Poll: What are you paying for Property Management in Hamilton, Toronto and Kitchener

[InvestagainInc]

Hi there,

I am running a poll to see what people are paying for property management in Hamilton, Kitchener/Waterloo Cambridge and Toronto. I am also interested to know what services people receive for their rate and how many units they have.

Thanks for taking part!

 

[RanjitPlaha]

Sorry, but where is the poll? DIdn`t see it on your website.

 

[housingrental]

Scott - For most firms not mine in particular - Hamilton and Kitchener:

Single houses / smaller condo`s - Generally 5%-12% of gross + half month to full month rent for re-rental- Most will come in at around 7% and charge one months rent for rentals. Re half month vs full month for re-rental - If an apartment for $900 most will charge $900... If a house rents for $2000 some will charge $2000 some will only charge $1200, etc..

Small multiplex`s - - Generally 5%-8% of gross + half month to full month rent for re-rental- Most will come in at around 7% and charge one months rent for rentals

Larger multiplex`s - Generally 5%-6% + half month to full month rent for re-rental or onsite super that owner pays for.

Larger buildings - Generally 3%- 6% + onsite super that owners pay for.

In Toronto rates are often slightly higher.

 

[Nicola]

We have a 2 unit semi-detached house in Toronto. We pay $190 flat rate (plus $25 for dealing with non-resident taxes). One month`s rent to find a new tenant. 5% surcharge on any maintenance over $1500. Yearly inspection (with lots of photos uploaded to the website) is about $250-300. Pretty good group insurance plan (cheaper than what we had before).

Our previous PM charged 10% to a maximum of $185 (plus $20 for non-resident). They used to charge 75% of 1 month`s rent for a new tenant; now 100%.

Services? for both of them, collecting rent, dealing with repairs and maintenance, inspecting the property etc.

 

[Nir]

Thanks Adam, good summary.

 

[InvestagainInc]

Thanks all for the reply`s.

Anyone else have any more examples of what you are paying for property management and what services you are receiving from Toronto, Kitchener, Cambridge, Waterloo, Hamilton or surrounding areas?

This is helpful.