Managing tenants can be challenging without proper tools and experience. Landlord-tenant disputes require unique skills to diffuse conflicts efficiently and avoid legal intervention. Rent increases, eviction notices, payment collection, maintenance requests, unit access, move-in and move-out coordination, and dealing with illegal activity are common disputes where mediation is necessary. Hiring a Rental Property Manager can help to save time and money, minimize tenant turnover, prevent property damage, maximize rental income, and reduce stress.
Extensive Residential Tenancy Act Knowledge
The Residential Tenancy Act (RTA) is complex and requires extensive knowledge. A Rental Property Manager’s job is to educate clients, act in their best interest, and protect them from potential conflicts. Hiring a property management company ensures RTA compliance and sets clear boundaries regarding rights and responsibilities.
A Neutral Middleman
Managing a rental property alone, while separating personal and professional life can be challenging. A healthy tenant relationship can be beneficial but can also cause more work when boundaries are pushed. Hiring a Rental Property Manager limits involvement and allows for a seamless rental property experience with fewer hiccups. A Rental Property Manager is trained to listen and see both sides of the story before offering their professional advice and taking action.
Detailed Record Keeping
A paper trail that includes emails, phone calls, texts, and other methods of communication is crucial for managing properties, especially when it comes to payments, expenses, and mitigating potential liabilities/lawsuits. Rental Property Managers have an organized filing system and sound way of record keeping.
Binding Lease Agreement
A detailed lease agreement is critical for minimizing miscommunication, outlining the rights and responsibilities of both the Landlord and Tenant, and reducing disputes. Lease agreements should not be drafted without consulting a professional for added protection. Rental Property Managers have immense knowledge, experience, training, and have a good understanding of the BC rental laws (Residential Tenancy Act). They are there to offer professional advice and guidance and always look out for their client’s best interests.
Effective Communicator
Communication is vital when managing people and properties. There are several notices and time-specific requirements required by law. Neglecting Landlord responsibilities can result in unexpected costs, or worse. Rental Property Managers are excellent communicators who understand request/notice requirements well.
CENTURY 21 Prudential Estates (RMD) Ltd. is committed to ensuring your rental property has a consistent, secure financial cash flow by placing and retaining quality tenants. They simplify rental property management by taking on all the day-to-day activities of managing an investment property, so you don’t have to. Their Rental Property Managers have proven results, years of experience, and a thorough knowledge of the RTA to help mitigate risks. Whether you need help with Landlord-Tenant mitigation, financial budgeting, or day-to-day rental property tasks, their team is here to optimize your investment.
