How Can a Property Management Team Save You Money?

Toronto is one of the busiest and rapidly growing cities in Canada with many opportunities to own a property for personal or investment purposes. There are a wide variety of areas with excellent market investment opportunities, from downtown Toronto to the influential east end to the outskirts of the Greater Toronto Area. A lot of duties and responsibilities come with being a landlord, including financial outlays, maintenance, and rental tax, which can be overwhelming at times. However, there are an excessive amount of ways in which investing in property management can aid you in, not only cutting costs, but also increasing your return on investment (ROI). With over 30 years of experience, we at Mareka Properties Ltd. are confident that we can help you make landlording a trouble-free experience and can trust us as your affordable property management team based in Toronto.  

When your property sits vacant, it is costing you money. With help from a property management team, you are able to reduce your vacancy lengths. Founder and chairman of the board of Renters Warehouse, Brenton Hayden, lists vacancies as the number one factor why owners hire property management service. Through reduced vacancy time you are able to save an immense amount of money. Once you have found a tenant, you want to make sure that they are trusted, without drama and hassle. Property management specialists are able to assist you in finding a respected tenant through thorough tenant screening, including; a criminal background check, verification of employment, and review of their rental history. A bad tenant can cost you more, for instance, unpaid rent or extensive damages can add thousands of dollars to what you would normally pay.

Reducing costs is valuable to any landlord. A property management team usually knows of many discounted services that are able to offer it less than the market rate. Some examples include; cleaning services, carpet cleaners, pool maintenance, lawn care, attorneys, accountants, and insurance representatives. You will also run into fewer legal issues because a good property management company knows all the laws that apply to certain areas of owning a property. In cases where a lawsuit in unavoidable, a property management team can refer you to their in-house experienced real estate attorney or another experienced attorney to guide you through your case.  

Mareka Properties Ltd. offers financial administration, administrative services, physical maintenance with experienced contractors and exceptional communication services. We are available 24/7 for emergency situations.

Looking for an affordable Toronto based property management team that can help you save money in the long run? Contact us today!