Real estate management: Do you own an income property (residential or commercial)?
Income property owners feel overwhelmed with the amount of work that needs to be taken care of and with good reason. Managing an income property requires maintenance work, rent collection, bookkeeping, and a myriad of other chores. No wonder many of them seek professional help for management of their properties.
Fortunately, many companies specialize in income-generating property management and allow homeowners to take on less work and continue to enjoy their rental income.
The types of properties supported by Rental Property Management Services typically include:
- Duplexes, triplexes and quadruplexes
- Apartment blocks from 5 to 11 dwellings
- Income properties with 12 or more doors
- Condominiums (condominium buildings)
- Commercial buildings
Rental property management companies are an asset in a real estate project. They not only lighten the work of the owners, but their constant presence maximizes the financial performance of the buildings.
Planning to Purchase or Sell a Rental Property?
Outsourcing the management and maintenance of income properties greatly facilitates the work of owners/landlords. By doing business with a company specializing in the field, they can exploit rental income without the disadvantages of concierge work, rent collection, tenant management, maintenance, etc.
For this reason, homeowners wishing to sell their income properties for lack of time or expertise to properly deal with them may want to consider hiring a property manager. They could continue to enjoy their rental income without effort.
For future buyers of income properties, property management services are a key element of their project. Outsourcing can indeed contribute to the success of first-time real estate investors. It allows ownership even with little time for new responsibilities and little knowledge of management or maintenance.
Get 3 FREE quotes from property management and maintenance specialists by completing the form below. Find the ideal business partner that will guarantee your peace of mind and profitability.
Benefits of Outsourcing the management of your income property
Property Management Services offers a diverse range of services. Most offer packages, tailor-made contracts and all-inclusive packages. Their clients include owners of apartment blocks or condominiums.
Care and Maintenance:
- Various renovations: refurbishment of a home, repairs of all kinds
- Concierge service: annual or biennial window cleaning, cleaning of the stairwell, doors, etc.
- Lawn mowing and watering : choose the frequency of maintenance
- Landscaping and maintenance
- Emergency Call Service : You’ll be surprised at the many emergencies and problems a property manager can encounter.
- Collection or deposit of rental income
- Payment of taxes (GST and QST)
- Accounting and bookkeeping
- Emergency call service: some building management companies offer a 24-hour telephone line to tenants.
- Complaint handling: this option assures you a good relationship with your tenants.
- Collection management: a tenant left without paying? Doing business with a building management service allows you to recover your income without effort.
- Tenant eviction: a property manager can also initiate tenant eviction, with your consent, for non-payment of rent
- Drafting of annual report on the financial performance of the building
This service allows you to ensure the optimal performance of your apartment blocks. The rental management company will do tenant placement using effective advertising and perform tenant screening. This means you will not need to meet your tenants.
- Schedule visits of potential tenants
- Property inspection
- Marketing of rental properties
- Advertising management
- Lease signing
- Key collection
In short, building management services allow you to delegate some of your tasks to optimize your time, reduce stress from managing your investment, and allow you to focus on other important aspects of your life.
How to choose a commercial or residential property management company?
To make sure you choose the ideal rental property management company, ask yourself the following questions:
- Does the company have experience? How long has the company been in operation?
- Do packages and options have a high level of flexibility? Can you choose only those options that are right for you?
- Does the company offer you sound advice?
- Is the bookkeeping up to your standards?
- Are their rates competitive?
- Are the customers of the company satisfied with their services? What do their customers have to say about their services?
Answers to these questions can certainly help you in making a good choice from candidates you have short-listed. You can start finding out which is the best company to manage your property by comparing our free quotes from rental property management companies.
Compare Quotes from Reputable Real Estate Management Companies Now
Ready to take action and improve the quality of life? Want to reduce the stress of managing your investment property?
Find your property manager by filling-out our online request form. You will receive e-mail or phone quotes, free of charge, from 3 companies in Quebec who have proven their mettle in the field of property management services.
Compare Home Quotes – Rental Property Management is a web-based platform that connects rental property management companies to owners desiring professional help in managing their properties. Our service is completely free and no obligation.
Compare Home Quotes brings together a large number of real estate professionals from different fields in real estate. It is the ultimate source of real estate professionals in Quebec for your real estate needs including real estate brokers, construction contractors, notaries, home inspectors, mortgage brokers, professional movers, and more.
By comparing free quotes from experts, you are assured of high quality services for the best possible price. You ensure that you get the most value for your money and save on a lot of time!