facebook-square twitter-square instagram chevron-down x phone location share
Mountain Park Blog Hero
Mountain Park Blog

The Basics of Signing a Good Property Management Contract

When you hire a Calgary condo management company, you should carefully review everything in the contract, making sure that the responsibilities are fully understood by the property manager and everyone else involved.

Property Management Services and Fees

When it comes to property management in Calgary, try to get an understanding of the Calgary property management fees in advance. It is important to understand the services that the manager has agreed to perform, and you should also know how much the cost will be. Knowing what services the property management company in Calgary will perform for an additional fee will also be of help to you. Ask them if there are any services that they will not perform under any circumstances

Ownership Responsibilities vs. Property Management Services

With property management companies, you should also make it abundantly clear who has certain responsibilities and what yours will be as the landlord. This part of the contract outlines your obligations as the landlord. Before you sign the contract, you should understand what responsibilities you will have and what you will be prevented from overseeing.

Examples of such obligations include setting up and keeping a reserve fund on hand. You will need to keep the reserve fund open to the property manager to take care of maintenance issues, daily obligations and emergencies. Property management companies will make you responsible for ensuring that this never falls below the specified amount. You might also have an obligation of maintaining and obtaining the correct insurance for your property management team.

Understanding the basics of the contract ensures that you will have the best experience with property management companies. You may also have to give the management company a 30 to 90-day notice before you can terminate your contract with them. Understanding these things can help you to find the best Calgary property management company.

For all of your property management needs, contact the experts at Mountain Park Property Management – the full-service Real Estate brokerage and Calgary property management company. You can be confident in knowing that we’re on top of industry trends and changes. With our client-first mentality, we’re proud to be Canada’s most efficient property management company.