Property Rental & Management Services
View of downtown from Woodbine Park – Toronto
Residential Property Management Inc. provides quality, personalized services to owners of quality properties. The company has been in business since 1985. It is owned and operated by Lucille and Alan Yates. We offer a customized management package. Our fees range for 8% to 12%* of the gross monthly income.
One of the strength’s of Residential Property Management Inc. is the attention afforded to absentee owners who require extensive reporting on the status of their property. You can also find out more about us on the web www.homerental.com.
Our property management service includes the following:
- We advertise the property (property owner pays the cost of ads)
- We show the property until we find a prospective tenant
- The prospective tenant fills in an application
- We do a credit check (property owner pays the cost)
- We prepare the lease which is in the owner’s name
- *We usually show and lease the property without using the MLS system however we can accommodate owners who would prefer to rent though a real estate agent. The usual cost of MLS rental cost is one month’s rent. If you choose to do that we will reduce our management fee to 5%. We will also work with the realtor to ensure that there is a proper lease in place and that the agreement is in line with the Residential Tenancies Act.
- The tenant pays the rent to Residential Property Management Inc.
- We deposit the rent in our company’s rent account
- When the check clears we deduct our fee and deposit the balance in your account (or any other arrangement you may like)
- If the check does not clear we contact the tenant, send (by mail) non-payment of rent forms etc. as necessary. Unfortunately, we cannot guarantee rent, so if the tenant stops paying, you will be out the rent. However, we will act promptly to mitigate the situation and get the tenant on track or evict the tenant in the worse case scenario.
- When there is a problem the tenant calls us and we look into it and arrange repair or whatever is necessary to fix the problem.
- We manage routine maintenance such as furnace, snow clearing etc. as required
- Each month we send the owner a statement detailing income and costs and any other details regarding the property.
- The only charge for management is the agreed upon percentage. We do not mark-up any bills associated with your property. We provide receipts for all expenses.
If you would like to know more or would like to discuss your property, call Alan Yates at (647) 951-2660 or contact us by email.
Forms for Tenants
Forms for Landlords