INITIAL CONSULTATION
We start by listening to your property, goals, and management needs. Talk to management one-on-one to meet us and fully understand your options.
Talk to Real Person 1 (888) 866-8848
Residential Rental Management
Calgary, Edmonton and Fort McMurray
Looking for reliable residential property management in Edmonton, Calgary, or Fort McMurray? Race Real Estate Inc. helps landlords and real estate investors manage rental homes, condominiums, and apartments with a performance-based approach designed to protect their investment and simplify rental ownership.
Pay for actual performance.
No fee before we work.
We get paid when you get paid.
No renewal leasing fees.
No Hidden Fees.
Maximizing Returns, Minimizing Stress
We don’t just manage properties; we protect your investment and maximize your cash flow. Our end-to-end management includes:
- Rigorous Tenant Screening. Since we only get paid when you get paid we are working to avoid bad tenants as badly as you want to avoid them.
- Rent Collection: No more awkward conversations. This is what we do – handle the interactions that cause both you and the tenant stress. Keeping dignity while maintaining a healthy pressure for on-time payments.
- 24/7 Emergency Response: We partner with licensed, insured local contractors in almost any situation at any time to get priority service at fair prices. You get quality work without the hefty markup.
- Legal Experience: From local landlord-tenant laws to strict lease agreements, we keep your property fully compliant and handle any legal friction so you don’t have to.
HOW IT WORKS
At Race Real Estate, we make property management straightforward, transparent, and effective. Our process is designed to protect your investment, reduce your workload, and maximize your rental income—whether you own residential, commercial, or condominium properties in Edmonton, Fort McMurray, or Calgary.
OUR STEP-BY-STEP PROCESS
01
02
SERVICE AGREEMENT
Once you’re ready, we provide a clear and concise management agreement.
03
MARKETING & TENANT PLACEMENT
If we are serving you for rental or leasing purposes we market your property through targeted channels to attract qualified tenants quickly. Our proven screening process ensures responsible, reliable occupants.
04
PROFESSIONAL MANAGEMENT BEGINS
From fee or rent collection and inspections to maintenance and compliance, we take care of every detail. You get regular updates and full transparency.
05
24/7 MAINTENANCE & EMERGENCY RESPONSE
We handle all repair requests and emergencies promptly, keeping tenants happy and your property in top condition. You can use our vetted contractors or we can work with yours.
06
ONGOING PERFORMANCE & SUPPORT
You’ll receive consistent reporting on rental income, expenses, and property status, ensuring your investment is performing at its best.
How we are different
How we are different.
We price our service to match and motive our performance.
Since we do not charge anything up front we don’t get paid until you get paid.
If we have an existing tenant but they haven’t paid rent yet then we don’t paid until rent is collected.
We don’t get paid extra to deal with tenant caused issues.
And we are on a percentage commission.
Thus we have to balance these three things.
- How soon (to get paid).
- How much (how much we get paid).
- Fewest problems (because we get paid the same amount regardless of the issues).
So – we have every incentive to rent out your home as soon as possible, for as much as possible, to the best available applicant.
As such we take professional pictures (not cell phone pictures).
We advertise each property individually.
And we pre-screen applicants, then do a background check to avoid poor tenants.
our pricing
Our pricing is very simple.
The greater of $150 or 10% a month. Plus $585 one-time new tenant fee
But only when rent is received.
No Rent = No Fee.
ZERO up front fees. We perform our work and get paid after it is accomplished.
So you are not losing even more money while your property is vacant.
This fee is one time and if the tenant stays it is never charged again.
If the unit is vacant there is no fee.
If the tenant does not pay rent there is no management fee until we collect rent.
- ZERO Surprise Fees
- ZERO Startup or Setup Fee
- ZERO Advertising Fee
ZERO Inspection Fees (free move-in/out plus 2 inspections/year. Issue related inspections are also free)
Discounts Available for 3 or more units or single dwellings that rent for more than $2500/month.
Additional Fees: You would NOT be charged these without first discussing and giving permission. And they are not mandatory, they are request you would ask or need of us outside of our normal management duties. Non-core service fees range from $50/task to $150/hr depending on the task. An example would be if the owner had an important parcel accidentally sent to the rental property and they needed us to go get it, then to put that parcel in another mail service to the owners correct address. Often we do this type of thing without cost if we can coordinate it with other tasks in the area but technically this type of thing is not part of property management.
Some tips on how we do things that you can use too:
the order of things: before you rent out the property
01
Read the residential tenancies act and the government help sites so you understand the rules.
02
Make sure the home is in proper condition for a tenant.
03
Take good advertising pictures or hire a photographer to do it. It needs to be wide-angle and a good phone is not wide enough without an adapter. Even then it is not usually good enough but it may give you time.
04
Look at what other people are asking for similar units. Remember these units are vacant and NOT a good indication of what tenants are really paying. But it does give you a starting point. If the market is bad we strongly recommend under-pricing the other people. Vacancy time will cost you more than the lower monthly rent. Have a look at our How to Price page.
05
When people call you always pre-screen before showing them the property.
06
Always use a lease and both of you and the tenant sign it. Always provide them a copy ASAP.
07
Always collect both the Security Deposit AND the Rent before you hand over keys. Do not be tricked or accept excuses or sudden emergency reasons.
08
Always do a move-in inspection and both you and the tenant sign it, and give them a copy ASAP. Consider using an inspection app on a phone that can include pictures.
09
When they move-out always do a move-out inspection with the tenant ASAP. You only have a total of 7 days from their move-out to do this. If they don’t contact you you need to give them 2 appointment options then do it yourself and send them a copy. Ask for a forwarding address.
10
After the move-out you have 3 more days (10 from their move-out day) to mail them the Security Deposit Statement and any refund. If you do not know the costs you can write in estimates and then you have another 20 days to get a final proper Statement with actual receipts. You must mail the tenant the Statement by regular post. Keep your receipt or take a picture of mailing it. If they have not provided a forwarding address then mail it to the “last known address’ AKA the rental property they just moved out of.
choosing your tenant
We always pre-screen. This is the first thing we do:
“If it’s OK we have a few questions before we make an appointment.
Do you have a job? How many working adults would be living there? What are the weights of any pets? When would you move in? And how long can you stay?”
This eliminates most incompatible tenants. And, as a second benefit – when tenants cease to respond immediately it has inevitably been because they realized you are going to do a full application later, which they won’t likely pass.
As for the full application the most important things are their photo ID and paystubs. You need to verify the person is who they say they are, especially if you ever need to go to court, and you need to verify how much they make and from where.
dealing with non-payment
Consistent and follow simple expectations.
If they are late we call them and ask for the rent. Do this without attacking words. And try to reach them informally before dropping off a formal eviction notice.
Ask them if they can pay even some to show they are trying. Something shows they mean it. Nothing is a really bad sign. Usually 2 weeks delay is reasonable if they show effort.
If they do not pay in 3-5 days(regardless of if they respond to you) give them a 14 notice of eviction due to unpaid rent. We also recommend posting a separate notice of inspection and go check on the property properly. If they are causing significant damage you can use a 48 hour eviction due to the damages if you feel the need. Make sure you follow the rules about the notice or they can ignore it. If they respond then consider waiting the 14 days before doing anything else. If they do not respond consider opening a court file sooner than later.
This may surprise an owner but empathy and a firm approach is the balanced approach. If you start threatening a tenant in your fear of what they are doing you will emotionally exhaust them. If a tenant has not paid rent or are causing other problems, even if they seem just to be stubborn, more likely they have other stresses going on.
By taking an attacking approach they are more likely to fight back, and leave your walls with a few holes.
Show gentle understanding that you understand that life is hard, that you would love to help but cannot afford it because the bank won’t give you a break in turn. Even in the eviction letter show some expression that you sincerely regret it and hope it works out. They are not usually likely to leave the home cleaned but they do not usually beat it up.
If there are ongoing issues during the tenancy you need to address them as they happen. If you wait until the end and try to deduct it from the Security Deposit you may not be allowed. The court expects you to have requested payment as issues occur. They do not accept avoiding conflict.
Move In and move out inspection
The move-in is extremely important. If you don’t have one you cannot charge the tenant for any damages caused.
We recommend using a photo based inspection application on a phone. Something that takes pictures, ads notes and accepts signatures.
If you don’t do the move-out you might still be able to charge them but you won’t be allowed to deduct it from the Security Deposit.
Maintenance
Our main number 1-888-866-8848 provides options for tenants to reach someone 24/7
We do have contractors for virtually any and all needs.
The most common problem we have is getting good contractors to look at jobs less than $500. They will require a call out fee, which is anywhere from $75 to $140 even before they do anything. If we try and fight these call-out fees then the contractor will not service the property again, and worse, they may not service the property manager again. For this reason we disclose in our service agreement the call-out fee. Again, this is not from us but from the contractor.
Quality of contractors. We must use larger and more organized providers. We have to use contractors with enough employees to be available when needed. Contractors also need appropriate licenses and more importantly insurance. In the event an issue goes to insurance a proper licensed contractor must be qualified to write reports. Some small one-man contractors may be cheaper but they are often not available when needed or they do not have sufficient business insurance for liability reasons.
The Residential Tenancy Act REQUIRES owners do appropriate maintenance. This is not really subjective. We have found this includes having walls in good repair and all baseboards on. If a property is not well maintained a tenant can ask the courts for abatement (a discount) and generally the court will give them something even if the maintenance is small.
Here are some Self-Help Resources
Frequently Asked Questions
Our published monthly management fee is the greater of $150 or 10% of rent collected. A one-time new tenant fee of $585 also applies when a new tenant is placed, according to the published pricing terms. Contact Race Real Estate to confirm the total cost for your property.
Under our published No Rent = No Fee policy, there is no monthly management fee while the property is vacant or until rent is collected. Other agreed fees, if applicable, are governed by the management agreement.
We start by simply reminding the tenant as if the reason the payment is late is just a mistake. From there a lot of depends on if the tenant responds and what they say, and if they commit to a payment time and keep it. Then a payment plan if reasonable.
Finally we will bring the file to the Landlord and Tenant court but usually with the option to stay if they can pay.
Services include rental marketing, applicant pre-screening, tenant placement, rent collection, tenant communication, maintenance coordination, and specified property inspections. Refer to the management agreement for the complete list of included services and any exclusions.
Yes. Tenants can use the main phone number, 1-888-866-8848, to access the 24/7 response options. The team coordinates emergency maintenance requests with appropriate contractors, subject to availability and the circumstances of the issue.