The answer: A lot more than you think.
What does a property management company do?
If you’re curious, you’re not alone. We get this question a lot, which is why we’ve decided to highlight what’s important.
A professional property manager does these five things really well:
1) Shows Off Your Place
A property manager excels at marketing your property to prospective renters. Inspiring photography and detailed write-ups will make your place stand out in a crowded rental market. The company’s website and attention to detail speak volumes about how your property will be cared for.
2) Makes it a Home
A property manager will have a time-tested process to select your tenant–one who will treat your place as their own. A thorough property manager will communicate the (building) rules and procedures clearly and help a tenant settle in, making all the difference.
3) Is a Jack of All Trades
Property issues are unpredictable. Everything from an emergency flood to loss of house keys can occur. With a strong network of handymen, plumbers, and cleaners, a property manager will react with speed and diligence–saving you time and headaches.
4) Plays by the Rules
Property owners face a growing number of rules and regulations related to rental properties. In Metro Vancouver, property owners are seeing several updates to the B.C. Residential Tenancy Act, the City of Vancouver Empty Homes Tax, and to the B.C. Speculation and Vacancy Tax. A professional property manager will monitor these regulatory changes, navigate through the confusion, and manage your property with local expertise.
5) Keeps Things Simple
Reading the fine print shouldn’t reveal extra charges for routine services like a lease renewal, or accounting statements. A simple fee structure makes for a strong foundation and a trustworthy relationship with your property manager.
Whether your property provides for investment return or capital preservation, a professional property management company minimizes the stress and maximizes the long-term value of your property. If a property manager checks off the five tests above, they’ll help make your property a great home for a great tenant.
Birds Nest Properties is a boutique rental property management company that specializes in serving owners of condos and houses in and around Vancouver.
Thinking about renting out your property?
Call us at 604.260.9955 to learn about how we work.