Investments like stocks don’t require any upkeep, maintenance, or services. You simply buy an asset and decide to hold or sell it as its value changes. Owning an income property is another beast altogether.
You own someone else’s home! Real people live under your roof, and like anyone, they’re going to have issues that landlords are ethically and legally bound by. Let’s take a closer look at the type of calls landlords get and how professional landlord property management makes them all disappear.
“Something is Broken in My Unit”
If you own an income property and go it alone, you’ll have to respond individually to every tenant complaining that something in the unit is broken. It could be a burst pipe that needs immediate fixing right away or a longer-term problem.
Either way, at any given moment, landlords can have their evenings, weekends, and vacations interrupted by calls about a needed repair. Instead, the leading Toronto property manager can take this off your hands by offering 24/7, 365 responsiveness to tenants.
Whenever tenants call, we’ll pick up. You can sit back knowing you can keep up with property maintenance, tenants will get great services, and you won’t have to sacrifice all your spare time.
Tenants tend to stay longer term when they’re satisfied and navigating tenant relations is easier with professional help.
“My Rent Payment is Coming”
Professional property managers insulate you from having to collect payments from tenants. Those calls can be awkward and unpleasant, and nobody really wants to deal with them.
The leading property management in Milton and across the GTA steps in for you, handling all payment collection, so you don’t have to. Sometimes payments outside of rent are required, and we’ll deal with those, too. For example, you may agree to pay for paint if the tenant resolves to do the labour themselves.
Property Management Toronto will oversee any money that changes hands, so you can know your finances are always in order without having to bother with accounts.
“Do You Help Promote Other Rental Properties?”
This is a call we receive from landlords looking to rent out other units, and we’ll make it go away by promoting yours! Property Management Toronto can maximize the number of people who see your unit by pumping it on our various social media networks and even glossy magazines, like Toronto Life.
We can come up with original ideas to promote your specific property as unique as the units themselves. You don’t need to hire an external photographer or stager to make your property look optimal.
Sometimes homeowners can be biased when marketing their property because they have personal attachments to this or that aspect of the home. You’ll be glad to have a neutral, objective opinion advocating for you, so your home will put its best foot forward in all the ads.
We are in touch with what the market wants and know how to present your property, so it matches people’s needs.
“My Unit Needs Something Replaced”
If a tenant calls because something is broken or worn out, they’ll call the property managers. Owners don’t need to deal with day-to-day issues that arise.
Depending on the unit, there may be features or amenities that need to be replaced as time goes on. No two homes are the same, so this may change depending on the specific rental. Such items may include microwaves, dishwashers, laundry machines, and more.
Perhaps a raccoon chews through the blue box, and the tenant needs a replacement, so there’s no garbage strewn on the street on garbage day. You may not mind dealing with one or two issues from time to time. But these calls can quickly snowball the more units you own and the more tenants who live under your roofs.
Look for Markham property management that will handle any and all calls for replacing and updating things in your units. We’re there to be the middle between you and every tenant, so they have someone accessible to reach, and you don’t need to bother with every call.
However, we’ll be in direct touch with you when the need arises, so you’re always kept in the loop without having the burden of people expecting you to pick up the phone or respond to the email.
Excessive Requests
Sometimes tenants raise very important issues that landlords have a legal obligation to sort out. Other times, their requests may be overreaching. If a tenant asks for unreasonable things that aren’t under a landlord’s purview, we’ll sort it out with them.
For example, if a pipe or the roof is leaking, you need to know right away! But you don’t need to be told whenever a tenant has a broken lightbulb that needs changing. Stay abreast of what matters without wasting time on what doesn’t.
You’ll find that being a landlord is much easier when you have responsive assistance and expert help but don’t need to have your time drained by unnecessary requests that shouldn’t get asked in the first place. When something is the tenant’s legal responsibility, we’ll let them know, so you don’t have to.
“Is This Legal?”
Finally, the laws around a landlord’s legal obligation change from time to time, especially during the COVID-19 pandemic and the ongoing housing affordability crisis. You didn’t buy an investment property just to do a deep dive into the law and keep tabs on how it’s changing.
We have years of experience in local real estate markets. Property Management Toronto always ensures you’re in full compliance with the law and makes staying so effortless.
If you have any other questions about how we’d answer the above questions or other ones, don’t hesitate to reach out.
Ideally, income property owners would like to buy their home and have it run itself. We only exist to make this turnkey solution a reality, so hire Property Management Toronto today.