Owning a property and renting out one or more units is a fantastic way to make money, but it can involve sacrificing free time and handling repairs that take skill to perform. That is unless you hire professionals who can do it all for you.

First-time landlords don’t need to fear that their weekends and vacations will get taken up by emergencies at the investment property or worry that they have no experience doing handy work around the home. Today’s professional property management companies offer a turnkey service that lets them sit back and collect the rent each month.

Finding the Right Tenant

Knowing that your tenant will keep your home in great condition and pay rent on time lets you rest easy at night, while disaster tenants who damage your property and withhold rent can keep be a nightmare. The best property management companies in Hamilton and the GTA have a comprehensive tenant selection process, so you always have a reliable tenant.

They will check the prospective tenant’s employment letter, confirming their identity and income level so you know they can comfortably pay rent. Next, they’ll run a credit check so they know how this prospective tenant treats other financial obligations.

The reference check tells you something about their character that financial documents can’t. Finally, they’ll file all the applications themselves and ready them for your approval, which you can give without qualifying or explaining.

Pro Repairs 24/7

Nobody wants to have their weekend or tropical vacation spoiled by an emergency at the investment property. When they engage a professional property manager, landlords can enjoy their free time knowing it will always remain free. There’ll be no voice in the back of their mind, wondering if their free time will be interrupted abruptly.

Professional property managers have old relationships with qualified contractors who can take on any job. Should a problem arise, they’ll present to landlords three different quotes at various price levels, so the landlord can opt for the fix they want.

Inexperienced landlords don’t need to learn how to do repairs themselves or fear their spare time can be interrupted so long as they hire a professional property manager.

Tenant Relations

Ensuring tenants are happy helps to keep them in place for the long term. Pro property managers help satisfy tenants by fulfilling various services promptly and courteously, such as rent collection, maintenance requests, negotiating lease agreements, performing pre-delivery inspections, and more. Professional property managers make life better for tenants, too.

When a tenant feels looked after, they’ll feel more deeply rooted in the home and re-sign for another year. The last thing a landlord wants is a revolving door with new tenants every year because that means more moving pieces and more things that can go wrong.

Not every landlord is a mega-corporate landlord with countless units in their portfolio. Many ordinary people buy investment homes so renters can help pay the mortgage on their first home. If this is you, opt for the turnkey solution that professional property managers deliver.