Should ICC Property Management manage your Properties in Toronto?

Property can broadly be classified into three categories; vacant land, residential property and commercial property. Managing each of these properties may vary slightly as they each have distinct characteristics of their own. Nonetheless, managing property as a whole is an endeavor that will require meticulous planning and commitment. Carelessness and laxity when managing your own property may turn a good investment into a bad one.

Managing Your own Properties

Managing a rental property, for example, would entail repair and maintenance before renting, deciding on the rent price, selecting tenants, collecting rent, maintaining the house and keep track of your expenses to make sure you are not making a loss. This whole process is not as easy as it would appear as underneath all that work you will also have to check on your houses routinely, handle evicting tenants, charge late fees, deal with property charges and or even worse, face lawsuits. Is all this worth the hassle or is a property manager better suited to handling your own property?

Third Party Property Management

The answer to this question lies on whether you can handle all these tough situations while still keeping your peace of mind. As a property owner, you may lessen your burden by opting for third-party property management services, such as ICC Property Management. The difference a property manager makes is big. They cut into your profits but still save you a lot of time and headache. Additionally, property managers go above and beyond what you would normally do to make your property appeal to tenants at the same time covering you as a landlord. Some of the services they provide include professional assessment of property rental value, provide market analysis, do professional photography in high resolution, conduct showings, pre-screen all candidates, draft a lease binding the company with the tenant, do an in-depth inventory of property condition and many more.

How Much does Property Management Cost?

Property management companies in Toronto charge fees that range from 5-11% of one month’s rent. Some property management firms may charge a leasing fee that could be paid as a half or full month’s rent. A condo in Toronto will average maintenance fees of about 50 – 60 cents per square foot regardless of amenities. These costs have been on the rise in the last decade with a 3.4% bump in maintenance fees asked by property managers every year. This has not been very welcomed by the owners, boards, and residents of these buildings.

ICC Property Management has been at the forefront of reducing inefficiencies and adopting best practices to make sure that these fees remain at a minimum while still delivering exceptional services. In conclusion, managing your own property is not hard especially if it is a single property. The more the property, the more attention to detail you have to give into the management. A system to ensure everything is running smoothly will do just fine. If you value your time more or have a predisposition that can’t handle the rigidities of property management, then a real estate company will help you a lot better.

Do it yourself Plumbing and emergency repairs

Plumbing is a system that carries fluids through pipes. As it is right now, plumbing has its applications in water distribution, sewage or waste disposal, and heating. Plumbing isn’t limited to these applications but they are the most widely used.

Plumbing would not be plumbing if it weren’t for the pipes. As far as pipes go, there are several kinds that you can choose from, including PVC and stainless steel, among others.

Aside from the pipes, the tools that are exclusive to plumbing are fittings,  augurs, plungers, drain openers, sinks and faucets, valves, water filters, water softeners, and water heaters.

Plumbers are tradespeople who install, maintain and service the plumbing system. If your toilet won’t flush no matter what you do, or if your kitchen sink won’t drain, you need to call a local plumber. You have to admit beforehand that plumbers are expensive. This is mainly because they are trained for the job.

Finding the right plumbing team

No matter what state they operate from, plumbers are the same in that they adhere to the national plumbing standard, which is a set of practices that all plumbers adhere to. This standard is based on the international standard set by the global plumbing association.

If you have any problem with any part of your plumbing system, you should call a local plumber right away. You can easily find one by going to Google and typing the word “plumber” and the name of your local team

When it comes to hiring a plumber, you should only hire someone who is experienced in the system you are having a problem with. For example, if your toilet is clogged, make sure to hire the plumber that has extensive experience with the plunger.

As we said earlier, plumbers are expensive. But how expensive exactly? A job when completed could cost anywhere from $170 to $453. As for the hourly rate, they go anywhere from $45 to $150. The actual price you pay depends on different factors, including your location, the scope and complexity of the job, and the timing. Obviously, if the plumber is busy, you’ll pay a premium for immediate availability.

The actual jobs that plumbers do are broad and include replacing or installing faucets, fixing the leak taps, repairing the toilet, or cleaning the drain. But these are just some of the jobs they do.

Although you will be always be paying a high price no matter who you hire, it is possible to save money by comparing the prices of at least three plumbers, but you don’t want to stop there. You will also want to check if the plumber has liability insurance or not.

No matter what you do, you should only hire a plumber who has insurance so you are protected from exposure if something happens while the plumber is working.

When you get a quote from the different plumbers, make sure to ask for a written quote with the specifics of the job that will be done for you. This is to protect you from surprise charges.