Victoria Real Estate Board

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.

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