Being a landlord is about much more than just sitting back and cashing in monthly rent cheques. At any point in time, your tenants may have an issue that needs to be dealt with quickly or a repair that needs fixing.
Many consider being a landlord to be a second job. If you could use some help, read on to learn about what professional property management companies can do for you.
Tenant Selection
How do you know that the stranger moving into your property is reliable and trustworthy? Industry leaders like Property Management Toronto have their own thorough vetting process, so you can feel confident that your property is being respected.
They’ll ask the right questions, sort through the candidates, and only show you the best applicants. Their multi-layer process involves:
- Employment Letter — this document confirms they work where they say they work, which indicates reliable income
- Credit Bureau Report and Credit Check — a person’s credit score is a valuable indicator of their level of responsibility
- Reference Check — who is vouching for this tenant, and what are they saying about them? Professionals talk to personal contacts and past landlords.
24/7 Support
Sometimes owners and tenants run into issues at odd hours of the day or night. No matter when a problem arises, property managers are there to solve them.
This level of availability may be impossible for landlords to provide, especially if they work other demanding jobs or want to have their weekends and evenings to themselves. Even if there are no issues that arise and everything is smooth sailing, just knowing that your tenants have a person they can call if something were to come up gives you peace of mind you can’t get any other way.
Great Pricing and Service for Maintenance
The best property managers have a fair and transparent system in place to deal with maintenance requests. When there’s an issue with the property, they’ll troubleshoot the problem with you for free.
Then, they’ll call on an extensive list of qualified suppliers and return to you with three quotes at three different price points. You don’t need to worry about having someone handy on speed dial, as there’s always expert help available any time you need it.
Advertising
Knowing how to promote your unit is its own skill, and it’s time-consuming. Professional property managers have the experience to ensure your unit puts its best foot forward in ads and can showcase your ad on their online and offline platforms.
Tap right into their social media pipeline, and see your unit advertised in magazines like Toronto Life. This type of profile may be hard to get without insider contacts, but it’s easy when you’re working with the best professionals.
Landlords provide a home for someone, and that involves responsibilities and giving a considerable amount of time. This may be difficult, stressful, and eat up what little spare time you have. If you need help being a landlord, contact a professional property management company.
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