Consider a Property Management Company for Streamlined Short Term Rentals

If you are thinking about turning your condo into an income property or are considering buying a new condominium for the specific purposes of making it an income property and an investment, making it available as a short term rental apartment could be an ideal scenario for you. But being a landlord can be a time consuming and sometimes frustrating experience. By leveraging the services of a professional property management firm that specializes in short term rentals and corporate suites instead, you could do well to make the most from your investment with a minimal amount of effort.

Corporate Suites or Short Term Rental Apartments Can Make Big Profit

Renting out a furnished unit to a single individual or family has its pluses, such as consistent regular income but it has its drawbacks, too. With a short term rental, you could charge more than a traditional long term rental --- particularly if you make the place available as a furnished high end corporate suite. Corporate clients will take good care of the unit and will pay on time versus the risk of renting to people who may bounce cheques or pay their payment late.

Property managers can help you keep the unit occupied (many successful ones have an occupancy rate of 90%+) and if you want the unit left available for you during specific time periods, that can often be arranged as well. The property manager can also manage all dealings with renters and prospective renters, meaning that you won't deal with questions, queries, and other issues. The fee spent on a property manager that is highly experienced in short term rental apartments and corporate suites will have a wide marketing reach and the expertise to help you maximize your investment and minimize your involvement. Property managers will screen potential tenants, show the unit, ensure the apartment is well maintained, collect payments for you, and will also deal with any problems that arise. You don't need to take 2:am phone calls or to deal with issues as the property manager will be your sole point of contact.

When choosing a property management company, make sure you deal with a well reputed company with a high level of professionalism and established presence in your city. Look for a company that makes it easy to business with them both as renters and as property owners so that you'll know your condo is in good hands.

About the Author

Want to maximize your ROI on your Toronto, Ontario condo? Consider the specialists in Toronto corporate suites, Skyview Suites at Torontofurnishedrentals.com. We specialize in Toronto short term rentals apartments.