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Building Your Wealth with Real Estate in Brantford, Ontario

Prices of real estate properties consistently rise over time exceeding the rate of inflation. Thus last year value of average Canadian property increased by 5.4% (CREA) and is projected to continue growing. That along with record low-interest rates should encourage everyone to consider investing in real estate. Purchasing your own house will make the first step into the real estate market. However, to ensure financial growth, subsequent steps have to be taken, specifically adding rental properties to the portfolio. Whether investing in multi-family homes or a single family house, a real estate investor gains in a number of ways, major of which are building equity, enjoying appreciation of the property and cash flow, as well as obtaining certain tax benefits.

As a quick example, with today’s interest rates, purchasing a single family house and keeping it for 5 years as a rental will potentially generate 50000 in appreciation, 25000 in equity and 10000 in cash flow. That’s 85000 on the 20000 investment, which makes 85% per year. No other investments will provide an even remotely same return. Certain minor expenses and maintenance have not however been taken into consideration, but that will not account for much of a difference.

BRANTFORD PROPERTY MANAGEMENT Inc. will in turn help to ensure smooth and profitable operation of any rental property, take full advantage of the investment and maximize potential benefits.

Why hire a Property Management Company in Ontario?

Purchase of Real Estate in Brantford has been and still is, one of the best ways to invest your hard-earned dollars. Single-family or multi-family homes make a significantly better alternative than stocks or mutual funds, let alone putting money in a bank.

However, after the decision is made, and presumably, the right property is chosen, an investor starts facing a hard dilemma, whether he/she should do own management, or hire a professional property management company in Ontario.

One of the very few advantages of doing own property management in Ontario is definitely the cost. Depending on the size of property, a number of rental units, investor may save some cash by stepping on a hard path of renting the place, dealing with maintenance and repairs, addressing issues with delinquent tenants and so on.

But let’s stop for a second and see whether it’s really worth it to spend your expensive time and take over those responsibilities, as opposed to hiring a real estate management company in Ontario.

One of the first issues that come about is renting the place. Many underestimate the amount of time needed to advertise and show an apartment before a right tenant comes by. Phone calls and emails from potential renters have to be responded to as soon as possible. Most of them happen during a regular business time. Most investors are business people and quite often want to concentrate on the main business as opposed to spending hours on an investment that is supposed to be passive.

Another issue is addressing maintenance and repairs. Most property management companies in Ontario have dedicated staff that is responsible for cutting grass, removing snow and doing small repairs. Handymen that perform those duties are usually on payroll; as a result, the cost of their work is significantly lower than that of independent contractors. Should something more involved be needed, property managers in Brantford normally have agreement with various contractors, so that the owner doesn’t have to pay full price.

Finding a proper tenant is another concern. In most instances it is very hard to distinguish between a good tenant that will stay long enough from someone who is nothing but problems, cause unnecessary stress, fails to pay the rent and ends up being evicted with outstanding balance, leaving the owner with a vandalized apartment. Property management companies in Ontario, however, have a lot of experience in dealing with various people and normally will do a much better judgment of potential renters, thus eliminating, or at least significantly reducing, the risk of costly mistake.

Last, but not least,the advantage of hiring a Real Estate management company in Brantford is knowledge of the Landlord and Tenant Act. The governing regulation in Ontario is very lenient to tenants, and it is crucial to know your rights and responsibilities, as well as those of tenants, in order to successfully run the rental business.

So in the light of what has been discussed, is it really worth it for an investor to manage the property himself (herself), make and learn from costly mistakes, or is it better to hire a professional property management company with proven track record? One mistake of inexperienced beginner may cost more than a year’s cost of a professional management company.

BRANTFORD PROPERTY MANAGEMENT Inc. has been in business since 2005. We have a proven record of successfully managed properties and a long list of satisfied clients, references from whom are readily available. We tailor our programs and services to satisfy the needs of every owner. We professionally provide a full range of services to ensure successful operation of your investment.

If you’re looking for a Real Estate management company or property manager in Brantford, Ontario, please call 1(519)755-5677 Or e-mail kyle@brantfordpropertymanagement.ca