MR. Condo

DIRECT: 647.205.6874   |   AMIT@MRCONDO.com
TORONTO'S AWARD WINNING REAL ESTATE SERVICE
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Property Management

As a smart real estate investor your goal should be to get rich and acquire wealth over time. This can be achieved when real estate fundamentals are well respected in their true sense. Buying the right type of properties at the right prices, in the right neighbourhoods and rented to the right tenants are important aspects of real estate.

Cash flow is the key to real estate investing. An investor can expect different returns even from the same property based on property management services that he or she opts to choose.

How do landlords manage properties in general?

Most landlords or real estate investors manage their own properties. When leasing a typical property, a real estate agent's job ends after finding the right tenant. Once the tenants move in, the landlord and tenant take care of day to day issues between themselves.

This helps landlords save costs on hiring a professional management company, and helps increase their cash flow.

Full Service Property Management Companies

Many landlords choose full service professional management companies who charge anywhere from 8% to 10% of the gross rent in today's market. Non-resident landlords pay another $300-$500 in annual fee to file non-resident taxes, with Revenue Canada. Property management companies also charge a fee to inspect properties every time a tenant moves in or out. Property management companies also undertake or coordinate repairs, regular maintenance service etc. Sometimes, property management companies charge from 8% to 10% of gross repair cost, as a surcharge or fee to oversee property improvement works. There are fees involved for visiting vacant properties. Then there are paralegal fees and other costs in some cases which require representation at the Rental Tribunal for non-payment of rent etc. These costs could be anywhere between $650 to a $1,000, or more.

A full service property management can erode an investor's cash flow

With Amit's real estate experience in buying, selling and renting investment properties, Amit feels that a full-time property management company can erode an investor's cash flow. Landlords who undertake their own property management might agree that managing properties can sometimes become a daunting experience. There are so many things to consider and take care of. For a smart investor, hiring a full-time property management company may not always make sense.

A unique program for ONLY Amit's real estate investors in The Greator Toronto Area

In order to add value to your real estate investing, Amit offers a la carte program designed and introduced to give you peace of mind, sense of investing, boost your confidence, help you acquire more real estate and get wealthy.

A la Carte Program that will save you more when comparing a regular property management service.

  • No monthly fees:
    Amit's landlord investors will pay no monthly property management fee like one pays to a conventional property management company. A one-time set up fee of $450 per property is charged to Amit's investor clients ( this fee is per client, and not per property, i.e..; if you own multiple properties, you would pay only $450 one time set up fee ).
  • Hassle Free Tenant Service:
    Once the lease has been signed your tenant will be in touch with Amit and not you. You will have free time to pursue other things.
  • Free Tenant Renewal and Rent Increase Reminders:
    Amit will also send tenant lease renewal reminders, rent increase reminders, as per prevailing landlord tenant rules, at no cost to you. Collect rent cheques on your behalf, also at no charge.
  • Pay per use inspections on your behalf:
    Any tenanted property should be inspected once in 3-4 months to ensure that it is in good state of repairs. You will decide the number of "Preventive Maintenance Inspections" that you would like to have. For condo townhouses and freehold properties, it is highly recommended to enroll for heating and cooling maintenance service contracts to ensure regular maintenance, service checks and repairs of air conditioning and heating units. Pay per use fees start from $150 per inspection and go up to $300 per inspection by a licensed home inspector.
  • Repair, maintenance and 24 hr. emergency:
    All minor issues and 24 hr. emergency repair service etc. will be taken care of by qualified handymen/ service technicians. These people will bill you directly. For all major works, you will be referred to approved contractors.
  • Paralegal Services:
    Should there be a default in rent payment, Amit's office will send the first rent default reminder to the tenant at no cost to you. Subsequently, Amit will hand over your case to competent Paralegal companies who will take over the responsibility of professionally handling landlord tenant issues. This fee is of course landlord's responsibility and payable directly to Paralegal companies.

Amit's a la carte services are a way to help you with not just investing, but hassle-free investing!

Any questions? Please feel free to contact Amit with any questions or clarifications you may have.

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