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Being a landlord is challenging and time-consuming. You need to be organized, proactive, and it helps to be handy around the home, too.
Even if you have the free time and skills required to be a landlord, you may get tired of sacrificing it to run your rental property smoothly. The good news is that professional property managers are there to improve life for you and your tenants. Here’s how they do it.
Vetting candidates to find a great tenant requires cutting through the paper to see the real person behind it. Professionals know how to recognize red flags when they see one and know where to look for them in the first place.
The best property management companies have a comprehensive screening process to check for employment letters, credit reports, reference checks, and scan all tenant applications. Look for property management experts in Toronto and the GTA that can handle all the above thoroughly since many potential bumps in the road between landlord and tenant can be preemptively prevented when screening is done correctly.
Get Your Free Time Back
Even if a tenant doesn’t have maintenance requests or other obligations that take up your time, landlords need to live their life knowing they could be pulled away at any given moment. The only way to regain your evenings, weekends, and holidays is to hire a professional property manager.
Tenants and owners can call them at all hours of the morning, day, and night 365 days a year because being a landlord is a job that never stops. Tenants will enjoy the assurance that comes with knowing there’s always a person to reach out to for help and a protocol in place, while owners can breathe a sigh of relief knowing their investment property is always in good hands.
Great Contractors at Your Fingertips
Not everybody who owns a home knows how to fix it, and it’s unlikely they have a slew of vetted contractors for each type of repair. The best property management companies have long relationships with various types of contractors.
When something needs work, they’ll give you three quotes at different price points, so there’s complete transparency, and owners can invest in the type of repair they want.
Better Tenant Relations
Finally, property management companies do the heavy lifting between owners and tenants so that tenants enjoy where they live and are more likely to remain there for the long term. From handling maintenance requests to rent collection and more, owners can provide the conditions for a wonderful home life without personally overseeing them.Owning a home and renting out units is one of the best financial investments you can make, but not everybody who takes this route has the skills, time, or desire to be a landlord. Hiring a professional property manager will make landlords’ lives easier while giving tenants the professional and attentive services necessary to make them feel at home in their unit.