Whether you are buying a condo to rent out as an investment or buying a home with a basement apartment or a buying a duplex/triplex you NEED a property manager. Many times I have been asked the question, “why would I need a property manager if I buy a new condo, doesn’t the condo property management office take care of everything. ? ”
The answer is No, the property manager in your condo building is only in charge of the common elements, (common areas, mechanical systems, elevators, the building envelope etc) the only time the property manager will call you is if you don’t pay your maintenance fees or your unit floods the unit below. The property manager wont be of any help to you if one of the appliances in your unit fails, if the HVAC stops working, everything within the boundaries of the unit is your responsibility and that means when something goes wrong the tenant will be calling you.
And that is where I step in as your Property Manager.
Finding the RIGHT tenant is the first step, every tenant that rents a unit from one of my clients, meets with me in person. This sounds logical and you would expect that the landlord or property manager would always meet the tenant prior before letting them live in their property but that isn’t the norm. The majority of Realtors who list properties for lease on MLS will meet the tenant for the first time when they turn over the keys on move in day.
Property management doesn’t stop the day the tenant moves in, that’s just the beginning, throughout the duration of the lease, your tenant will call me with any question or issues and I will either attend to the issue myself, like fixing a leaky faucet or running toilet. If I cant repair it myself I will arrange to have one of my trusted service companies make the repair and send you the invoice. No time wasted by you trying to get a service company to show up, or arrange for yourself or the tenant to be there to let them in.
If you are looking at buying a condo or house to use as a rental or income property, give me a call and get to work with a Realtor who will be by your side at all times throughout the process.