Rental Management Company recommendations ?

chiller

chiller

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Hi All, posted this on RFD but thought I would include my moto peeps as well...

I am currently living in a condo with my wife & kid. I also bought a house (new build) that is due to be completed by January / February 2014. Does anyone have any rental management company recommendations ? I want to be able to read and compare there costs and services. I want to investigate keeping the condo I have and renting it out. I basically don't want to do anything as far as the rental is concerned, LOL... I just want to be able to sign a contract with a company, they find a tenant and deal with any of the b.s. from the tenant and I just get monthly checks from them to pay the mortgage.

The condo is up in Woodbridge if that makes ANY difference... anyone looking to rent or buy ?

Thanks.
 
I've talked with people that used to use management companies for rental properties. Their experience was great in the past (< 10% fee). Lately fees have been creeping up (30% now) so they sold the rental properties. Losing 30% off the top made it not worthwhile and they couldn't be bothered to manage it themselves.
 
Honestly, just put up a competitive price and find yourself some good tenants.

I have been renting, and I must say I am a A+++++ tenant. I even do my own repairs and just send the landlord the bill for the parts (fixing the toilet, etc.) I clean up, mop, repair holes and paint before I leave a rental place.
 
bboySushi said:
Honestly, just put up a competitive price and find yourself some good tenants.

I have been renting, and I must say I am a A+++++ tenant. I even do my own repairs and just send the landlord the bill for the parts (fixing the toilet, etc.) I clean up, mop, repair holes and paint before I leave a rental place.
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You are in the minority as a tenant. Most do not do that.

Management fees should be about one months rent for 12 months of service. You are still responsible for any parts and labour on top of that, like a plumber if there is a leak for example.
 
Paul1000RR said:
You sure its a good idea to keep 2 properties that are mortgaged these days?
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I haven't decided either way yet ... I am investigating the costs / benefit to doing it



GreyGhost said:
I've talked with people that used to use management companies for rental properties. Their experience was great in the past (< 10% fee). Lately fees have been creeping up (30% now) so they sold the rental properties. Losing 30% off the top made it not worthwhile and they couldn't be bothered to manage it themselves.
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Do you have a website or a company source for this ?

bboySushi said:
Honestly, just put up a competitive price and find yourself some good tenants.

I have been renting, and I must say I am a A+++++ tenant. I even do my own repairs and just send the landlord the bill for the parts (fixing the toilet, etc.) I clean up, mop, repair holes and paint before I leave a rental place.
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OK ... want to rent ? lol
 
Maybe a gtam clubhouse?

animal-house.jpg
 
No experience with this other than I was a tenant renting. We dealt with a regular real estate broker (we found the rental on mls). We gave 1 cheq written to him and 11 written to the owner. We only dealt with the broker if we had any issues.

Do your tenant a favor though, cash the cheqs on the first (or first Friday after). It was such a pain when when they would wait 3 weeks to cash one cheq and then cash the next on time. :(

One of my co-workers (who dealt with his landlord directly) just email transferred funds on the 1st of the month.
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