The value of property management
Good property management helps to maximize the return on your real estate investment – and minimize the risk. At 460 Property Management, we see our work as a very important part of your life. Our managers know this community inside and out; every one of them has years of experience on Vancouver Island. We are experienced professional communicators who know how to negotiate contracts, collect rents on time, mitigate disputes, and liaise with strata corporations and insurance companies – all with perfect professionalism. We’re also well-connected within the trades community, and available 24/7 so that your property receives the best care available when it needs it. This is an important investment for you. Every detail, every little action, helps to protect that investment. We’re very aware of that, and that is good value indeed.
What we offer
At 460 Property Management, we put all of our expertise and experience to work for you and your investment property – keeping it well-maintained, consistently occupied, and generating income. Our local know-how and years of experience make us uniquely capable of carrying out this work with minimum stress for you – while generating the maximum value. We handle everything, from end to end, including:
- Preparing and placing all advertising of your rental property on our own website, on Craigslist and on Kijiji, as well as coordination with local newspapers.
- Scheduling visits and showing your rental property to prospective tenants, and vetting suitability of all prospects.
- Processing each tenant’s application, including landlord reference checks, employment checks, a check through Tenant Verification services, and a credit check.
- Generating a detailed top-to-bottom inspection report signed by both the tenant and the Property Manager at the start of tenancy and end of tenancy, ensuring that every detail is checked and that a full understanding of responsibilities is imparted to prospective tenants.
- Ensuring that tenants are only accepted with a full security deposit (and pet deposit, if required).
- Conducting a thorough checkup of your rental unit every four months, to monitor that your property is being maintained with the utmost respect and tidiness.
- Maintaining a pooled trust account, where monthly rental cheques are deposited.
- Collecting rent from tenants, and managing direct deposit of rental funds into landlords’ accounts, or mailed cheques where preferred.
- Mediating conflict and dispute resolution, where necessary, in the most stress-free manner possible, with professionalism and expediency. We attend any hearings necessary, and arrange for bailiff’s court actions for evictions and payment in arrears, etc.
- Generating a clear and detailed monthly statement of accounts and expenses plus original paid invoices to the landlord.
- Generating a year-end summary of all expenses and credits.
- Drafting a full tenant agreement under the Residential Tenancy Act.
- Coordination of filing of NR6 and NR4 forms to Revenue Canada (and relevant accountants, etc.), as well as any ongoing remittance of non-resident withholding tax to Revenue Canada.
- 24/7 emergency response and coordination of all outside first responders where necessary.
- Notifying and discussing with the landlord any repair or maintenance item that is likely to exceed $500.
- Full residential apartment building property management, including all operations of caretaking, maintenance, tenant selection/screening, and more.
Of course, you look for the best value in a property management company, and low fees are a part of that equation. But fees must be viewed in context, as well. The company you hire will be responsible for one of your biggest assets. The last thing you want to do is make your decision based solely (or even primarily) on who charges the lowest fees. When making this decision, naturally, take a look at what other companies are charging, the scope of services provided and the quality of the services provided. Does everything line up with exactly what you need, protecting your property and ensuring that it continues to perform for you, year after year? That’s the kind of service we provide every day.
For a detailed proposal, and to discuss your options with 460 Property Management, please don’t hesitate to contact Carmen Beattie, our lead Property Manager.