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Having a rental property manager may seem like a luxury, but we believe it’s a necessity. Having a Condo Property manager look after your property can be beneficial in a myriad ways, many of which we’ll be discussing today. A quality property manager not only offers peace of mind but many tangible benefits that will be realized financially and personally.
At Magnum York we clearly believe in the benefits of having a property manager, a service we consider ourselves to be one of the best at. Having been in Alberta Property Management for over 20 years, we’ve seen all the trials and tribulations associated with property management and know how to traverse these situations. With that in mind, it seems like the right time to discuss all the ways in which a quality property manager can improve your experience and save you money.
Property Management Professionals in Alberta
Higher Quality Tenants:
A good property manager will be able to suss out who is a worthy candidate of renting a property and who is not. Having quality tenants helps the long-term health of a building by keeping solid tenants in their places for longer periods of time and having them pay their dues when it is required.
Fewer Legal Issues:
A property manager worth their salt can help navigate through any potential legal issues the building may have as well as see them coming and help to avoid any outstanding issues. All buildings have issues from time to time and having someone on staff who knows how to avoid them or work through them will save everyone money in the long run.
Better Prepared Rental Properties:
When it comes time to rent vacant properties, a property manager will be agile and have the property look its best in order to fill it as quickly as possible. When it’s your job, you take things seriously and ensure you are putting the needs of the condo first.
A condo manager and the company they work for have the resources to get potential rental properties into the market faster and louder than most individuals. This speed and reach go a long way in guaranteeing the speed of occupancy as well as a higher quality of tenant.
Proper Rental Pricing:
Managers and condo management companies will have a deep understanding of the rental market and will be able to properly price any vacancies. Knowing the market and being able to price properties properly so they are competitive yet fair is a major factor in pulling in potential tenants as well as keeping them.
Better Rent Collection:
As simple as it seems, collecting rent isn’t always as easy as one may think. A property manager can either set up the infrastructure to have things work automatically or be able to stay on top of those potential delinquents. It seems obvious, but consistent rent collection is what keeps the building operating and moving forward. Collecting it on time makes a huge difference for all those involved.
When there’s someone you trust to take care of the important aspects that keep your property running smoothly, it offers you peace of mind. Having that stress relief is a huge personal gain for many people. Managing a property on your own is a full-time job that most people don’t have the time to dedicate to. Having someone taking care of it for you is an immeasurable benefit personally.
With a property manager handling the day-to-day details and duties of your property, it frees up your time to do the things you want to do. Not only will you have more free time to indulge in your personal interests, but you will be able to confidently see your investment grow.
Higher Occupancy Levels:
Having someone with the time and expertise to handle vacancies means you will see consistently higher occupancy levels at your property. Pricing the properties at the correct level as well as being able to choose the right people all will lead to not only fewer vacancies but faster filling times in a competitive market.
Higher Retention Rates:
With a higher quality of tenant and competitive pricing, you will see much higher tenant retention rates for your property than others. Keeping quality tenants in their rentals is always a challenge, so being able to do this consistently will go a long way in protecting your investment.
Magnum York All Across Alberta
At Magnum York, we offer professional property management services throughout Alberta with offices in Calgary, Edmonton, Olds, and Red Deer. A call or visit to any of our offices will go a long way in alleviating any immediate and long-term concerns you may have.
The value a professional condo property manager can add is immeasurable and something we take pride in doing. Don’t hesitate to let us know if your property needs the care and assistance it deserves; we’re always standing by waiting to offer you our services and professional touch.