Owning and operating a residential property is a lot of work, especially in a vast and constantly evolving market like Toronto.  

Whether you own one building or have a multi-property portfolio, hiring a professional property manager can make the experience much smoother while actively amplifying your investment. 

However, no two service providers are the same, and choosing the right manager for your property will be imperative to your success as a landlord. In this blog, we’ll provide industry-backed advice to help you do exactly that. 

Curious about InTrust’s encompassing property management services? Click here to find out more.

Protect Your Bottom Line

Working with a professional residential property manager comes at a cost, and therefore is an investment in and of itself. To that end, choosing an unreliable or underperforming management group could be detrimental to your bottom line. 

Consider this – the investment value of your residential property is twofold. First, there’s the equity you’ll earn through long-term appreciation and resale value. Second is the recurring passive income earned through rental tenancies. 

Rather than eat away at your finances, the right residential property manager can optimize your property to maximize short and long-term ROI potential through operational efficiency, delinquency management, intelligent property upgrades, access to preferred-rate contractors, and more. This value elevation safeguards your bottom line while simultaneously bolstering your returns. 

Specialization & Industry Relationships

Rather than stretch their attention thin, a quality property management team will take a specialized and focused approach to their services. This dedication ensures you’re getting the best guidance and degree of support available.

A well-established management firm will also hold close ties with other reputable players in the real estate industry. These connections can be significant when it comes to optimizing your investment. For example, property managers with established networks can access top-rated contractors, maintenance providers, and legal advisors – translating into better service and lower costs for landlords. 

Searching for more insights on residential real estate investment? Consider these related resources from our blog.

• A Landlord’s Guide to Estate Planning
• Upsizing Your Multifamily Property
• Unpacking Mixed-Use Properties

Be Technology Conscious 

Despite modern advancements in technology, many property management services aren’t up to speed when it comes to tech integrations. Therefore, as you vet various property management companies, pay close attention to how they incorporate contemporary technology into their services. 

Online portals – like the ones utilized by InTrust, allow your tenants to pay rent, submit maintenance requests, and access documents at the click of a button. On the other end, these same platforms also provide you the landlord with real-time updates on tenant payments, delinquency, vacancy rates, scheduled maintenance, and more. 

Beyond creating greater convenience for you, a tech-forward management team can also be a value add for your tenants. Today’s renters are forward-thinking and tech-savvy, they expect to be able to make payments on their mobile devices and have around-the-clock access to support should they need it. You can offer this to potential tenants simply by partnering with the right professional management company. 

Ask For References 

As a landlord, you wouldn’t sign a tenant without asking for references, and the same applies to choosing a property manager. After doing your research and meeting with various management companies, it doesn’t hurt to ask for references – especially if you’re seriously considering working with them. 

Be wary of managers who are hesitant or refuse to provide references. A reputable and trustworthy management company will gladly connect you with existing or past clients. If for some reason you’re unable to reach a company’s references, take time to comb through any online reviews or testimonials you can find. These can provide valuable insight into a manager’s reliability, degree of professionalism, and the overall value of their services. 

InTrust’s Residential Property Management Services

Searching for a bespoke, full-service management experience from leading real estate experts? Look no further than InTrust. 

Eliminating the stress and labor involved in residential property management, we help you bolster your net worth by holding onto your investment for longer. Rather than set back your returns, our professional services elevate investment through operational efficiency, intelligent tenant sourcing, streamlined rent collection, and delinquency management, relationships with vendors and contractors, and more.

Searching for an uncompromising property management experience? Get expert guidance from our team. Call 289.312.5451 or reach us by email at Julia@InTrustCRE.com.