Property Management Company

Property management in Vancouver|http://www.coronetrealtyltd.com
For investors in residential rental real estate one of the largest challenges to surmount is dealing with tenants. A wise solution to this is to use a property management company who will handle advertising the property,choosing the renters, screening them, collecting a security deposit, collecting monthly rent, conducting inspections at time of move in, handling repairs and remitting taxes and condo fee.

Generally these firms also purchase rental real estate, and can offer good advice to the buyer.

A professional firm is always a better bet than an amateur company or other non-professional individual. Licensed management companies will most of the time have better levels of service and in many areas will maintain professional errors and omissions insurance.

They will also have trust accounts, meaning that they will be receiving trust funds on your behalf and placing it into a segregated trust account that must be audited annually. The benefit of that is that a trust bank account can’t be attached by creditors of the property management firm – after all, it’s your revenue not the property management firm‘s.

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