Property Managers Must Add Value and Not Cost

I would say 80-90% of the calls that I get on #propertymanagement start with this question; "What is the cost?"  

This is a straight forward answer from my point of view but the ramifications for your property could be significant.  I won't get into cost discussions here but I will talk to you about the difference in cost and adding value.  We at #GMPProperties take pride in the approach we have with our clients rentals.  We focus on what we would do to increase our clients return, property value and over all quality of renters.  I have a whole marketing plan that will tell you all about that in detail, but I wanted to take you through a project we are doing on behalf of one of our clients.

The unfortunate part of rental ownership is that your tenant is not always that open with communication.  This can mean that some deficiencies with the property can go unchecked because the tenant either doesn't want to bother with it or just doesn't care.  We see this time and time again, small issues that could be handled very simply turn into large issues that in the end cause our clients money.  We try to stay on top of these issues by doing regular inspections of your property to identity deficiencies and open lines of communication.  This information is then brought back to our clients so that they can make decisions based on what is right for them as owners and for the property as an investment.

Currently we have a client that has a property that was experiencing water issues in the basement.  Our team identified the issue upon an inspection and after further investigation found that the weeping tile system was not functioning.  This was causing water to stay against the foundation and eventually penetrate the property.  Our owner saw that this was going to generate long term issues with the property, so working as partners in this business relationship, we put a plan together to unclog the weeping tiles and waterproof the foundation.

This was a situation that could have been catastrophic for the property, but it was identified and repaired at a minimal cost to the client.

This is just one way we at #GMPProperties mange our clients properties in #Haltonpropertymanagement, #Peelpropertymanagement and #Hamiltonpropertymanagement.

Mike Penny

Managing Partner

GMP Properties