Royal York Property Management: A One-Stop Shop for Navigating the Current Housing Market
As we approach 2024, the field of property management continues to rapidly evolve beyond the traditional focus on managing landlord and tenant relationships. Today's property managers are required to integrate cutting-edge technology and redefine how they service their clients. That includes offering a broader range of services and making data-driven decisions. Property management companies must now become adept data analysts, legal experts, and, crucially, skilled people managers.
At the forefront of this evolving industry is Nathan Levinson and his team at Royal York Property Management. Known for their agility and visionary foresight, they have earned recognition as trailblazers.
Nathan highlights that the evolving trends and regulations in the industry have brought new challenges to the forefront. Notably, the fluctuating landscape of tenant leads has transformed tenant placement into a nuanced and complex task. In today's market, where the volume and quality of leads vary significantly, finding the ideal tenant for each property has become an even more difficult endeavor.
Nathan notes a concerning trend: a downturn in tenant leads across the industry. However, this has presented an opportunity for the innovative and tech-driven team at Royal York Property Management. Their unique combination of expertise and technological prowess has led to an increase in leads.
Despite the general decrease in tenant leads in the industry, Royal York Property Management has experienced an increase, thanks to their comprehensive approach to tenant placement and property management. Their success in this area is a testament to the effectiveness of their strategies and the robustness of their systems.
At the core of their tenant placement strategy is their extensive database, compiled with data on over 22,000 properties and detailed contacts for more than half a million pre-qualified tenants, landlords, and maintenance technicians. This vast pool of information is crucial, enabling them to match tenants with properties efficiently and effectively. “Our belief in the transformative power of information sets us apart in the real estate sector,” says Nathan.
Royal York Property Management utilizes a sophisticated Enterprise Resource Planning (ERP) system, which includes an AI-powered match-making system. This system sorts through various criteria, such as property details and specific requirements set by tenants or landlords, to streamline the renting process. The AI component ensures a more precise and quicker match, aligning tenant needs with the best-suited properties.
Their data is strong because they need to match tenants with properties based on the number of bedrooms and bathrooms. They have the ability to understand data from both a suitability and qualification perspective. This enables them to match tenants with properties more efficiently, saving time for both landlords and tenants. A tenant will not apply for, nor will they be offered, a property that they do not qualify for or would not be interested in, based on their requirements in the system. These qualifications are considered in the screening process performed when a tenant is entered into their database.
“At Royal York Property Management, we do more than just show a tenant a property; we specialize in finding them their home. Thanks to our proprietary process, we can place a tenant within a property in an impressively short 7-10 days. Our tenant placement program, which leverages A.I. and our extensive database, makes finding qualified tenants easier and more reliable,” explained Mebby Mengele, the Global Director of Operations at Royal York Property Management.
Furthermore, Royal York Property Management offers a unique tenant screening service. This rigorous process allows them to underwrite a rental guarantee for tenants confidently. Their bespoke software conducts thorough background checks, ensuring that only the most suitable and reliable tenants are selected for their clients’ properties.
Beyond tenant placement, Nathan underscores the importance of high-quality property maintenance. Maintained properties retain and often increase in value, particularly vital during economic uncertainty. The company's in-house team of licensed technicians provides immediate and comprehensive support, maintaining strict control over the quality of their work.
"Regular assessments of properties help us promptly identify and address any potential issues, ensuring the properties are well-maintained," Nathan adds.
Looking ahead into 2024, Nathan and his team are equipped to face any challenges with a commitment to dedication, precision, and confidence.
By harnessing data-driven strategies for tenant placement and maintaining high standards of quality and affordability, Royal York Property Management has established itself as a beacon of excellence and resilience in the property management industry.
