If you are looking to hire someone to help you find tenants for your rental property, a real estate manager and property manager might look similar.
After all, they are involved in the rental industry and they can both help you find tenants for your newly rentable condo.
But once you begin searching to hire one or the other, you will quickly find out that a property manager does much more for you in the long run, even after you’ve found suitable tenants to rent your condo.
Who Is in It For the Long Run?
Real estate agents only deal with the leasing aspect of your property and will no longer be working with you once the property is rented. If your new tenants cause damage a month into their lease and you’ve never dealt with something like that, the real estate agent won’t be of any help to you and you’ll be on your own to figure it out.
Property managers work with their tenants on an ongoing basis long after they help you find the perfect tenants. Property managers are experts in the field and deal with a variety of things so the condo owners don’t have to.
Property managers will help you market your condo, find the perfect tenants, and much more. They are your ongoing partner in this project, helping you earn as much profit on your rental property as you can.
Who Has Your Best Interests In Mind?
A realtor is only working with you until you find tenants to occupy your condo. After that process is complete, they have no obligation to manage the unit and make sure things continue moving properly.
Most realtors in Toronto will charge a baseline fee for finding a tenant. While they will aggressively market your listing, they won’t provide you with any support afterwards.
Property managers have an invested interest in ensuring that they find the best tenants possible. They will be responsible for maintaining your unit, handling requests from your tenants, inspecting it, and a wide variety of services.
Property managers always looking to impress the property owner and will make sure they put in the proper effort that is needed to have your rental condo run smoothly and efficiently.
Who Does the Most For You?
Property management companies continue to manage your property beyond the portion of the contract and are there when something happens—no matter if it’s at the start of the lease, or the end. These property managers are contracted to provide active management and handle many different things for you:
- Regular maintenance to the condo when needed.
- Collecting rent payments from tenants every month.
- Evicting tenants (when needed).
- Handling tenant issues and complaints.
- Performing regular inspections on the property.
- Working with your condo association to make sure you are following property rules.
- And much more!
Property managers are a one-stop-shop for condo owners, so they can sit back and enjoy earning money off their rental.
Who Will Really Care?
It’s in the best interest of a property manager to find suitable tenants who won’t be a problem when they go about their regular activities to manage your property. A bad tenant will make a property manager’s job harder and increase their costs, so they do their part in finding the best tenants and making sure they follow all the rules and regulations.
Real estate agents will care about quickly finding you tenants, will get paid, and move on to the next client.
A Property Manager Will Help You Succeed, Even After Your Condo Is Rented
Property management companies like Del Condominium Rentals offer a lot of value-added services over real estate agents and other competitors.
From our in-house paralegal department that we use to handle minor legal disputes with tenants to our network of preferred contractors who can handle repairs and maintenance, Del Condominium Rentals can help you increase the ROI you generate from your condo.
If you are interested in working with Del Condominium Rentals, please call us today at 647-952-3644 or email us at sales@delrentals.com
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