By now you’ve reviewed our Summary of Landlord Services. But let’s take a little more detailed look at some of what Property Management services for Landlords are available – from RE/MAX of Nanaimo Property Management that is!
Property Management services for Landlords
ADVERTISING. Our website is a great resource for tenants looking for a new home. If a property is available for rent, it is on our website, complete with a detailed write up and current photos. This advertising will also be shared on Craigslist, Kijiji, UsedNanaimo and on the RE/MAX of Nanaimo insider page for internal groups with 100+ members. We also have yard signage to catch any prospective tenants driving through the neighborhood looking for their ideal home. With the RE/MAX brand behind us, our reach is extensive.
NEW TENANT SCREENING. Once we’ve shown the home and found a prospective tenant who wants to rent it, we provide assistance in getting the application form completed with as much information as possible. The prospective tenant then undergoes a thorough screening process which includes verifying employment and income, speaking with the current and previous landlords and/or realtors, as well as obtaining a credit report and personal character references. Only when we are completely satisfied with the information we gather do we accept a tenant.
ACCOUNTING. We’ll collect the security deposits, rents and utility payments if applicable and we’ll pay any repair invoices that we may have received during the prior month. Then, on or before the 15th of each month, we’ll make a deposit into the Landlord’s account with the balance of the funds. You’ll receive a statement each month showing the income and expenses that month and we’ll send you a year end statement in February each year showing the total annual income and expenses for ease in tax preparation. If you are non-resident of Canada, we’ll make the monthly remittance and complete and file the NR4 and NR4 Summary to Revenue Canada on your behalf.
MAINTENANCE. We’ll recommend and arrange for any necessary maintenance by utilizing our extensive network of service providers, contractors and handymen. If we need specialized repair services, we’ll source those as well. If something out of the ordinary comes up, we’ll discuss the scope of work with you and we’ll obtain more than one quote for “big ticket” items so you can compare the costs. More importantly, we will always make sure to get your approval before spending your money for large expenses (emergency situations excepted). Our expert Property Managers are available 24 hours a day, 7 days a week to deal with any emergency situations which may arise, so you can be assured your investment is well looked after.
INSPECTIONS. We will conduct a move-in and move-out condition inspection and complete a report with each new tenant. Not only are these required by law, but they just make practical sense. By documenting the condition of the home when the tenant moves in, we are fully able to assess any damages or repairs the tenant may be responsible for when they move out. We also carry out inspections regularly throughout the tenancy – the first one about 6 to 8 weeks after they move in, and then if everything is fine and the home is being well looked after, we do one every six months. For homes where we think there may be an issue or concern – housekeeping, repairs the tenant may be responsible for, etc., we’ll do follow up inspections more frequently. Sometimes your insurer will request interior inspections be done at specific times which obviously we will complete and report on to protect your insurance.
LEGAL. We will resolve any tenancy issues and matters of dispute or arbitration involving the Tenant. We will follow lawful instructions and we’ll make sure we disclose to you any information which may affect or influence your decisions. Our goal is to protect your investment at all times.
Complete Property Management services
This is by no means a complete list of our services but is meant only to give a more detailed look at some of the key considerations when looking for a Property Manager to protect your investment.
We’d love to provide more information about our full service management, so please call us today at (250) 751-1223 for a free consultation.
RE/MAX of Nanaimo Property Management is now accepting additional residential properties into our inventory and we welcome new clients. It’s a really great time to be a rental property owner in Nanaimo, particularly if you are one of our friends from south of the border. The current exchange rate, combined with low interest rates, makes this the perfect time to invest in our community. And of course, we’d be happy to look after your investment for you!Connect and follow us on Social Media