- You would lease the basement apartment ASAP - (Fee for this = 1 month's rent)?
- Yes, the fee for leasing is one month rent + HST.
- You collect the rent payments from the tenants on my behalf and deposit that into my Canadian bank account?
- I would arrange for the payments to be made via direct deposit for simplicity.
- You will provide statements for this service (for my tax records)?
- Yes you will receive a statement of commission for your records and tax purposes.
- The tenant renting the top floor is responsible for maintaining the property (lawn care, snow removal etc).
- I could arrange for this service but if that is the current arrangement I can visit to ensure it is being dealt with accordingly and report back is any issues.
- They do call the current property management company for any repair issues though (the property management company then sends me a quote for the repair.)
- This can proceed in the same way. We would field any complaint calls and have the appropriate service address any issues and provide you a quote for services ahead of time. Emergency calls would require some flexibility on your part to allow us to make a judgement call in your best interest but the terms of such flexibility would be detailed in a management agreement.
- Do you offer services for repairs when they are needed? (how is that handled?)
- We have several technicians and contractors we work with and certainly can arrange for any home related repair or service. We would have them quote you first for approval of any repairs or remediations. We also work with a former insurance adjuster who is quite capable of assesing the majority of issues related to home maintenance, remediation and repair.
- What sort of credit & financial checks do you do for applicants?
- We request full employment details, full credit reports with scores, personal/business references, and we vet all details against online checks and personal contact with references.
- How do you vet your applicants and ensure the best tenants?
- We endeavour to investigate all aspects of a tenant's applications looking specifically for discrepancies or inconsistencies in any aspect. Furthermore, we can research details on previous landlords' ownership of properties to ensure accuracy in these details. Obviously, there is always a level of risk involved in any tenancy arrangement but we feel a properly vetted tenant is far less likely to cause issues and therefor will require les management, which is a win-win situation.
- What requirements do you have for applicants? (previous rental history, proof of income etc)
- We request a completed rental application including previous addresses, employment details, and personal references. In addition we request proof of income, job letters and pay stubs or receipt of benefits, and full credit reports with score.
- What sort of assistance do you provide for conduct issues & non-payment of rent?
- In these matters we will conduct the initial request for payment and file to appropriate documentation for none payment of rent and possible eviction, however should it come to a tribunal request and appearance we would forward the file to our paralegal services to address the matter, these expenses would be incurred by the landlord for these services however the initial activity would be covered by the monthly management fee.
- The management fee would be rated at 10% of the gross rental income, and we would request a reserve account of $1,000.00 (One thousand dollars) to address emergency calls. This reserve would remain in designated expense account of which we would provide you monthly statements.