As a real estate agent and property manager with Re/Max Accent, I want to take a moment and introduce myself, because after many years of being in the industry, I have seen the property management side of the real estate business really boom. I have been doing property management in Richmond Hill professionally since 2000. However, I have been buying real estate for most of my life. I have bought homes, remodeled homes, rehabbed homes from the ground up, been involved in new construction, sold homes, bought homes to flip, and I’ve rented out a lot of the homes I’ve purchased. I manage those rentals myself.
Established Processes and Systems
So, through the years of all the professional development and all the personal experience that I have gained with my own real estate investments, I feel like I have a good idea of what someone is looking for when they’re hiring a property management company to handle their investments. I’ve made some mistakes and learned some lessons the hard way, but fortunately I’ve learned those lessons on my own dime and not anyone else’s. I have set up my system and my property management company through all the experience that has been gained through these years.
I am personally involved in every process, and I personally qualify each tenant for a property I manage. When that tenant is approved for your home, I sit down with the tenant and face-to-face, and I go over the lease and the documentation that the tenant must sign. I want to make sure that tenant understands their responsibilities, and I want to set clear expectations.
Tenants may have rented in the past, but one thing I’ve learned is that real estate operates differently in different parts of the country. So, a tenant’s expectations might be different from ours. We want to make sure we are all on the same page, so I make sure to take the time to explain what the tenant’s responsibilities will be and how the processes will work.
I also conduct regular inspections at the property. Again, I want to make sure the tenant is taking care of your home. A lot of people are renting out their properties because they’re struggling to sell them. but I also know that this is a huge investment for you, and often there’s very little profit margin. So, you want to make sure that house is taken care of. We want to make sure there aren’t any owner maintenance items that need to be addressed. This is a saturated market, a high demand market, and a fast-moving market. When you have a tenant in town for the weekend, you want to make sure your property shows as well or better than the competing properties.
Many long-term relationships have been established with vendors in every industry. Whatever issue we’re having with your home, I have a vendor who can take care of it. Those vendors are also another set of eyes on your property. They know I’m going to drill them when they’ve been in your property, and they are prepared for that. It’s another service they do for me. They’re taking care of the leaky sink but also looking around and reporting anything I should know.
It’s crucial for the tenants to know that we are always there for them. It has to be a win-win situation that’s successful for all parties involved. We want to have a successful, profitable, pleasant transaction with everyone involved.