Owning and renting out a condo involves many responsibilities. If you decide to work with a management company, they’ll handle most of the responsibilities for you so you don’t have to worry about them. Here’s what to expect from a condo management company
Condo Management Companies Handle Rent
Dealing with rent is a common part of condo management. Your management company handles all the issues related to rent, including setting appropriate rates, collecting rent and any late fees, and adjusting rent.
A Condo Management Company Deals with Tenants
From finding and screening tenants to handling move outs and evictions, a Calgary property management company helps make sure your property is rented and your tenants are satisfied. They also handle leases and any complaints and emergencies.
A Property Management Company Performs Maintenance and Repairs
Keeping your condo in good, safe condition is important, and time consuming. A condo management company is responsible for the physical condition of the property, including preventative maintenance and emergency repairs.
Condo Property Management Companies Know Landlord-Tenant Law
There are many laws regarding landlords and tenants. There are regulations about screening tenants, terminating a lease, complying with safety standards, and more. Keeping track of all these laws is challenging at times, but a Calgary property management company stays up-to-date for you so that you know you and your property are following the appropriate regulations.
A Management Company can Aid in Filing Taxes
Paying taxes for an investment property can also be tricky. A property management company can aid you in understanding how to file taxes appropriately or can often file taxes for you.
Condo management is a big job, but not something you need to face alone. When you hire a management company, you can expect them to aid you in all areas of property management.
New Leaf Properties is a group of dedicated professionals with expertise managing residential properties for over 25 years. We offer a fresh approach to property management for owners and renters.