Why to Hire a Property Manager for your Rental Property.

Why to Hire a Property Manager for your Rental Property

If you are looking to maximize the profit from your income investment, as well as maintain and potentially increase the value of your property – Here are some reasons why you should hire a property manager.

Property Managers will save you time and energy

Being a landlord can be a full-time job. Tracking rental payments, dealing with maintenance and repairs, prepping the property for new tenants are just some of the many aspects of management. Dealing with a bad tenant takes this experience to a whole new level and can lead to unimaginable stress. Hiring a property manager allows you to benefit from your rental property without sacrificing your time and energy.

Screening Process

When it comes to finding the best tenant for your property, a property manager has the resources and ability locate and properly screen applicants. Management companies also have a larger pool of applicants to choose from, including past and current tenants.  Property management companies are also trusted by many good tenants as they take comfort in knowing the company they are leasing from will work within the guidelines and provisions of the Act.

Property Managers know the Residential Tenancy Act

The Residential Tenancy Act in BC complicated to navigate.  There are many specific guidelines which must be adhered to in order to avoid personal and legal conflict. A property manager is a licensed professional through the Real Estate Council of British Columbia and understands how to navigate the nuances of the Act, while respecting your interests and protecting your property. Things can and do go wrong, an experienced property manager will know how to handle the process.

Property Managers act as a Buffer between Owners and Tenants.

A property manager  helps create a buffer between the landlord and tenant.

In our experience, if the landlord becomes personally involved and the tenancy fails, the repercussions can be emotionally and financially distressing. It’s best to keep in mind, your investment is a business and therefore, hiring a property manager facilitates keeping things strictly professional on your behalf.

Property Maintenance

Property management companies have established relationships with maintenance contractors and suppliers. Your property manager will be able to secure and oversee projects at a premium price.

Much of the public does not recognize the value of a good property manager. Many private landlords feel leasing to a tenant is just about collecting rent and unplugging the odd toilet – but it so much more. Management is about the management of property, but more often it is about the management of people, their expectations and how those expectations relate to the Residential Tenancy Act.

Are you looking for a new place to call home? We’re here to help. These are stressful times and looking for a new rental home is already stressful; it doesn’t need to be more stressful. We’ve created a new service to help you find the right home or apartment that meets your personal and financial needs. Let us take some of the stress off of you. Get in touch today and let us advocate on your behalf.

Are you looking for a new place to call home? Contact Kim Ashton at kima@thepropertymanagers.ca  These are stressful times and looking for a new rental home is already challenging; it doesn’t need to be more hectic. We’ve created a new service to help you find the right home or apartment that meets your personal and financial needs. Let us take some of the stress off you. Get in touch today and let us advocate on your behalf.

Sources:

https://www.rentecdirect.com/blog/10-reasons-to-hire-a-property-manager/

https://www.biggerpockets.com/blog/hire-property-manager