Being a property owner can sound glamorous but the day-to-day tasks can take valuable, and even unexpected, time away from a personal schedule. But whether the goal is to build a property portfolio or simply generate additional retirement income, freedom from daily management is as close as hiring Northstar Property Management.
“We are focused on assisting the smaller property owner,” says Jason Naccarato, president of Northstar Property Management. “There were already larger established property management companies that focus on 12 or 20 or larger units or commercial properties and they do it well.”
With a motto that no client is too small, he found a niche market in Sault Ste. Marie that speaks to a growing property investment community.
Although Northstar Property Management is a newer venture, Naccarato already had a solid reputation in the property investment and management fields. Jason grew up under the property management tutelage of his family and has been managing his own properties for upwards of 25 years. He’s also the owner of Northern Advancement Capital which specializes in sustainable real estate development. His renovations of the former Sault Ste. Marie jail saw his efforts recognized with a 2020 Real Estate & Property Award by BUILD magazine. The property is now the home base for Northstar Property Management along with a half-dozen other area businesses.
The changing economy, and a passion for development initiatives, was what pivoted Jason to take a personal passion and turn it into a professional service. He currently has a staff of five people with plans for expansion. Their clients include owners of apartments, condos, houses or commercial properties.
“Property owners are growing in age and they’re now at a time where they want the income to supplement their retirement,” says Naccarato. “We’re also seeing growth in foreign investment where newcomers from Vancouver or Toronto are looking at getting into the real estate game and are looking for a place, like the Sault, that is poised for growth.”
He says that the out-of-town calls are from people who are either not familiar with the community, as a whole, or are hoping to get an impression about a specific area of town.
“We are very different than realtors who are tied to a commission. We can provide a clear expectation of what they [investors] can get and that includes all of the realities that can impact rental rates,” he says. “The timing is right and Sault Ste. Marie real estate is below market compared to many places across the province.”
Northstar Property Management can do everything from screening prospective tenants, physical maintenance, bookkeeping or, if a property owner is looking at investing capital into an existing property, how to best determine if the return is representative or not viable. Their access to trade resources also makes them the go-to people if there is a plumbing issue or a house needs painting.
Naccarato says he offers a free one-hour consultation to anyone looking to own a rental property or considering buying small commercial properties. The consultation is held virtually.
“We can sit down with you and look at your portfolio whether you’re looking at one house or 20 units,” says Naccarato. “Give us a call and we can talk about what all is involved in being a property owner and how we can help you to achieve your goals.”
Queries about how property investment may be part of your future can be directed to Northstar Property Management at 705 254-9216 or on their website at northstarpropertymanagement.ca.