If you're reading this article, chances are, you're already looking into rental property management. You may be on the fence and weighing whether or not to go for it. Read on to learn why property management in Ottawa can be one of the best business decisions you could make.
When you get experts to do property management for you, then they handle tenant screening. Their process will be extensive and thorough. That way, any problem tenants can be filtered out from the get-go. A property manager can do things like run criminal/background checks, credit checks, and have a potential tenant's application data verified.
When the rental property management company you get is the experienced and reputable kind, you're in good hands. They have already seen numerous rental applications in their lifespan. With that under their belts, they can analyze information rather quickly and be able to see red flags much faster. It can also help you, the owner, avoid lawsuits regarding discrimination stemming from a screening process that's not the same every time. By default, the screening process of majority of property management companies is uniform.
Some tenant concerns are genuinely urgent, and can involve emergency maintenance. However, some of them may be more on the minor scale. No matter how big or small those complaints are, your property manager will be able to filter things. If it can be handled on their end and merely reported to you later, then they'll end up doing that. It will save you a lot of time and effort, especially in cases where your day didn't have to be interrupted in the first place.
When your property manager is the kind that knows their stuff, your tenant retention will improve drastically. In turn, your turnovers will lower considerably. A good property manager will be able to quickly resolve any issues or problems that your tenants have as they happen. Renters appreciate quick responses, especially when it comes to things like maintenance or repair issues. Happy tenants will make them far less likely to move somewhere else.
Your property will constantly be marketed in the best possible way by your property manager. That's because this is their field of expertise. In fact, they can likely market your property better than you. Some people can see their property or properties being on the market for months on end, only to have them rented in weeks when they hired a property manager.
Experience really counts in these cases. Chances are, property managers also have access to their own network of markets where they can post and share about your property for rent.
Property management is one of the best investments any rental property owner can make. It's downright necessary because of all the benefits that come with it. This includes vacancies lessening, turnovers not being as many, and tenant complaints being dealt with quickly.
Looking to outsource rental property management in Ottawa? Contact Fahel & Co! We pride ourselves on the highest quality of care for both tenants and landlords!