Celebrating 30 years in business, Vancouver Island-based Penny Lane Property Management has announced an expansion into Greater Victoria’s real-estate market from the company’s central Island base in the Comox Valley, according to the ownership team.

 

Founded in 1995, Penny Lane (view website) co-owners Scott Crisp and Nick Coleman have announced an upcoming opening of the company's new office at Haultain Corners in Victoria’s Oaklands neighbourhood.

 

“Penny Lane has deep roots on central Vancouver Island with a long history of client-focused, value-added property management services between Campbell River and Courtenay,” Crisp says. “This year, we made the decision to expand our presence into the Capital Region, to help our existing clients manage their assets on the south Island, and extend our unique approach to management services to the Island’s most diversified real-estate market.”

 

Crisp notes that Penny Lane’s arrival in Victoria was met with enquiries from landlords and asset management firms seeking owner-focused, affordable options for local property management services, and looking to build a relationship with an established partner on Vancouver Island that can assist with their growing portfolios north of the city.

 

“One of the key takeaways for us as we announced our expansion into Victoria and began liaising with clients, is Victoria investors with holdings elsewhere on the Island are keen to work with a local company that can oversee their buildings in other Island communities, and help bridge some of the gaps in the industry from the perspective of a landlord with an Island-wide portfolio,” Crisp said.

 

With approximately 400 units under management at-present, Crisp and his colleagues oversee a variety of property types that range from multi-unit strata complexes, to individual rental units, and commercial properties. Smaller, more nimble and client-focused solutions like those of Penny Lane appeal to strata councils and smaller landlords, Crisp says, that may benefit from guidance and personalized services which can be difficult to procure among larger firms.

 

“In addition to growing demand for property management capable of providing Island-wide services, we’ve also heard from landlords in Victoria how the market here is ready for a more responsive, cost-conscious and service-first property and strata management alternative, and we’re excited to provide this option in Victoria, built on our decades of experience and relationship building,” Crisp said, adding that Penny Lane’s new Victoria office is expected to complete construction early next year.


 

To emphasize its client-focused culture, Penny Lane has no cancellation terms with its clients, meaning each month of services are judged through performance and client satisfaction. Crisp says the firm’s mantra is to earn the business of its clients with no long-term obligations, making Penny Lane a truly unique alternative to property management which often comes with long-term obligations irrespective of outcomes for the client.

 

Furthermore, Penny Lane’s decades in business has helped it grow relationships with vendors to ensure fast, reliable and professional maintenance services when needed. And third-party support through preferred vendor pricing and scheduling priority – two key markers that can make a significant difference for a client’s bottom line, particularly when response times and solutions are of critical importance – can help grow asset values and maintain leaseholder satisfaction.

 

In terms of services for Victoria’s real-estate development and realtor communities, Crisp points to the company’s readiness to mobilize for post-construction property management of rental and condominium buildings up and down the Island, together with lease-up oversight if required, which can be leveraged “like no other property management service on the Island can," Crisp notes. These services can then be extended to assist strata councils’ post-occupancy. With 30 years of relationship-building, experience and strong client retention on Vancouver Island, Penny Lane is poised for growth as it expands into Greater Victoria with licensed strata and property managers committed, as Crisp says, “to doing good business." Penny Lane's ‘A-team’ of local talent is driven to excel at surpassing client expectations through a “raise the bar, and make property management something to be proud of” central tenet at the core of the company’s values.

 

To learn how Penny Lane can become a trusted partner in achieving your real-estate goals on Vancouver Island, or to assist your strata council from Victoria to Campbell River with managing any size of strata property, connect with Scott Crisp or Penny Lane’s Director of Business Development, Dominic Arthurs, by visiting Penny Lane's website here. 

 

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