End-of-Year Prep Management and Setting Your Property For Success Before the Holidays

Managing properties isn’t just about the physicality of a property. It’s also about the partnerships in your residential building. Our Toronto condominium property management company can help you track conversations and deal on status across multiple applicants and tenants, to ensure that your property is running smoothly year-round.

We can help you improve your business efficiencies, helping you create a modern and automated system to provide fantastic service. Mareka PM can offer you affordable property management fees that will include building maintenance, tenant screening and provide you with ongoing support to reduce your stress. 

As we’re approaching the end of the year, there are some essential factors to consider to enter a new year, setting yourself up for success. You will probably find yourself kicking it in high gear within the next few weeks, and our property management services want to ensure you have a smooth journey ahead of you before you’re in the thick of December. Follow some of our recommendations and get ready for a wonderful 2022!

 

Minimize your vacancy rates

Generally, winter has some of the worst vacancy rates. Instead of waiting until you’re in the heart of the holiday season, market your empty vacancies now. Potential tenants will be more likely to look for an affordable living space before December and be motivated to sign a lease before the beginning of a new year. 

Reach out to your prospects by advertising your vacancies online, and adopt a digital marketing approach to filling out your units fast. We can help you establish attractive advertisements so that you will have tenants applying left, right and center before the year closes.

 

Get a head start on maintenance projects

Ah, the Canadian winter weather. While it doesn’t have the best reputation to help you get a kickstart on accomplishing maintenance tasks, it is imperative that you take the initiative to fix some of the maintenance problems before the year ends.

Small issues that you may not pay attention to can turn into much bigger worries when the temperature drops. Fix seals around doors, invest in ‘wet floor’ signs for your building and check if there is any water damage that may infiltrate the property after a large snowfall hits. If you’re unsure where to start, our maintenance team can help you identify the areas that need attention to leverage your condominium.

 

Make time to send out emails and letters

Although the fiscal year ends in December, we highly recommend sending out important emails and letters out in November. The holiday season can be overwhelming for a majority of your tenants, and it’s important to streamline communications with your residents well in advance. 

Through taking the initiative to examine correspondence times from your tenant board and your residents, you can correctly estimate timeframes for the upcoming year. Rather than calling each individual personally, take advantage of digital tools like texting and emailing that can help you reach out to them in seconds. This is your opportunity to thank them for the last year, what they can expect in 2022 and how you are always available if they require assistance. 

 

Whether your portfolio consists of commercial, residential or mixed properties, Mareka PM can equip you with the right resources to end 2021 on a great note! 

Getting through all of your end-of-year tasks doesn’t have to be a stressful process if you prepare yourself accordingly! Our experienced property management team can help you create a seamless transition for you and your tenants before the holiday season starts.

About author:
Mary is the CEO of Mareka Properties (2000) Ltd. She holds a CPM, RCM, and CRP designation, and brings over thirty years of experience to the helm of the company. Additionally, Mary has a thorough knowledge of the legislation governing the industry, an in-depth comprehension of building components, and a proven track record of guiding condominium corporations and boards of directors to success. She's the full package!

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