Why do I need a Property Manager?

Often friends and family ask why people would need a property manager if owners can do the management themselves especially for properties with not many units? My answer is usually a succinct “because it makes perfect sense”. Even in cases when property owners area able and willing to manage their own investment properties, it is financially and logistically wise to hire a competent property manager.

Investing in real estate, apart from one’s home, is a tremendous investment opportunity for several compelling financial reasons. Real estate historically is an investment vehicle that remains always relevant, valuable and important. The simple adage “everyone needs to live somewhere” is most certainly true. A property in a good location and in good condition is always a good investment that can provide rich income for years and capital gain potential. Furthermore, from a tax perspective, an investment property brings many advantages that must be leveraged and taken advantage of.

Canadians often complain that our neighbors south of the border receive many tax advantages such as the ability to write off property taxes and interest expenses on mortgages which present huge financial advantages. Despite most people’s misconceptions, these advantages certainly do exist for Canadian properties provided that the property is indeed an investment property and not one’s personal residence. One can write-off mortgage interest expenses, property taxes, repair and maintenance costs and of course property management costs.

For the large scope and amount of work that a property manager performs, it makes perfect sense to employ them. One must contemplate how much their comfort is worth. They must think what value does someone who manages potential headache (repair calls at any hour) bring? What value does a manager who oversees projects, tenant showings, rental board proceedings bring? The answer is “a lot of value”. Factor in the reduced stress and improved quality of life that a property manager presents and it is quickly clear that not having a property manager would be a severe hindrance to the investment and the owner’s quality of life.

When one factors in the added advantage and ability to deduct the expense from the propertie’s income at year-end, the decision to employ a manager is a no-brainer!

For all your property management needs, contact www.kaurpropertymanagement.com .

Characteristics of a Good Property Manager

Our Services

Many years ago, my parents relocated from Montreal to Toronto due to my father’s work which was with the Federal government. At that time my parents owned two buildings - - both triplexes. Due to several factors such as the then weak real estate market, their uncertainty whether Toronto would prove to be a good home as well as other factors made them decide not to sell the properties.

After several months of trying to manage the buildings from Toronto (600 km away) they saw that the great challenges of doing so proved much too large to overcome. They had no network of friends or family willing to help nor were they willing to ask for this magnitude of favor from them. Professional property managers that they contacted either wanted to charge exorbitant rates or simply flat-out refused managing anything smaller than 10 unit buildings. There was indeed a tremendous market need immediately identified by my father.

As Kaur Property Management was launched in Montreal, Quebec, its goal was to meet the needs of property owners that had relatively small investment buildings to be managed honestly, professionally and with little effort for the owners, who likely were out of town. It was said that Kaur Property Management would be like those trusted friends or families that did not exist or that were not asked to help manage the buildings.

Today, we manage several properties big and small for owners that live in Montreal or away. Our owners understand that they have made the right choice in selecting our services. We are a small company and choose to remain small to continue to manage the needs of our customers with quality and care. No task, no job, no matter the complexity is too big for us to manage.

Our full service package ensures that owners have a reliable resource to entirely manage every aspect of the property from rent collection, repairs and renovations, finding new tenants to end-of-year tax slip preparation and renewal management. This is what we desperately needed so many years ago. This is now who we are.