Frequently Asked Questions
Property Management Services

Hearthstone Property Management offers dependable, ethical and transparent property management services in Red Deer and surrounding areas.

See a list of frequently asked questions about our property management services below.

Still have questions? Please don’t hesitate to contact us with any further questions.

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Our Services

How much do you charge to manage my property?

We set our rates based on what you need us to manage, where it is located, the condition and how many suites you have.  We will not take on management of a property that is very outdated or in poor condition if there is no intention of modernizing or raising the quality of the property to meet our standards.

What do I get for my money?

You get to go anywhere in the world you want and expect to receive both your financial statements and your money without being involved in any of the day to day activities of managing your property.

We handle the marketing, phone calls, showing the suite, accepting the Offer to Lease, researching the applicants’ background, tenant selection, preparing and executing Lease documents, completing the move-in inspection, rent collection, provide 24 hour emergency service to your tenant, determine necessary repairs and who is responsible to pay for those repairs, providing care to the tenant and the suite, completing the move-out process when the tenant moves out, provide accurate timely financial statements and funds to you.

What kind of commitment do you need?

The contract runs on a one year basis.  There is a buy-out clause if you need out of the contract early.

How and when do you send my funds each month?

We direct deposit your funds by the 4th banking day of the month.

When do I get statements?

We forward the Digital Statements by the 3rd business of the month and Paper Statements within the first 15 days of the month.

How do you find tenants?

We advertise as we feel is most effective for that Property – internet, site signage, newspapers.  Potential tenants also contact us directly because we are a management company with a great reputation.

How long does it take to find a tenant?

Anywhere from one day to several weeks.  It depends on the demand for that specific type of property combined with market conditions, condition of the property, price and other particulars a specific property may have.

How do you screen tenants?

We check landlord and personal references, we verify their income and we do a credit check. Sometimes Google also has information to add.

Can I choose my own tenant?

Yes, but we have selected thousands of tenants leading to thousands of successful tenancies so you won’t have to.  You can instruct us who your next tenant will be if you have someone lined up.

What do you do if tenants don't pay rent?

We issue eviction notices to anyone who hasn’t paid their rent sometime during the first week of the month.  This serves as a written reminder and also sets a very specific time in which rent must be paid (14 days).

Do I approve all repairs and upgrades?

We will contact you for all repairs over $500.00 with the exception of an emergency situation that requires immediate attention.

Who arranges repairs?

We do.

Who pays for repairs?

The owner pays for regular maintenance items, tenants pay for damages or situations they created.

Can I arrange my own repairs?

Not for repairs under the $500.00 threshold.  We have several contractors and companies that we know we can rely on and that know what information and procedures we need to meet our standards. If we contact you for any repairs or items over $500.00 we will follow whatever instructions you have at that time.

Do you get quotes for repairs?

It depends on the size and the type of the job.  We do have a lot of work done and over several years have put together a list of trusted contractors who stand by their work and charge reasonable rates.  We will not get multiple quotes on small simple jobs.

Do you ever inspect my property? Can I?

We inspect every property about every six months if everything is going well.  If we have reason to believe there may be an issue inside the suite we will inspect as needed. Owners are encouraged to visit their properties every year.

Will I need to be in contact with my tenants?

If you wish to contact them you may. However, if you hire us to represent you there shouldn’t be any need.

Other Resources

We have compiled a list of resources regarding the tenancy act, security deposits, and housing standards. See below for links that may be of interest.

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