Property management in Vancouver. Management company services

By: CBSNews
VANCOUVER, British Columbia - May 8, 2023 - PRLog -- Management company services - profitable or not for the owners?

Over the past few years, citizens of Europe and the United States have shown increasing interest in Vancouver real estate.

The trend is quite logical and is due to objective factors: suburban real estate prices have fallen to attractive levels.

About 90% of clients who are looking for a profitable holiday property intend to use it for several weeks per season, and then rent it out through a management company. The tasks of the management company are to manage the lease and maintain the condition of the property. A property management contract is concluded between the management company and the owner, where all the terms of delivery are prescribed: the services of the management company, obligations, remuneration, etc.

Pros and cons of leasing real estate through a management company:

Benefits of renting through a management company:
  • Passive income that can be guaranteed.
  • Saving time, resources.
  • Property control in your absence.
  • Return of your property in the same form.
Disadvantages of renting through a management company:
  • Payment of remuneration, from 15 - 50% of the profit.
"Is it worth it, is it profitable to rent out property in Vancouver?
Answer: "If your property is liquid and corresponds to the price, location, quality, location, then this is an excellent investment and you can and should rent it out."

You can rent out both independently and using the service of the company. MasterHost will be glad to offer you the most favorable real estate management conditions!

Property management is a big responsibility. Buying an apartment / house, a villa in Vancouver to relax and rent out is possible, but important points must be taken into account.
  • Find out at what price you can rent the property. Many people are deluded by unrealistic expectations about the rental prices they can achieve in a complex. Don't just believe the stories of friends, take a closer look at real estate prices similar to those that you decide to buy on large rental sites such as booking, Airbnb and others.
  • Correctly calculate how much real estate advertising will cost. Practice shows that achieving good prices and optimal employment is impossible without serious efforts and high advertising costs.
  • Correctly assess the cost of living for tenants. Do not underestimate the cost of cleaning, changing linen. Look at the opportunity and cost of hiring a person or company to carry out this activity. Practice shows that many buyers completely ignore this cost, and in fact it is perhaps the most important for achieving a good rental income.
  • Do not forget to calculate the cost of maintaining the property.
  • The cost of consumables - electricity, water, internet. These costs can indeed be a nasty surprise.
Industry:Real Estate
Location:Vancouver - British Columbia - Canada
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