The best residential property managers in London 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 London – or already own an investment property – here are 4 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 London 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 London
1. First Choice Property Management
First Choice Property Management is a boutique family-owned business specializing in the London (ON) area.
Properly managing your home or real estate investment is one of the most important factors in maintaining property value and securing your investment.
Our personal touch to doing business allows us to be innovative and flexible in tailoring our services to meet your custom needs.
Ali is an excellent agent! He was very professional! He helped my client get approved for her condo! He also made my client happy by helping making a few changes in the condo to accommodate my clients needs! He has responded quickly with all my questions and requests. His service was excellent!
- Address: 275 Wharncliffe Rd N #103, London, ON N6H 2C1, Canada
- Website: http://www.fcpropertymanagement.ca/
- Phone: +15198528900
2. TRIDENT PROPERTY MANAGEMENT
Trident Property Management is a full-service property management company specializing in commercial and residential properties across Ontario.
Our 25+ years of related business experience and extensive network of vendors ensure quick response times, reduced operating costs and increased overall property value.
We help you establish and grow the capital and rental income of your investment property. We can manage all of your investment property needs.
We have lived in our unit for over 2 years now and it's been an amazing experience. The attention and care for the property is great. Any issues are resolved in a very timely manner. Devon is amazing and knows how to treat all the tenants and goes above and beyond to make sure any issue is resolved quickly and she is a pleasure to deal with. I would 100% recommend them.
- Address: 1956 Mallard Rd, London, ON N6H 5M1, Canada
- Website: http://tridentmanagement.ca/
- Phone: +15192820350
3. MV Management Ltd.
MV Management LTD. is a premiere property management agency specializing in residential and commercial buildings, professionally serving London, Chatham, Windsor, and Southwestern Ontario for over 15 years.
MV Management is the Team to go for any Management services. Best Experience being very Professional. MV Management has been helping my investors client from last 3 years in London, ON. My clients had never issue with them. They are best in the Management Services game. HIGHLY RECOMMENDED!!!!
- Address: 1262 Oakcrossing Rd, London, ON N6H 0C2, Canada
- Website: http://www.mvmanagement.ca/
- Phone: +15198706879
4. BlueStone Properties
BlueStone Properties Inc. is an award-winning family owned and managed, London based, property management and development company.
For three generations, we have built and maintained quality residential and commercial properties in London, Ontario.
We are dedicated to Building Better Lives, and Better Communities, Through Better Properties.
Fantastic experience living at 520 Talbot for over 5 years. Management/maintenance was very attentive, could not ask for better property managers - Wayne and Deb always went above and beyond!
- Address: 130 Dufferin Ave, London, ON N6A 5R2, Canada
- Website: http://www.bluestoneproperties.com/
- Phone: +15194330391