Being a rental property owner doesn’t mean you signed on to execute the daily responsibilities involved in being a landlord. Property management Toronto requires a significant time commitment, one made easier when you contract one of the best property management companies in the area: Ashbridges Property Management.
It’s easy to be an investment property owner; all it takes is your financial investment. On the other hand, it is often difficult and time consuming being a landlord who’s fully engaged in the management of the building and the duties associated with that role: tenant acquisition, lease contracts, financials, taxes, utilities, property maintenance and all the obligations required to ensure your “warranty of habitability” is fulfilled. The kind of property management companies Toronto property owners need are ones that can take care of all those responsibilities, serving as your defacto landlord on site. Professional property management companies make great landlords, because they answer directly to the you, the property owner. They will provide you with a full menu of services that fulfill all your responsibilities to your tenants, from ensuring a safe, clean rental property to rent collection and ensuring maximum occupancy.
Working as your landlord, your property management company can do all the work involved in keeping you informed about any changes or developments in the provincial laws surrounding rental contracts. Take the new standard lease developed by the province, for example. The new lease is designed to be simpler and easier to understand than past lease contracts, which were often complicated and lead to many abuses of tenants’ rights by landlords who willfully asked tenants to abide by rental rules that were often against the law. The new standard lease recently became mandatory for new tenancies in rental properties including apartment buildings and rented condos. Having a property management company Toronto stay on top of such developments helps ensure you are in compliance with the law as a property owner.
Being a rental property owner makes you a business owner; your tenants are your clients and your rental property is your asset. Having a property management company Toronto responsible for the care of your asset ensures you are protecting your investment. Your contracted property management company can be responsible for proper upkeep, repairs, payments and accounting. You put in minimum effort while reaping maximum benefit for the property in which you’ve invested.
Let a professional property management company take care of your landlord duties. Contract Ashbridges Property Management, a boutique company you can find operating in The Beaches. Look for us on-line at http://ashbridgespropertymanagement.ca/.