Our residential management employs quality, reliability, knowledge and a hands-on approach. We manage residential high-rise, residential low-rise, townhouse complexes and luxury homes. We offer full property/facilities management as well as administration and financial management services. Some of these services listed below:
Maintenance, Repairs, and Remodeling
- Establish a preventative maintenance policy to identify and deal with repair needs
- Provide and oversee maintenance personnel
- Provide a network of licensed, bonded and fully insured contractors who have been vetted for good pricing and good work that is up to code
- Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price
- Maintain outdoor areas
- Landscaping
- Leaf and snow removal
- Removing trash and debris
- Maintain and monitor a 24 hour emergency repair hot-line
- Larger renovation or capital projects
- Provide recommendations on how the project can maximize rental income
- Prepare preliminary cost estimates
- Get multiple independent bids for the work
- Act as general contractor overseeing the work
- for some of our past projects, please see our PROJECT management page
Financial
- Provide accounting property management services
- Make payments on behalf of owner (Mortgage, insurance, utilities, etc.)
- Detailed documentation of expenses via invoices and receipts
- Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
- Provide annual reporting, structured for tax purposes as well as required tax documents
- Advise owner on relevant tax deductions related to their investment property
- Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
Inspections
- Perform periodic inspections (inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
- Monthly owner reports on the condition of the property
Evaluate the property and determine an accurate rental rate
- Perform detailed documentation of the interior and exterior including photos
- Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI
- Gather data on rental rates in the area and work with owners to determine the optimal rental rate. Rent research will vary, but should include looking at the recently rented comparables according to size and type
- Discuss with owners the pros and cons of different policies
Marketing of the property
- Prepare apartments/units for rent
- Clean apartments/units and optimize interior appeal
- Manicure landscaping to increase curb appeal
- Create ads tailored to the property and advertising medium
- Some of the mediums commonly used are:
- Paid and free rental listing websites
- Print publications
- Signs
- Fliers
- MLS
- Work with realtors and leasing agents to find a tenant
- Provide a 24-hour hot-line where prospective tenants can listen to detailed information about the property
- Field calls from prospects for questions and viewings
- Meet prospective tenants for showings
- Provide prospective tenants with rental applications
- Collection applications with rental deposits
- Tenant Screening and Selection
- Perform a background check to verify identity, income, credit history, rental history, etc
- Grade tenant according to pre-defined tenant criteria
- Inform tenants who were turned down
Tenant Move In
- Draw up / complete leasing agreement
- Confirm move in date with tenant
- Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance
- Ensure all agreements have been properly executed
- Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in
- Collect first and last months’ rent
Tenant Move Out
- Inspect unit and fill out a report on the property’s condition when the client moves out
- Provide tenant with a copy as well as estimated damages
- Return the balance of the rent deposit to the tenant
- Clean unit and perform and needed repairs or upgrades
- Re-key the locks
- Put the property back on the market for rent
Rent collection
- Receiving rent
- Collect arrears
- Sending notices of arrears
Evictions
- Filing relevant paperwork
- Representing owner in court
- Coordinating with law enforcement to remove tenant and tenants possessions from unit
Legal
- Advise in the event of a legal dispute or litigation
- Refer owner to a qualified attorney / paralegal when necessary
- Understand and abide by the latest local, provincial and federal legislation that apply to renting and maintaining rental properties
We would greatly appreciate meeting with you to discuss how we can assist you with managing your investment property.
Please contact us for additional information regarding