Property management companies are as different as the properties for which they are responsible for managing, each providing their own set of services and each with their own niche. To be one of the truly full-service property management companies Toronto has to offer, you have to include rental property maintenance as one of your services. The question is, is it a good idea for property management companies to handle rental property maintenance? If you ask the real estate professionals at Ashbridges Property Management, the answer is an unequivocal yes!
As an investment property owner, you’ve created your own portfolio of investment assets that require time to effectively manage. Property ownership in a market like Toronto is stressful enough; you shouldn’t ever have to concern yourself with things like worn out carpets, broken toilets, burnt-out light bulbs or weeds in the garden. Contracting a professional property management company is a concrete way to ensure all the minutia involved in rental property management is being looked after. Some property management companies have the capacity to handle repairs through their own employees; others contract out the services to third-party tradespeople. Either way, the maintenance of the property is being handled professionally without you having to worry or take phone calls from disgruntled tenants wondering when their doorknob is going to be fixed.
To maximize your investment, you need as close to full occupancy as you can get. To ensure that happens, your rental property should be well-maintained in every aspect. That means more than a new paint job or pretty landscaping. All the amenities offered in the building – the ones that attracted potential tenants in the first place – need to be functioning properly at all times, from washer/dryers in the laundry room to the sauna in the pool area. A properly maintained building helps reduce the number of unhappy tenants in your building and keeps the occupancy rates high. Having a property management company oversee property maintenance in a preventative way helps reduce incidences of major repairs which can affect your rental rates and cause potential issues with renters who may hold back rent payments until repairs are completed.
Maintenance can be costly, but that is the price of being a landlord. However, you can avoid major issues when repairs are required by having your property management company oversee the maintenance plan and mitigate any problems that may arise with tenants of the property. As one of the leading property management companies in the Beaches, Ashbridges Property Management is the name you want to call when you need professional property management.