Managing your rental
What a residential property manager in Ontario handles day to day, what stays with you as the landlord, and what a management fee usually covers.
By the Tenant.ca teamUpdated 3 min read
A residential property manager looks after a rented home on the owner's behalf: the tenant's questions, the rent, repairs, notices and records. The owner stays the landlord, approves the decisions that cost money and keeps every document. The manager's job is to keep the tenancy running and bring the owner clear decisions instead of loose ends.
Most residential management agreements cover the following. Confirm each one in your written scope before you sign.
Leasing, meaning the asking rent, advertising, showings, screening and the lease, is often priced separately from ongoing management. At Tenant.ca, tenant placement is one month's rent plus HST and can be used with or without management. The team books an assessment at the property first, and you choose the tenant.
Under a management agreement you remain the landlord, and the decisions that change your costs or your tenancy stay with you: approving repairs, setting the asking rent, choosing a tenant, any rent increase within Ontario's rules, and whether to go to the Landlord and Tenant Board. Property taxes, insurance, the mortgage and any condo fees remain yours as well.
At Tenant.ca, every repair estimate comes to you for approval before work starts; an emergency that cannot wait is dealt with first and reported to you.
Managers charge in a few common ways: a flat monthly amount per unit, a percentage of the rent, or a minimum combined with a percentage. Separate charges may apply for finding a tenant, lease renewals, inspections, setting up the account or a markup on contractor invoices. Ask for every charge in writing and compare the total for a year.
Tenant.ca's management fee starts at $98 a month plus HST for a condo or apartment and $148 a month plus HST for a house; multi-unit properties are quoted for the property. Rent is paid out to you after the fee and HST, with a payout statement each time.
A good arrangement shows up in what you can see: rent recorded every month, repairs with estimates, dates and invoices, and answers when you ask. Agree at the start how quickly you and the tenant will hear back and what you receive each month, then hold the manager to it.
