Property management Toronto is a service best delivered by qualified property management companies. Leaving the management of your income property to an individual or company without a proven track record of effective management is just bad business. The best property management companies Toronto has to choose from provide a full menu of service, from maintenance to rent collection. One of the most important services of all, however, is helping you find the perfect tenants for the type of property you’re renting. Ashbridges Property Management is in the business of making sure that happens.
The relationship between tenant and property owner should be black and white: property owners offer their property for rent at a set price, and the tenant pays it. If only it were that simple. Both tenants and property owners can be equally good or bad. Property management companies are in the business of ensuring good tenants find good properties in which to live. They do that by helping good property owners avoid renting to bad tenants, and there are lots of steps involved along the way to make that happen.
For starters, your rental ad should be transparent in letting all applicants know they will have to submit to a tenant background check. Property management companies Toronto will be responsible for checking all prior references thoroughly. It’s also important for that ad to be clear about the rental fee, and that such a fee is appropriate for the property and the market. Rent set too low may cause potential tenants to question the quality of the property, especially if you’re trying to rent a long-term vacancy; rent set too high may send potential tenants elsewhere, or attract problem tenants desperate for residents who will try to avoid paying the high rates. It’s important to pre-qualify all applicants on the phone prior to showing the property with a list of standard questions designed to provide property owners with tenant information. For example, ask why they’re moving or how urgent their need is. The answers could provide relevant information about the tenant.
Experienced property management companies will always arrange face-to-face meetings with potential tenants. This is a good way to avoid tenants who misrepresent themselves on the phone, or who are actually fronting for a potentially bad tenant who will move into the apartment later without having their name on the lease. This is a common way bad tenants avoid a thorough background check. For the record, it’s critical that you have a detailed rental application for potential tenants to fill out; this will contain important declarations on the legitimacy of the information and give landlords permission to verify the information.
Learn more. For more information, contact Ashbridges Property Management, a boutique company you can find operating in The Beaches area of Toronto. Look for us on-line at https://ashbridgespropertymanagement.ca/property-management/