A property manager is someone who is in charge of overseeing real estate and everything pertaining to it. They are a third party (such as ICC Property Management) hired by a property investor or landlord to manage the day to day activities of the rental premises. Property management is a professional discipline and people who have studied it have the capability of carrying out various roles as well as dispensing advice that concerns real estate management.
Responsibilities of A Property Manager
The exact responsibilities that will be required of a property manager will vary based on a number of factors. Some of these include the type of property, amount they are getting paid and the terms of the management contract. Amongst the expected responsibilities of rent collection, managing the finances of the properties, marketing and advertising include other roles such as initiating litigation with tenants where necessary, handling liaison with banks, contractors and insurance companies, provision of equipment and tools, as well as handling repairs. Not all responsibilities are management related though. Property managers have a wealth of mental resources regarding the real estate market and are also very well suited to give consultative business advice.
Advice From a Property Management Company
The aforementioned business advice can be exactly what you need to help you grow or make the right investment decisions. For example, a Toronto property manager will be aware of the current boom in Toronto’s condominium construction rush and could give you advice on whether it is the best time to invest in real estate. The business advice here can be seen as a professional’s insight or outlook on a particular subject matter to which you might not have the best understanding of.
Have a Clear Vision
Property managers would have a clearer picture of what is going on in the industry, its current problems, laws and where investment opportunities lie. Business advice can not only be limited to revenue and sale maximization but can also cover value addition. Furthermore, a property manager can give you a professional assessment of your property’s rental value and provide analysis of the real estate market and how it stands.
Understand Your Market
Good property managers will, therefore, know their market very well and are a treasure trove of information when it comes to property. ICC Property Management is one of the premier property management companies in Toronto. They have received a number of awards and recognition for the excellent practices and standards they have set in the industry. Besides providing management services, they also give free business advice concerning real estate in Toronto.
These helpful advice has been of impact to anyone keen on property in the city. Some of the resources that they have made available for download as eBooks include 13 ways to keep your property safe, 5 ways to increase the value of your rental properties, 6 steps to help you pick the right property manager and the top 6 issues with condo property management. This firm manages apartments, condominiums and oversees single-family houses in Toronto; you will not go wrong with such advice.