Managing a property is no easy feat. It requires a lot of time, attention, and money to maintain your property assets and provide tenant/owner/board satisfaction. Knowing the ins and outs of management is where the professionals shine. Summa Property Management offers expert recommendations, knowledgeable insight, and valuable guidance.
“The right professional property management company will take care of your property as if it’s their own,” said Ryan Stone, President and CEO of Summa Property Management. “They’ll work closely with you to protect your investment.”
Ryan Stone has been in the property management industry since 1984. In 2005, he founded Toronto-based Summa Property Management. His company manages residential rental properties, shopping plazas, commercial buildings, and condominium corporations, specializing in boutique-sized properties. Ryan and his team pride themselves on having built long-lasting relationships with their clients and still manage properties from their first year in business.
Why hire a professional property management company?
“Property managers know property management, and that’s why it makes sense to hire experts to look after your building,” said Ryan. Property managers deal with all facets of maintenance including plumbing, electrical, structural deficiencies, repairs, upkeep, budgets, and accounting. And the fact that they are always on call when needed removes the headaches of ownership. You save time while putting their expertise to work.
Paperwork and administration can also be overwhelming and time-consuming. A property management company can take over the bulk of that work. Responsibilities include monthly accounting, managing financial statements, contract negotiations, understanding relevant acts, verifying contractor work, practicing conflict resolution, running AGMs for condominium corporations, and reviewing your condominium’s by-laws, rules, and regulations.
A professional property management company is invaluable in helping you manage your liability, your time, and your investment! No matter the size of your portfolio, Summa Property Management recognizes that property management is critical to the success of your operations.
Based on the updated Condominium Act in 2017, additional time, work, and proper licensing are needed to manage your condominium corporation, and that makes it even more imperative to rely on a professional company like Summa Property Management.
Finding the right fit
It is not enough to hire a professional property management company; you need to find the right fit for your needs. Building owners need hands-on property managers who share their goals and provide the level of service required to keep everything running smoothly. While a larger property management company may have more staff, often there is potentially more extensive employee turnover, and that means you may receive less frequent attention.
According to Ryan, “We are large enough to deal with any sized property while providing stability of management as well as personal attention to detail. Plus, we never assume smaller properties need less attention.”
The professionals at Summa Property Management get to know their clients, usually visiting properties once a week and develop long-term partnerships. “The important part of our client relationships is that we are in it together, on the same team,” says Ryan Stone. “I have my hand in all the properties we manage. I am always reachable – we do not operate on a 9 to 5, Monday to Friday schedule.”
The perfect partner should also understand that each owner of a property has unique goals and objectives, and that is the hallmark of Summa’s approach. Summa’s property managers consider your specific objectives, preparing budgets and implementing a management plan that delivers the desired outcome.
Summa is results-driven, dedicated to maintaining and enhancing the bottom line by ensuring, in the case of a rental, that your property is rented to quality tenants and managed effectively. As part of its comprehensive services, Summa can help provide peace of mind with complete building inspections.
One example is the company’s “mystery shopper” inspections for landlords of rental properties, which are implemented when vacancies are higher, or units are not renting quickly. These can verify that the site management personnel are doing their utmost to rent units and are following company policies, plus ensure proper advertising is being done and units are properly rent-ready.
Summa is ever-evolving, recently investing in cloud-based automated property management accounting software that simplifies accounting operations and streamlines the payment process. With a focus on excellence, the management staff at Summa are encouraged to grow their skills and knowledge with training, seminars, and education opportunities.
Since the Condominium Act was updated in 2017, property managers must be properly licensed to manage condominiums in Ontario. Summa’s licensed property managers and accounting staff are committed to offering top-notch service with the highest level of attention and commitment to the preservation and enhancement of your property.
At the end of the day, professional property management services offer owners valuable expertise, saving time, decreasing stress, and protecting your assets. Summa Property Management works with property owners and boards of directors, getting to know your objectives and your property, and delivering the highest level of attention, commitment, and service.
Summa guarantees an elevated client experience. Whether you have a residential, commercial or condominium corporation, Summa Property Management is the right choice!
Learn more about Summa Property Management and their services by visiting their website at www.summmapm.com.
