AJ HAZZI – WHY WE DO WHAT WE DO?
Being landlords ourselves, we had longed for a management firm that would not only perform the core competencies of keeping units filled with quality tenants, coordinating maintenance items and basic accounting, but could also provide the kind of objective insight and consulting around the investment side as well. After all it’s not just about playing defense. Like most investors in real estate, we like to see a return and to grow our net worth and passive income. Why is it that the conversation with a property management firm never focuses on this actual goal?
Maybe it’s assumed that the property owners have it all figured out and are only looking to delegate the headaches associated with being a landlord. My career as a realtor, consulting many on real estate investments has led me to believe, there is an overwhelming need for a qualified professional advisor to help guide the decision making around these investments. People need help quantifying the return, and need objective feedback on their current properties performance, as well as honest advice around whether to continue to hold or divest themselves of properties. Obviously we cannot improve, what we do not measure.
An annual review with a dually licensed professional in both real estate sales and rental property management, and more importantly a fellow real estate investor with the same goals themselves, should be a cornerstone to any property manager/client engagement. At this review, a thorough analysis of the return on investment for each property in the portfolio is performed and a pro active game plan to improving the performance of the investment takes place.
We are a management firm for people who have chosen real estate as their vehicle to wealth and financial freedom. Managed by investors for investors you need a manager that understands your property is not just a building or a house, it is an asset, and needs to be managed as one. Managing an asset does not simply mean collecting rent and managing repairs. It means holding every dollar of equity accountable to a strong return.
In order for a manager to successfully achieve the above mentioned goals, there are three areas that they must continually be focused on.
- Tenant Management – This covers all aspects of tenant relations. It requires a person who understands how to manage and maintain tenant requests and expectations while ensuring your interests are protected and the tenants are respected. Maximizing rents and minimizing vacancy is where it all starts. Our managers know exactly how to get the absolute most revenue possible from your Kelowna investment property.
- Service Management – This requires the efficient management of work-order requests, service personnel, contractors, trades, purchase orders and active preventative maintenance. With any capital expenditure, our aim is to increase value and reduce expenses. Our network of professionals can get jobs done efficiently without you paying retail prices that could eat up your net operating income (NOI).
- Financial Management – This is not just about the collection of rent and payment of bills, proper financial management results in a reduction of expenses and solid cash-flow management. Taking the time to do a semiannual review to properly quantify your returns is something that we feel sets us apart. Financial planners send you a statement with your returns in black and white, why not your real estate portfolio manager?
A consultant’s approach – It all starts here, we see ourselves as important members of your wealth building team. Experience has shown that when managed properly, management is not an expense to the owner but rather improves the bottom line. Most of our clients have discovered that we can improve their revenue by enough to more than cover the 10% management fee and can drop their vacancy rate to nill, further improving the properties performance. If you think it’s time for a change and would like to sit down for a no obligation consultation to discuss if our services are right for you. Please give us a call today at 250.868.3151