Property Management Companies in Toronto
The Toronto rental market is one of the most expensive in North America. That may be drawing in plenty of rental property investors to earn a good rate of return in the GTA.
As in most major Metros such as Boston, New York, Los Angeles, Chicago or Miami, managing properties in the GTA isn’t easy. There are operations, tax, staffing, logistics, contracting, and legal hurdles that can make cost effective management a challenge. At some point, Toronto rental property owners and investors will turn to a property management company to provide professional level management services.
The fee charged by Toronto property management firms is usually 5% to 12% of annual revenue. Yet the bigger challenge is finding firms with the expertise, technology, and time to devote to your properties.
As owner’s rental income rises so do costs, liabilities, and service issues. Inflation and labor shortages are additional concerns hampering operating budgets and service levels. The larger the portfolio, the more imperative it is to use the services of a company that utilizes next generation technology to automate and streamline operations.
Choosing the Right Property Management Firm
Property managers in Toronto are bound by the property management laws of the province of Ontario. Laws pertaining to rental houses, condominiums, commercial and office, and mixed use properties differ.
Property management firms managing condominiums in the FTA must comply with the Condominium Management Services Act governed by the Condominium Management Regulatory Authority of Ontario (CMRAO). Ontario now has a set of qualifications and graduated licenses for condominium management companies.
For landlords and rental housing managers, the Ontario Tenants Act governs legal responsibilities and rights of property managers in Toronto. A property management license is not required for general rental housing property management, so you’ll need to vet your property management provider yourself.
A professional property management firm will help take away the worry of meeting Ontario’s tenant guidelines. Just one more way these firms can deliver value.
Property Management Firms in Toronto
Royal York Property Management
789 Don Mills Road, Suite 801
Toronto, Ontario M3C 1T5
416 508 5288
Royal York PM offers tenant placement and screening, maintenance services include everything (cleaning, inspecting, plumbing and painting) and legal services in a variety of location across southern Ontario and the GTA region. Their tenant screening service can protect you from eviction, legal costs, lost rent, tenant replacement and expenses related to dealing with the Ontario Landlord and Tenants Board. The company manages rental houses, condos and multiunit buildings.
Dash Property Management
1170 Bay Street Unit 110
Toronto, Ontario M5S 2B4
Offering its services for 20+ years, Dash provides a one stop shop rental management solution for property owners . The firm offers renta property management, tenant screening, leasing, condo management, and sales services.
Bridgeway Property Management
70 Nina Street
Toronto, ON M5R 1Z6
Bridgeway provides a full selection of condo and rental house management services including tenant screening, unit marketing, inspection, maintenance, rent collection and financial reporting. They also provide important legal guidance and evictions services.
Highgate Property Investments Inc.
51 Jevlan Dr, unit 6A,
Woodbridge, ON L4L 8C2
High Gate is a full-service property management company focused on Toronto rental properties including renovations, maintenance, repairs and handywork, along with real estate broker transactions. They manage all inspections, maintenance, repairs and upgrades to help maximize your return on investment.
ICC Property Management
2875 14th Avenue, Suite 300,
Markham, ON, L3R 5H8
Located in Markham, ICC Property Management Services Residential & Rental Property Management in the GTA and beyond. The company was founded 30 years ago by Steven Christodoulou is a Past-President of the Association of Condominium Managers of Ontario.
ICC® custom-tailors residential and rental property management to serve condo, townhouse and rental housing clients. They offer a strategy to maximize revenue, enhance the value of the property, and provide the highest level of service for residents. Included in their property service packages are accounting, financial reporting, legal, rent collection, administration, evictions, marketing, maintenance and security.
7250 Keele street, Suite 420
Concord, ON, L4K 1ZB
416 797 6982
For 20 years, CPO Management Inc., a condominium property management company, has serviced residential and commercial condominiums, privately owned residential and commercial buildings, community and recreation centers, office buildings and industrial properties, and co-ops and co-ownership buildings.
Services include simple accounting and financial management, administration and expense management, preventive maintenance, maintenance programs and repairs, building inspection, and capital improvement projects.
Screening Your Property Management Provider
When you’re screening for property managers, ensure their software technology is modern and scalable. You may not be buying more rental properties, but their other clients may be. They may have plans to take on more owners so it’s imperative to have a management platform that’s easy to use, allows automation, and is especially proficient in accounting for rental property. If they use proprietary or legacy solutions, it will be challenging for them to keep up and adopt new services expected by modern renters in the GTA region.
Learn more about ManageCasa’s amazing property management platform now. Ask your property manager to upgrade to a better property management experience and deliver higher profitability.
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More on improving your property management: Property Management Software | Rental Property Accounting | Management Financials | How to Hire a Property Maintenance Company | Choosing Property Management Company | Do I Need a Property Manager? | Find Property Management Services Firm | Property Management Apps | Property Maintenance | Property Management Software Review