It used to be that landlords had to go it alone and take care of their own properties. They needed to be handy, resourceful people who could do repairs around the home or have a list of contractors who could do it for them.
Now, landlords can sit back confidently, knowing their property upkeep will be attended to and rent cheques will arrive steadily each month. Professional property managers make it simple. Let’s take a look at what their services do for landlords.
Find a Great Tenant
The difference between having a loud, problematic tenant and a quiet one who respects the property and pays their rent on time is enormous. One loses you sleep. The other lets you rest peacefully.
Look for affordable property management in Toronto to find you an A+ tenant quickly with their multi-phase selection process. They will check their employment letter to ensure the prospective tenant works where they say they do and has the income to comfortably pay rent.
Leading property managers will also do a credit check because seeing how they treat other financial obligations says a lot about how they’ll treat rent payments. A reference check helps them determine the character of the person renting in ways that paper methods don’t always reveal.
They will also sort through the tenant applications and bring you only the best prospects, which you can approve without qualification.
Historically, one of the most considerable burdens a landlord faced was being constantly available to fix emergencies in the unit. If a pipe burst in the dead of the morning on a weekend or holiday, tenants called the landlord, who had to drop everything and attend to their property right away.
Now, professional property managers will be there instead of landlords. The best property managers have a long list of contractors to fix every kind of problem with whom they have old relationships.
If something needs to be repaired, they will provide owners with three quotes at different price levels. The process is comprehensive and transparent. Ultimately, landlords can rest easy during their spare time without having to worry about the state of their property.
Experienced professional property managers know how to make your home look its best in advertisements, and they have the networks and connections to ensure the right people see it. They will send a photographer to ensure your home puts its best foot forward.
Then, they’ll post the listing on MLS, their own website and social media channels, and even glossy print magazines like Toronto Life. Qualified tenants can’t help but see your unit, and you won’t have to lift a finger.
Landlords are looking to maximize the value of their property without sacrificing their spare time. If you are looking to make passive income from your investment property and don’t have the time or repair skills to look after a home, contact a professional property manager to do it all for you.