If you are an owner entering the world of property management for the first time, it can be a daunting experience. There are many things to consider as a property manager, such as:
How will you find the right tenant?
- advertise property on many websites and MLS system
- pre-screen potential tenants before showing them the property
- have the tenant fill out an application, provide proof of employment and conduct a credit bureau report
- call the tenants previous landlords to inquire about their tenancy and HR department to ensure good standing at work
What will happen if something breaks or goes wrong at the condo or house and you are unavailable?
Where will you find reliable and trustworthy maintenance services to fix problems at the property?
How will you know if you are maximizing the potential of your investment?
How will you know what is happening at your property on a regular basis?
How will you market your property to potential tenants and how will you know what is a fair lease amount?
The advantage to hiring a professional property management service is that all of these concerns will be taken care of for you. However, we are unique in the way that we also educate you and keep you abreast throughout the process so you can remain involved without the major headaches involved with dealing with the day to day management of your condo or home.
Property Management Toronto provides marketing and consulting services, tenant selection services , 24/7 maintenance support (to handle those pesky calls at midnight when the air conditioner has broken or your tenant broke their key in the door lock) and also property management reporting.
Property management reporting is especially important because it allows you, as the owner, to remain involved without the stress and also keep informed as to what is happening with your property and also look for ways to improve you investment.