Turnkey Property Management

When you work with GTA Landlord, you have the option of selecting the level of service you’d like to receive. We will either work with you to find a great tenant and let you handle the property management, or we can stay on board and manage the property for you.

These services are known as self-managed - we find the tenant, you manage the property - and Turnkey Property Management - we find the tenant and manage the property on your behalf.

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What’s included in our Turnkey Property Management service?

Service
Self-managed
Managed
Rental property assessment
Yes
Yes
Tenant procurement
Yes
Yes
Tenant screening
Yes
Yes
Lease agreement
Yes
Yes
Facilitate move in
No
Yes
Closing day package
No
Yes
Rent collection
No
Yes
Deposits
No
Yes
Unit preparation
No
Yes
Guaranteed payment
No
Yes
Tenant interaction
No
Yes
Maintenance/services
No
Yes
24/7 Service to Landlords and Tenants
No
Yes
Landlords Group Insurance Policy
No
Yes
Monthly and Yearly Rental Statements
No
Yes
Dispute resolution
No
Yes
Landlord reminders for rent increase, insurance and lease end
Yes
Yes
Rental property assessment

Our team is familiar with rental markets all over the GTA. We put our knowledge to use by helping you set rent at the perfect amount - right where you maximize income without scaring off potential tenants.

Tenant procurement

We list your property and share it with agents from our trusted network so potential renters from around the GTA are made aware of the opportunity. Our approach allows us to target legitimately interested tenants who are looking for a place at the same time you want to fill a vacancy. We also show your property to those interested and answer their questions.

Tenant screening

We handle the application process, selecting viable renters based on 12 unique criteria. Once we’ve exhausted the list, we will set times to interview the best applicants. After this task has been completed, we provide you with our recommendation. The tenant that moves into your property, however, will ultimately be your decision.

Lease agreement

We create a binding lease, customized to your specifications - e.g. duration, rent value, animal exclusion, etc. - that protects you in the event of future disputes. Because this document functions as the rental contract between you and your tenant(s), it’s important to have someone with experience create it.

Facilitate move in

We’ll be there the day a new tenant moves in to hand over the keys and go through the property with them to make sure everything is clean and functional. We’ll create a checklist for both the tenant(s) and landlord, documenting any damage or issue that exists at the time of occupancy.

Closing day package

We provide packages for the tenant and landlord, which contain important documents like the property condition checklist and lease. The documents within this package contain everything you need to know about the terms applicable to your tenant, your property and our management services.

Rent collection

We collect rent from tenants on your behalf. This saves you from having to physically visit your properties, or chasing down renters who are late on payment.

Guaranteed payment

On the 1st of every month (or whichever day your lease specifies payment is due), we deposit the full value of rent into your bank account. This means neither you nor your tenant have to go out of your way to complete the transaction. And because even reliable tenants will sometimes not pay one the first day of a new month, this service is great for generating monthly income that is predictable to the day.

Deposit collection

In addition to collecting monthly rent cheques, we also handle all deposits related to your property. This includes first and last month’s rent at the outset of tenancy, as well as deposits for lesser expenses, like keys. In the event these deposits are forfeited, we transfer the funds to your account. If a new deposit is necessary to replace an old one - e.g. for lost keys - we will collect the replacement deposit and hold it in trust.

Unit Preparation

Prior to the arrival of a new tenant, we make sure the property is ready. This involves making necessary repairs, and ensuring the place is clean and welcoming for its new residents.

Tenant interaction

We act as the point of contact when your tenant has questions. Whether they’re wondering about the lease, or having an issue with the oven, we’ll handle their calls and emails. Only in events that require your direct input will we contact you.

Maintenance and services

Turnkey gives you access to a suite of maintenance and cleaning services. Whether it’s fixing a shattered window, cleaning a carpet, repairing kitchen appliances or fixing a burst pipe, we’ll address the issue in a timely and thorough manner, so you can rest assured any problem that springs up will only be temporary.

24/7 Support

We have a staff member available 24 hours a day, seven days a week (holidays included), should there be an emergency. This allows us to provide owners and tenants with the support they need.

Landlord Insurance

We have a group insurance policy for under $100 per year per property!

Yearly and monthly rental statements

We provide you with a monthly and yearly breakdown of all expenses incurred throughout the year. This document can be forwarded to your accountant to complete your year-end tax filings – it’s that easy!

Dispute resolution

In the event that a dispute arises between you and your tenant, we will mediate to resolve the issue to the satisfaction of both parties. Our preferred solution is to find a solution as a third party arbitrator, but we will also provide legal counsel in situations of escalated conflict.

Important reminders

We’ll keep you informed whenever an important date is approaching. Important dates include: when you’re legally permitted to increase rent; when your landlord insurance is expiring; when your tenant’s renters insurance is expiring; when a tenant will be able to, or plans to, move out. These reminders will help you avoid lost income, as well as uninsured damage and liability claims.

What does the Turnkey service cost?

Our Turnkey Property Management services include a tenant finders’ fee, as well as a recurring monthly fee. Due to tax reasons, there is a small additional fee for landlords renting to non-residents.

Service
Included
Fee
Finders’ fee
Tenant procurement and screening, property assessment
The equivalent of one month’s rent
Turnkey Property Management
Property management services
5% of each rent payment, ongoing
Non-resident fee
Property management services
6% of each rent payment (cumulative)

Work with us

Let us shoulder the burden of managing your property while you collect the rent. Our Turnkey Management service makes the passive income of your rental property truly passive.

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