We take this as the first step to ascertain the correct value of the property and also conclude the achievable rent for this fixed asset based on the property type, location and the current market trends.
Setting The Rent
A rent survey is performed by our team members where at least 10 or more recently rented comparable units are located and used in conjunction with other factors to determine the maximum rent that can be charged.
This consists of creating ads, placing them online and offline, showing the unit and screening all applicants. These are essential tasks that can make or break your investment. Better advertising means shorter vacancies and better screening means tenants who stay longer and cause fewer problems. This also includes a search in our vast database to
This could also be called chasing rent. It’s not real hard to collect cheque that are sent on time each month, it’s getting tenants to pay on time and dealing with them when they are delinquent that can require significant time and effort and timely follow up.
Maintenance And Repairs
We provide preventive maintenance as an art of proactively monitoring and maintaining the condition of a property instead of waiting as long as possible before making the required repairs. We have an in house team that performs preventive repairs or maintenance (sometimes both). While the latter saves money in the short term, it also significantly
Property inspections are essential to address repair needs as well as to monitor for lease violations. In addition to annual inside inspections, exterior inspections typically take place between monthly and quarterly.
Book Keeping And Reporting
This includes tasks like tracking expenses, handling, sending and receiving invoices, creating profit and loss statements, sending out monthly reports and preparing the necessary documents for taxes. Reporting is a critical function as it is the only window investors have to ascertain performance of their investment.