Some people become landlords because they think they can simply sit back and receive monthly cheques. As anyone who has ever worked as a landlord knows, it’s time-consuming work that never ends.
If you’re a real estate investor looking to simplify your life, you need a property management company working for you asap! Here are just some of the ways they can make a difference.
A+ Tenants, Quickly
A landlord with an A+ tenant can rest easy, knowing their beloved properties will stay in good condition and monthly cheques will arrive. Nightmare tenants may be irresponsible and destructive towards the unit and physical property inside, and sometimes they withhold rent or fail to pay on time.
Leading property managers have a comprehensive four-step process they follow to secure great tenants in less time than it would take you. Usually, this entails reviewing an employment letter, credit check, reference check, and tenant application.
Homeowners can relax while the property management company does the heavy lifting. Then, when presented with the best pool of tenants, they can approve whichever they like without supplying a reason.
The last thing a landlord wants to do is sacrifice what free time they have after work to deal with tenant issues or make repairs. Imagine living knowing that at any given second, you could be compelled to drop what you’re doing and attend to your property! It’d be hard to enjoy your evenings, weekends, or vacations, right?
Professional property managers take this off your plate by assuming all the responsibility and dealing with the logistics. If something in the unit needs repairs, the tenant will call the property management company rather than the owner.
The property manager will tap into their deep industry connections and give you three options for repairs at different prices, so you can pick whichever vetted contractors suit your budget and preference.
Your property will remain in better shape, and it won’t take time from your day — or for that matter, your evenings, mornings, weekends, or vacations.
Homeowners have understandable attachments to their property, which can impact their ability to market it impartially and effectively. Property managers are experienced professionals who have years of first-hand experience and loads of data telling them what the market wants.
They’ll help you put your home’s best foot forward when it comes to marketing the property. Leading property managers will plug your home into their social media feeds, where it’ll be seen by the right people.
Some even have connections to glossy magazines, like Toronto Life, so your property could be the next feature in their weekly section.
Real estate investors buy homes for profit, not to take on all the responsibilities and tasks associated with being a landlord. Knowing how to fix a home or even having contacts with responsible, professional contractors isn’t something everybody possesses. If you’re a landlord feeling overwhelmed or simply too busy to fulfill all your duties in full, call a property management company today.