Question 1

What does management cost?

Accepted Answer

Management is a percentage of monthly rent, plus HST:
Single unit:                10%Two to four units:      8%Five or more:             7%
Larger portfolios, let's talk.
Tenant placement is 50% of one month's rent when we manage the property, or one full month if you'd rather we just find and screen the tenant. Only charged when someone signs. No setup fee.

Question 2

Do I pay anything while the unit is vacant?

Accepted Answer

Nothing. Our fee is a percentage of rent collected, so if no rent comes in, no fee goes out. You don't pay us to watch an empty unit.
The only cost tied to a vacancy is tenant placement, and that's charged when someone signs. If we don't fill it, you don't pay for the marketing, the showings or the screening.

Question 3

How and when do I get paid?

Accepted Answer

Rent is collected by automatic pre-authorized debit, so it doesn't depend on a tenant remembering. Your funds are deposited within seven days of the first, with a statement showing rent received, expenses and our fee, itemized.
We hold last month's rent deposits in a separate account and handle the annual interest owed to the tenant and the top-up when rent increases. Most owners don't know that obligation exists, and it tends to surface at move-out.
We keep a $300 working float for small repairs so a leaking tap doesn't wait on an email. The float is topped up from the following month's rent.

Ottawa · Toronto

Frequently asked questions

What does management cost?

Do I pay anything while the unit is vacant?

How and when do I get paid?

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