Rental Income Properties: How to Avoid the Paperwork Nightmare

January 20, 2020

The appeal of getting regular income from your rental income properties seems like such a simple idea at first, until you realize all the paperwork and other administrative jobs that it involves. Start with obtaining all the proper permits and licenses from municipal or provincial government agencies. Then knowing all the laws and regulations that have to be taken care of for safety, fire, accessibility and bylaw compliance makes it a formidable challenge for the first time renter. If only for the administration duties, it can make a lot of sense to take on the services of a professional Property Manager right from the start.

You may not require the physical services of a property management company such as doing the routing maintenance and repair work. However, when it comes to the administrative tasks and paperwork having the experienced staff and knowledge from working in the business for many years can save you a lot of time and frustration with the paperwork headaches.

Administrative tasks and associated paperwork that a professional Property Management Company can better handle for you:

  • Tenant search, research and interviewingLease agreement preparation and enforcement
  • Permits, registration and bylaw compliance documents
  • Rent collection, deposit and follow-up when required
  • Property and safety inspections
  • Property taxes, utility bill payments
  • Insurance coverage and payments
  • Financial accounts and reports for business and tax purposes
  • Routine maintenance scheduling and procurement
  • Professional repairs and upgrade services coordinated
  • Security and customer service support provided
  • Condominium and Institutional management services
    

Don’t let yourself get burdened with the ever growing amounts of administrative paperwork needed to support your income property. Get the right advice and professional help from the ACCL Property Management team for all your administrative needs today. Contact us for more information about rental income property management.

5 Things to Consider Before Purchasing a Rental Property

December 21, 2022
Expert Advise From Your Trusted Property Management Team

Get Your Property Rental Ready for Winter

December 7, 2022
It is important for landlords and property managers to take the required steps to ensure that their rental properties are ready for the winter months. You will want to be proactive with inspecting the plumbing, roof and landscape before the cold winter temperatures and winds set in. Doing this will guarantee that you will save money on damages that may occur if these areas are neglected.

Avoid These Property Management Blunders

May 15, 2021
If you want to earn as much as you can on your investment properties, it’s worthwhile to use the best property management team you can. If you encounter any of the mistakes below in the management of your portfolio, you may want to switch to a different management firm.

9 Maintenance Tips For Your Rental Properties

May 1, 2021
If you own rental properties in Oshawa or Durham Region, it’s crucial to maintain good relations with your tenants. One way to do this is by hiring a quality property management company to handle the upkeep. Are you looking for advice on how to maintain your rental properties in Durham? Look no further. Below are nine critical tips to protect your investment and keep your renters happy.

Tenant Screening: How Landlords Can Effectively Screen Tenants

April 15, 2021
Screening tenants is one of the most important tasks landlords are responsible for. Applications come in by the dozens for every apartment and it’s their job to sort through them, run the appropriate checks, hold interviews, and determine who will live in your properties. As a result of this constant work, most landlords have a clear sense of what red flags they need to look out for when reviewing applications, but it’s important to realize that not all problems are equal and that individuals with “red flags” on their records may not be bad tenants.

How to Build an Emergency Fund

April 1, 2021
1. Organize Your Bank Accounts

What is an Emergency Fund?

March 15, 2021
For the landlords and real estate investors, ROI and cash flow are everything. You’re constantly on the lookout for ways to make your rental properties more profitable, which means maximizing the upside and counteracting the downside so that it doesn’t come back to bite you. And even though there are no bulletproof methods of downside protection, there is one method that can significantly lessen your chances of experiencing a financial catastrophe. It’s called an emergency fund.

5 Tips for Finding a Good Contractor

March 1, 2021
Find a good contractor who gets the quality work on time is never an easy task. As you search for a contractor to work on your property, here are some tips and tactics you can leverage to filter out the bad apples and find the right fit for your project.

7 Techniques For Rent Collection

February 15, 2021
5 Techniques Successful Landlords Use For Rent Collection

4 Ways Landlords Waste Money

February 1, 2021
As a landlord, you’re in the game of generating cash on your cash. In other words, you’re in the ROI business. But are you really doing everything you can to set yourself up for maximum returns? This a question that you need to analyze through a critical lens. You might consider yourself a fairly savvy person when it comes to finances and investing. (After all, you’re wise enough to invest in an income producing property.) But it’s entirely possible that you’re bleeding money in areas where you could be doing better.