Frequently Asked Questions

Property Management is a service given to owners to take away the stress and niggles of managing their property. A Property Management team is a mediatory party between an owner and a tenant to take care of an owners’ investment and ensure all of the regulatory items are taken care of including schedule of condition reports, rental cheques, maintenance management and ensuring correct notices are given to the tenants.

The biggest benefit of having a property managed is the peace of mind it gives the owner. Landlords can relax knowing that there is an impartial third party protecting their property, deposit and tenant. Property managers will take care of and manage the often time consuming day-to-day problems that may arise.

The landlords can expect an array of services to ensure their investment property is managed to the highest standard and ease their workload and stresses:

• Collection, safe keeping and protection of the deposit.
• Tenant Screening and documentation collection.
• Full inventory on tenant check-in and check-out.
• Accompanied viewings with prospective tenants.
• A premium marketing package for your property including listing on all major property portals.
• Preparation of the tenancy agreement.
• Move in preparation including - paint, clean, pest control and A/C checking (any maintenance at additional cost).
• Connection for both landlord and tenant.
• Key handover/tenant check-in.
• Register tenancy.
• Rent collection arrangement.
• Management of failed rental payments.
• Financial reporting.
• RERA compliance.
• Tenant & maintenance management.
• Renewal of contracts including negotiation of contract changes.

Landlords who want to remove the stress and headache that can come with renting out their investment property will benefit greatly from having their property managed. Landlords may live overseas, in different time zones, may travel extensively or simply have busy work and personal lives. The majority of Allsopp & Allsopp’s property management clients have a vast property portfolio and find the property management service extremely beneficial.

Landlords are mainly contacted to give consent for maintenance works on their property. From there an agreement will be made with the property management team on the best way to move forward with contractors. A landlord will also be contacted to receive an update on their investment. Updates on the property can be given weekly, monthly or annually depending on the landlord’s preference.

The property management team conducts a check-in and check-out inspection where they will take photographs of the condition of the property. The visual inspections are very thorough and look at floor to ceiling, internal and external aspects of the property. As well as this, fixtures and fittings are checked along with appliances and overall condition of the entire property.

Landlords are required to give their tenant at least 60 days written notice to the end of the term or rent period using the Landlord and Tenant Board Form N12. Be sure
you are using the current form N12 – updated on July 28, 2020 and it can be found at https://tribunalsontario.ca/ltb/forms/#landlord-forms.

A property inventory is perhaps the most important part of the service. It is a professional report recording the condition of the property. The property inventory protects the owner against damage on their investment and ensures that should there be any dispute on the condition of the unit, there is a professional report that both parties can refer to.