provides managers with a management solution that greatly facilitates the process. Thanks to the latter, they get an overview of the real time spent on the project. They can also proceed to the creation of useful reports for their project management. A Solution Designed for your Teams This application is so easy to use that it even allows employees to manage their vacations and sick days, without involving human resources. So, there are no more surprises when it comes to payroll because it's easy for everyone to see [...]

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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 [...]

5 tips and tools to succeed in real estate

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 [...]

Monthly Newsletter – September 2022

Monthly Newsletter September 2022 Dave Marcheterre, Hopem's Executive Vice-President, is the « Entrepreneurial Conversations », series' first guest presented by  Convernet  and AQT, in collaboration with the Gouvernement of Québec. Note that this  video is in French only. SyMO Cloud Do you want to ensure the availability of your IT solutions? Secure hosting, backup copies and redundancy are part of our new hosting service fully managed by Hopem. Find out more! Primmo Satisfaction Survey This is the time of year when we invite you, dear customers, to complete our satisfaction survey.  Our team welcomes your feedback as we want to provide you with the best product and service delivery. Annual Service Contract Please note that during the month of October, you will receive a first communication regarding the renewal of your annual service and maintenance contract. Transphere Covers Public  Services ! Do you use different payment methods for your payables and receivables? Do you want to unify your operation?Transphere is THE solution for you. ABAK New version available! You will definitely like these improvements: Improved purchase order management Billing with text editing - including extended type, through all browsers Billing of projects by phases, by percentage AND by hour, on the same invoice and follow the evolution using the billing follow-up report To make sure you don't miss anything, check out all the new features in the release notes. Support Requests Need training or understanding a specific piece of your software? Our team is there for you! Do not hesitate to register on our Customer Portal to: Place a request for assistance Access to relevant documentation Take online training And much more… Did you know that? You can extract specific and customized data with our Data Extractor module ? For example, you want to: target tenants in arrears, validate the increase % planned without entering each account, etc. Avoid clicks, copy-paste and manipulation errors by creating your reusable extraction models and processing everything in your spreadsheear.  

Is hosting your software giving you headaches?

SyMO Cloud Hosting Now Available ! Are your computer servers getting old??   Are you tired of having to hire an outside firm for your IT services?  Do you want secure hosting, including backup copies and redundancy to ensure the availability of your IT solutions?  You don't want to ask yourself these questions anymore?  I want SyMO Cloud! We know that having an IT infrastructure with functional servers and up-to-date components is a big challenge, not to mention the ability to hire a reliable IT technician with the shortage of workforce. … ☹   Therefore, Hopem is pleased to offer you its new SyMO Cloud hosting service, fully managed by Hopem!  We’ve been offering this service to our customers for several years now with Primmo software and we want you to benefit from it for all our software. Therefore, we’ve worked to make this service available to you currently using SyMO.  If you must call on an external team for these IT services, we’re fully able to provide you with part of the solution through our cloud hosting offer.  I want SyMO Cloud!  

2022 Spring Promotion

We are delighted to count you among our customers. Take advantage of this offer available until May 20, 2022! Contact us now! Get 1 month free applies to what will be activated during the promotion if your Primmo software is paid monthly OR Save 15% Your Primmo software is paid for by license and annual service contract, get 15% off on the following options: Doors in residential Primmo      Additional licenses or new module      Square feet in commercial Primmo

Hopem is constantly evolving, here are the main new features

It is with renewed pleasure that the Hopem team presents the main improvements and new features of its April release! It's a known fact, Hopem has been supporting all your property management needs for almost 40 years and our team makes sure to make your flagship software evolve. All this, to allow you to better invest your time and energy in doing what you do best: serving your customers! The update includes 42 improvements and novelties distributed in the different modules of the software suite, our team has identified the most important ones that will make your daily life easier: Data extractor: we have added an option allowing you to produce the financial data of your Balance Sheet or your Income Statement; Ledger: renumbering your companies-division is now child's play thanks to our new utility; Residential - Service Codes: Yes, I do! When changing the General Ledger number, you can now adjust the General Ledger number of all tenants with this service; Commercial: you will no longer be able to delete by mistake a tenant, a lease, a building or a room that had transactions in the current year, we have added protection to save you hassle; Parking space: no more searching, the indoor or outdoor parking indication is now available; Payroll: it's not a range of employees you need, it's being able to select them from a grid, it's now done! Enjoy and take advantage of these developments!

SyMO update 2022 version Now available!

Hopem healthcare www.hopem.com SYMO UPDATE 2022 VERSION FORMS   You've been hoping for a long time to generate your own forms, so we've been working hard to get you this feature!   In order to allow you the smooth transition, we offer you a series of forms and then, it's your turn to play!   Next steps Request the update and follow the training on the version Start using the new mode of operation Take the training on creating your own forms and practice Smile and relax, you are now a pro! THE SMALL PLEASURES It is possible to include photos and/or vital signs in custom reports There is no longer any dependency on Internet Explorer in your favorite care management software since this browser is no longer supported by Microsoft It is now possible to use doctor, pharmacy and first five responders in reports and forms I want to schedule my SyMO 2022 update! OCCUPANCY RATE Various improvements have been made to the detailed report, it now takes into account the change of units and keeps the service change history of an episode. Print it when you need it!  

A new release for you!

Website Who are we? Contact Primmo Residential Tenants Display of the last user who modified the tenant file, as well as the date and time. Addition of a question to automatically adjust the rent of a unit when there is a change in the rent amount in the tenant file Addition of the “Right to keep animals” box in the tenant file. This information is reported on the lease of the Tribunal Administratif du Logement. Increase in rents and services Possibility of rounding to the nearest $5 and $10. Notices and sending texts Added the ability to choose units individually via a list The small changes that make you happy: Parking and storage: you can now choose a date range for the lease. Service calls: the Documents tab has been added to the service call form. Accounts Payable: Keep linked documents directly in the database rather than via a link to the document. General Ledger – Financial Statements: Possibility of posting a batch when the user is authorized to do so. Application settings: Excel is no longer required to import or export documents. We have significantly improved performance when exporting data and reports. Follow-Us  Phone 1 800 363-9049 © Tous droits réservés. All Rights Reserved You are receiving this email because you are using Hopem products Our address is : Hopem 2954, boul. Laurier, bureau 560 Québec, Québec G1V 4T2 Canada  

Summer offer valid until July 29!

News About Hopem Contact us Summer Offer Our multi-service communication platform is designed to help multi-residential property owners and managers run their building efficiently and profitably. Valid Until July 29, 2022! Contact Us Now! Get 1 Month Free on a new 12-month subscription OR Get 2 Months Free on a new 24-month subscription OR Get 3 Months Free on a new 36-month subscription © Tous droits réservés. All Rights Reserved Notre adresse est/ Our address is : Hopem 2954, boul. Laurier, bureau 560 Québec, Québec G1V 4T2 Canada  

Real estate in Quebec: The rental market in 2023

Real Estate in Quebec: The Rental Market in 2023 In recent years, the real estate market in Quebec (as well as the rental market) has changed a lot and it has not been easy! In 2022, there was first a surge in prices for houses and real estate in general, then a sharp rise in interest rates. We arrive in 2023 in a context of economic uncertainties giving rise to new challenges, both for investors and for property managers. In this article, we will take a closer look at the state of the real estate market in Quebec as well as the challenges that await property managers in the rental market of 2023. A Slowing Real Estate Market in 2023 From 2010 to 2019 we were in a balanced market and then moved into a seller's market since around 2021. Although it's difficult to make predictions in a volatile market, experts believe we are slowly heading towards a balance in 2023. After the overheating of spring 2022, the real estate and rental market in Quebec continue to experience a slowdown in 2023. Several factors contribute to the continuation of this slowdown such as: The increase in mortgage rates; A drop in the purchasing power of Quebecers caused by inflation; The instability of the market which makes investors cautious; Delays in the construction of new residential projects. These various factors represent a challenge, both for real estate investors and for rental managers who must adapt to this new reality. Rental Market Profitability, a Major Challenge in 2023 Profitability is a major challenge faced by owners of rental and commercial properties, as well as investors looking to increase their housing stock. Several factors are involved: Bank of Canada Policy Rate In a few months, in 2022, the Bank of Canada's key rate jumped from 0.25% to 3.75% to reach 4.50% in January 2023. A higher mortgage rate directly affects the profitability of rental properties. Inflation Inflation measured by the overall CPI in Canada is valued at 6.3%, according to the Bank of Canada (source Banque du Canada). This results in higher material costs, higher labor costs and lower purchasing power. This means that maintaining a rental property is more expensive than before, again reducing the profitability of the latter. As the construction price index is on the rise, we are therefore witnessing a drop in real estate investments (source Statistique Canada). Housing Crisis Quebec is facing a housing crisis with a vacancy rate below 1% in several regions such as the island of Montreal. As purchasing power declines, affordable rental housing is scarce. This can give rise to several issues affecting profitability, such as overdue payment (or non-payment) of rent by tenants. Given the scarcity of affordable housing, it can be difficult for building owners to increase rental prices enough to cover rising rates and building maintenance costs. Perspectives for Commercial [...]

Improve the management of your food services with management software – HOPEM

Why Your Establishment Needs Food Service Management Software Does your establishment need food service management software? Efficient operations management is essential for the success of your food services. However, as a manager, you face many challenges every day. Food service management software could bring you benefits that will truly transform your daily operations, both in the kitchen and in the dining area. See features for the kitchen See features for the dining area Our Food Service Management Software Does a Lot for You Our food service management software is designed to simplify and optimize your operations, both in the kitchen and in the dining area. It effectively handles all critical aspects of your establishment. It's a personalized solution that perfectly adapts to your needs to deliver results. Learn more Features for the Kitchen Improve kitchen management with genuinely useful features such as: Standardizing and digitizing your recipes. Precisely calculating the nutritional values of dishes. Efficiently tracking inventory. Implementing a stable cyclical menu. Planning work tasks for the entire team. Ensuring proper management of resident records (nutritional plan, food allergies, preferences and aversions, textures, etc.). Analyzing performance Identifying growth opportunities. And more. Learn more about the benefits for your kitchen Features for the Dining Area All the features you need to optimize the management of your dining area: Simplifying the dining area ordering process. Facilitating communication between the kitchen and the dining area. Accurately accounting for sales and reducing errors. Analyzing sales and performance statistics. Operating in self-service mode. Identifying growth opportunities. And more. 3 Key Benefits for Managing Your Food Service You understand that food service management software can do a lot for you, but what concrete benefits do you get from it? There are several! We present the 3 major benefits of our software:  Increased Productivity for Your Employees The features offered by our food service management software allow, among other things, to improve the productivity of your employees in both the kitchen and the dining area. With food service management software, your business can boost employee productivity and thus increase overall operational efficiency. You can also use it to reward your employees by offering them free meals or employee discounts.  Better Financial Performance Food service management software allows for more precise cost management. Thanks to precise cost management, optimized menu planning, and identifying cost-saving opportunities, you can improve the profitability of your business. That's why we've incorporated these features into our food service management software. It allows you to track and analyze expenses related to purchases, control production costs and costs of goods sold, and optimize production steps and resource usage. Additionally, menu planning functionality allows you to create cost-effective combinations while meeting customer expectations and preferences. In summary, you will have access to information at all times that [...]

T4 and RL-1 Production for property managers | Hopem

T4 and RL-1 Production for property managers The production of T4 and RL-1 forms is among the many tasks for which property managers are responsible at the end of the year. This is a legal obligation to declare income and withholdings for employees. We provide further details and the necessary resources to assist you in the process of producing T4 and RL-1 forms. Understanding T4 and RL-1 in Property Management In Quebec, the T4 and RL-1 forms are mandatory tax documents used to report wages. The T4 is intended for the Canada Revenue Agency. It summarizes employees' income and tax withholdings, including payments to subcontractors in certain cases. For managers, this means ensuring an accurate declaration of income and expenses related to the workforce. The RL-1, on the other hand, is required by the provincial government. It also summarizes employees' income and tax withholdings. However, since the federal and provincial governments have different definitions of taxable income, the amounts reported on the two forms may differ. Information to be Declared The information to be declared on the T4 and RL-1 forms is similar: Employment income: The T4 form must report the total employment income before deductions, including salaries, tips, bonuses, vacation pay, commissions, and other types of compensation. Taxable benefits and allowances: All taxable benefits or allowances provided by the employer must be included. Retirement allowances: This includes pensions, salaries in lieu of Notice of Termination of Employment, severance benefits, and other payments. Contributions to the Canada Pension Plan (CPP): Amounts deducted for CPP or Quebec Pension Plan (QPP) contributions must be reported. Employment Insurance (EI) premiums: Deducted EI premiums must also be included in the T4. Income tax : The total income tax withheld on payments during the fiscal year. Other remuneration: Any other type of remuneration, including payments from an income replacement plan in case of salary loss, must be declared. Deadline for Form Submission Managers must submit the T4 before February 28 and the RL-1 before the last day of February. You must meet these deadlines to avoid penalties. Diligent management of these documents ensures not only compliance with legal obligations, but also transparency and efficiency in property management. Tips for the T4 Form Production Here are some essential elements for an efficient and tax-compliant production: Gather all necessary information, including income and tax withholdings for each employee and subcontractor. Ensure that the entered data is accurate to avoid tax errors. Submit T4 forms before the deadline: February 28. Find out if you need to produce T4 forms by checking the information provided by the Government of Canada: Employer's Guide on how to produce the T4. Frequently Asked Questions Regarding T4 Production You should fill out a T4 form if you are an employer (resident or non-resident) and have paid your employees employment income, commissions, taxable allowances and benefits, fishing income, [...]

How to set the price of a rent in Quebec? – HOPEM

How do I set the price of rent in Quebec? Are you a rental property owner wondering how to set the rent? It's an important step in ensuring the profitability of your real estate portfolio. A number of factors need to be taken into account, such as the building's location, its size, and supply and demand. We've compiled the relevant information in this article. Factors to consider when setting rent So, what are these factors to consider when setting rent? As we said, the location and amenities that are offered by the property, its size and condition as well as supply and demand on the rental market will influence the monthly rent price. Here's more information on each factor. Location and amenities Of course, location is one of the most important factors in determining rent. For example, near major centers (such as Montreal), rents are higher than in remote areas. Amenities, such as building amenities and access to public transport, can also affect rental prices. Property size and condition The size and condition of the property are also factors to consider. A large apartment in a modern building with many amenities is worth more. These factors also influence the building's operating costs. So it makes sense to take them into account when setting the price. Supply and demand and the state of the rental market in Quebec In addition to the factors mentioned above, it's important to take into account the cost of living and the inflation rate when setting the rent. These factors can have a significant impact on tenants' ability to pay rent, and on the purchasing power of their disposable income. So it's important to keep an eye on the local real estate market. Read more on « Real estate in Quebec: the rental market in 2023 » The framework of the administrative housing tribunal In Quebec, the Tribunal administratif du logement (TAL) oversees the setting of rental rates. The TAL is responsible for enforcing the Act respecting the Régie du logement and the Consumer Protection Act in residential rental matters. Since its mission is to protect tenants, it must ensure that landlords comply with rental laws and regulations. This includes intervening in cases of abusive rent increases. Methods for setting rental prices There are a few tips to help you determine the right price for your rental property. Setting a fair and competitive rent is essential to attracting tenants and ensuring a satisfactory return on your investment. Here are 3 calculations to help you determine the cost of housing. Calculating the cost of average rent in the surrounding area is one of the most common tricks for determining the appropriate rent price for your property. This method enables you to set a competitive rent that matches the local market and attracts potential tenants. Then adjust your price according to the value you offer your tenants. For example, if you offer more amenities [...]

How to Find Good Tenants? – Hopem

Finding good tenants is no easy task. Discover our advice in this article. If you are a landlord or property manager, you know how much work it is to find good tenants for your vacant properties! You want them to be reliable and respectful to avoid non-payments, neighbor complaints, and disturbances in the apartment. Here are some practical tips for selecting the right tenants. Selection criteria to consider when choosing a future tenant First, you need to have an idea of who your ideal tenant is. What makes a good tenant? The description may vary from one landlord or manager to another, but generally, it can be agreed that it is someone who: takes care of their accommodation; is respectful of the neighborhood; pays their rent on time. To achieve this, we invite you to create a list of selection criteria that you will consider when the time comes to make your choice. Here are some examples of criteria to consider: Financial stability Good reference Responsible and proactive attitude Good communication Respectful attitude Compatibility of this person with the neighbors Your selection criteria will help you evaluate the people interested in the advertised accommodations and determine the type of tenant you want to attract. Our tips for evaluating tenants interested in your vacant properties The costs associated with renting out a property and selecting tenants can be considerable in property management. Think of the time spent answering phone calls and emails, conducting visits, and conducting credit checks, for example. That's why it's important to screen potential tenants. Here are some tips to help you do this. Advertise vacant properties quickly To maximize your chances of finding reliable tenants for your property, it's important to be proactive in managing lease renewals. Try sending out your renewal notices by January 1st to collect responses from your tenants as soon as possible. This way, you'll have more time to advertise vacant properties and find reliable tenants. Make sure to create a quality advertisement that will attract serious tenants. For more tips on renting out, read our article « Renting out an apartment: our advice » . Use sorting tools (tenant survey, credit check, file verification, etc.) It is essential to use sorting tools such as tenant surveys and credit checks (credit report). You can check for judicial records during the pre-rental investigation. This will help you find a solvent tenant who will be respectful of your property and pay their rent on time. This way, you can make an informed decision. Check judgments from the Housing Board (Administrative Tribunal) You can get an idea of the past of your potential tenants by checking judgments from the Housing Board. You will have access to archives of all judgments rendered following an appeal filed by a prospective tenant or their landlord. Ask for references You can ask for references to assess the reliability and credibility of [...]

Digital transformation: 5 grants to which you may be entitled – Hopem

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 [...]

Everything you need to know about the electronic lease — Hopem

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 [...]

Apartment rental: our advice

Apartment Rental: Our Advice Renting an apartment is an important process in rental management. As a property manager you need to take a proactive approach to vacant apartments to optimize the profitability of your building(s). It makes sense, by limiting the rental vacancy, you can get better rental income. So here are some tips on how to put your apartments up for rent effectively! Steps to Take to Rent an Apartment Effectively A tenant informs you of their decision not to renew his lease. As they must notify you 3 to 6 months before the end of his lease, you have a few months to take care of the rental of the apartment. Read « Housing Lease: All You Need To Know About Lease Management » Here are 5 steps to take to make this rental profitable! Check the Apartment's Condition When a tenant informs you that he will not be renewing his lease, he must allow visits from potential tenants. However, it may be best to start by checking that the apartment is in good condition. This will give you the opportunity to ensure that you provide decent housing to the future tenant, while protecting the rental investment. This might be a good time to do some renovations to the apartment before renting it out and arranging viewings. This will allow you to increase the price of the rent. In any case, it is important to check that the apartment meets building standards. Set the Price of the Rent Be sure to research the market and consider similar units, location, amenities, and other factors that could affect the cost of rent. You want to set a fair rental price that will attract quality tenants while generating profitable rental income. Marketing To rent your vacant apartments, you must advertise them. You will need photos and an attractive description of the apartment. As for the photos, make sure they are of good quality. This will have an impact on the perception of potential tenants. Beautiful photos will attract more visitors. This will make it less difficult for you to rent the apartment. With a convincing description and beautiful photos, you will be able to promote the apartment on different platforms. Social networks are also good promotional tools! Choosing Tenants You are now at the visit stage! Potential tenants will want to see what the apartment looks like. If a tenant is still living there at this time, you will need to inform them of the scheduled viewing dates. They will then be able to do a minimum of cleaning before. Obviously, it is important to carefully select the future tenant who will settle in the apartment. For this, you can check their background, their credit report, and the references from previous owners. You will have a better idea of the type of tenant they are. You will be able to see if they are [...]

Producing RL-31 Statement: When and How? – Hopem

Producing RL-31 Statement: A Owner's Guide Producing the RL-31 statement is a requirement from Revenu Québec that all owners or managers of rental properties must adhere to. This process ensures compliance and transparency towards tenants. Understanding the steps and best practices of this task allows for smooth navigation through fiscal and administrative complexities. Our guide offers a clear overview to master this essential process. Download the Revenu Québec guide Understanding the RL-31 Statement If you are a property manager or owner of a rental property, you will need to fill out the RL-31 statement every year as part of your year-end tasks. This document informs Revenu Québec about the rental situation of a property as of December 31st of the relevant year. You will need to detail the following information: Unit number (unique) Number of tenants Complete address of the rented unit Tenant's details and address at the bottom of the form Owner's details and address at the bottom of the form RL-31 for the Solidarity Tax Credit Application Tenants use the RL-31 statement to apply for the solidarity tax credit when filing their income tax returns. Production and Submission Period: December 1st to the last day of February Technically, the production period for RL-31 statements begins on December 1st each year. However, RL-31 statements must be produced for any unit where rent was paid or payable by a tenant or subtenant on December 31st. That's why our management software allows for RL-31 statement production in the first week of January. You have until the last day of February to submit copy 1 of the RL-31 statement (RL-31) to Revenu Québec. Simultaneously, you must provide copy 2 (RL31.CS) to tenants, ensuring compliance and transparency. Producing the RL-31 Statement: Our Practical Guide You must produce one RL-31 statement per unit. If you manage 20 buildings with 12 units each, you will need to produce 240 RL-31 statements. Here's how to do it in 3 steps. Before starting the production of the RL-31 statement, it is essential to gather all necessary information. This includes: Preparer number and statement numbers: Provided by Revenu Québec. If you have produced RL-31 statements in previous years, you already have your preparer number. Unless there is a significant change in your property portfolio, you won't need to request it every year. Address of each unit: Ensure you have the complete address of each apartment (number, street, apartment). Owner's addresses: Record the owner's addresses correctly (number, street, apartment). Tenant's addresses: You will need the complete address of each tenant (number, street, apartment). Correctly filling out the RL-31 statement is essential to ensure compliance with Revenu Québec's requirements. Here are the steps to fill out this form: The RL-31 statement consists of two copies: Copy 1 (RL-31), intended for Revenu Québec, and Copy 2 (RL-31.CS), reserved for tenants. For Copy 1, indicate the year, the statement code (R for an original statement, [...]

Lease Renewal Notice | HOPEM

Lease Renewal Notice: Your Guide for the Renewal Period As the year comes to an end, it's time for property managers to prepare their lease renewal notices! With leases mostly ending on June 30th, it's time to plan these notices to meet the legal deadline. To help you prepare, we discuss notice of changes, rent increases, and your rights and responsibilities. Lease Renewal, Administrative Housing Tribunal In Quebec, the management of residential leases is governed by the Tribunal Administratif du Logement (formerly the Régie du logement). This law clearly defines rules regarding lease renewals, including those governing rent increases or lease modifications. Note that a residential lease is automatically renewed when it expires. Thus, if you forget to send a renewal notice to your tenants, their lease will be renewed under the same conditions. If you wish to make changes to the lease, such as a rent increase, you must send a renewal notice. It is crucial that the renewal notice not only meets the deadlines but also follows the format and content prescribed by the law. Failure to meet these requirements can lead to legal consequences, including the invalidity of the notice or disputes with tenants. Timeline for Submitting a Notice of Lease Condition Modification The landlord or property manager is required to send a lease renewal notice to tenants within a specific timeframe before the end of the current lease. The timeframe depends on the type of lease. For example, for a lease of 12 months or more, the notice must be sent 3 to 6 months before the end of the lease. For a lease of less than 12 months and for an indefinite-term lease, the notice must be sent 1 to 2 months before the end of the lease period. Sending and Proof of Receipt of Lease Renewal To avoid any ambiguity or dispute regarding the receipt of the lease renewal notice, it is essential to adopt a sending method that allows confirmation of receipt by the tenant. Here are some recommended methods to ensure reliable proof of receipt: Sending by registered mail: One of the safest methods is to send the notice by registered mail. This method provides traceability and proof of receipt, as the tenant must sign to confirm receiving the document. Hand delivery with acknowledgment of receipt: Handing the notice directly to the tenant is also a viable option. In this case, it is advisable to ask the tenant to sign an acknowledgment of receipt. This provides tangible proof that the tenant has received the notice. Use of electronic solutions: Tools like electronic leasing can not only send the notice electronically but also track and confirm the exact moment when the tenant opened the delivery. We advise you to carefully evaluate the costs (in time and money) of each of these options to make an informed choice based on your needs. Some may take more time and/or [...]

Resident Satisfaction: 2 Aspects to Improve with the Right Software – HOPEM

Improve Resident Satisfaction with Care Management Software The well-being and satisfaction of residents should be at the heart of the concerns of managers of senior living residences. It is a key indicator of the quality of services offered. However, achieving a high level of satisfaction is not an easy task. It requires a resident-centered approach, effective communication, and optimization of the services provided. In this article, we will address this topic and introduce you to our care management software. Discover how using this software can improve communication with residents and their families and how it can help provide better quality services to residents, thus contributing to their well-being. Resident Satisfaction, a Major Concern for Senior Living Residences In senior living residences, resident satisfaction is a significant concern that has a significant impact on the establishment's reputation. In an increasingly competitive market, resident satisfaction is a key factor in standing out. Residences with satisfied residents and their families have a better reputation, attract more admission requests, and achieve higher retention rates. No residence wants to make headlines for the wrong reasons. Furthermore, resident satisfaction influences their physical and mental well-being. A satisfied resident is generally more engaged in daily activities, more likely to participate in care and well-being programs, and tends to have better overall health. Families seek establishments where they can be assured that their loved ones will be well cared for and happy. Improving resident satisfaction is not only a matter of ethics and quality of care but also a savvy business strategy. Key Concerns Named by Senior Living Residents While most senior living residents express satisfaction with their residence, there are still some concerns: Residents and their families paying for services they do not receive Lack of communication between staff and the resident's family Difficult communication or lack of listening from the administration Feeling disrespected High service costs Meal quality Lack of activities and leisure Perception of incompetent staff Shortage of staff Many of these issues could be improved with the help of suitable care management software. 2 Aspects that Good Care Management Software Can Help Improve Technology plays a crucial role in improving resident satisfaction. It allows for the enhancement of services provided to residents and facilitates communication within teams and between the residence and residents' families. Here are two key aspects that good care management software can help improve and are directly related to resident satisfaction. 1. Better Communication with Residents and Their Families Good care management software can significantly improve communication between caregivers, residents, and their families. This can help reassure families about the quality of care their loved ones are receiving and lead to better reviews from them. Additionally, this transparency in exchanges can also help build a trusting relationship between caregivers and residents, contributing to greater resident satisfaction. The features included in the software allow, among other things, to: [...]

Discover the new Extractor Module!

Discover the new Extractor Module This new module allows you to access the vast majority of the data tables of your Primmo software, to select the ones from which you want to extract the data and to choose which ones to use. Any extraction can then be saved as a model in order to be able to repeat the operation, standardizing the results obtained. Once everything is extracted, you will have an Excel file with which you can immediately analyze this data. No data cleaning will be required in Excel. Discover the new webpage dedicated to the Extractor Module Learn more about this module thanks to this video (in french, english is coming soon)  

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