Managing a successful tenancy is certainly no walk in Stanley Park. A landlord has to wear many hats and often navigate legal, financial and technical scenarios to ensure quiet enjoyment is maintained. In keeping the investment property viable, any doubt or lack of understanding of the above frameworks can be damaging to an investors time, finances and more importantly, their peace of mind.
At Sycamore Property Management, our goal is to offer turn-key rental services that maintain strong tenancies and remove the stress of being a landlord.
Here are 5 reasons why hiring a professional property management team is the best decision for your investment property.
Bespoke fits better
Hands down, the enemy of a rental is a vacancy period. It is far too often that we see excellent properties sitting on the rental market unoccupied because they had the wrong rental listing strategy in place. In addition to location and marketing trends, there are several added elements that a professional property manager would include in their approach to finding exceptional tenants. This expertise, when combined with a custom strategy for your rental, could save you thousands of dollars brought on by an empty property.
Property managers are “show offs.”
A successful property manager requires to be a seasoned rental marketer. Knowing exactly where to list a property to ensure the highest amount of traction is vital. Additionally, a professional property manager will also be able to optimize a rental listing to appeal to the right demographic. Whether it is the use of captivating photography, video walk-throughs or 3D tours, a property management company will ensure that your listing is seen by as many people as possible.
When curiosity doesn’t kill
A bad tenant can be a nightmare that brings on property damage, unwarranted stress and potential lawsuits. An experienced property manager knows what to look for when interviewing and assessing prospective tenants and has had enough experience to spot the red flags. The professional approach is systematic and extensive. Employment, residential and financial history are screened so no stone is left unturned and your rental income is left more secure by placing qualified and reliable tenants in your home. Also, never discount the instinct of a professional who has been doing this for years! We’ve seen (and avoided) it all.
Been there, done that!
At best, the business of being a landlord is unpredictable and untimely. Emergency repairs, an everchanging legal landscape, life changes for tenants and inclement weather are only a few of the time-sensitive matters where if not addressed appropriately can cost you both a substantial amount of time and money. A professional property manager will have contingencies on hand based on their knowledge of the legal framework, familiarity with the rental market and access to industry resources. A wrong decision taken by an inexperienced landlord can prove to be very damaging. Ask anyone you know who has had a bad tenant experience. They are our best promoters!
Staying on top
Hiring a professional property management company will go a long way towards keeping your maintenance costs in line. An experienced manager will decide and prioritize what is needed to be done and their strong relationships with trade partners will keep price and service competitive. A qualified approach to preventative and emergent maintenance will increase overall savings and assist with property value. And don’t worry, you are involved along the way to approve costs so you aren’t surprised by your monthly financial statements.
The rent is due
We have all heard the saying “time is money” but have you ever thought about all the time you could save when you aren’t chasing your own money? A professional property management company would have systems in place that would ensure prompt rent collection each month and provide you with consistent cash-flow. It is clear that we are in uncertain times and rent may be challenging for a tenant on occasion. Even so, you can rest assured that an experienced property manager would have remedies in place to ensure all facets of rent collection were available to you as an owner and that it always remains paid.
In closing, when you make the decision to hire Sycamore Property Management you can rest assured that your investment and your tenants will be well taken care of. Our expertise and service level remains unmatched in the industry and is the reason our clients trust us with their rental homes. Connect with us today so we can discuss building and protecting your rental wealth!
Welcome to the Sycamore Blog
We understand how scary the thought of a damaged home is and we care about protecting your valuable asset. While wear and tear is to be expected when renting out your home; what forms as an excessive amount and who is responsible for it is our job to determine, a job that we do very well.
It starts with placing the right tenant and with our years of combined experience managing basement suites to luxury estates we have proven processes in place such as comprehensive screening processes, preventative maintenance trackers, rigorous inspections and condition reports to ensure you receive your home back in the best condition possible. In the rare event that it is not the case, we will work tirelessly alongside to guide you through the legal avenues available ensuring you get what is owed to you.