People with money to invest are turning to real estate across North America because, while we might produce a shocking range of products here, they can’t make new land. Housing is as reliable an investment as there is.
However, not everybody has the skills, know-how, or time to fulfill their obligations to tenants. If you need help running your investment property, here are the reasons to call a professional.
Better Tenants in Less Time
Amid all the tenant applications and interviews, do you know how to spot the red flags? The difference between a responsible, mature tenant who pays on time each month and a nightmare tenant are enormous.
Find an A+ tenant sooner by hiring the best property management in Toronto to give you a boost. Their four-step tenant vetting process involves employment letters, credit checks, reference checks, and a tenant application.
Homeowners can still enjoy full control over who lives under the roof, as they’ll approve a pool of the best candidates.
Maintenance Support All Day, Every Day
Even on nights when landlords aren’t called away to deal with an issue at their property, they have to go on living knowing they can be summoned at any given second. Property managers change this up by acting as a go-between.
If something needs to get repaired or attended to, the property owner won’t get disturbed. Instead, the tenant calls the property manager, who then draws on the professional contractors in their Rolodex to find the most suitable candidate.
Next, the property manager will inform the homeowner of the issue and present them with three options at different prices. Homeowners get transparency and timely repairs without having to sacrifice their free time.
Tenant Relation Services
When the people under your roof are satisfied, they make better neighbours and tenants. Professional property management companies tend to all their needs, so they feel protected and cared for.
They will handle payments, facilitate and fulfill maintenance requests, and more. Your best tenants will re-sign lease after lease when they feel like their needs are met. As a landlord, the odds are lower you’ll have to replace another A+ tenant.
Marketing
Finally, landlords may feel proud of their home, understandably. But what they value in it may not always align with the market. Professional property managers know from first-hand experience and raw data what today’s buyers want.
With their help, your home will look its most appealing given the tastes and preferences of today’s market. They will circulate the listing on their social media and perhaps even get it published in magazines like Toronto Life.
Your home will put its best foot forward when you have the assistance of professional property managers.
Being a landlord used to be a tiring job requiring constant availability and building skills around the home. Now, any investor can do it by calling a professional property manager to do the heavy lifting so you can enjoy your spare time after work, on weekends, and during vacations.