The blistering real estate market in Canada and elsewhere has helped create the rise of professional property managers as investors need reinforcements to maintain units and relationships. Having the constant support of experienced professionals helps to give landlords peace of mind while tenants enjoy their services in many ways.
If you’re wondering about how property management in Mississauga or the GTA benefits landlords and tenants, please read on.
Tenants Have a Number to Call
It’s a helpless and powerless feeling when renters are left to fend for themselves if something in the unit breaks or needs maintenance. Renters obviously don’t own the property, so they aren’t invested in its long-term condition — they just want the appliances to work and for their home to be safe.
When a professional property manager oversees things, tenants have a number they can call 24/7 in case of emergency or for routine repairs. Whether it’s a plumbing leak in the basement or you need to have annual fire alarm inspections, professional real estate managers give tenants ample support and elite services.
No renter wants to feel ignored. Having the backing of experienced real estate handlers helps them feel rooted in where they live, so they remain happy long-term tenants.
Securing the Right Tenant
Finding a responsible tenant can be the difference between a landlord’s ongoing nightmare and undisturbed serenity. Bad tenants can damage the unit, pay their rent late or not at all, and cause aggravation in other ways.
That’s why professional property managers have an involved four-step process that allows owners to feel confident they have an A+ tenant. They’ll do the legwork and use their experience and know-how for your benefit. Here is what their four-step process entails:
- Employment Letter: Is the prospective tenant who they say they are? Are they reliably employed, and do they have sufficient income to rent your unit comfortably?
- Credit Bureau Report and Credit Check: How a tenant treats their important financial obligations reveals a lot about how they will treat monthly rent payments.
- Reference Check: A person’s character cannot be gleaned from financial documents alone, so professional property managers ask friends, family, and past landlords about each prospective tenant, even if the phone tag takes a while.
- Tenant Applications: Vetting each application takes time, but professional property managers will comb through them and present to you only the best ones, which you can approve or decline as you see fit.
By starting the rental off strongly with a dream tenant, landlords can sit back and breathe easily with long-term stability.
Support When Needed
Tenants aren’t the only ones who take great comfort from knowing that there’s a handy repair expert always on the other end of the line. Those with income properties need to know that their investment is well tended to.
The best property managers have multiple technicians they can call, offering prompt repairs at different price brackets so homeowners can get a suitable level of service.
Whether you live or own the unit, you’ll be happy when a professional property manager backs it.