In this episode, Rob discusses the in’s and out’s of how to choose and hire a great property manager and some great tips for those who self manage.
Check out the rest of the interview here:
– Why you might need a property manager.
– What do property managers do that self managers often miss (you could be liable).
– Professional tenant know what they are looking for in a landlord and know how to present themselves.
– What makes a good property manager.
– The three fee structures of p.m’s and which is best.
– At the end of the day a good property manager will give you the service you signed on for.
– The difference between good and great comes down to a couple factors…Focus, value
– Don’t trust Google reviews.
– When you purchase a property, it all comes down to numbers.
– What are you paying for?
– The property manager should drive cost out of the equation.
– Listen to the recommendations of your p.m.
– Don’t be invisible, don’t ignore your investment.
– If you’re going to self manage, the first thing you have to do is learn the laws.
– Don’t believe everything anyone tells you.
– Check your emotions at the door…as a professional, you can’t be emotionally involved.
About Rob Hilton:
We professionally manage over 600 rental units in Simcoe County and take great pride in making sure we separate ourselves from the competition. As of November 1, 2014 we are pleased to announce the official launch of A.G. Secure Property Management, Hamilton Division, and November 15, 2015 we have also launched our new Collingwood and Wasaga Beach office. I have included a copy of our brochure, newsletter and cost calculation form, for you to review, as well as a link to one of our current listings. I look forward to the opportunity to discuss with you how we can help relieve the stress associated with being a landlord, and support your long-term goal of greater returns on your real estate investments.
Here is a list of just some of the services we provide:
Renting of units:
Ø Advertising vacancies (Website, Photos, Advertising, Property Signs)
Ø Showing the property (Setting appointments, Showing the unit)
Ø Application process (Reference checks, Confirmation of income, Credit reports)
Ø Move in and move out inspection reports
Ø Small fee for vacancies in first 3 months of contract, after that all services are provided free of charge
Ø Weekday office is open, 24/7 Emergency support
Ø Deposits, Rent Collection, Increase notices
Ø Immediate filling of ORHT forms
Ø Partnership with Landlord Legal, ensuring the best representation if a hearing ever arises
Ø Great team of service contractors, with preferred rates and no up charge
Ø Payment of Property Bills for the landlord
Ø Regular inspection of the property
Ø Monthly statement for quick year end summary for taxes
Both my partner and I went into this business when we had some issues with one of the property management companies that we had hired. We realized that nobody in the industry was willing to put themselves at risk when managing a property. No matter what the landlord was going to pay for services. So we adopted a program of fees based on rents collected. If your unit is vacant, then we don’t get paid until it is rented. If a tenant is not paying rent, then we should not be charging you if you are not generating income. We also have a lifetime warranty on tenants that we place, ensuring that you never get charged a re-rental fee on any of your units in the future.
We took this philosophy even further to do what most landlords can’t and property management companies fail to do. With over 190 landlords and 600 plus rental units we can work as a collective group. Our size brings us negotiating opportunities when working with vendors and service providers. These opportunities allow us to find cost savings for our landlords to further improve their cash flow, by keeping costs lower where possible.
If you have any questions please do not hesitate to call us and we will be more then happy to address them. Better yet, if you have questions you would like to ask some of our landlords, let me know and I would be more than happy to open a line of communication.