Leasing an investment property is one of the best ways to maximize your returns and benefit from tax incentives. Being a landlord can be a lucrative and fulfilling endeavour however it comes with many responsibilities. A properly managed property will yield profits, while a poorly managed property will almost certainly cause a significant amount of stress and financial loss.
A Property Manager is well versed in the local law and understands the requirements of both the tenant and landlord. Managing a property correctly can be a time consuming process. A Property Manager will ensure your property is regularly inspected and taken care of by a tenant. Any maintenance issues will be promptly addressed.
Tenants who are not fulfilling the requirements set out in a lease must be dealt with correctly. If a tenant is not paying rent, damaging property, or causing a nuisance they must be dealt with properly according to the law. If a landlord does not comply with the law when handling tenant issues the legal process could be prolonged and lead to more financial losses. A Property Manager will file the correct notices to the tenant and file the right applications to the Landlord and Tenant Board. This will minimize the time it takes to evict a tenant and/or recover costs. Further, a Property Manager will assist with the delicate process of vacant possession. This means all correct notices will be given when a property is sold with a tenant.
Utilizing the services of a Property Manager will take a lot of stress away from the landlord. A Property Manager will:
•Inspect your property regularly
•Provide Comprehensive Accounting to Owners
•Comply with the Residential Tenancies Act
•Serve Appropriate Legal Notices to Tenants
•File Application to the Landlord and Tenant Board
•Representation at the Landlord and Tenant Board
•Timely Rent Collection
•Effective and Reliable Maintenance
•On-going and Regular Communication with Tenants and Clients
•We Facilitate Vacant Possession when a Property is Sold.
•Recover Cost of Damaged Property While the Tenant has Occupancy.
Cityscape offers Property and Tenant Management Services to our clients:
Gooplo Management Inc.