10 Reasons to Engage a Rental Property Management Company
February 10, 2020
If you’ve ever owned an income property for any length of time, you know that it can be financially rewarding. You may also have realized that quality rental property management is key to the success of your property, as running a rental property requires a large commitment of time and effort.
While it may make sense to take the do-it-yourself approach if you’re a handy person, live close to your property, and don’t mind devoting several hours per month to the task, in many cases this just isn’t practical – especially if you hope to expand your business. With this in mind, the following are some critical tasks ACCL Property Management can help you with:
Benefits of rental property management
Setting the right rental rates: ACCL will conduct a thorough market study in order to set a rental price for your property, ensuring that you achieve the perfect balance between maximizing monthly income and maintaining a low vacancy rate.
Collecting and depositing monthly rent payments on time: ACCL has efficient, tried-and-true systems in place to effectively collect rent and maintain on-time payments. You will find this particularly important if you have a limited number of properties and collecting payments on time is crucial to maintaining your cash flow.
Marketing and advertising your property: Using our extensive experience, ACCL will know exactly where to market your property and how to craft compelling advertising materials—a significant advantage when it comes to filling your properties quickly and avoiding long vacancies.
Finding the right tenants: Our experienced property managers are experts at finding good tenants, and will take care of all the details, including securing all criminal background and security checks, running credit reports, verifying employment, and collecting previous landlord references.
Managing tenants:
In addition to finding good tenants, ACCL will manage all aspects of the tenant-landlord relationship. Our property managers will handle both routine and emergency maintenance, take care of routine inspections, and manage any situations where conflict resolution is required.
Managing vendor relationships:
As experts in the industry, we have relationships with maintenance workers, tradesmen, contractors, suppliers, and vendors that it’s almost impossible for an independent landlord to duplicate. Not only will your property manager get you the best work for the best price, but they’ll also oversee any necessary maintenance projects.
Ensuring that you’re in compliance with housing regulations and property laws:
There is a multitude of applicable laws and regulations to abide by when renting and maintaining your rental property. Our residential and apartment rental property managers can help you avoid lawsuits by keeping your property up-to-date and in compliance with these regulations.
Maximizing the profitability of your time: By having one of our property managers take care of the day-to-day aspects of running your income property, you’re free to spend your time identifying further investment opportunities, spending quality time with family, or doing whatever you wish.
Maximizing the profitability of your money: Most property managers charge a percentage of your property’s monthly rental rate in exchange for their services. This fee is minimal in comparison to the savings you will collect from hiring a professional who can take care of the above critical items for you!
Contact ACCL to find out how our rental property management services in the Greater Toronto Area can benefit you.
This is not negotiable as it helps to protect the landlord if there are any damages to the property at the end of the tenancy.
