Why
Hire a Professional Property Management Company?
Owning a commercial property investment involves much
more than simply collecting rents. A professional property
management company brings a standard to the industry
that addresses the needs of both the owner and tenant.
You have most likely heard some of the following statements
from either tenants or landlords:
From the tenant:
- The owner jacked
up my rent for no reason, therefore I'm looking to
move
- Can the owner charge me for his or her property
taxes?
- The building is in terrible disrepair -- the owner
doesn't seem to care
- Nobody ever comes around yet they always seem
to want more money
- I don't have a lease, so I can leave any time I
want
- My lawyer said the owner is trying to rip me off
From the landlord:
- The tenant moved in and never signed a lease
- The tenant moved out and he never paid the last
month's rent
- I have a month-to-month agreement, yet the
bank won't recognize it as a lease
- When the tenant moved out, he took everything,
including the light fixtures!
- Can you tell me what the market rent is?
- I have a lease in place. It's only one
page long but I think it covers everything
- This space has been vacant for two
years. What's wrong?
- I bought this complex to be my retirement
income. Now I'm told that I have
to spend up to $200,000
to keep
it up. Is this reasonable? Shouldn't
the tenants have helped?
When you hire a professional property management company,
you are actually hiring a team of professionals --
property management, leasing, accounting, administration
and day-to-day operations. This team will handle your
investment with the long-term view of maintaining the
property and increasing its value. In most cases, the
cost of hiring a professional to manage your investment
is the cost of the triple net operations. In plain
terms, this means the tenant generally pays for the
services of the property manager.
Consider what it could cost you not to hire a professional!
This information about buying and selling real estate in Victoria British Columbia is
provided by the Victoria Real Estate Board for the information and benefit of consumers.
