WHY YOU NEED A PROFESSIONAL PROPERTY MANAGEMENT FIRM FOR YOUR REAL ESTATE INVESTMENTS
Any savvy investor knows that building a successful property portfolio doesn’t come without its complications. From problem tenants and maintenance issues to volatile housing markets, the challenges can sometimes seem endless. As a result, utilizing the skills of an experienced property management company is crucial for investors who want their investments to run as smoothly as possible and yield the best possible return. As property management professionals, we take care of wide range of essential functions which are not limited to the following:
We help real estate investors and property owners who do not want to be full time landlords through finding tenants, developing leasing and rental agreements, provide financial management through monthly or quarterly financial statements reporting outlining net rental distribution to the owner or deposited into the owner’s bank account.
· Coordinate repairs and maintenance related to the property,
· Dealing with tenants’ issues such as loss of keys, moving in and moving out,
· Whether it’s tapping into a network of contractors to handle the repairs or snow clearing and grass cutting.
A property management company also does all of the leg work involved with getting new tenants, including finding them, doing the background checks, and then managing them when they move in.
Through our experience, we have quite often run into many new real estate investors who overlooked the management of their properties, some often want to do everything by themselves and end up been exhausted, frustrated and sometimes ending up losing if not all their investments from one single mistake.
However, open-minded investors looks for professionals like us to help them out. Personally, we are investors too and so we understand the challenges of owning properties and we understand that a little mistake can cause major disaster in real estate management. We have often advocate that being a real estate investor does not mean that you have to take a phone call or email from a nasty tenant, fix a leaky toilet or leave your family to go unlock a door for a tenant late at night and many crazy stuffs. We can help your clients whether they own a single detached home, condominium suite or suites, a multi-unit residential properties, retail outlets, commercial outlets, industrial etc., we will help your client so they have a peace of mind knowing everything is handled and they will not have to take a call from a tenant.
However, forward-thinking investors seek professionals like us for assistance. Personally, we are also investors, allowing us to intimately grasp the challenges of property ownership. We recognize that a small oversight can lead to significant disruptions in real estate management. We consistently advocate that being a real estate investor should not entail personally handling unpleasant tenant calls or emails, addressing maintenance issues like a leaky toilet, or sacrificing personal time to respond to late-night tenant requests and other unexpected challenges. Our services extend to clients owning various property types, including single detached homes, condominium suites, multi-unit residential properties, retail outlets, commercial spaces, industrial properties, and more. We aim to provide your clients with peace of mind, assuring them that every aspect is professionally managed, freeing them from the burden of handling tenant matters directly.
Property management companies act on behalf of the landlord and shoulder the tasks that fall outside of most peoples’ comfort zone. Finding a suitable realtor, offering legal support services, and inspecting the property if it is empty are all functions that fall under the management company’s remit.
As property management firm, we play an important role in helping investors safeguard and maintain the value of their properties. Due to recent economic climate, and with interest rates rising, it is harder to find real estate and harder to qualify for borrowing, and that makes it even more crucial for investors to make sure they maintain their asset’s value. As property management professionals, we take preventative approach to repairs and maintenance, which means we deal with issues before they become big costly problems. It’s an approach that saves the investor both time and money as well as appreciate the value of their properties.
Oseye: Protecting Real Estate Assets
CEO
Oseye Cohen, an accomplished Property Administration Strategist based in Toronto and the Founder of 12 Gates Property Services, brings a diverse background in real estate, project management, and strategic planning to the forefront of property management. Specializing in protecting vacant properties during critical times, such as power of sale, evictions, and abandonment scenarios, Oseye's expertise shines in shielding real estate assets from potential harm during extended vacancies. Her authored work, "The Vulnerability of a Naked Property," underscores her authority on this critical subject. As an Associate Member of the Institute of Municipal Assessors, Oseye demonstrates her commitment to excellence. With a foundation in Real Property Administration and certification in Real Property Assessment from the University of British Columbia, Oseye adeptly navigates risk mitigation and property value maintenance. Alongside her dedicated team, she focuses on empowering real estate investors, landlords, Realtors, and private lending institutions by minimizing financial exposure and optimizing cash flow performance. Oseye Cohen's proficiency makes her a trusted figure in Toronto's real estate arena, dedicated to safeguarding and enhancing real estate assets.
Here are seven common challenges that landlords face that we can help you with:
1. Tenant Management: Finding and retaining good tenants can be challenging for landlords. We help landlords find high-quality tenants, handle tenant screening, and manage tenant relations.
2. Property Maintenance: Property maintenance and repairs can be time-consuming and costly for landlords. We handle maintenance and repair issues, ensuring that the property is well-maintained and that issues are promptly addressed
3. Marketing and Advertising: Marketing and advertising the property can be challenging for landlords. We handle marketing and advertising of the property, ensuring that the property is rented out quickly.
4. Legal Issues: Landlord-tenant laws and fair housing laws can be complex and difficult to navigate. We have knowledge of these laws and can help landlords avoid potential lawsuits and save time, money, and energy in the long run.
5. Financial Management: Managing finances related to the property can be challenging for landlords. We handle rent collection, budgeting, and financial planning related to property maintenance and protection measures.
6. Problem Solving: As seasoned property managers, we have encountered a wide array of issues over time, honing our skills in both identification and resolution. Our expertise enables us not only to anticipate potential problems but also to proactively mitigate them. With well-established systems in place, we maintain a high level of responsiveness and timeliness. We excel in assessing the underlying causes of problems, allowing us to stay well-prepared for effective problem-solving and prompt intervention.
7. Personal Benefits: Getting a property manager onboard can really take a load off landlords. We handle all those late-night emergencies, evictions, rent chasing, repairs, paperwork, and even finding contractors. This leaves you with more freedom to focus on other aspects of your life.
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