With increasing vacancies, the power that was once exclusively held by landlords, has been transferred to tenants, who are now demanding lower prices and more favorable lease conditions, creating an increasingly perplexing problem for property owners.
Landlord and tenant matters have always been difficult to deal with, especially in times like these, when rent is expensive and mortgage rates have also gone up. The power once held by landlords, has now been transferred to tenants, who are now demanding low prices due to increased vacancies – such as a freshly painted unit or a “hands-on” landlord.
Royal York Property Management seems to have found the solution to this problem, by leveling the playing field for both landlords and tenants, through an intuitive approach to property management and guaranteed rental income, making landlords feel more secure in this new market. Royal York Property Management can provide an unheard-of level of support, knowledge and control over their rental properties with their customizable software. Through millions of dollars of investment, their procedures and internal software are allowing them to keep up with increased demands and a quicker timeline.
Nathan Levinson, Founder and Global Director of Royal York Property Management comments for Yahoo Finance, “It has been a very difficult time for most landlords. Property owners are concerned that the interest rates will significantly increase within the next 18 months. This will cause an inevitable drop in the real estate market, with many owners unable to make their mortgage payments.”
By offering all services in-house, Royal York Property Management oversees all aspects of the rental process — whether that’s tenant placement, providing legal counsel to advise the property owner on federal and board laws, or providing property maintenance services. This approach is more efficient, cost-effective, and offers a satisfaction guarantee. To further their commitment to satisfaction, Royal York Property Management maintains complete control over the quality of work and does not charge until the job has been completed to the owner’s approval.Royal York has built a custom software solution to provide a service that can be accessed from any device. Royal York created a unique software solution that uses a single software platform and offers the clients the best security and frictionless connection with the business, resulting in revenue growth and customer retention.
Royal York Property Management also offers property owners a rental guarantee that other long-term property management firms do not offer. Royal York Property Management guarantees the property owner a rental income, even if they experience a defaulting tenant. If the tenant wishes to break their lease, Royal York Property Management will find another tenant to fulfill a new one-year lease, guaranteeing another 12 months of rental income for the property owner. If a tenant defaults on their rent, Royal York Property Management maintains their rental income guarantee, pays for legal services to evict tenants, and replace the tenant for free.
Royal York Property Management’s software facilitates a smooth process by screening tenants and protecting landlords from the application process onward. It ensures qualified tenants are treated fairly and that their rights are protected in addition to the owners’. Additionally, Royal York has recently launched their new portal system, where landlords are now able to get consistent updates on the leasing process, as well as from a Property Management perspective, making it a whole lot easier for them to manage their financials.
In a dynamic market, there is no room for chance when it comes to Royal York Property Management. With a decade in the industry, they use every experience to improve their process to provide property owners with a solid foundation; to provide certainty in an uncertain time.
With their tenacious devotion to streamlining the property management system and efforts to continually improve their processes and software, there’s no doubt Royal York Property Management will accomplish all of their goals.