1. Rent Collection: A professional residential property management company ("PM's") have systems and strategies to improve rent collection and on-time rent payments. This allows you to ensure swift and consistent rent collection. Quick and consistent rent collection is absolutely critical in this real estate market where good cash flow can mean the difference between success and failure as a real estate investor.

 

2). Local Knowledge of Rental Rates: Property Manager's have extensive local knowledge of rents and the ability to determine the highest rental rate possible for your property. With the internet and the ability to do large scale searches for rental properties, potential tenants know if your property is overpriced, even by $25. Overpriced properties sit empty while other properties get rented. Knowledge of rental rates is a key factor to fast rentals and quick cash flow.

 

3. Tenant Screening: A Property Manager requires a detailed written application from each adult with photo identification. Additionally, PM's will run criminal, social security and public notice (bankruptcy or judgments) searches to determine if the application is accurate. PM's will also call past and present employers, landlords and other references. PM's have set requirements and standards for accepting or declining an applicant and thereby ensuring you comply with fair housing rules and other local and state regulations.

 

4. Marketing Expertise: Propety Manger's have years of experience in how to best market your properties so they are rented in the quickest time possible. PM's use both offline and online marketing to maximize your properties' exposure and find qualified tenants quicker. Most PM's utilizes 10, 20 or even 30 different techniques to rent a property quickly which reduces your carrying cost of a vacant property.

 

5. Property Law and Regulations: Property Manger's have extensive and up-to-date knowledge of property laws and regulations and will assist you in making sure you are in compliance with your local, state and federal rules and regulations. These rules and regulations include complying with fair housing regulations, the Americans with Disabilities Act and other applicable local, state and federal laws. Avoiding one law suit will more than pay for any PM's fees many times over.

 

6) Tested and Reliable Professionals: residential property management company's will already have vetted numerous vendors, suppliers and contractors to make sure they provided good quality work at reasonable prices. Failure to properly vet these professionals can be a costly mistake. Many Owners overlook this function because they do not know how to do it or because it is a time consuming and laborious process.

 

7) Inspection Reports: Property Manger's perform property inspections before, during and after a tenancy. Additionally, most PM's will perform routine property inspections at least every 180 days. Your PM should be responsible for preparing frequent written inspection reports for each of your properties. Faults in your property that are found quickly can be resolved before they become expensive items of disrepair.

 

8. Financial Records and Security Deposit Escrows: Property Manger's will provide detailed income and expenses reports as well as cash statements every month saving you the bookkeeping headache. Additionally, PM's will also manage your security deposit escrow funds and make sure you are in compliance with local and state regulations. PM's will provide end-of-year tax reports for your accountant or financial advisor.

 

9. Emergency Calls and Shield You From Tenants: A residential property management company will shield you from emergency maintenance calls and tenant headaches. Imagine never having to deal with late night "my toilet is overflowing" call.

 

 

Bonus Reason! FREE TIME: A good residential property management company will free up your time for doing deals that make money. I mean serious money as opposed to dealing with non-money producing activities like tenant and property management.

 

 

You finally made the decision to build your wealth by purchasing rental property. However, that is only the first step. There is a big difference between being simply a property owner and being a landlord. For those property owners who live far away or simply prefer not to deal with the responsibilities of being a landlord, hiring a property management company offers the best solution.

 

However, not all property management companies are created equal. From marketing a property and screening tenants to collecting rent and supervising maintenance, quality property management requires a high level of skill and organization. Therefore, when choosing a property management company to oversee your rental property, it is important to choose a company with the experience to get the job done right.

 

Vacant rental property is a drain instead of an asset. Our experienced property management company knows how to aggressively market your property to keep it rented.

2. Better Tenant Screening

Our experienced property management Company is more likely to have an effective system for screening tenants to ensure that your property has quality tenants who can meet their financial obligations and who will be more likely to take better care of your property.

Our experienced property management company will take better care of your property. A property management company that has been in business for a number of years will have seen it all and will be able to confidently handle any problems that arise with your property quickly and efficiently.

4. Makes Owning Rental Property Simple and Convenient

Our company with years of experience in property management will be able to streamline the process of owning rental property so that you can spend your time doing other things while still enjoying the financial benefits.

Unlike new companies that might get overwhelmed and be unable to offer truly personalized service to their property owners, an experienced property management company is more likely to have a low property manager to client ratio in order to provide top-notch, personalized service.

 

Your rental property is a big investment. Don’t take unnecessary risks with it by entrusting it to an inexperienced property management company. Assure Property Solutions services the Interior and Okanagan communities. If you want the best in property management for your rental property, contact Assure Property Solutions today.

 

Once you have invested in a rental property, the responsibility of
maintaining and running the property can quickly become overwhelming.
For many Owners, the logical solution is to hire a Residential Property
Management company to oversee their rental property.

 

Is this the right decision for you? Here are the top 10 reasons to
consider why you should hire a residential property management company
and how the benefits far outweigh the costs.