Category: Property Management

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Property Management

10 Questions Every Property Investor Should Ask

property management companies

Choosing the right property manager in Montreal is one of the most important decisions you’ll make as a real estate investor. A great manager protects your investment, preserves building value, reduces vacancy, completes repairs on time, and handles the day-to-day tasks that most investors simply don’t have time for. The right partner supports long-term wealth, while the wrong one can quietly drain your returns.

Montreal is a unique rental market. Older building stock, multi-lingual tenants, neighbourhood-specific rental demand, strict regulations, and changing rental patterns mean you need a manager who understands the city, not just property management in general. Before hiring a team, you need to know exactly what they bring to the table.

Here are the 10 essential questions smart investors ask before hiring property managers in Montreal, along with helpful insights to make the right decision.

1. How Long Have You Been Managing Properties in Montreal?

Experience in Montreal specifically matters.
A manager who has been working here for years understands neighbourhood-level trends, seasonal rental demand, tenant expectations, and the quirks of older Montreal buildings.

For example:
An experienced manager knows that a duplex in Rosemont rents differently from a unit in Downtown. They understand how heating systems in older triplexes behave in winter, what problems usually arise in pre-war buildings, and how quickly units turn over in different parts of the city.

This local knowledge leads to better decision-making and fewer surprises.

2. What Types of Properties Do You Specialize In?

Every building type comes with its own challenges.
A company specializing in residential property management might focus on tenant relations, while managers handling multi-residential buildings or mixed-use properties deal with more complex logistics.

Choosing a firm already familiar with your property type means:

  • Better rent-setting strategies
  • Faster leasing
  • More accurate maintenance planning
  • A better understanding of tenant behavior

If they manage buildings similar to yours, they already know what works and what doesn’t.

3. How Do You Screen Tenants?

A property is only as strong as the people living in it.
Strong tenant screening is the first line of defense against missed rent, unpaid invoices, or conflict.

A reliable property management Montreal team should check:

  • Proof of income
  • Credit history
  • Employment stability
  • Previous landlord references
  • Personality and communication
  • Fit for your building

Good screening reduces turnover, avoids unpaid rent, and helps create a stable rental environment where both owners and tenants feel secure.

4. How Do You Handle Maintenance and Emergency Repairs?

Maintenance is a major part of the management of properties in Montreal, especially given the age of many buildings. You need a manager who not only reacts quickly but also plans.

A well-structured company will:

  • Perform routine preventive inspections
  • Maintain an updated list of trusted contractors
  • Provide clear estimates and timelines
  • Communicate with tenants professionally
  • Handle emergency issues 24/7

5. What Is Your Fee Structure and Exactly What’s Included?

Not all property management companies in Montreal include the same services in their monthly fee.
Some charge extra for inspections, lease renewals, or arranging repairs.

Ask for a detailed breakdown:

  • Monthly management cost
  • Leasing or tenant placement fees
  • Maintenance coordination fees
  • Eviction processing
  • Accounting and reporting
  • Emergency services

A transparent fee structure helps you calculate true cash flow and ensures you never get hit with unexpected charges.

6. How Do You Manage Rent Collection and Financial Reporting?

Money handling must be professional and consistent.

A strong property manager uses modern systems to:

  • Collect rent on time
  • Send automatic reminders
  • Track payment history
  • Maintain financial records
  • Provide monthly owner statements
  • Handle deposits and receipts

Reliable financial reporting gives you real visibility into how your property is performing and simplifies tax season significantly.

7. How Often Do You Inspect the Property?

Properties deteriorate quickly if they’re only inspected when something breaks.
Consistent inspection schedules allow managers to identify minor issues before they escalate into expensive repairs.

Good property management includes:

  • Move-in inspections
    Seasonal inspections
  • Preventive maintenance checkups
  • Move-out evaluations

This ensures your property stays in top shape and the tenant’s responsibilities are clearly documented.

8. What’s Your Approach to Rent Adjustments and Tenant Retention?

Montreal’s rental regulations, combined with market pressure, require managers to strike a balance between legal rent increases and tenant satisfaction.

A smart property manager will:

  • Study neighbourhood-level market rent
  • Apply increases within legal guidelines
  • Keep communication open and professional
  • Offer incentives that encourage long-term tenants

Keeping good tenants is more profitable than constant turnover. A manager who understands this will build stronger, more stable revenue for your property.

9. How Do You Handle Emergencies or After-Hours Situations?

Emergencies can cost you thousands if mishandled.
From burst pipes to heating failures in January, you need a management company with a reliable, 24/7 emergency response system.

They should have:

  • Clear communication channels
  • Fast contractor dispatch
  • Strong problem-solving procedures
  • Documentation for every emergency

A manager who responds immediately protects your property and prevents tenant frustration.

10. Can You Provide References From Current Clients?

There is no better test than talking to other owners.
You’ll learn whether the manager is transparent, responsive, and dependable if they create more problems than they solve.

Look for consistency in client feedback:

  • Are tenants satisfied?
  • Are repairs handled efficiently?
  • Are financial reports accurate?
  • Is communication easy and professional?

Good property managers are proud of their client relationships and willing to share references.

Why Asking These Questions Leads to Better Investment Outcomes

Real estate investors who choose wisely enjoy smoother operations, fewer surprises, and more consistent revenue. The right property manager is like a long-term partner; they protect your building, help it grow in value, and shield you from the stress of daily operations.A strong real estate management Montreal team gives you peace of mind and allows you to scale your investments with confidence.

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Property Management

Moving in Quebec: Rights, Responsibilities, and Best Practices for Landlords

Moving in Quebec

Navigating the moving process in Quebec can be complex for landlords, given Quebec’s complex legal framework and varied rental scenarios.

Understanding your rights and obligations, planning ahead, and using effective property management techniques will ensure a smoother experience for everyone involved. This guide highlights what Quebec landlords need to know, including tenant notice requirements, landlord moving rights, practical management strategies, and available moving services.

Understanding the Legal Landscape

Navigating landlord-tenant relationships in Quebec requires a clear understanding of the unique legal framework governing rental properties. For landlords, recognising both their rights and obligations is essential to ensuring smooth moves, lease transitions, and property management. Staying informed about these legal requirements not only minimises disputes but also helps landlords maintain positive, transparent relationships with tenants. Before making decisions about managing moves or property transitions, it’s crucial to grasp the legal landscape that shapes the rental experience across Quebec, including how landlords should manage tenant moves under local regulations.

Key Regulations Affecting Moves

Quebec’s rental laws prioritize tenant protection and transparency. Landlords must adhere to specific regulations regarding notice periods, repossession motives, and move-in/move-out inspections.

  • Tenant Moving Notice: In Quebec, tenants are typically required to provide written notice if they intend to move at the end of their lease. For a one-year lease, this tenant moving notice must be given no less than three to six months before lease expiry, while shorter or indeterminate leases require one to two months’ notice. Verbal notice isn’t sufficient—proper written documentation is mandatory.
  • Landlord Moving Rights: Landlords have the right to repossess a unit for personal or immediate family use, but must give written notice (six months before lease end for annual leases) and clearly identify the person who will move in. If the tenant refuses, the landlord must apply to the Tribunal administratif du logement (TAL), which may set conditions such as requiring the landlord to cover the tenant’s moving expenses.

Best Practices for Landlords

1. Effective Property Management

Efficient real estate property management begins with clarity and predictability. Proactive communication, consistent documentation, and transparent handling of lease terminations or renewals are essential for both risk mitigation and tenant satisfaction.

2. Leveraging Local Expertise

For those overseeing properties in the metropolis, real estate management in Montreal providers offer localized experience tailored to urban buildings and multi-unit rentals. Their familiarity with the city’s rental trends, neighbourhood dynamics, and language requirements can simplify transitions, especially during the high-volume summer moving season.

3. Managing Property Acquisition and Move-Ins

If you’re considering a new property acquisition in Quebec, Doing thorough due diligence is essential before finalizing a property purchase.

 This includes confirming clear property titles, checking for encumbrances, and understanding the obligations to potential or existing tenants. New landlords should clarify any outstanding lease terms and agree with outgoing owners on responsibilities for move-in/out condition and key handover.

Coordinating Tenant Moves

4. Organizing and Overseeing Move-Outs

Property management in Montreal companies can provide invaluable support by managing move-out inspections, documenting unit condition, and handling deposit returns. They can also coordinate any required repairs or cleaning before move-out, reducing the risk of disputes and ensuring a smooth transition for new tenants or the landlord if they plan to move in themselves.

5. Streamlining with Moving Services

Partnering with moving services in Quebec companies benefits both landlords and tenants. Reputable providers offer packing, transportation, and flexible schedules to accommodate the province’s busy July 1 moving day. These services are especially valuable for landlords arranging for units to be emptied, cleaned, or transferred between occupants within tight windows.

Rights and Responsibilities at a Glance

AspectLandlord ResponsibilityTenant Responsibility
NoticeGive notice for repossession or significant changesProvide advanced moving notice per lease terms
Delivery of the UnitEnsure the unit is in proper, clean condition on move-in dayVacate on or before lease end, and remove all belongings
InspectionsDocument condition pre- and post-moveParticipate in inspection, note issues
AccessCoordinate access for repairs and viewingsAllow reasonable access with notice
ServicesMay recommend or arrange moving/logistics supportChoose a moving service and schedule it appropriately

Optimizing Property Management Across Quebec

Landlords across the province can benefit from comprehensive property management services in Quebec. These firms handle everything from marketing vacancies and vetting tenants to overseeing repairs, legal compliance, and tenant transitions—helping maintain a seamless operation whether you manage a single duplex or a varied portfolio.

Conclusion

Quebec’s detailed landlord-tenant laws and unique rental culture demand that landlords approach every move and lease turnover with care, communication, and professionalism. By working with experienced management professionals, respecting legal requirements for tenant notices and landlord rights, and making use of dedicated moving services for landlords in Quebec, you’ll be well-equipped for success, whether you’re acquiring a new rental property or simply navigating another busy moving season. These services help streamline the moving process, reduce stress, and ensure compliance, making transitions smoother for both landlords and tenants alike.

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Property Management

6 Reasons That Can Lower The Value Of Your House Property

real estate property management

The real estate market is always volatile. You never know when it will go on an upswing or when it will go down. But that is what makes the market more interesting. Sometimes uncertainties compel people to make some impulsive decisions, which may help you get a buyer for your property even when the market is at its peak, and the prices are high.

Similarly, there is also a chance that the market will remain low for a prolonged period, which will lead to a reduction in your property’s value.

Here we are to make you aware of different reasons which can cause this reduction.

1. Interest rates

Many people buy houses using borrowed funds. So, the interest rates on those loans affect the purchasing power of the people to a great extent. 

With a sudden rapid increase in the interest rates, the payments of interest on the funds have also increased. This has badly hit the real estate market, as people are not much willing to buy any property.

2. Inflation rates

To overcome the situation of inflation, the central bank often raises interest rates. And as we all know that a whole circle of inflation stays for quite a long time, so due to the high price, people may refrain from purchasing any property.

However, some homeowners consider this as a long-term inflation hedge.

3. Suppression of demands

As the interest rates are high for a long time, many house hunters were suppressing their demands, including the new immigrants looking for housing.

However, if the market conditions improve and their income level rises, all these pent-up demands will come out even if they remain high.

Many parts of Canada, including Vancouver and Toronto, have already seen strong housing demands amidst the ever-rising pricing situation.

4. Construction rates

This factor can affect your house’s value in two ways. 

Either, the rise in demands for housing, as it seems the market will experience shortly, will adversely affect the value of your property if the construction companies can keep up with the rising demands. Hence, if the supply becomes higher than the demands, naturally, your pre-owned property’s price will fall.

It may also happen that with the fear of the rising prices, the construction companies can minimize their construction rates. Then you will have a great scope to demand high pricing for your property when all the pent-up demands for housing will burst out, and there will not be enough supply in the market.

5. Deteriorating economic health

If the economy shows a downward curve, then many potential house buyers will back down.

If the situation comes that short term interest rates are more profitable than long term interest rates, many investors will refrain from investing in real estate.

Currently, as Canada’s economy is going through inflation, the government has taken up the policy of high rates of interest to reduce the impact of inflation.

However, when the economy recovers, with better jobs and higher levels of income, people will be able to handle the housing costs, and hence the demand will rise.

6. Local differences

Besides all the factors affecting the nation’s economy, housing prices, to some extent, depending on the regional factors. The prices of the houses vary from place to place. So, whether the property’s value will fall or not depends on the demand and supply of housing in that particular area.

Conclusion

These are some of the factors you may check, which can either take the value of your property up or down. Though you may not have much to do regarding the same, however knowledge for somethings can also be bliss.

MTL GROUP is a property management and financing company, operating in the Greater Montreal area in Quebec. Our professionals are just a phone call away to assist you with your property management and financing needs.

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Property Management

When Should You Hire A Property Management Company?

Pexels Christina Morillo

Hiring a professional property management company in Greater Montreal has several advantages, as it increases the value of your property investment. The investment in a property management company is crucial for those who decide it based on an individual’s requirement as a business owner and investor. 

Here are some major benefits of hiring a property management company in Greater Montreal:

Tenants Requirement

There are a lot of situations or an event in which your tenant requires your presence. Such a situation can be Emergencies, resolving the Disputes among tenants or neighbours, organizing parties by your tenant at night, which might disturb the neighbours. In this case, not all the property owners will be available or can come on an instance basis to resolve these concerns. In this scenario, a property management company is required.

Wherever you are staying

It matters a lot if you are staying near your rental apartment as it plays a significant role in your decision to hire a property management company. As if you are residing nearby, it is easy for you to visit your property, upgrade, handle tenant needs, and then get back to your home. But for those staying far away from their rental property, then a property management company is required to look after all the concerns related to your unit.

Managing struggle

It has been seen that some property owners become excited about the process of managing their property. Still, if you are having difficulty balancing your time or meeting the property’s demands, you need to seek help before it leads to more problems. Dealing with stress is a concern for any landlord’s day-to-day property management in Canada.

Focus on your goals

Lastly, think about your short and long term goals or desires you have. If you plan to own one property forever, then managing it yourself can be quite difficult if you stay far away from that place. Also, if you want to increase your profit margin by doubling the amount of time and attention you put into your properties, then for that, also, the property management team is required. 

Conclusion

Overall, even owing to a single property may be beneficial for you to invest in a management company in the Greater Montreal area. Since you won’t be able to handle all the issues all alone, so it may be beneficial for you to invest in the best property management company.

MTL GROUP is a property management and financing company, operating in the Greater Montreal area in Quebec. Our professionals are just a phone call away to assist you with your property management and financing needs.

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Property Management

4 Reasons Why You Need A Trustful Property Management Company

Pexels Jessica Bryant

Suppose you stay in Greater Montreal and look for a professional management company looking after your property. How do you find the best property management company in Greater Montreal? 

Generally, there are several reasons for hiring a trustworthy property management company in Greater Montreal, which will add significant value to your investment. So before proceeding further, let us look at the significant four aspects of hiring a reliable property management company, which will benefit you.

1. The shorter period in finding a Tenant

It is observed that many property management companies in Greater Montreal have a fundamental criterion for finding a tenant; they are genuine. For filling up the vacant position, a trustful property management company has written hundreds of ads and understands what to demonstrate and where to advertise. They tend to get a larger pool of candidates within a shorter period. Besides this, they are quite familiar with the sales and how to close them. Ascertaining the best price requires knowledge about the local market and access to rental rate tools to rely on. Property management companies do this the best way.

2. Spending less amount on the maintenance

Keeping good maintenance and repairing from time-to-time helps you keep your tenants happy and maintain your asset’s value. So, hiring a property management firm will surely help you have the hold on both their in-house maintenance staff and their bonded contractors. They have already been evaluated for reasonable pricing and quality work. 

3. Selection of faithful and reliable tenant

Tenant screening is the most crucial part of many landlords. Apart from this, it is impossible to get a bad tenant out of your home once they are in, but it’s a real hassle if this matter is also looked after by your property management company. So, the majority of the property management team conducts a screening test before hiring a tenant on the factors listed below:

  1. Pay the rent on time
  2. Create less damage to the unit
  3. Agree to the rent norms
  4. Cause fewer problems

Trustworthy Management Company goes through thousands of applications and is well aware of quickly digging the real facts about candidates and analyzing them. 

4. Benefits for the Property owners

You have to face less stress, such as avoid dealing with the middle of the night emergencies, chasing for the rent, and evicting people who wreck your property, etc. Once you have found a good management company in Greater Montreal, then it hardly matters if you live in the same state or not. Additionally, you have more time to spend with your family, friends, and relatives doing things you enjoy. You can live your life the way you want, can easily travel without always being available in the event whenever your tenants require you.

Conclusion

Overall, these things can be expected if a property management company is proficient and trustworthy. A poor choice of a property management company can produce many headaches of its own.

MTL GROUP is a property management and financing company, operating in the Greater Montreal area in Quebec. Our professionals are just a phone call away to assist you with your property management and financing needs.

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Property Management

What are the Major Reasons for Hiring A Trusted Property Manager?

Property Management Canada
Estate agent shaking hands with customer after contract signature

Trusting a property management company gives access to everything related to your property, the tenant’s information, prospect, the rental process, and a lot more. You are also looking to maximize the profit by investing smartly and taking enough care of the property to increase its value. It is of utmost importance to invest your money and time in a professional and trustworthy property manager. 

They can guide you well with taking enough care of your property, helping you with rentals, and the list goes on. You are already stressed and have no idea how to go about handling daily rental operations. Sliding to a lesser-known company can be wrongful because of the less experience they have in this specific field.

Money making with Property Manager

Many people fear hiring a property manager believing that they are costly and couldn’t be useful. However, the reality is far different, and you make a lot of money with them in the long run. They hold the capacity to increase the property rate by proper maintenance. Make good relations with the tenant to stay longer, pay on time, and ensure less damage and timely repair.

Fair Communication

The most important aspect of a landlord and a property manager is consistent communication and transparency. If something isn’t right, they will be there to put their efforts and input into solving your problem. They keep you informed about everything that is relatively important for you to know and take enough care to protect your property from harm. They will be honest, open up, and transparent on all matters if any need arises. In other words, with a trusted professional, you will have the ability to be informed about your property, rents, tenants, market opportunities, and so on.

Better Screening Better Tenant

A trustful property manager wants good for you, so they invest more time in screening tenant that suits your property well. The screening takes time because it involves researching the tenants, their background, and a lot more. Knowing if they have a bad history or experience earlier and then deciding which tenant is ideal from the pool of applicants that have landed to rent your property. An established property management company will check everyone on the waiting list and make the right decision for you.

They Know the Laws

How much of the laws are you aware of being a landlord? One of the biggest challenge strikes during your experience as a property owner is the laws relating to real estate. It can be intimidating and complex to learn the laws to handle your property and tenant relations well. Here comes in picture the need for hiring a property manager who will fully understand your situation, they will implement applicable laws relating to state and federals. They know when and how the rules need to follow up, and this will save your time, money and keep you within the boundary of the law.

Lesser Headache

A trusted property manager will take care of your burdens as their own. They have a full-time job making sure payments are collected on time, new property documents are prepared for new tenants, finding out the vendor, and dealing with a stubborn tenant. It may take a lot of time to handle the stress related to it. Still, a property manager makes sure the shoulder’s responsibility is to deal with your stress and obliterate it by taking everything in charge. A good property management company will allow you to take care of your health and not sacrifice your time. They will take time and handle the property mess with full experience.

Choosing a property manager is undeniably the best way to make sure your property is fit and healthy with good tenants and maintenance. Don’t let the law tricks you and make you a complete fool because of your wrong decision. Let the property management company handle your work and be in charge of all the happenings. They know how to deal with the crisis, increase the value of your property, and make sure you make the right decision all the time. 

MTL GROUP is a property management and financing company, operating in the Greater Montreal area in Quebec. Our professionals are just a phone call away to assist you with your property management and financing needs.

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Property Management

Why Customer Service is the Key to a Successful Property Management?

Pexels Gustavo Fring

With a property management professional working with you, it’s important to realize that they are the first exposure to potential tenants. Plus, with them, all the property related issues, questions, concerns raised by a tenant can be solved in no time. 

They are the middlemen and serve to be a crucial factor between a landlord and a tenant. There are ample things to be taken responsibility for, from managing your rental property, from tenant screening, lease creation to maintenance, rent collection, and the list goes on. However, the central part of all is the importance of customer service.

With every customer comes a varied set of personalities, and the real challenge is how things should be handled? If not handled with care, it can turn into a major conflict source, which is probably the last thing you would want to face.

Customers have Higher Expectations

More than 50% of the property owners move to a different property manager if the customer services come out to be poor. And more than 70% of the property owners are willing to spend more money on the property manager with exceptional service. 

That’s pretty complex to impress every unique client but the challenge is worth it. 

Pleasing customers is never comfortable. When it comes to the company’s lifeline, a property manager must put all the effort and dedication into serving customers with every need, be it small or big.

First Impression Matters

If a property management company makes a poor impression on their first day of interaction with a prospective client, chances are the client will never come back. Nobody wishes to risk buying, selling or renting property decisions to someone they are unsure of. 

This is an outcome of your first impression, and you have to avoid all the chaos or unwanted behaviour that can ruin your company’s image. A single negative review holds a high weightage to that of the ten positive reviews on you.

Resolve Complaints

A great relationship doesn’t happen in a day. It takes time, skill, and energy to build strong business relationships. Successful property managers use their soft skills like communication, empathy to handle a tricky situation. If you use positive language during your communication, you are making a strong position in the clients’ minds. 

Respond to complaints, and making sure you are proactive in all possible situations is equally essential. Being courteous, responsive are the two strongest pillars to customer satisfaction, and it shows that you genuinely care.

Be Transparent

You want to build strong relations with the owner, focus on maintaining transparency. Give personalized treatment, communicate, and help them to what they need for you. If you think you are unsure of something, speak out and not hesitate to share the bad news. 

Keep them updated and informed. Your honesty is what they expect from you, so don’t overthink. A suitable successful relationship with clients starts with being loyal and transparent, so don’t overlook that. Stay in touch and keep your client updated with the smallest and most important details of a property.

Be there during their concerns.

Tenants pretty much want to be heard, especially when they are facing problems. Being a property manager, the relationship should be maintained with both the owner and the tenants, and you have to look through their concerns and be attentive. 

A good property manager ensures all the concerns are heard, valid, and a matter solution is also considered. Listen to what they want from you and what they need more than empathy. They want a solution, so show your problem-solving skills.

Quality customer service is the key to successful property management. Customers are the king, and without which no business can run effectively or efficiently. Pleasing customers and providing them top-notch performance should be the first-ever motive of any property manager. Be honest, transparent, and problem solver, don’t be only sympathetic towards their problem but give them a valuable solution too. 

MTL GROUP is a property management and financing company, operating in the Greater Montreal area in Quebec. Our professionals are just a phone call away to assist you with your property management and financing needs.

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Property Management

Here is Why Property Managers can be of a Great Help

Property Manager Montreal
businessman and buildings

While privately handling your property may initially seem like saving your money. It is essential to understand the pros and cons of it before making the judgment ahead. Without the right management, your property will simply sit in the market for too long and bring no good leads. 

You need the right knowledge and peace of mind to bring the highest possible result without any headache, risk, or challenge. Having a property manager by your side adds to cost, but, it also appreciates the property value effectively and generate more revenue to make it a win-win situation.

Reliable Tenants

A professional property manager will give you excellent guidance and land you with a reliable tenant. These professionals will do their research and thoroughly screen the tenants before approving it for your property. A good tenant is the one that pays on time and looks at your property; they stay longer, so you don’t have enough burden or searching for new ones. 

Rent Collection & Deposit

Securely receiving payments from the client can be challenging. It is awkward to ask rents repeatedly from them even though the money is yours, and you deserve it. Good property management companies ensure they do the collection and deposit work all by themselves. This way, even the tenants will be punctual and understand on-time payment importance. Collecting payment on time is crucial, and this is one thing you should be worry-free. 

Laws are Complex

Real estate laws are very complex. How much do you know about these laws, and how well are you going to implement it? One most significant benefits of a property manager is the ability to avoid legal hassle. They can do systematic screening without discrimination; they will handle the payments. Plus, if the eviction becomes a necessity, they know how to handle a situation like that. The paperwork with legal jargon can be understood well by them, and you’ll be informed too. 

Marketing Rightly

Through the apt and extensive experience that Property Managers possess, they have sufficient knowledge of advertising your property in the market. They know how to craft a compelling advertisement such that it lures people and creates attention. They have the skills and the network to market your property and show it to the right people in need. This way, you do not have to stress about your property being vacant for too long. 

Vendor Relations

The best part of having a professional property manager by your side is, they know how to maintain a vendor relationship. This can be a crucial part as they are in good talking terms with suppliers, workers, and other vendors. Not only your property manager maintains good relations with them, but they will also work to get you the best price. They will see if your property requires any maintenance work and thus help you accordingly.  

Property managers are crucial to hiring, and if you want valuable results on your investments, there is no way better than the help they provide you. They are available for you when you need them and give you sound advice, so you act accordingly. 

MTL GROUP is a property management and financing company, operating in the Greater Montreal area in Quebec. Our professionals are just a phone call away to assist you with your property management and financing needs.

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Property Management

5 Signs You Need to Change Your Property Manager

Property Manager Montreal

If you own a property, you are aware of the significant importance such investments hold. It involves two main things from you, one is time, and the other is money. As an income source, it is very remunerative, but only if it is in safe hands. You may have interviewed many property managers and figured out hardly a few qualified for the position. A good property manager has the trick to save thousands of your bucks. 

Here are a few of the signs that show you’re dealing with bad property managers- 

1. Communication Barrier

If your manager hardly attends your call or isn’t available whenever you need them. Ask yourself, are they of great help to you or not? If you are facing challenges to communicate and contact your property manager, it is time you switch to a new one. They should be professional and attentive and must respond within 24 hours. Unanswered calls or delay in communication is the sign you shouldn’t ignore. 

2. Delayed Reporting

Professional property managers are punctual and give importance to strict deadlines for work and any sort of reporting. They must contact your tenants and be present, so you don’t have to face any unforeseen circumstances. They are meant to ease your work and not forget important dates for providing you with monthly reports. 

3. Unable to Qualify Tenant

A bad tenant is riskier than a late tenant, believe it or not. They can soil your property because damage might trouble legally, or even disturb the neighbour. This is probably the last thing you’d want from them. Your property manager handles the tenant qualifying process. And if they are not doing their work correctly, they are of no use to you. A bad property manager only wants to fill the vacant space without researching tenants. 

4. Vacant Duration is Longer

If your property is displayed and on the market for a very long time, about some weeks. It is high time to change your property manager as they are not doing enough to fill it fast. If your property is vacant for more than it is supposed to be, what benefit are you getting from the asset? Professional property managers regularly check the market and make contacts to fill the vacant properties. 

5. Maintenance Charges Are Rising

If property rentals are cared for appropriately, maintenance issues are handled subjectively. The property manager ensures regular reviews are done on the rental space and how much maintenance is required. They also understand if the issue lasts longer, the problem will be uncontrollable later and much costly. If an issue arises, It needs to be fixed quickly with reasonable charges. But if your maintenance charges keep rising, it’s an alarm.

The time to take a step is as soon as you notice these signs. As the longer you wait, the worst the outcomes can be. 

MTL GROUP is a property management and financing company, operating in the Greater Montreal area in Quebec. Our professionals are just a phone call away to assist you with your property management and financing needs.

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Property Management Rental Property

10 Important Tips for New Landlords – Rental Property management

Rental Landlord Canada

10 Important Tips for New Landlords – Rental Property management

When you step into the shoes of a landlord the first time, it seems like a lot of work with unforeseen challenges. Marketing your property, meeting with potential tenants, screening tenants, preparing all the paperwork, and rent collection, etc. are overwhelming tasks, no doubt, but with the right knowledge and guidance, you can do it with ease.

We have some tips for first-time landlords to help them manage the rental property –

  1. Run your rental property as a business – It doesn’t matter if renting your property is your primary source of income or secondary, always treat it as a business because it is, in fact, a business and a good source of income.
  2. Look for tenants online with proper screening – List your property on the good property listing websites. You can even consider promoting rental property in Facebook groups. Keep in mind that you will need to filter the applications and do proper screening to select high-value tenants for further meetings.
  3. Research the market to set the right rent price –  Have a better understanding of the real estate market in the area. Research on rent pricing with similar property and set competitive yet confident pricing that you can sell to your tenants.
  4. Do a background check –  To keep bad tenants out, do a proper background check of potential tenants before renting them. A background check should involve credit history, work history, living history, family history,  and so on.
  5. Prepare a comprehensive rental agreement –  Before renting your property, have a well written rental agreement in place. This agreement should have all the terms, conditions, rules, and regulations in accordance with local laws to avoid any legal problems later.
  6. Enforce rental property rules properly –  Make sure that your tenants follow all the property rules so that they don’t disturb other tenants and damage the property. Let your tenants know the strict consequences if they violate the property law or local laws.
  7. Collect the rent online – Collecting rent online will save you time, energy, and hassle of visiting property every time you want to collect rent from different tenants. Either give them the option to deposit directly in your bank or set up an account with any payment service to give your tenants multiple payment options.
  8. Maintain digital records –  This is very important and will help you in many situations. Set a digital bookkeeping process. All records such as tenants’ information, leases, agreements, maintenance, rent collection, etc. should be digitally accessible anywhere and at any time.
  9. Focus on good tenants – Identify good tenants who are currently renting your property and try to serve them better by resolving their complaints faster and providing them with anything they need from you. You want to keep them long-term for better revenue optimization.
  10. Consider hiring a good property manager –  Renting a property is a step-by-step process that needs to be managed efficiently and effectively to meet financial expectations. Every step matters and failing at any step can cause financial and legal problems.A good property manager will save you from lots of trouble by actively taking care of everything from marketing your property to resolve any legal case quickly.

On a final note, it is not hard to manage the rental property but it needs discipline and better execution if you want it to be a good source of income. If you need any consultation regarding your real estate matters, We are waiting to hear from you. Contact us today.