Simplifying Rental Revenue Accounting: An experienced property manager will provide an owner with the necessary reports and statements to keep them informed on their investment property.; supplying them with documents such as rent settlements, expense and maintenance reports. Keeping CRA happy is always the goal.
Tenant Sourcing and Screening: The most important part of owning your rental property is finding the right tenant to call it home. This can be a time consuming and exhausting task for the under educated property owner. The right property manager will have knowledge of the rental market in your city, as well as access to resources to find the right person for your unit.
Avoid Legal Problems and Scams: Keeping up with the Residential Tenancy act can be a tedious endeavour. A skilled property manager will remain up to speed with the ever changing act and rental laws, and ensure you remain on the right side of it.
Save Money on Repairs: Any property management company that's been in the game for a while is going to have a list of trusted contractors. This is not only going to put your mind at ease that your property maintenance is being handled with care, but it will also benefit your pocket book in that your PM can likely get a better rate for the work.
Stress Reduction: At the end of the day, you've purchased this rental property as an investment and another source of income for your future. Handing the reigns over to an experienced and trusted local management firm can help to ensure you enjoy the benefits of your property without the weekly headaches they can often bring.