Why a property manager is worth their weight in gold

If you’re reading this, you’re probably aware that dealing with tenants directly as a landlord can be time-consuming and stressful.  It’s why most investors consider working with a property management company in the first place.

However, not everyone sees the value, choosing to self-manage their properties instead, sometimes on top of a full-time job and running a household!

Many of our current clients started like this, until something went horribly wrong with a tenant or two, and the value of an intermediary became clear.

The reality is that a direct personal connection between a landlord and a tenant can make it very challenging to deal with issues when they arise.  This is usually because a business relationship has unintentionally morphed into something more casual and familiar. 

Property managers make sure the relationship with tenants remains purely about business, acting as an important professional buffer between them and the property owner. 

They make it their job to get ahead of issues and are highly skilled at dispute resolution.  They're good at it because they know the law inside and out and see the same issues arise repeatedly.
Most importantly, they're good at it because they’re not you.

By this I mean they don’t own the house the tenants call home.  It’s an important distinction and means they’re much better placed to keep their emotions in check and find the right balance between being firm and being kind.   

Yes, knowing how to draft a watertight tenancy agreement helps, but the real gold is at a human level.

It takes the form of touchpoints, year-round, that build trust but don’t get personal. From a friendly reminder about rubbish collection to setting clear expectations about the penalties for late rent payments and following through. It can also look like communicating a reasonable rent increase without fear of personal attack or having hard conversations about damage and noise head on and not being worried about looking like the bad guy.

It’s not easy to put a value on this work, but it pays to remember hiring a property manager also makes solid financial sense.   

At Lodge Rentals, we manage 4050 properties in Hamilton.The tenants we place pose less risk from the outset, largely because of the screening tools we use on application.  

We also play a big role in holding tenants to a high standard, to safeguard the integrity of a property.  From regular inspections and year-round communication, we maintain the value of your property, giving you peace of mind and freeing you up for other pursuits.