Let us first provide you with an overview of how property management typically works.
Most local real estate investors choose to manage their properties personally. In this scenario, a real estate agent's involvement concludes once a tenant is secured. Subsequently, day-to-day matters are handled directly between landlords and tenants.
While this approach reduces expenses linked to hiring professional rental property management firms, it also necessitates landlords to be continuously available to address issues promptly. This can cost substantial time and energy, particularly for non-resident investors managing properties from a distance.
Numerous landlords opt for comprehensive professional rental property management companies, which charge between 8-10% of the gross rent in today's market. Non-resident landlords also incur an annual fee of $500-$750 to file non-resident taxes with Revenue Canada.
These companies additionally levy fees for property inspections during tenant turnover. Moreover, they oversee or coordinate repairs, routine maintenance, and associated services.
At times, rental property management firms impose surcharges ranging from 10-12% of gross repair costs to supervise property enhancements. Fees may also apply for visiting vacant properties.
Leveraging our extensive real estate expertise, which encompasses property acquisition, sales, and rentals for individual landlords, we understand that enlisting a full-time rental property management company can at times strain an investor's financial resources. Moreover, property owners who opt for self-management of their rental properties are likely to agree that this responsibility can become overwhelming, particularly for those who are located outside the area or even abroad.
From a savvy investor's standpoint, the decision to engage a full-time property management firm may not always align with a prudent financial strategy.
In pursuit of enhancing the value of your real estate investment, Team Kalia introduced an à la carte property rental management program in 2010.
This distinctive offering is designed to provide peace of mind to our investor clients (buyers), leading to significant cost savings in rental property management, while concurrently boosting their confidence in real estate investment.
It is important to emphasize that this program is exclusively accessible through Team Kalia for investors who acquire their investment properties from us. Notably, this program's availability extends no obligations to other sales professionals at RE/MAX Real Estate Centre Inc. Brokerage.
This service facilitates direct connections between our landlords and reputable service providers (handymen, electricians, painters, plumbers, HVAC contractors, flooring specialists, kitchen contractors, etc.) at no cost.
Our clients have effectively managed their investments from as far as the Middle East, India, and Australia using our services. Furthermore, there are no charges incurred for tenant move-in and move-out inspections when utilizing our real estate buying and rental services in Mississauga and the surrounding cities.
No Ongoing Monthly Fees: Our landlord investors are exempt from paying monthly rental property management fees, a significant departure from conventional rental property management companies.
Pay-Per-Use Inspections on Your Behalf: Regular property inspections are recommended every 3-4 months to ensure proper maintenance. The frequency of Preventive Maintenance Inspections can be tailored to your preferences.
For condos and freehold properties, enrolling in heating and cooling maintenance contracts is advised to ensure the regular servicing of air conditioning and heating units. Pay-per-use fees start at $150 per inspection by a qualified handyman and extend to $400 per inspection by a licensed home inspector.
Repairs, Maintenance, and 24-Hour Emergency Services: Minor issues and emergency repairs are managed by qualified handymen and service technicians, with billing directed to you.
Tenant Renewal and Rent Increase Reminders: For a nominal fee, we can dispatch tenant lease renewal reminders and rent increase notifications in accordance with prevailing landlord-tenant regulations.
Paralegal Services: In the event of rent payment defaults, we can connect you with reputable paralegal firms.
Our reputed team has been engaged in real estate investment properties for individual investors since 2003. Don't hesitate to get in touch with us about purchasing investment properties and subsequent leasing and rental property management services.
If you have any inquiries or require additional information, feel free to contact Team Kalia.