Landlord
Prime Solutions Property Management
Prime Solutions Property Management is dedicated to providing comprehensive management services for real estate investors who prefer a hands-off approach. Operating in the Kitchener-Waterloo region, including Kitchener, Cambridge, and Waterloo, we offer a wide range of services to ensure your investment is well-maintained and profitable. Our expertise includes tenant selection, accounts receivable and payable, maintenance, and capital improvement supervision.
Services we offer
Property Evaluation
- Detailed documentation and photos of the property’s interior and exterior.
- Recommendations for improvements to attract and retain renters, maximizing rental rates and profitability.
- Competitive analysis to determine optimal rental rates.
- Assessment of pets, children, and smoking policies.
- Analysis of location and property type to target ideal renters.
Advertising and Showing
- Creation of effective advertisements tailored to the property.
- Publication of ads on rental listing websites, yard signs, print publications, and collaborations with relocation agencies.
- Property showings to prospective tenants.
Tenant Screening and Selection
- Background checks (references), income verification (T4 or pay stub), and credit history checks.
- Affordability analysis based on income and expenses.
- Ranking of prospective tenants according to pre-defined criteria.
- Collection of the last month’s rent and deposit into the property owner’s account.
Tenant Move-In
- Completion of lease agreements and move-in inspections.
- Verification of utility and service transfers.
- Collection of the first month’s rent.
- Coordination of move-in processes with new and outgoing tenants.
- Enforcement of lease agreements.
Rent Collection
- Monthly rental payment collection.
- Direct deposit of rent payments into the landlord’s bank account.
- Recommendations for rent increases when necessary.
Eviction Management
- Preparation and delivery of eviction notices.
- Coordination with legal representatives or attorneys for eviction or mediation.
- Collaboration with law enforcement for tenant removal if necessary.
Legal Compliance
- Referral to qualified attorneys when needed.
- Adherence to municipal, provincial, and federal rental property management legislation.
- Enforcement of rental agreements and regulations.
Inspections
- Periodic interior and exterior inspections for repair needs, safety hazards, code violations, and lease violations.
- Reporting property condition and status to the owner.
Accounts Payable
- Coordination with the owner on accounts payable matters.
- Scanning and forwarding invoices for payment.
Financial Management
- Detailed documentation of expenses with invoices and receipts.
- Maintenance of historical records (paid invoices, leases, inspection reports, warranties, etc.).
- Annual reporting structured for tax purposes.
- Recommendations on relevant tax deductions.
Maintenance, Repairs, and Renovations
- Preventative maintenance policy to identify and rectify potential issues.
- 24/7 on-call service.
- Network of licensed, bonded, and fully insured contractors.
- Supervision of landscaping, snow removal, and other operational services.
- Capital work supervision as needed.
Tenant Move-Out
- Conducting move-out inspections.
- Negotiation with tenants to repair damages.
- Return of last month’s deposit when necessary.
- Ensuring the unit is ready for showing and re-renting.
Reporting
- Monthly activity reports to property owners.
- Interior and exterior inspection reports.
- Move-in and move-out inspection reports.
- Communication of any extraordinary events or activities on the property.
Benefits of Choosing Prime Solutions Property Management
Quality Tenants Our thorough screening process ensures reliable tenants who are accountable, stay longer, respect the property, and cause fewer issues.
Legal Protection We are knowledgeable about the latest landlord-tenant laws, reducing your risk of legal problems. We handle tenant screening, safety and property conditions, evictions, inspections, lease addendums, security deposits, and rent collection.
Shorter Vacancy Cycles We efficiently prepare and market properties for rent, collaborate with relocation specialists and real estate agents, and determine optimal rental rates.
Effective Rent Collection Rent is collected on time, and the eviction process is initiated promptly to minimize financial losses.
Lower Maintenance Costs Better tenant selection and protection of rental property lead to lower maintenance costs. Bulk service orders with contractors allow us to command lower service rates.
Increased Investment Value Quality tenants and effective management result in better financial performance and increased property value.
Choose Prime Solutions Property Management for a stress-free, profitable property management experience in the Kitchener-Waterloo region. Let us handle the details while you enjoy the benefits of your investment.