This is a rather tricky question that landlords must ask. The answer to this will depend on what type of landlord you are.
If you are of the small percentage with years of experience being a landlord, do not mind being called to fix a problem at 3 am and have time to screen tenants, then no, you probably do not need a property manager. However, if you are like the majority of landlords, you may not have time to tend to your property and tenants at all hours. You may be new to renting out a property and do not wish to take risks experimenting and learning through mistakes. Then yes, hiring a property management company will help you get the most out of your rental property. Let us highlight some key advantages:
Cost: Hiring a property management company is surprisingly inexpensive, for a small fee the entire rental process is handled by professionals. If we put this in perspective, a property is proven to have fewer vacant days whilst under the care of a property management company, if we understand the costs of having a vacant property, we realize that the management fee is comparably small.
Control: There is sometimes a misconception that hiring property management company would reduce the control of the landlord. On the contrary, the property management team works to the wishes of the landlord. At The Address Property Management, we keep the landlord updated and can be contacted 24/7. We know how important it is to listen to the landlord and act in accordance with their requirements. We know that a well-maintained property and a responsive service empowers the landlord to maximize gains.
Ease: The property management team looks after the entire rental cycle. This removes pressures from the landlord and saves them a lot of time and effort, having to tend to all the property and tenant needs.
Professionalism: At The Address Property Management, we pride ourselves in being qualified in Facility and Property Management, and being experienced engineers. We consistently provide a good quality service, as we update our knowledge and work to produce a reliable service.
For more information on how The Address Property Management could help you with your rental property, please contact us at: info@theaddresspm.ca