When you need a property management company there are certain expectations that you’ll have and want fulfilled. Here are some of the most important services and features that any reputable property management business will supply to its clients:
Expert knowledge of the Landlord and Tenant Board Act
Government legislation continually changes in regards to tenant and landlord issues. As a landlord you need to be protected from these changes and any new laws from that come into effect must be reflected on your contracts. Just one unknown change in the Act can make the difference in your liability status as a building owner.
24/7 on call service
A property company needs to be on call to handle tenant issues and emergencies at all times of the day. Leaking pipes that can quickly damage the flooring structure don’t always happen during the 9-to-5 hours. You’ll need a company that is committed to providing emergency services at all hours of the day. Unanswered calls for maintenance and rental inquiries damage your image and the relationship that you have built up with your tenants for reliable service.
A great property management team of professionals will put together a strategic plan for advertising your building based on its own assets. It won’t a use cookie-cutter approach but will rather custom design advertising that will attract the best type of tenants to your building to help keep it full.
This is the most important aspect of any company that is dedicated to property management. This business will act as the link between you and your tenants and you will want to be represented in the best light possible. A professional and understanding approach is needed to keep the communication lines open so that tenants can feel safe contacting the company at any time for any reason.
Rigorous tenant selection
The company must screen potential candidates using state-of-the-art proven techniques that include reference checks, credit checks and employment checks. When you maintain high standards in your building you can expect less damage, on-time payments and a better atmosphere inside the building, which tends to keep happy tenants living there longer.