If you own rental/commercial property and are finding that maintenance calls, showings, and rental collection among other responsibilities are increasingly eating up most of your free time, hiring property management services may be the right solution.
Although a cut from your revenue, property management services is an investment that gives you back your time to allocate into other priorities and ventures. Here are 5 advantages that you can expect when hiring a property management service for your rental/commercial properties.
By far, one of the main reasons why rental/commercial property owners seek a professional property management company is to get their personal time back. This is especially beneficial for owners who work full time and have a family.
Property managers take on the day to day responsibilities, including maintenance and repair calls, showings, and any unexpected issues from tenants. The time that you get back from your investment is worth the value of bringing on a property manager.
Rental/commercial property management companies in Calgary are equipped with the knowledge to deal with late payments and any legal discourse relating to damage and problematic tenants. Knowing that your property is being managed by professionals who can make sound business decisions provides you with peace of mind that your investments are protected.
Due to affiliations, business to business relationships, and the volume of work, property management companies have the power to negotiate cheaper rates for any work done to your rental/commercial property. Your property manager will also arrange for all necessary maintenance services, from cleaning and minor repairs to larger renovation projects, as well as oversee that they are completed in a timely manner.
An experienced property manager has the knowledge to identify any warning signs when it comes to screening tenants. This protects you from rental scams, potential lawsuits, and bad tenants. By hiring property management services, you’re more likely to find tenants who:
A high tenant turnover rate results in lost rent and higher expenses for property owners. The process involves a thorough cleaning, changing the locks, making small repairs, and the efforts and costs associated with marketing and showing the unit to potential tenants.
One of the roles of a quality property management company is to ensure that tenants are cared for and happy, leading to a lengthier stay and better tenant retention.
As with any professional services, the above advantages are possible if the property management company is trustworthy, experienced, and reliable. Hiring a company that doesn’t align with your values or meet your needs can bring issues of its own.
For this reason, it’s important to do your research and interview rental/commercial property management companies in Calgary to find a suitable partner for your rental investments.
When you own a business, one of the biggest decisions you face is what type and size of commercial space you need to lease or buy. Sometimes you may require a simple office with room for a desk, chair, and a reception area. Perhaps you have several employees and need a large area with individual […]
As a business owner, you have to make a lot of important decisions. In your business plan, one of the most important decisions is determining if leasing a space for your office is better than buying a space. There are several benefits of leasing from commercial property managers in Calgary. Whether you are looking for […]
The past several months have seen a huge increase in residential real estate across Canada. Houses have been selling quickly with many selling for more than the asking price. If you have commercial real estate in Calgary for sale, you may also have noticed an increase in demand. Commercial real estate encompasses retail, industrial, multi-family, […]
It is important for all your team members to work together harmoniously in order to provide the best services to your clients. Commercial property management companies in Calgary rely on the return business and referrals of satisfied customers. You can improve your overall work environment by offering flexible solutions for your team members. A strong […]
Your business needs a great space to allow you to offer services to your existing clients as well as attract new ones. When you are looking for a commercial space for rent in Calgary, you need to consider a few things before signing on the dotted line. Commercial property managers in Calgary can help you […]
As a business owner, owning your commercial property can come with many advantages if you’re in the financial position to invest and if it aligns with your personal and professional goals. While the common objective here is to eliminate paying rent and instead make payments towards a building that you own, there are other financial […]
© Copyright 2021 CMS Real Estate Ltd.