Here is a detailed breakdown of what is included in our ‘Management’ service.
On-Boarding and Customer Service
•Perform a detailed inspection of each Rental Unit, including detailed documentation of the interior and exterior condition, including photos and/or videos.
•Input all information regarding the Property and any existing Tenants into the Manager’s database.
•Answer any questions the Owner may have.
•Connect the Owner to any other people, organizations, or parties who can help the Owner reach their investment goals.
Rental Unit Preparation
•Offer recommendations on repairs and cosmetic improvements that could help maximize monthly rent while providing good ROI.
•Install a lock-box for Property Management Services, if needed.
• Schedule, organize, or perform needed repairs or upgrades and settle vendor accounts.
•Have the locks re-keyed, if necessary.
•Have the Rental Unit cleaned, and optimize the interior appeal, and manicure the landscaping to increase curb appeal, if necessary.
Accounting for Property Management Services
•Maintain detailed documentation of expenses via invoices and receipts.
•Maintain all historical records (paid invoices, Tenancy Agreements, inspection reports, warranties, contracts, etc.).
•Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses.
•Provide annual reporting, structured for tax purposes as well as required tax documents.
Tenant and Property Management
•Enrollment in the “Great Tenant Guarantee” program*
•Collect rents from Tenants.
•Informing Landlords of late payments, if needed.
•Perform triannual (3 times per year) interior and exterior inspections of the Property on a pre-defined schedule to look for any repair and maintenance needs, or Tenancy Agreement compliance issues, etc.
•Inspect smoke alarms, carbon monoxide alarms, and fire extinguishers, during triannual inspections.
•Replace or change batteries of smoke alarms and carbon monoxide detectors as needed.
•Keep records of smoke alarm, carbon monoxide alarm, and fire extinguisher inspections on site and on file.
•Send or make available to the Owner the triannual reports on the condition of the Property after inspections.
•Receive and process maintenance and repair requests from Tenants and Owners.
•Evaluate who is responsible for any maintenance and repair requests, the Tenant or the Owner.
•Deny or accept and prioritize the maintenance and repair requests as needed.
•Schedule, organize or perform any needed repairs.
•Settle vendor accounts and invoices on behalf of the Owner for repairs (e.g., painting, plumbing issues), as needed.
•Schedule, organize or perform any needed maintenance duties, including creating and managing contracts with vendors.
•Settle vendor accounts and invoices on behalf of the Owner for maintenance (e.g., lawn maintenance, snow clearing), as needed.
•Emergency availability. All Tenants will receive a direct phone number to contact the Manager for the handling of Emergencies.
•Complete, deliver, and have signed, the LTB Form – N11, to the Tenant after a move-out notice has been received.
•Inspect the Rental Unit and complete a report on the Property’s condition before the Tenant vacates the Rental Unit.
•Send or make available to the Tenant and the Owner, a copy of the move-out inspection report as well as estimated repairs for damages and allocate responsibility for said repairs or damages to either the Tenant or the Owner.
•Prepare and deliver the “Welcome Package”, including community resources, guides, and a complimentary gift for all new Tenants/families.
•Send a gift and a card to each Tenant/family just prior to the Christmas holiday.
•Send a gift and a card to each school-age Occupant, “in care of” (C/O) the Tenant, just prior to the Labour Day holiday.
Managing Difficult Tenants and Complications
•Refer the Owner to a qualified Attorney or Paralegal whenever necessary.
• Coordinate with the Attorney or Paralegal to file the relevant paperwork required to initiate and complete the eviction process whenever necessary.
•Coordinate with law enforcement personnel to remove the Tenant(s) and their possessions from the Rental Unit whenever necessary.
* Great Tenant Guarantee (back)
The Manager guarantees that any Tenant selected by the Manager shall remain a Tenant for a minimum of 12 months from the commencement of the Tenancy Agreement. Therefore, if a Tenant moves out or is required to be evicted within the first 12 months of the start of the Tenancy Agreement, the Owner will not be required to pay the regular Leasing Fee to find the next Tenant.