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Why hire a property management company?

Posted Jul 18, 2012
By Propertymanagement.ca
of Propertymanagement.ca

Trying to decide whether you should use a property management company or not? Here are the top reasons why you should hire one.

Rental Rates Hiring a property management company who is experienced in the area can help you set the right rental rate which maximizes your revenue without turning the potential tenant away.

Collection Property management companies will take responsibility for reminding the tenants to pay their rent on time, collecting and depositing the payments.

Marketing
Any experienced property manager will know the type of market your property caters to and how to best reach that market when vacancies are available.

Housing and Tenant Regulations Property managers are generally up-to-date with all major housing and tenant regulations to prevent unnecessary legal situations from arising with the tenants.

Contractors
Property managers have their own rolodex of trustworthy contractors that charge reasonable rates.

Geography Because you may not always invest in a property close to where you live, having a property manager allows you to invest in properties further away.

Reports
Many property managers generate reports of all revenues and expenses which you may use for tax purposes or for cash flow planning purposes.

Time
The most important factor is time. A property manager can take away all the hassle of managing tenants and contractors. For those who already have a full-time job, having a property manager allows you to invest in multiple properties.

via http://www.propertymanagement.ca

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