New landlords, unaware of the property management industry struggled to meet and tolerate the unreasonable demands and delay in rental payments of the tenant.
Introducing the main cast of this case study: The owners of the rental property: The Property owner, his wife, and their two adorable kids. We could not ignore mentioning his family because that is what Freedom Rents is about: helping you prioritize your family and other needs by making your property our priority!
The Property and it’s Makeshift Property Managers.
Driven by their mutual love for interior designing, the couple built their very own 3-bedroom house in Durham, Grey Country, Ontario in 2016. 2 years later, the property owner received an offer for a highly paid job in Norfolk County. It was a good two hours away from their splendid home. Knowing their house inside out and having maintained it extremely well, the couple was more than ready to manage their property. Little did they know, property management was another baggage they would have to take to Norfolk County.
The job required the property owner to join at his earliest, however, there were small renovations that were incomplete. The process of finding a tenant, that would take care of their precious home was tedious. After two long weeks and no sign of an ideal tenant, the investor had to move without his dear family members! He was able to reunite only after 5 long weeks of missing them.
Tenant’s Play in the Absence of a Property Manager.
Imagine this, it’s 2 am, and -4°C on a wintry night. Phone blaring, the family woke up to a series of complaints.
“The pipes have frozen, and we’d like you to do something about it.” Needless to say, the couple was too far away to do anything about it.
A series of inconvenient late-night calls and an unreasonable amount of dollars were spent on ‘after hour’ repairs. The couple had a terrible night and a significant impact on their monthly budget and savings!
While the tenants had not seemed to be unreasonable people, apart from their slight delay in paying rent this had been their first complaint in 3 months. However, they had metaphorically punched their landlords in the face with their so-called ‘rights’.
Skip forward to four months later, the tenants now owed two months’ rent. The landlord had lost more money to, yet another trivial repair. While physically being unavailable to check on the complaints they were victim to exaggerated complaints, overpriced repairs, and poor rental management skills. A dear friend of the property owner, a loyal customer suggested a lifesaver: yes, us.
Freedom Rents, the property management company they rightfully deserved.
Stepping in we first explained our role as a property management company, how we would manage their property in a way that was beneficial for them. The late-night calls, the repairs, and maintenance of the property were our responsibility. With an experience of over 7 years in the industry of property and rental management, we were aware of how to tackle these common scenarios. Each complaint thereafter was accurately examined in person to determine the most appropriate repair and pricing structure. It was also extremely affordable in comparison to the initial rates that the tenants had sent receipts for. This was because we knew our property management game like no other. The best repair rates, the best in the service trade – we were well-experienced property managers.
The clients were also unaware of their rights and their connection to the Landlord and Tenant Board, Durham Region, which we most definitely were aware of. (Perks, perks, perks!)
Rental management though? (We heard you!)
Easy. This is where our expertise in tenant screening enters the drama. With a vast knowledge and understanding of both landlord and tenant mentality as experienced property managers, we put potential tenants to test, to see if they fit the criteria. First, to match our standards as property management specialists. Second, to match the expectation of our dearest investors.
In this case, the solution was obvious to our team of expert property managers even though the investors had definitely not screened their tenants. The tenant’s previous delays in payment were disregarded in ‘written’ evidence. For the two months’ worth of rent, that they had not paid, the tenants received a warning notice and due date. An alternative payment method of breaking and combining the rent to the following months’ rents was also provided after a positive nod from the investor. The tenants chose the alternative and duly complied with it. Talk about a quick rental management fix!
With Freedom Rents, our property management company in place of the landlords, the tenants understood property management and rental management was indeed our forte. The tenants had no chance against us but rather with us. Our end goal was to work in the best interest of both landlords and tenants.
Would all this expertise in property management and rental management come with a hefty, head-searing cost?
Freedom Rents, literally means freedom from all inconveniences that property management could bring you.
This meant our property management cost was as light as a feather on the financial position of the investor. Especially, in comparison to the previous unfortunate and exaggerated expenses that the investors of the property were subject to.
High -quality property management and rental management services? Check!
Exceptional value for money? Check!
A life-long guarantee for uninterrupted sleep? Check!
Just like that, Freedom Rents was able to secure the hearts and loyalty of yet another landlord and tenant duo!