Hello From Sage Living!
We are starting off the New Year with our second monthly newsletter created to keep our Clients up to date on important news for the month of January.
Before we jump in, we wanted to take a moment to wish all of our Clients a Happy New Year! It is an honour to be your top choice in property management and we look forward to another year of serving you.
Keep reading below to stay informed and up to date on our seasonal programming and scheduled improvements.
Semi-annual Suite Inspections
Tenant Collections
Tenant Renewal Status
Early Bird Applications
Monthly Financial Statements
Semi-annual Suite Inspections
Our semi-annual inspections have begun! Between now and the end of March, our Sage Living team will be completing detailed inspections of each condo to document any damages found. Upon completion, each inspection will be reviewed by our maintenance coordinator to dispatch technicians and issue chargebacks to the appropriate party. As the landlord, you can rest assured that you will only incur maintenance fees for items deemed wear and tear.
To request a copy of your inspection form, please submit a request to our Sage Living Support Team by clicking the link below.
Tenant Collections
If the topic of inspections has you asking about our collection processes, we are one step ahead of you and have included more information on this topic below.
As soon as a tenant invoice has been created, landlords will receive an automated message including details of the amount owing, and thanks to our new Client Request Software, you will be provided with each development in real-time.
If the invoice due date has passed, our collections process is automatically triggered to issue reminders to the necessary parties. These reminders will be sent every three days until successful collection. While providing these reminders to tenants, our team will be simultaneously communicating with our Clients to provide accurate updates.
If payment is not collected within five days following the due date, landlords will receive an email notification including details on the outstanding amount and will be provided with suggestions on how to move forward.
Generally speaking, landlords have the option to independently initiate proceedings with the Landlord and Tenant Board or Small Claims Court. While our Sage Living staff cannot assist with these processes directly, we are happy to provide you with resources who can.
At Sage Living, we strive to cater to the needs of each individual Client. Regardless of the circumstance, our team is always here to provide you with ample support to navigate each unique case.
Tenant Renewal Status
The deadline for tenants to submit their renewal or termination notice has now passed. In the coming weeks, our management team will be reviewing all tenant submissions to ensure no errors have been made.
After the review process has been completed, confirmations will be sent to all Clients from our Sage Living Support Team.
We will be welcoming Clients to schedule meetings with our Sage Living Support team to discuss any questions or concerns related to the tenant’s decision to renew or terminate their lease agreement.
Further details will be provided to all clients via email.
Early Bird Applications
For the past several months, our rental agents have been working to collect Early Bird Applications from prospective renters for the coming rental term. We have received hundreds of applications from eager prospects and will be assigning suites based on availability.
After we have communicated all tenant renewal or termination decisions to our Clients, we will begin assigning suites and completing the necessary paperwork for all Early Bird Applicants.
You can expect to receive updates from our Client Support Team once a lease has been secured for your suite.
Monthly Financial Statements
Each month, our Clients receive financial statements sent from our system provider. Every so often, we offer these reminders to our clients to be sure you know what to expect.
Below we have included some helpful tips to navigate your financial statements.
Within the email sent to you from cdr@yardi.com, you will be provided with a link to access your statement. It is helpful to note that this account cannot receive incoming messages.
All statements will look relatively the same and will include the following information:
Statement Period: The month for the statement
Total Income: The total amount of income/rent collected during the indicated period
Expenses: The line items and deductions applied during the indicated period
Net Income: The amount of income less expenses
*Statements will also include Year to Date information
We have included an example below for your use:
