Toronto Condo Apartments Are an Investor’s Dream Right Now

Benefits of Having Your Property Professionally Managed

Posted on September 5, 2017 by pmtadmin

As a landlord you’re going to have enough on your hands to deal with without also having to worry about the day-to-day operations of a property. When a tenant’s plumbing system backs up in the middle of the night and an emergency repair team needs to be called in, it’s great to know that the property management company will be called instead of you.

It’s hands-off for the landlord

As long as you find a responsible property management team that you can trust, managing your building will almost be a completely hands-off proposition for you. The business will take care of all of the minor and major problems that come up and will just let you know how they will be successfully handled. All you’ll have to do is make sure that the professional company you hire can be relied on to do a good job without a lot of intervention from your end.

Tenant selection and screening

Tenant selection and screening can be a tedious and time-consuming process for any landlord. The procedure includes running a credit check on the applicant, verifying the employment information and checking the references provided.

A property management company can oversee the administration of the entire leasing process from start to finish. The services provided may include the following:

  • Lease preparation
  • Tenant selection and screening
  • Timely collection of rents
  • Lease renewals
  • Lease terminations
  • Rental increases
  • Negotiating year-term tenant renewals
  • Collection of the first and last month’s rent
  • Collection of a security deposit
  • Turning over the keys
  • Ensuring the unit has been vacated and has been left in good shape
  • Accepting the keys back once the lease has been terminated

Vacationing homeowners can enjoy peace of mind

If you’re planning a long trip and need someone to watch your house while you are away, you should use a professional company such as Property Management Toronto for extra peace of mind. Counting on friends or relatives is never a good idea if you’re going to be away for an extended period of time. If anything should happen to the person that is left in charge of your home while you are away, you’ll have to step in and make sure that things get resolved. A lot of different situations can occur in life and leaving the charge of your home to one individual is never a good idea.

If anything should happen to your home while you are away you’ll have an easier time working things out with your insurance agent if you’ve been using the services of a professional company. There will be logs and reports showing that your home was being maintained and monitored during your absence, which keeps things simple when dealing with an insurance claim.

There are a lot of things that can go wrong with a building and a professional management team knows how to spot potential problems before they have a chance to grow into larger ones. Hiring a property management company gives you the security of knowing that your building or residence will be cared for properly and efficiently, which translates into less stress and worry for you.