Buttonwood Property Management Inc. is a boutique family owned business specializing in the Greater Toronto Area. Properly managing your home or real estate investment is one of the most important factors in maintaining property value and securing your investment. Our personal touch to doing business allows us to be innovative and flexible in tailoring our services to meet your custom needs.
You can rest assured that we will care for your property as if it were our own…
At Buttonwood Property Management we have the Experience, Resources and Systems to help you respond quickly and cost effectively to the realities of owning and managing rental properties. We specialize in end-to-end management of residential dwellings including condominiums, townhomes, single-family homes, duplexes, triplexes, multiplex units and commercial properties in the Greater Toronto Area. It is our goal to make this as easy as possible – we take care of everything for you. Contact Buttonwood Property Management today for your free no obligations consultation we look forward to serving you.
We are at your service…Expect nothing less…
Our two most popular Residential Property Management offers:
If your property is vacant - we’ll find and place a tenant free of charge with a property management contract. Talk about value proposition it doesn’t get better than that.
2 Months Free:
If your property is already tenanted – we’ll waive our property management fees for 2 months. Great for those with tenanted properties who are done with the day-to-day hassles of managing rental properties.
We look at 12 major indicators and much more minor indicators. When a property matches at least 8 of our indicators we start looking closely and further investigating investment potential.
1. Location: Neighborhood Authority & Type (Is the neighborhood up and coming, established, speculative…)
2. Size: – For Houses; lot size, street location, direction, lot shape, parking availability and how many parking spots for a single family home…
– For Condos; unit size (older building with large two and 3 bedroom units versus newer ones that tend to be much smaller…)
3. Layout: – For Houses; Kitchen location, Stairs location… are a couple of items to consider among a list of other minor indicators we look at. – For Condos; Split bedroom layouts, ceiling height… are a couple of items to consider among a list of other minor indicators we look at.
4. View: – For Houses; Backing or facing a park, ravine, trail… – For Condos; Water view, city view, floor level, balcony/terraces,…
5. School District: Also proximity to good hospitals with the aging baby boomers.
6. Condition: Is the unit in good condition, requires remodeling and touch ups, or major renovations are required.
7. Facilities & Amenities: To include a major park for example (or) common element facilities in the case of a condominium.
8. Demographics Maturity: Type of residents and maturity of investors.
9. Safety: Safety of the neighborhood or perceived safety
10. Walk Score: Ability to run errands and live life without a car.
11. Proximity: To major highways, grocery stores, restaurants and shopping malls.
12. Proximity to the city: Needless to say the closer the better usually.
Note: The Toronto real estate market specifically that of the Greater Toronto Area continues to be a seller’s market with premium properties getting multiple offers. As a buyer we recommend you get a mortgage pre-approval so that you have few conditions in place and submit a solid offer when bidding. We work with you every step of the process to help ensure you have a solid offer and coordinate the details for a successful closing.
There are many pocket neighborhoods that we love to invest in. Below are our top picks based on area, amenities, level and type of investments. The list below covers Toronto only and rental units are in high demand in these areas:
Liberty Village & City Place: Mainly Condo investments, prices are entry level for an investor and very popular in the renting market due to its proximity and neighborhood amenities (Average price for entry level Condo: $420K)
King West: Hip area with many restaurants and entertainment. Mainly condo type investments. Popular for renters. (Average price for entry level Condo: $500K)
Yonge St. Line: (from Queens Quay to Bloor): Yonge line is the longest street. The address is so popular with major subway line. Mainly Condo investments. Price range mid level investment. (Average price for entry level Condo: $500K)
Bay St. Line: (from Queens Quay to Bloor): Popular neighborhood for being in the financial district and close to many universities and colleges. Hot rental area. Investment level middle entry. (Average price for entry level Condo: $500K)
Queens Quay: With the Queens Quay revitalization this neighborhood has seen a major boost. Many new condo buildings are being built. Water views demands premium. Investment level mid level to high level. (Average price for entry level Condo: $460K)
Yorkville: Prestigious address with boutique stores and restaurants. Investment level: mid to high level. (Average price for entry level Condo: $740K)
The Annex: Key location close to universities. Mainly house type investments with some Condos (Average price for entry level House: $1.2M)
Yonge and Sheppard & Bayview and Sheppard: One of the hottest North York addresses for rentals. Mix between Condos and houses. Investment level varies from low to medium to high (Average price for entry level House $1M – Condo $400K)
Yonge and Eglinton & Yonge and St. Claire: Popular especially for young families very close to city. Mixed investments mainly houses but lately many condos too. Investment level mid to high. (Average price for entry level House $1.3M – Condos $500K)
Leslieville & The Beaches: Popular especially for young families very close to city. Mixed investments mainly houses but lately some condos too. Investment level mid to high. (Average price for entry level House $1.2M – Condo $550K)
Danforth: Popular neighborhood for families and couples. Mainly houses with some condos. (Average price for entry level House $900K)
St. Lawrence market area & Distillery District: East of Yonge line area has seen major growth in the past few years. Mainly Condo investments with some houses (Average price for entry level House: $800K – Condo: $550K)
Little Italy: Popular neighbourhood with great restaurants. Mainly house type investment. (Average price for entry level House: $1.2M)
Roncesvalles: Great neighbourhood feel with close proximity to the City. Mainly house type investments. (Average price for entry level House: $800K)
We left out a several areas that we really like such as Cabbagetown, Corktown… It is just that there are way too many awesome neighbourhood in Toronto.
Note: Please keep in mind that many great neighbourhoods are not listed on our top ten (i.e. High Park, Junction…) this doesn’t mean the they are not great neighbourhoods but in our assessment the above list is what we opted to go with.
We have written an article about deciding between a house or condo previously and will elaborate more in this post on the topic: There are 3 main categories of residential real estate assets to invest in:
1. Condominium: Mainly Condominium Apartment units
2. Single Family Homes: Include different types i.e. Detached; Semi-detached; Link; Freehold Townhouses
3. Townhouses: Which can be a Condo, Townhouse or a Free hold Townhouse
1- Condominiums (Pros and Cons):
• Convenience (no snow shoveling or landscaping to take care of)
• Major building maintenance and emergency work is budgeted for, organised and managed by the condo corporation
• You aren’t typically hit by unexpected charges
• Availability of amenities like gyms, party spaces and pools within the building (some also offer billiard, pool tables, basketball courts, tennis courts, etc.)
• Typically located in urban neighborhoods
• Property insurance is less than a house
• Communal living feels like a small neighborhood
• Less space
• Rules about the type of renovations that can be done within the unit
• Monthly condo fees
• Some buildings have pet restrictions
• With Communal living sometimes comes some disadvantages such as you may hear your neighbors or smell food being cooked by neighbors
2- Single Family Homes: (Pros and Cons):
• It offers purchasers a lot of flexibility
• More space
• A sense of privacy
• Typically having a backyard
• Freedom to design and update the place as you wish
• More expensive to purchase and maintain (for example cost of new roof, waterproofing, or furnace replacement are high).
• All utility costs are extra (i.e. gas, water, waste management, hot water, hydro..)
• Property insurance more expensive to purchase than condos
3- Townhouses (Pros and Cons): Townhomes fall in 2 main categories either Condominium Townhouse or a Freehold Townhouse.
Condo Townhouse will have similar pros and cons to a condo apartment listed above with the main differences being:
• More freedom with internal renovations not requiring Board’s approval
• Depending on the type of Condo Townhouse sometimes the roof and window repairs are covered by the building board Freehold Townhouses are very similar to a house and thus will have the same pros and cons that a house will have.
Before we explain what services are covered by Residential Property Management services – we are going to start with who usually requires this service: If you prefer here is a video explaining property management services: We typically see two main categories of clients:
CATEGORY #1: The accidental investors: The most common situation we see is a property owner who just got a job opportunity out of town and doesn’t want to sell their property yet wants the peace of mind that their real estate asset (which was once home) is now in good hands and well taken care off.
– Professionals and Retirees
– Multi-Generational Wealthy Families
– Corporate Executives
– Business Owners and Entrepreneurs
– International real estate investors
Typically this second category of clients either already has multiple properties (or) looking to build a portfolio of real estate assets over time and want a trusted strategic advisor and partner to help with day to day management so that they can focus on what is more important to them.
Keep in mind this is assuming that the property is already tenanted. However if it is not tenanted you can check out our video on the topic: 11 Steps to Renting Your Own Investment Property in the Greater Toronto Area:
Once a property is tenanted this is when day to day property management services kicks in:
• This includes yearly or seasonal inspections and proactive maintenance
• Emergency repairs and ongoing maintenance
• Tax remittance on income generated for international investors
• Rent collection and management of monies to include condo fees, utilities or any other expenses if necessary
• Most importantly nourish the relationship with the tenants At a high level this is what is covered by residential property management services.
For vacant properties – here are the steps we follow to fill vacancies and find suitable tenants:
STEP 1: Inspect the property and make it rent ready
STEP 2: Take pictures for the advertisement
STEP 3: Assess Fair Rental Value
STEP 4: Write-up for Advertisement
STEP 5: List Property for Rent
STEP 6: Follow Up With Leads
STEP 7: Credit, Reference & Rental History Checks & Employment Verification Ensuring the right tenant for your property is a crucial step – we dedicated a video specifically for Tenant Screening: 5 Step Guide to Screening tenants
STEP 8: Prepare and Sign a Lease
STEP 9: Exchange Payments (Payment of First and Last Month’s Rent)
STEP 10: Verify Insurance Coverage
STEP 11: Complete a Move In Inspection and Hand-Over Keys At a high level this is what is covered by real estate rental services.
• If you live /own a rental property in the City of Toronto and have a basement flood, the first thing we will do on your behalf is call the City of Toronto at 311 (they are available 7 days a week 24 hours a day). If the flood is caused due to incidents covered by the City (such as a broken pipe on the City side) then we submit a claim to the City Clerk’s Office on your behalf. If the flood is a result of a cause not covered by the City (such as leaking foundation wall or a blocked drain pipe..) we arrange with our certified trades people to ensure a timely fix to minimize tenants’ disturbance.
• While this is taking place we ask the home residents not use the washrooms, showers or sinks until the City have sent in their staff to assess the source of the flood.
• We also move quickly and coordinate with a restoration company to prevent or reduce further property damage.
• We document the incident by writing a report and taking pictures. We also arrange with your insurance provider, check coverage and submit claims on your behalf.
• Copy of incident report and receipts of all work done on the property will be available on our Owners Log-in portal.
• Always remember extreme caution is recommended when cleaning up flood damages and we recommend always to hire a professional to take care of it when possible.
The City of Toronto is working hard at maintaining and improving the piping systems in the City. However often with severe weathers this may not be enough to protect homeowners and often recommended to take an additional step to reduce the risk of flood. To assist, the City of Toronto has implemented a subsidy of a maximum $3,400/property for single, double or triplex homeowners to install flood protection devices (such as, sump pump, back valve, pipe severance and capping). Important information to remember when applying for subsidies:
1. Select a contractor with a valid City of Toronto license
2. If installing a back water valve the City of Toronto will cover 80% of the invoiced cost to a maximum amount of $1,250
3. When installing a sump pump, the City of Toronto will cover 80% of invoiced work up to a maximum of $1,750
4. For foundation drain pipe severance and capping the City of Toronto will cover 80% of invoiced work up to a maximum of $400
Here is how our commitment to Transparency is evident in our day to day activities, to name few:
Accessibility to Portfolio Records: Owners can access their portfolio folder anytime 24 hours a day 7 days a week. Copies of invoices paid, management agreements, inspection reports, leases, monthly and year end statements and any documents pertaining to their real estate portfolio will be easily accessed online anytime by simply logging into their account.
Simple Fee Structure: Our fees are clearly laid out on our website – so you know upfront what your cost is and what services you will receive in return – no gimmicks and no hidden fees.
Value Proposition: Our ongoing offer to waive our portion of the tenant placement fee has been and continues to be a great success – we stand by our promise that we are in this for the long haul. This is our way of aligning our interests with you as an investor. We save you money upfront and ensure the best tenants are selected after all we are going to manage the tenant relationship on your behalf.
Excellence and the Pursuit of Continuous Improvement: Our highly qualified team understands that we are in a peoples’ business and provide customer service that is second to none. However first and foremost we hire and retain for ethical behaviour – we demand that out staff conduct themselves ethically and do the right thing all the time. Our daily dealings with clients to include real estate investors, tenants and tradespeople…is corralled around a belief that on the long-term our collective growth and leverage will make all the difference to our investments. We are focused on long-term relationship, repeat business and growth rather than an immediate quick deal and commission. We are always looking for investors that share that belief and value system and are committed to building real estate wealth over time.
1. Most Condominium Boards have rules against short term rentals such as AirBnb due to security reasons. If the Condo Board finds out your unit is being rented on short term rental sites and you are considered in violation of the Condo rules, the Board could bring forward a legal action against you and you will most probably have to cover the Board’s legal fees.
2. If a tenant rents out the unit on short term basis (such as using sites like AirBnB) they may be in violation of the Ontario Residential Tenancies Act since a tenant is not allowed to sublet a unit they are renting for an amount higher than what they are paying in rent to the Landlord. In most instances the short term daily rental rate these units go for is an amount higher than the rent paid to Landlord.
3. If a unit is rented on short term basis insurance premiums may go up. Failure to notify insurance company of short term rentals may deny you coverage when needed.
4. Make sure your lease has a crisp clause about short-term rentals and sublease.
The Ontario Fire Code requires that every place of residence:
1. You must have smoke alarms installed on every level and unit.
2. Should there be any fuel burning appliances and/or attached garages, carbon monoxide (CO) detectors must be installed adjacent to all sleeping areas.
3. The Fire Code stipulates that “no person shall intentionally disable a smoke or CO detector so as to make it inoperable”. This includes painting a detector, or any heat sensors or red pull stations. A tenant or any other person who intentionally disables or painting over a detector/pull station is guilty of a criminal offence and may be subject to a fine.
4. Landlords are to test the smoke alarms and CO detectors once a year. It is advised that tenants test alarms and detectors once a month.
Never do a quick or express screening! You have to be very thorough in your tenant screening exercise. The two most common cases of tenant fraud are:
1. Employment letter fraud: You shouldn’t accept a letter of employment from applicant at face value. Make sure to call the employer and speak to the Human Resources department to verify the employment history including salary, start date and expected continuance of employment. Try to find the company and phone number online as an extra step that you are not calling a friend of the applicant pretending to be a company.
2. Credit report fraud: Do not accept credit reports ran by the applicants. Run your own credit report through one of the credit reporting agencies. Also make sure you call past Landlords. Even though sometimes you cannot really verify you are speaking to the physical owner of the property but it is nevertheless an important step as some Landlords will be upfront about the rental history and other insights that will be helpful in your screening. For more information watch our 5 Steps Video on how to screen tenants in the Greater Toronto Area.
Peace of mind - we take away the headaches associated with day to day management of investment properties.
Vacancies are costly, tenant issues potentially even more - we find, vet and only consider the best candidates.
Positioning the property to attract the right tenant – our active strategies can help you increase your overall return on investment.
Our years of experience gave us insights into what properties to look for and what to avoid - we are happy to share along with you.
“Thank you for taking care of our real estate investments in Downtown Toronto. We are pleased with the professional services provided and very affordable fees. Highly recommend your service to any investor looking for a great management company to take care of their property.”
“Thank you Alex for taking care of everything for us – from finding us a property with high ROI, to facilitating the financing and staying ahead of all the challenges we faced as international investors in closing this deal. Impressive service thank you very much for going over and above!!!”
“Very experienced always return calls promptly and take care of everything a landlord would usually do. Has been a pleasant experience renting with them.”
“Affordable service with a focus on quality. You have to meet the staff to understand how honest and straight forward the team at Buttonwood Property Management is.”
“Buttonwood property management team is highly dedicated, knowledgeable and trust worthy. You made the whole process stress free and smooth. Highly recommend your service with no hesitation.”
“You have done an excellent job in renting my property quickly and filtered tenants to retain only the best. Thank you for doing a great job in such a short period of time. You allowed me to leave the country assured that my property will be well taken care of. ”
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or call us (416) 835-7191
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