We’ve all been there, constant property issues, late rent payments, and complex legal and compliance requirements. This leads to your asset feeling less like an investment and more like a full-time job – if you’re beginning to feel burned out, here are 5 signs it’s time to hire a Licensed Property Manager:

1. Your time is no longer your own
   
   Managing a property effectively involves a significant time cost, including late-night emergency calls, coordinating complex repairs, navigating the Residential Tenancy Act/Municipal laws, and ensuring a paper trail. These tasks take away from your full-time job, family time and personal life – the cost savings from self-management may take away from your own time.
   
   
2. The legal and compliance requirements of the Residential Tenancy Act are overwhelming
   
   Lots of landlords self-manage their rental properties – usually it’s not an issue with tenants who pay rent regularly and on time, but what happens when tenants begin paying rent late, or are not able to satisfy their lease obligations? As a landlord in Surrey B.C., you face several legal risks and costs in these situations, and it’s crucial that you understand the Residential Tenancy Act in B.C. as well as municipal and provincial laws – not only to protect yourself and your investment, but it is also critical to understand renter protection and non-payment laws.
   
   
3. Tenant turnover is high or vacancies are long
   
   Frequent turnover and extended vacancy periods are a sign that something fundamental is not working with your management approach or the condition of your property. Licensed Property Managers at Re/Max Performance Realty Ltd have a complex tenant screening process to ensure long-term, stable occupancy and cashflow, local market expertise that help in setting competitive rental rates, and effective marketing strategies.
   
   
4. Rent collection has become a challenge
   
   Late payments are stressful to deal with; nonpayment takes that stress into a different atmosphere. Chasing down payments, filing action against tenants, and enforcing lease terms are complex and difficult, especially if you prefer to avoid confrontation with your tenant. Licensed Property Managers at Re/Max Performance Realty Ltd have established and unbiased systems for rent collection and enforcement of judgements.
   
   
5. You are feeling burned out and it’s impacting your goals
   
   This is usually when you begin regretting ever getting an investment property – it may look bleak, but our Property Managers at Re/Max Performance Realty Ltd are here to help you. 
   
   Send us an email at admin.pm@rprdelta.com.