Questions to Ask Your Condo Property Manager Today | Landlord Property Management, GTA

As a landlord looking for the right property manager is very important but can be a bit of a struggle as well. In Toronto there are especially so many options and it can feel overwhelming if you’re not sure how to approach refining your search and potential candidates.  

Mareka knows all of this and provides you with landlord property management in Toronto. Our team is experienced and ready to show you why we are one of the top condo property management companies in Toronto. With these questions you will know how to refine your search and only work with the best.

To start off; What does a condo property management company do?

A condo’s management company’s main focus is maintaining the property and ensuring everything goes smoothly; this includes working with you, the condominium board, and any potential renters. A management company will help guide you with matters involving  managing the condos’ finances, environmental standards, handling any CC&R violations, answer any questions and concerns, manage the condo’s insurance policy, enforce community policies and regulations on behalf of your HOA, and much more. 

Property management companies partner with your board of directors to optimize property values, ensuring a harmonious living environment for everyone. The support you along the way with any condominium suggestions, inquiries, problems, concerns.

Find out their management routines

There are various things that need checking up on regularly to have a well maintained and successful property. Instead of a company that reacts late and only notices something is wrong after the fact, the best match will be one that catches issues before they happen and help you handle them. Asking how often they inspect a property and the depth of an inspection can show you if you might need to move on to a different company. Working with such a company can be a leading to unexpected but preventable damages, accidents, and expenses.

How will maintenance be addressed?

On the topic of inspections and maintenance this another big signifier to if a company would be a good fit. Typically, it’s an option to arrange to have your property manager contact you for permission if maintenance costs go over a certain amount. It’s suggested to keep that amount to a lower number in the hundreds actually, so you will be up to date right away on larger expenses, and can authorize any costs. 

Another thing is to check up front is if they have any additional expenses related to maintenance, sometimes companies can add on up to 10% on your maintenance costs. It’s best to know this right away when going in, to avoid any surprises expenses later on.

Ask How Many Properties They Manage

Knowing where their workload falls can tell you how much time they will be able to dedicate to you.  Finding out how many other properties are under their care is important information in the search for your perfect property management company. Learning how many employees manage their units is a good way to see their position. If there are over 40 properties to an employee this can be a sign they are working with too much and not properly handling distribution which can cause slacking with their units/properties. The more they have to handle the more it would be impossible to put the time and dedication required for each unit and tenant.

Looking for a trusted property manager in Toronto?

Take advantage of the great benefits of the right property management company backing you up. With decades of experience and expertise with management Mareka has you and your property in safe hands.

Contact Us today to set your property up for success!