May 29, 2018
What Does a Landlord Association Do for You?
Property management is a business, not a hobby. Whether you rent out just one or two units, or run a multi-property portfolio, you need to operate professionally if you want to maximize profitability.
One of the surest ways to do that is by joining a landlord association. As a member, you’ll have access to valuable resources that will help improve landlord-tenant relations and strengthen your bottom line.
So, what can you expect from joining a landlord association?
Local and provincial landlord association chapters often arrange monthly meetings and gatherings, or social get-togethers over dinner. These events provide opportunities to mingle with your peers and gain insights from people who have shared experiences in your field.
Education & Advice
Rental property laws frequently change. As a property owner or manager, it’s your responsibility to stay apprised of the latest laws. If – or when – you need to deal with exceptions, such as a tenant who fails to pay rent or who violates their lease, it’s essential that you protect yourself and your business by following the proper legal protocol.
Landlord associations can help you stay current so you know what steps to take and which forms to use. Their websites are a wealth of information, with blog posts or forums packed with advice, as well as the latest property rules and regulations. Landlord associations also offer support via email or phone, in case you have specific questions.
Some associations send out print magazines and e-newsletters aimed at keeping you updated about relevant changes in the rental industry. Larger landlord associations provide on-demand training in the form of podcasts, videos and other presentations covering a wide range of topics, from customer service to maintenance issues.
When it comes to proposed legislation for the Canadian rental industry, landlord associations are on the frontlines of educating legislators about the possible effects. Some larger associations have lobbied both the federal and provincial governments on issues expected to have a negative impact on property management firms and landlords – for example, taxes, housing and energy incentive issues.
In addition to providing a voice for rental property owners, landlord associations keep their members informed about proposed laws that will affect them. So you’ll be in the know when it’s time to contact government representatives and can choose to have your own say about your industry.
Landlord associations leverage their numbers for buying power, offering discounts on key property-related products and services. These invaluable connections and referrals can significantly reduce the costs of repairs, renovations and upgrades, as well as routine functions like waste management.
Professionalism by Association
All landlord associations have a code of ethics that outline how to conduct business in a way that is fair, honest and responsible. Joining an association shows that you hold your business to these standards. You’ll let potential renters know you’re serious about your business, which will help you attract higher-quality tenants and deter those who might be looking to take advantage of the system.
How We Help Landlords Just Like You
Property Vista offers a full suite of web-based, customer-centric software for landlords and property managers. Our scalable, mobile-friendly services are easy to use, helping you run your business according to best practices – and without any hassles.
Whether you’re a first-time landlord or own an established portfolio of properties, we have the solutions you need. To learn more, get started here.