The first step in avoiding issues with your rental property in Toronto is making sure you qualify your tenants at the very beginning of the relationship with your tenant. Having done rigorous checks on your tenant and understanding the needs of your tenant will allow you to create a solid relationship with that tenant. This is key in ensuring the tenancy goes well.
Property Management in Toronto: Tenant Orientation
Orienting tenants to a property when they move in is also important. A tenant who has a good, strong sense of the property and how things work is likely to have fewer problems throughout the tenancy. You should also let them know about the property management services that are offered, and the support available to them should anything arise. This will mitigate the loss or damage that could occur, because the tenant will know that they have a reliable Toronto property manager at the other end of the phone line who can help if there are any support needs requiring attention.
Property Management in Toronto: Tenant’s Insurance
Tenants need to have tenant’s insurance when they move into your property. It should be a condition to the lease, and it should cover liability as well as any property contents, such as furniture. When your tenants are looking for insurance, they should talk to a qualified insurance broker and find out more about what’s available on that point.
Property Management in Toronto: Landlord and Tenants Board
Circumstances can always change during a tenancy. If an issue does arise, and further action is required, the property manager must know the Landlords and Tenants Board and all the avenues available to the owner to resolve any problems in a timely and cost effective manner. So, a rigorous knowledge of the Ontario Landlord and Tenants Board is key when you are choosing a Toronto property manager. You need a professional who can resolve issues with tenants as soon as possible. You want the best outcome for all involved.
If you have any questions about issues that may arise during a tenancy or anything pertaining to Toronto property management, please