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When Should You Switch to A New Property Management Company?

November 26, 2019 By Zee J Leave a Comment

condo management

Do you currently work with a condo management company? Are you unhappy with their service? There are many reasons why your relationship with an existing property management company may not be working out.

Whatever the reason, you may find yourself searching for a new condo management company. Things are not always perfect between condo owners and property management companies. And you wouldn’t be the first person to change property managers.

We’ve had many clients come to us after working with another property management company. So, we know all too well about this issue.

Here are several warning signs that may suggest that it’s time to change to a new property management company.

  1. The Service Is Not As Advertised

Many condo owners agree to work with a condo management company because of the promises they make. It’s not uncommon for smaller companies to over promise and under deliver.

But this is a major problem for you when you’re relying on a company to manage your property effectively.

A property management company strives off of delivering on its promises to its customers, and it’s what makes up their core values. It’s that same belief that drives our success here at Del Condominium Rentals.

Here’s what we recommend you do.

Take a look at the documents you have from when you first signed the contract and compare the details with what the property management company is delivering.

If the services are not reflecting the contract you signed with the property management company, and it doesn’t look like things will change, you should switch to a better company. Simply communicate that they aren’t fulfilling their duties, and look to terminate the contract.

  1. They Have Breached The Contract

A breach of contract is an obvious reason to terminate a contract and look for another property management company.

You should look into the legalities of what happened if you experience this problem. You may need to take further legal action if the property management company has breached the contract and caused material damages.

A reputable property management company will respect the terms of the contract and work with you to keep your property in the best condition possible.

  1. Poor Condo Inspections and Maintenance

Your condo will require a yearly inspection and maintenance to keep it in a livable condition. Wear and tear are inevitable, even with the best tenants.

You should consider switching property management companies if the property maintenance and repair processes aren’t up to the standards that you were hoping for. Your property is valuable, and it’s important that this asset appreciates over time.

Different property management companies have different contractors they use for the work they carry out. If the quality of the work is questionable, your property management company may not be using the best contractors.

Bring this up to them to see who they are working with and to determine whether their service providers are reputable.

Many condo management companies take pride in the maintenance and repair work they provide for their clients. These are the types of condo managers you should look to hire.

  1. Missing Deadlines

There is a long list of things the property management company will have to do, including:

  • Having rent delivered on time
  • Filling the condo with new tenants as quickly as possible
  • Enforcing new lease policies
  • Making requested changes to the condo.

These tasks need to be completed on time if you want to avoid disruptions. Deadlines are binding and should always be followed.

Failing to follow deadlines, especially the collection of rent and making sure the condo is occupied is a huge difference between a good property management company and one that is not so good.

Are You Unhappy With Your Current Condo Management Company?

Del Condominium Rentals simplifies the condo management process for you. We take care of all of the challenging parts of being a landlord, allowing you to reap the benefits with reduced risk.

We work with clients in Toronto and the GTA who have come to us after working with other companies, and we are always happy to win over new clients with our exceptional customer service and industry-leading performance.

We have the experience, expertise, and the desire to make your condo management experience a positive one. Contact us today to learn more about how we can work together by calling 647-952-3644 or emailing sales@delrentals.com

Are You Interested in Working With Del Condominium Rentals?
Submit your info below to download FREE eBook and learn more about our services, management cost and more


Filed Under: Condo Rentals Featured Story Tagged With: condo management, condo management company

5 Questions to Ask When Hiring a Condo Management Company

September 5, 2019 By Zee J Leave a Comment

Condo Management Company

Condo Management Company

It doesn’t take long for most condo owners to realize how time-consuming it can be to manage your rental property.

Staying on top of the upkeep at your condo and dealing with incoming or outgoing tenants can eat up a huge chunk of your time, especially for someone who is inexperienced. You could easily find yourself stressed out and overwhelmed, especially if one wrong decision ends up costing you a lot of money.

An individual property manager is always an option, but oftentimes they are not reliable and cannot dedicate the time you need to run the property how it should be run.

That’s why condo management companies have become so popular among condo owners looking to make money from their property consistently.

A condo management company can save you time, money, and a ton of hassle. In a perfect world, you’ll be able to put your feet up and collect a cheque every month while the condo management company keeps things running smoothly.

Here are five questions to consider when looking for a condo management company:

  1. Are They Reliable?

A successful condo management company must be reliable. That means offering a dependable service that is consistent. They will be there when there is a problem, whether it’s to carry out a repair or deal with a tenant.

A good property management company will have an impeccable reputation for reliability and will be there when called upon.

If you want a completely hands-off experience with your property, look for a condo management company that is known for its dependability.

  1. Do They Understand Rental Laws?

You’ll need somebody that is on top of the latest landlord and tenant laws, condo rules, and someone who can easily adapt to changes that may happen in the future. A company with many properties and years of experience will have an inside line on all of the latest laws.

These companies will understand how to engage with the Landlord and Tenant Board, how to deal with common tenant complaints, and other issues.

A small-time property manager may understand how to manage a property, but they may not be as familiar with the laws that govern them. Tenant complaints are a serious matter, and they can cascade out of control if not handled properly.

Here’s what we recommend.

Ask the condo management company you’re considering how they would handle specific situations, including:

  • Complaints about your property being unfit to live in
  • False claims that repairs didn’t occur
  • Late rent payments

There are many ways to navigate these issues, but a reputable condo management company will have set processes for each.

  1. Are They Experienced?

An experienced condo management company has seen it all from their years of experience. Chances are, they’ve come across some of the issues you may have and will be better able to solve them for you.

A condo management company will save you time and money through the years of the experience they bring to the table.

How can you determine experience?

Take a look at what properties they are managing, and what areas of the city they are present in.

You can also look at their reviews online. While reviews aren’t perfect, they can provide you with valuable insight into a company’s style of management.

  1. Do They Have Access to High-Quality Service Providers?

Maintenance and repair costs can quickly add up, especially if you are working with service providers that you are unfamiliar with.

Condo management companies usually work with preferred service providers to carry out maintenance. This means they can get a repairman to your condo’s door very quickly, and they know the work that’s being done will meet your standards (and the building’s standards).

You won’t even have to lift a finger as the condo management company works with the maintenance worker when doing upgrades or repairs. This will save you a lot of money over the years by working with the same people on the upkeep and upgrade of your condo.

Asking a potential condo management company about who they use for all of their property maintenance will give you an idea of how it will work when the time comes for repairs or renovations.

You can even search for these service providers online to see what others are saying about the quality of their work.

  1. Do They Offer Customer Service?

Just like in other businesses – customer service is king in property management too. If you and your tenants are unable to receive the very best customer service, then you haven’t hired the right condo management property.

Hiring a condo management company with great customer service will save you headaches because your tenant’s questions will be answered without much work on your end.

Your condo represents a large investment by you. You want to know that your investment is being protected, and the customer service team is often your first connection to your property management company.

Reliable Property Management Starts with Del Condominium Rentals

Del Condominium Rentals know how much time and dedication it takes to manage a property. We have over 30 years of experience assisting property owners with their condos.

You can count on us to protect your investment, manage your property, and help you make money as a landlord with none of the responsibilities.

Are you interested in learning more? Please contact us at 647-952-3644 or email sales@delrentals.com to learn more about how Del Condominium Rentals can help you.

Are You Interested in Working With Del Condominium Rentals?
Submit your info below to download FREE eBook and learn more about our services, management cost and more


Filed Under: Condo Rentals Featured Story Tagged With: condo management company

Condo Property Management

April 22, 2016 By Zee J Leave a Comment

When you’re choosing a condo property managament company to rent and manage your condominium in the Greater Toronto Area for you, you want one that will do all of the work … and save you all of the worry. This dream company should handle the marketing, the tenant, the maintenance, the finances and legalities … and give you easy access to everything that’s being done, whenever you want it.

This company is Del Condominium Rentals. Because your best interest is in our best interest, we’re as committed to getting a great return on your condominium investment.

Every member of the Del Condominium Rentals team is a highly experienced, deeply committed professional with one common goal: to be worthy of the confidence you place in us to handle your valuable investment.

Please visit us https://www.delrentals.com or call us 416.296.RENT to discuss your condo management needs!

Filed Under: Condo Rentals Featured Story Tagged With: condo management, condo management company, condo property management

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Del Condominium Rentals (DCR) is a full service rental management company. For more information about our program and how to have your suite professionally managed, please contact our Head Office at 416-296-7368 or email us at info@delrentals.com

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