Outsourcing core functions to a reputable property management company is an easy and affordable way for an investor to ensure that their property remains in great condition and maintains its value. In many cases, investors who attempt to do everything on their own find themselves in situations that they are not prepared for.<\/p>\n
\u201cThere is a real financial risk for an investor who decides they can do everything on their own,\u201d says Jason Duncan, CEO of RentalMiles.\u00a0 \u201cLandlords do collect a security deposit but if a tenant causes damage that goes beyond that cost, and it cannot be proven to be their fault, the investor could end up in serious financial trouble.\u201d<\/p>\n
Duncan also raises another hazard that\u2019s just as serious but not often considered by landlords: the risk of physical harm. \u201cThe landlord might end up getting into dangerous situations if they are in dispute with a volatile person,\u201d Duncan says. \u201cThere are laws in place to protect you, but situationally speaking it could be risky if you end up with somebody that you were not able to do proper background checks on.\u201d<\/p>\n
All of these potentially risky scenarios can be avoided by hiring a professional property management company. From screening for high quality tenants and managing marketing and listings to handling any legal situations that arise, property management companies give investors the sort of peace of mind that is hard to find.<\/p>\n
\u201cInvestment properties typically play an important part in an individual\u2019s retirement, so there is a lot on the line,\u201d says Duncan. \u201cWe hire experienced agents who know all of the ins and outs of renting properties and the potential risks. We handle all tenant placements on behalf of the property owner and manage all of the listing services throughout various marketing websites. We have that experience of screening people to make sure the investor has quality tenants in their property.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Outsourcing core functions to a reputable property management company is an easy and affordable way for an investor to ensure that their property remains in great condition and maintains its value. In many cases, investors who attempt to do everything on their own find themselves in situations that they are not prepared for. \u201cThere is […]<\/p>\n","protected":false},"author":1,"featured_media":20230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/7838"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=7838"}],"version-history":[{"count":1,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/7838\/revisions"}],"predecessor-version":[{"id":21151,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/7838\/revisions\/21151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/20230"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=7838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=7838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=7838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}