Investors and landlords who find themselves searching for a professional Oshawa property management company should have high expectations for how that management company will operate. You’re looking for consistent rental income, decreased expenses, and a pleasant, profitable investment experience that requires very little hands-on work from you.
Any full-service property management company should provide more than the basic services of rent collection and tenant placement. You should expect all the expertise, resources, and advice that you want from experienced professionals.
Marketing, Screening, and Leasing Services
Successful rental experiences start with high quality tenants. You can expect your management company to find those tenants with a good marketing strategy, an excellent commitment to communication, and an awareness of the local market.
You should expect a deep knowledge of what rental values currently are and what you can earn in rent with your own investment.
A good management company will understand marketing and the importance of online advertising. You should have access to professional photos, well-written descriptions, and listings that will grab the attention of potential tenants. Your management company should respond to questions and messages swiftly and schedule showings that are convenient for potential renters.
You’ll need a thorough application and screening process that follows all rental laws.
Expect Responsive and Cost-Effective Maintenance and Repairs
Property managers will respond to routine and emergency maintenance situations, and they should also keep an eye on preventative maintenance. You don’t want to replace your heating and cooling unit every few years, and you should expect your management company to keep your maintenance costs down. They should partner with preferred vendors who are not only licensed and insured but also offer discounts and provide outstanding workmanship.
You need a property manager who is prepared to respond to emergencies and tenant calls 24 hours a day.
Lease Enforcement and Rent Collection
The day-to-day management of your investment property is an essential function of your property managers. This includes lease enforcement and rent collection. You should expect your management company to provide online electronic rental payments as well as disbursements to you. Look for accounting statements and financial reports. Good tenant relationships can also be expected, and dispute resolution skills.
Your Oshawa property manager should conduct detailed move-in and move-out inspections that document the condition of the property. If there’s a lease violation or rent stops coming in, you’ll want your property manager to take the appropriate steps, including eviction if necessary.
Transparent Accounting and Reducing Risk
Full-service property management includes staying up to date on all the laws pertaining to your rental property and your tenants. The laws in Oshawa and throughout Canada are often changing and growing more protective of tenants. You’ll want someone on your side when it comes to conflicts and disputes. Legal mistakes can be expensive, and you want to avoid those.
Regular accounting statements should also arrive, usually when your rent is paid. Good property managers show you the income and expenses associated with your property, and provide all the information you need in a way that’s accurate, detailed, and transparent.
These are only a handful of the things you should expect from a professional Oshawa property management company. If you’d like to hear more, please contact us at Investor’s Choice Property Management.