Your investment properties are critical assets in your financial portfolio. You don’t want to put the management of these valuable assets in the hands of a company that can’t maximize their income potential. A property management company that’s costing you money is a red flag. For that reason, there may come a time you need to make a switch. Here are some reasons why you might want to start the search for new property management companies. 

Inconsistent Occupany Rates

A good tenant is one that lives in a rental property paying rent on time for a long period. To see a steady stream of tenants leaving a property means there’s something wrong. It could be that the property management company is not doing a thorough enough job vetting tenants; the right questions should reveal where a tenant is in for a short-term rental or to establish some deep roots. Tenants leaving on a regular basis could also signal problems with the way the building is managed. That’s the first sign you need to think about choices for new property management companies Toronto. Tenants leaving or asking to break leases could start costing you money as space sits idle or you have to sink more money into advertising occupancy. The best case scenario is a building full of happy, long term renters, and that means finding ones that are respectful, reliable and helping ensure the asset is maximizing rental revenues. 

Bad Customer Service

Answering machines are the bane of modern existence when conducting business; everyone’s experienced the frustration of trying to get answers while trapped in voice-mail hell. Property management companies that prioritize customer service will quickly acknowledge calls, voice mails or emails. A good property manager will also be available for face-to-face conversations at times convenient for tenants. Property management companies Toronto reflect the reputation of the owner. Providing professional, courteous and timely service to tenants is a sig of a good landlord and great property management companies.  

Poorly Maintained Property

Securing maximum rental values means taking care of the property and maintaining its worth. That means conducting proper preventative maintenance and quickly servicing small problems before they grow into costly repairs. Contracting proper service people to get jobs done right is a critical responsibility of a property management company. Not only does it keep current tenants happy, it also makes your building a target for other tenants who may want to live there. 

Trust Ashbridges Property Management

There are a lot of valid reasons to switch property management companies, from hidden and unexpected fees to getting bad advice on which properties to buy. When you’re looking to switch your property management company, think Ashbridges Property Management. Our team of professionals can handle all aspects of your property management and help make the transition to a new company seamless. Visit Ashbridges Property Management.