The best residential property managers in Toronto take care of day-to-day details such as rent collection, tenant communication, and repairs so that investors can focus on the big picture.
If you’re thinking about investing in a single-family rental home in Toronto – or already own an investment property – here are4 great management companies to consider.
Why Do you Need a Property Management Company?
If you have purchased an investment property and are planning to rent it for commercial or residential purposes, you might want to consider a property manager.
If you're a first-time investor, you may not realize how time-consuming effectively managing that property is and get overwhelmed in no time at all.
Even if you're a veteran investor, you may think you have enough experience to forgo the expense and manage things on your own, only to find out you're completely in over your head.
Both of these scenarios are fairly common, and a property manager can help you with the operations of your property.
Can a property manager help me avoid bad tenants?
Typically bad tenants will target owner-managed rentals because they can't pass muster with property managers.
They know that when a property is for rent by the owner the rent will be less and there will be less scrutiny of their financial situation.
Because bad tenants can't be evicted without notice and an eviction can take months and cost you money, property managers will track references and do their utmost to avoid potential bad tenants and associated eviction problems.
How Toronto Property Management Fees Work
Property management companies generally structure their fees in two main ways, as a percentage of the rent collected or a flat monthly fee:
Percentage of Monthly Rent
Most property management companies charge a monthly fee of between 8% – and 12% of the monthly rent collected. If the rent on your home is $1,200 per month the property management fee would be $120 based on an average fee of 10%.
Fixed Property Management Fee
Some property management companies offer a fixed fee structure in lieu of collecting a fee based on the percentage of a month’s rent. Normally the fixed fee is based on the property type, square footage, and the property management services provided.
Here are the best Property Management Companies in Toronto
1. Buttonwood Property Management Inc
At Buttonwood Property Management Inc., we offer specialized property management services in Toronto to real estate investors like you.
As a family-owned business helping investors in the GTA, we have a deep understanding of the key factors required for successful property management. Our personal touch ensures that we will take care of your property as if it were our own.
Properly managing your real estate investment is one of the most important factors in maintaining property value and securing your investment over time.
We are able to help you with residential property management, residential property rental, and commercial and rental property management1. We offer buy/sell services through our sister company when it comes time for you to find your next investment property or you want to sell a tenanted property or downsize.
We purchased our first rental property (a condo unit) and signed up with Buttonwood to be our property managers. It has made being first time landlords an easy turnkey operation.They take care of everything from taking the photos, advertising, showings, screening applicants, (our condo was rented mid-month, the same month we put it on the market) dealing with the condo corporation, dealing with the tenants and resolving any repairs, inquiries etc.We just sit back and get our rent deposited every month without any hassles. I would highly recommend Buttonwood and am considering buying more rental property,
- Address: 10 Yonge St Unit 2212, Toronto, ON M5E 1R4, Canada
- Website: https://www.buttonwood.ca/
- Phone: +14168357191
2. Bridgeway Property Management
At Bridgeway, we see our clients as partners in our business. We can't succeed unless your property performs well, so we do everything in our power to make that happen.
Our size allows us to provide personalized attention and guidance; part of our service that we pride ourselves on.
Partner with us and let us help you stay profitable and grant you more free time.
We go above and beyond to get exceptional results for our clients. Our team is friendly and accessible and we pay particular attention to detail.
We aim to provide a completely hassle-free approach to property management. We deliver on our promises and value our clients.
Bridgeway Property Management is a cut above other property management companies. From my experience with Bridgeway, I see that they understand the complex, laws regulating rental accommodations and act diligently and promptly.I'd recommend Bridgeway to any landlord who's unfamiliar with landlord and tenant law, especially for first-time landlords. The value Bridgeway provides is its knowledge of landlord rights and obligations and the convenience of dealing with tenants on your behalf, for a very reasonable rate.My clients' overall experience with Bridgeway has been very positive.
- Website: http://www.bridgewaypm.com/
- Phone: +18666048807
3. Infinity Property Management
At Infinity Property Management Services Company, our mission is to help our clients by providing new solutions for managing their properties.
We make the process simple for you and we take care of it all, from the marketing services in order to find and retain good quality tenants, to providing guidance and ensuring all landlord-tenant board laws are adhered to.
No matter what it is, from the start of the lease to the end, we commit to making the process smooth and stress-free.
Infinity property management located in Toronto helped first find me an amazing tenant took care of all the details with their real estate side and then Set up monthly payments directly to my account and take care of all details professionally and quickly I can honestly say this company has made my life so much easier.
- Address: 386 Eglinton Ave W Suite 201, Toronto, ON M5N 1A2, Canada
- Website: https://infinitypropertymanagement.ca/
- Phone: +14162560888 ( ext .3)
4. Ashbridges Property Management
Ashbridges Property Management is a boutique property management firm serving clients in the GTA and across Canada. Our priority is a simple one:
to provide the absolute best property management services to our clients in order to protect their real estate investments and maximize their revenue-earning potential.
We excel at investment property management because we employ a highly-skilled team of industry professionals who know how to provide clients with five-star service.
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- Website: https://ashbridgespropertymanagement.ca
- Phone: +16478506180