Property Management In Toronto

[preston]

Hi,

I am moving to Toronto at the end of the year and currently sitting the Real Estate exams as this is the area I wish to work in, I currently run a lettings/property management company in the Uk and wondered whether it might be something I could do in Toronto.

Do landlords tend to use agents much in Toronto/Canada to manage single dwellings and apartments and if so is there much competition in this area at present? What areas of service do you think current property mangement companies could improve on? Do property management companies provide services such as guaranteed rental schemes etc over there?

Any feedback would be greatly appreciated

Kind Regards

Matt

 

[housingrental]

Hi Matt,

Yes landlords use rental agents and managers for single family houses and apartments in Toronto. (Many self manage also).

Yes there is a lot of competition. There are minimal barriers to entry to starting a firm so as result wage rates are low. However knowledgeable property managers that provide a high quality service are few and far between. This creates opportunity for those that that are.

If your moving to Canada you won`t be one of them.

If this is really a career you want for yourself consider working for a firm first and taking course work before going on your own.

There is more money to be paid in other real estate related jobs with easier work.

I don`t recommend a career in property management to my worst enemy. That being said if your willing to locate in KWC I`m hiring.

 

[preston]

Hi,

Thanks for the advice I have run my own property management business for 10 years now and just thought it might be an avenue worth looking into in Canada. I know what you mean about not recommending it to your worst enemy have worked pretty much 24/7 for the last 10 years!! but in the Uk it can pay very well you could comfortabley earn $250,000 - $300,000 pa after a couple of years with your own agency even though there is a lot of competition here to. Think i will stick to the sales side until I have a better understanding of the market place.

Thanks Again

 

[housingrental]

I hear you...
Not nearly enough to justify work involved!
Give me a call when your back in TO.

QUOTE (preston @ Jan 13 2010, 07:36 AM) Hi,

Thanks for the advice I have run my own property management business for 10 years now and just thought it might be an avenue worth looking into in Canada. I know what you mean about not recommending it to your worst enemy have worked pretty much 24/7 for the last 10 years!! but in the Uk it can pay very well you could comfortabley earn $250,000 - $300,000 pa after a couple of years with your own agency even though there is a lot of competition here to. Think i will stick to the sales side until I have a better understanding of the market place.

Thanks Again