Managing Your Rental Property – What to Expect From Your Property Manager
Now that you are a real estate investor, you may want to consider the services of a Property Management company to look after your property. An experienced Property Manager can not only maximize your revenue by achieving the best rental rates possible, but can also minimize expenses to ensure you get the best return on that investment. If you’ve never been involved with a Property Management company before, here are a few tips on what to expect when someone else is managing your rental property.
Managing your rental property
Property Management firms handle the day to day operation of the property on your behalf. At RE/MAX of Nanaimo Property Management, our commitment is to you– the Landlord, working with your best interest in mind at all times.
Property Managers have an extensive network of contacts, service providers and contractors to ensure whatever may go wrong – and it will – can be fixed promptly. Sub-contractors are a valuable asset and are available to handle everything from plumbing to electrical problems, to just about any kind of deficiency you can think of. When we think it prudent we’ll make sure to involve you in the decision making process – especially if it’s a costly repair.
Conducting routine inspections of the property and providing recommendations to you based on our findings at least two or three times per year (more if we feel it necessary). Sometimes, your Property Manager may even tell you there’s nothing to do (for maintenance or upkeep that is). Those are especially nice.
What to expect from your property manager
Your Property Manager will find you the best possible tenants. That means, we find them, screen them, and approve them. Marketing your rental investment through advertising the property on a variety of mediums.
- We show the prospective tenants the property and assist them to complete an application form giving us enough information to do a full and thorough back ground check.
- We conduct a credit check, landlord reference checks, and employment verification in order to ensure the best match for your property.
- We collect and hold the security deposit and we’ll ensure the monthly rents are paid promptly.
- In the event of maintenance issues, we’ll select the most qualified general handyman for that specific issue and deal with it as quickly and efficiently as possible, minimizing any risk to you, the Landlord. If the repair or replacement requires a certified individual, we have those available too.
Real estate investment
Finding a qualified firm to managing your rental property will take the everyday stress out of being a real estate investor. Put your property in the hands of our experienced management team at RE/MAX Rental Pros and sit back. We’ll take it from there.
You can forget the daily hassles of managing your real estate investments. We’ll do that. You’ll receive your net money by the 15th of each month and a complete report on income and expenses a few days later by e-mail. In February of each year, we will provide a full year (annual) statement of expense and income for the previous year to make tax time easier.[su_divider]