19 Frequently asked questions to completely simplify your life as a property owner
Some questions we are often asked:
Can I choose the tenant for my investment property?
Our clients are not involved in the selection process to be legally protected from human rights issues, we do provide you with an update on the leasing process and tenants we have selected.
What do I need to do to ensure my property is ready for a tenant?
Before pictures or advertising can start you want to make sure your home is in a good state of repair and ready to be viewed. Any small or personal items should be put away.
What is your screening process for prospective tenants?
We ask all applicants to provide an application, piece of ID and some form of financial statement.
How are emergency maintenance calls handled for tenants?
Call in all emergencies to 416-642-1404 our staff will act on it right away.
As a tenant, where is my Last Months Rent (bond money) held?
We hold all deposit in a trust account with a major financial institution.
What are the upfront costs of moving into a rental property?
Costs for moving into a property are minimal, normally no more than a couple hundred dollars for deposits for utilities and a refundable key deposit.
How many properties do each property managers look after?
Our Property managers look after up to 100 properties each and we have a dedicated leasing consultant to assist them with viewings and processing applications.
How do you make sure your properties are leased quickly?
We assess every property and work with the owner to make sure the unit is as attractive as possible.
Can I apply for one of your properties online?
Yes, you can apply online any time at https://service.realpm.ca/apply-online
How do I organize to view one of your properties?
We include a link on each available property that you can see and book an available appointment.
How long will it take to lease my property?
If a property is rent ready and priced correctly homes normally rent within two weeks.
Can I view a property after hours or on the weekend?
Absolutely we have a dedicated leasing consultant and we offer appointments between 12 and 8 pm seven days a week. You can find a link to book an appointment on each property advertisement.
How long have you been in business?
Real Property Management began 32 years ago in 1986.
Do I still get paid (rent) if the property becomes vacant?
That would be nice. I know companies charges an extra 4-6% for a service like this, as we have a less than 1% eviction rate I would rather you keep all that money.
Who looks after the maintenance if my appliances stop working, should I hire someone and deduct from the rent?
Maintenance of a property is handled by our office, if you run into a problem submit a request online in your portal and always call if it is an emergency.
How long does it take for something to get a repair made?
Repairs time can vary depending on what is wrong and the severity. Most of our vendors will call you to set up an appointment, smaller or regular items maintenance items will normally have a notice of entry sent to be taken care of in the coming weeks.
Do you charge HST?
HST is charged on all services in Ontario.
When will I get my money?
Funds should appear in your bank account on the 3rd business day after the owner statement, if you did not sign up for EFT we mail you out a cheque.
Why do I need a Property Manager?
Not everyone needs a Property Manager, we do find that many small investors start out self managing properties and then hit a point when they realize that their time can be better spent on other tasks.
For all other questions, please don’t hesitate to contact us