When placing a property up for rent, the major concern is finding the right tenants. Renting to the wrong tenants can become a nightmare. This is a nuanced field and doing it properly requires patience, intuition, and great interpersonal skills. A property management company can take care of all the headaches associated with rental properties or income properties.
We will find a tenant that will treat your home like their own. We provide extensive tenant screening while treating each applicant like our only customer. Few companies get the tenant screening process right, which will ultimately affect how successful you are with your investment. We are investors as well and understand the emotions involved in making this major decision to entrust a tenant with one of your most valuable assets.
We also understand that vacant rental units are very costly for property owners and we strive to place quality tenants quickly and ensure they are right for you. We specialize in condominium and residential dwellings for both long-term and short-term rentals as well as un-furnished and furnished units. Time is your worst enemy when faced with a vacant unit, our expertise in setting the right approach and getting things right and cost effectively the first time around is our biggest differentiator.
We are proud of our track record and value the TRUST our clients instill in us.
Our Comprehensive Residential Property Rental Services for Landlords Include:
Set rental strategy to suit specific client needs
We assess the property to include: Property type (Condo, apartment, home, townhome, duplex…), neighbourhood, amenities among many other factors that play into assessing rental value and management needs of the property.
We also take the time to better understand your needs. You might be leaving the country for only one year and looking for a tenant for that duration only, or want a long-term tenant for your investment property that will treat your investment well.
Based on both your needs and the property’s needs, we bring the whole picture together and set a strategy to meet your goals.
Prepare the property (i.e. painting, carpet steaming, general cleaning…)
If the property you are looking to rent was your primary residency, then you most likely maintained it well and we might have minor touch-ups to make prior to renting it out. However, if it’s a rental and a tenant has been there for a while, we anticipate more work to be completed between tenants. It’s always a good idea to enhance your property and ensure it shows well between tenants. This helps attract the right tenant and maintains its value over time.
Assess fair rental value
To assess fair rental value, we don’t just rely on our experience, which is pretty much always on par with what we find after doing our research. We like to see what a person searching for a place to rent will see and position your property favorably so that it stands out amongst the crowd and rents quickly. This point in time analysis is valuable in ensuring that our recommendations are grounded in todays reality and market conditions. This means looking at what’s available on MLS in your neighbourhood, building for similar size, layout, view, amenities, parking, locker, backyard.
We usually price our properties fairly; we don’t want to be the most expensive listing and gouge tenants nor the cheapest and keep money on the table for you and us. We want to hit the sweet spot and find a balance for all parties involved.
Professional photography is one of the added values we provide clients with as we believe it helps in the overall package and presentation of your property at its best, in order to attract the perfect tenant.
We learned over the years that professional photography goes a long way, and we have adopted this best practice.
Advertise the property (i.e.: write advertisement, market property on various platforms such as MLS and other sites)
We aim to market your property to the widest possible audience. This includes featuring the property on our website, which has the highest traffic amongst our peers. We receive daily interest from inbound clients that reach out to inquire about a place to rent.
Rental properties are also posted on our social media accounts and shared among our network.
Multiple Listings Services (MLS) by far has the most exposure and we advertise your property there if this option is selected in our assessment.
We may also post signs at the actual property so that people passing by and neighbours spread the word.
Our advertisement writeups are realistic and we don’t use colorful and optimistic language to bring a prospect client and have them leave disappointed. We write what we do and what you will see us do for you, and what you should expect from a professional property management service.
We monitor and respond to emails, calls, messages to communicate with potential tenants on your behalf in a timely manner. We answer any questions the potential tenant might have and we also ask our own and conduct initial fit assessment so that we don’t waste anyone’s time and make sure the would-be tenant fits the criteria we are looking for when it comes to your property.
Arrange showings & coordinate rental application
Coordinate with rent seekers to showcase the property and answer any questions they may have. We also share requirements for rental application, including:
- Applications form
- Proof of employment
- Credit Score
- Previous Landlord references
Tenant screening and selection (i.e.: credit reports, employment verification, rental history verification & reference checks…)
By far one of the most crucial steps in the process which we finetuned over the years and have the experience, processes and systems in place to ensure perfection. Once a package is in place we have a risk committee meeting to review / approve applicant internally to ensure more check and double check all applicants. Yes, you heard that right, this what we do on your behalf.
We look at:
- Fit: If it’s a one-bedroom condo and we have 3 people looking to rent the place, it doesn’t comply with potential municipality by laws.
- Employment and income verification,
- Credit check
- Spousal and family support
Over the years we received our fair share of fake documents and references. We always run our own reports with the renter’s consent and are very thorough in our reference checks, to say the least.
Lease preparation and execution
Once a tenant has been identified we prepare the Ontario Standard Lease with some additional terms to compliment. The lease is tailored with information pertaining to each specific property including lease terms details. The lease is then signed with all tenants named on the lease.
Collect proof of tenant insurance
We require a copy of tenant liability insurance for the premises they are renting, effective lease start date, prior to handing over the keys.
Collect proof of utilities account setup under tenants’ name
We require tenant to provide proof of utilities account switched over under their names prior to handing them property keys.
Arrange key deposit collection if applicable
We arrange key deposit collection (if applicable) from tenants upon handing them property keys/fobs/garage door openers.
Handing keys / property over to tenant on move in date
We arrange key hand over with the tenant on the agreed upon move in date.
Move-in walkthrough with tenant
Move-in walkthrough is a visual walkthrough of the property which is covered in our rental services.
If you are registering for property management services as well, you will receive a report to accompany the visual inspection walkthrough.
Arrange monthly rent collection
We make it easy for tenants to pay their rent with different options payment available, such as: checks, post-dated checks, online bill payment, credit cards
Pre-delivery inspections (PDI) for new properties
For pre-construction properties, we will gladly attend the pre-delivery inspection (PDI) with the builder, should the owner ask us to.
Property owner review and approval prior to signing lease
Once we have processed a rental application package from our end, we will meet with the property owner to provide them with our recommendation and get their approval prior to signing the lease.