When you are an investor with multiple properties scattered across the city, it’s pretty obvious you won’t be tending to them yourself. Driving around fixing things and solving other problems is somewhere between exhausting and impossible, not to mention expensive.
Having someone on site, or at least nearby, who can respond to problems immediately and make sure everything is in good order and that the tenants are happy, is a must. Form here, there are two ways to go about it.
You can hire a local person to be your stand-in, not quite a property manager, more like a superintendent. Though that seems convenient, and cost-effective, it doesn’t always end up being true.
The second, and more logical choice, is to hire an expert Toronto property management company and put your investment in really good hands.
And here is why:
- Tenant Screening
A property management company’s duties go far beyond a superintendent’s. Among other things, they also take on the responsibility of seeing prospective renters and making sure your place is occupied by responsible, conscientious adults who will leave it in good shape when they move out, with only the minimum of usual wear.
- Paperwork Management
A Toronto property management company will know all about by-laws and regulations, making sure the property is run smoothly and without legal hiccoughs. That, and the fact that they take care of all the paperwork themselves, in a centralized manner, removes a significant workload off your shoulders, allowing you to focus on other things, such as looking for the next profitable investment.
- Reliability in Looking After the Property
If a superintendent falls ill, he can’t tend to an urgent problem, or solve a dispute. Even in full health, one person tending to the property all by himself will have a hard time keeping up with everything 7 days a week. A specialized company however, will be able to fill in the absence gaps at a moment’s notice and will be there to tend, care and look after your property 7 days a week, 24 hours a day. Broken plumbing? No problem, we are on it. Power outage? On our way. There is always someone there, and problems will never be left unattended.
- Minimal Vacancy Rates
Last but not least, and a major factor for any investor. A Toronto property management company will not only screen candidates, as we’d stated before, but make sure they stay longer, and once they are out – have their place filled faster.
The result of hiring a property management company is well-tended real-estate, with happy tenants, minimum vacancies, no problems and perfectly straight, well managed finances.
So if you are worried about your property, there is nothing better you can do than hire a reliable Toronto property management company to take care of its day-to-day operations and management.
If you want to know more about HighGate – our rates, services and deals – feel free to get in contact with us now, and we will provide you with all the required information!