LandLord FAQ

Landlord

F.A.Q.

About Us

How long have you been managing properties?

We have been managing properties since 1995. That’s 24 years!

How many properties do you manage?

We manage close to 1,000 properties – that’s approximately 1,500 units and 2,000 tenants!

What types of properties do you manage?

We manage all residential property types, including single-family homes, condo suites, townhouses, and multi-residential units. We also manage mixed-use (i.e., made up of both residential and commercial units) properties.

What areas do you service?

We manage properties from the lake to Aurora, and from Whitby to Burlington.

How big is your team?

While our team is always growing, as of 2019 we have 25 employees.

What else sets you apart from other property management companies?

One of the things that makes Landlord unique is the breadth of our services. Along with our Property Management Division, we also offer a full-service, investment-focused Real-Estate Brokerage, and a Renovations Division. Another thing that sets us apart is our thorough and detailed Client Intake Process. We on-board our clients using a specially-made method that is exclusive to Landlord. Additionally, we offer numerous specialty services that were designed with our clients in mind, such as our custom-built online Client Portal and our dedicated, in-house Tenant Screening Department

About Our Property Management Services

What’s the process if I want you to manage my property?

It’s easy: just contact us here. Once you’ve reached out to us, we’ll put you in touch with one of our experienced Sales Managers. If you decide that our services are right for you, you’ll be asked to sign our standard Management Agreement and provide us with important information about your investment property. Then, we can get started!

When and how will I receive the balance of my rental income/my monthly remittance?

In general, you will receive your remittance during the first week of every month. The funds you receive will be the balance ‘left over’ from the previous month (i.e., the rent you received, minus your standard monthly fees and any other charges to your account, such as maintenance items). Your monthly payment will be deposited directly into a bank account of your choosing.

What happens when a tenant calls with an issue?

Some clients like to be involved, while others prefer to keep their distance. As we become familiar with you and your property, we will tailor our approach to servicing your tenants to meet your needs. In general, however, when a tenant has an issue, they will be instructed to come to us first. Every property we manage is assigned an Account Manager. The Account Manager for that property will be responsible for working closely with you, the client, and with the tenants. Our protocol is for tenants to go directly to their Account Manager with any questions, concerns, or maintenance items. The Account Manager can be reached by phone or e-mail. Depending on the nature of the tenant’s concern, the Account Manager will take whatever steps are necessary to ensure swift resolution.

How do you choose your sub-contractors?

It is important to us that our sub-contractors provide our clients with swift resolutions and consistently exceptional service. Our sub-contractors are carefully hand-picked based on factors that include: how much experience they have, the quality of the work they have done (as demonstrated by their portfolio and recommendations), external ratings and reviews, their ability to effectively handle a large portfolio, and their commitment to excellence. *Please note that we only work with licensed (where applicable) trades that have confirmed enrollment with WSIB and proof of adequate insurance coverage. We are happy to use your preferred suppliers while managing your property, but we will require proof that they are properly insured and registered with WSIB.

How quickly do you resolve maintenance items? How long is your turn-around?

At Landlord, we strive to resolve urgent issues immediately. For non-urgent items, our goal is always to triage and resolve the issue as quickly and effectively as possible. While our ability to resolve issues swiftly is contingent on various factors, such as trade and tenant availability, we always strive to initiate the resolution process within the first 24 hours and we, as a company, have taken steps to help ensure that we are always doing everything we can to get the job done. For example, we have an after-hours, on-call manager available 24/7 and have multiple suppliers for each maintenance type (e.g., plumbing, electric, general/handyman). This helps ensure that we always have someone available to help you with your needs. Additionally, our team of 25 members helps to ensure that someone is always available to assist with your concerns.

When and how will I be notified that my tenant has reported an issue?

This is, largely, up to you. Many of our clients prefer not to be disturbed unless a serious situation comes up or repairs exceed a certain cost threshold. However, if you’d like to be informed every time there’s an issue, we are happy to accommodate your needs.

I would like my realtor to list for rental/re-rental. Is this okay?

Absolutely. Though we do have our own experienced Leasing Department and a full-service Real-Estate Brokerage, we’ll be happy to work with your agent.

When it comes to listing my property for rental/re-rental, what makes your team different from other realtors?

Experience. Our Leasing Department is responsible for screening 80+ tenant applications per month, approaching each leasing situation with a high degree of scrutiny and attention to detail. Our team has the experience necessary to identify red-flags, troubleshoot and problem-solve, and always get the job done in the best possible way.

A dedicated Tenant Screening Department. We have a dedicated tenant screening department comprised of staff who are trained to find you the best possible tenant(s) for your property.

Knowledge of current industry trends and standards. Our Leasing Department is fully up-to-date in terms of understanding Landlord & Tenant Board requirements and documentation, and navigating the paperwork surrounding all possible leasing scenarios. In fact, we use our own, customized lease addendum (in conjunction with the standard RTA Rental Agreement) that has been designed to protect our clients’ and tenants’ interests as thoroughly as possible. At Landlord, we do everything in accordance with the Residential Tenancies Act. Additionally, our comprehensive understanding of landlord-tenant relations (due in large part to our Property Management Division) allows us to navigate tenant selection with a know-how that’s hard to come by.

So much more for your money. The cost of renting through Landlord is one month’s rent + HST. The peace of mind our services afford you is priceless. At Landlord, this is what we do – we work tirelessly to connect landlords and tenants that are a good fit for one another. Additionally, because we will be managing your tenants after the lease is signed, you can rest assured that we won’t settle for anything but the best applicants.

Full-time, expert leasing staff. Our leasing staff are incredibly involved throughout the entire process and, because they are paid on salary, there is no incentive for them to pressure you into selecting an ill-fitting tenant. We will give you honest, transparent feedback about the applications we receive for your property and work to secure a tenancy that will be long-term. We will always do what is in the best interest of our clients and our tenants.

In-person screening. Our salaried leasing staff meet all tenant-applicants in-person. At Landlord, we absolutely will not lease a property until the applicants have seen the property in-person and been in contact with one of our leasing staff. This in-person meeting is a crucial part of our process, and helps to protect both you and the prospective tenants. How does it protect you? Meeting prospective tenants in-person, at the property gives our leasing staff a chance to thoroughly vet applicants, looking for red flags and warning signs that can’t be picked up from an on-paper application. This also helps ensure that applicants won’t be disappointed or dissatisfied with the property if their application is accepted (e.g., if a tenant doesn’t see the property in-person before applying to live there, they might find that it is smaller than it seemed in photos or on video, that it’s not as sound-proof or doesn’t have as much light as they thought, and so on). This vetting process is a crucial part of what helps Landlord get you lower turn-over rates.

Expert-level marketing. Our Leasing Department knows how to best-list your property towards your desired outcome. We consider every detail:  which photos should be used in the listing, which websites your listing should be posted on, what verbiage will generate the desired interest in the property, and so much more. Because we also host a full-service Real-Estate Brokerage, we are able to access and post to MLS as well as to private sites, like ViewIt, Kijiji, and our own Listings Page.

Exceptional knowledge of market pricing. We are constantly looking at market trends and projections to ensure that we get you the best possible price for your rental.

How do you screen tenants?

We take every possible precaution to help ensure that you get a great tenant. Within our Leasing Department, we have experts whose roles have been designed solely to help screen tenants and process rental applications. Our team of experts requires tenants to substantiate claims about their finances and employment with clear-cut, professionally-sourced documentation. What this means is that tenant applicants are expected to be able to provide us with important documentation, such as information about their credit score and credit history, a letter from their employer, pay-stubs or bank statements that can corroborate their employer’s letter, government-issued ID, and a list of references. Our experts will then verify the legitimacy of these documents and, in all cases, call each reference directly.

Can you get me long-term tenants (i.e., tenants that will stay longer than 2 years)?

Once you’re ready to rent, we will start a dialogue with you to determine what your tenancy expectations are. Knowing what you’re looking for allows us to more effectively screen tenant applicants to find tenants whose expectations are in-line with your own. If you are looking for a long-term tenancy, we can assure you that our Leasing Department is trained to help identify opportunities for a long-term rental and is happy to help facilitate the signing of a multiple-year lease. However, a long-term tenancy isn’t the right fit for every property owner. Allowing for natural turnover provides investment property owners with an opportunity to increase rental prices beyond what would be allowed within an existing tenancy.

What is the industry-average for length of tenancy?

The average length of tenancy is 1 – 2 years.

On average, how long does it take to find a tenant?

In general, it takes about 30 days to find a suitable tenant. It is important, however, to bear in mind that the rental timeline varies from property-to-property and depends on factors such as time of year and listing price. It is also important to remember that finding a tenant is easy, while finding the right tenant can sometimes take a bit more time.

What will my role be in choosing tenants for my property? Can I accept or reject tenants?

Once we believe we have found a good applicant, we will send you an e-mail with a summary of the applicant’s information. We will not move ahead with placing a tenant without your approval. However, it is important to bear in mind the laws and guidelines surrounding when it is okay for a landlord to reject a tenant applicant – there are only a small number of reasons for which it is okay to say “no” to an applicant. For more information about this subject, please visit: http://www.ohrc.on.ca/en/human-rights-and-rental-housing-ontario-background-paper

How much can I rent my property for? Who decides the listing price?

To determine your property’s rental value, our Leasing Department will look at comparable listings and take into consideration factors such as size, location, area, amenities, upgrades, and current market trends in order to determine how much your unit can be leased for. Our goal is always to maximize your profit while attracting the best possible tenants. Once the research is complete, our Leasing Department will make a recommendation to you for final approval.

How does LPRM collect rental payments from tenants?

Most of our tenants enjoy paying us through our Online Bill Payment feature (e.g., in the same way you’d pay your phone bill, through your bank’s mobile app) or Pre-Authorized Debit (PAD). However, we also accept payment via bank-transfer and cheque.

What happens if my tenant pays rent late or not at all?

In all cases, we carefully abide by the processes outlined by the Province of Ontario. Starting from our thorough financial screening and careful selection of your tenants, we do everything within our power to help ensure that your tenants will pay their rent in full and on time. Our Accounting Department keeps careful track of tenant payments. Should your rent not be received within the first few days of the month, we will take immediate action. In all cases where rent is not paid within the first few days of the month (unless the owner says otherwise), we will issue a form N4. This form compels tenants to pay their rent within a set period of time and allows for escalation if the rent is not received. If ever a tenant does not comply with a request to pay their rent, we will reach out to you to confirm whether you wish to proceed with escalation. If you give your consent, we will enlist the assistance a licensed legal representatives to take this matter before the Landlord Tenant Board.

What happens if there is a problem in the unit after-hours or on weekends? If an issue arises during these times, when and how will I be notified?

We have an after-hours Emergency Line that is available to our tenants 24/7. Following an after-hours emergency, you will usually be notified the next business day (at the latest). Depending on the nature and outcome of the emergency, we will try to reach you by phone or e-mail.

How would you respond to a difficult situation from a tenant?

We always strive to handle every situation with integrity, honesty, compassion, and respect. Our Account Managers are experts when it comes to conflict resolution and de-escalating tricky situations. Usually, our Account Managers will be the first point of contact and will start by trying to understand where the tenant is coming from. If mediation through an Account Manager is unsuccessful, the tenant will usually be referred to an Executive Team Member. For matters that escalate beyond reasonable cooperation, we work with a number of qualified legal representatives who will help us resolve the issue within the parameters of the RTA.

What insurance should I carry? Can you insure my property for me?

We require that you have full insurance coverage, including liability and replacement insurance – we will not manage your property until we receive proof that it is properly insured. Unfortunately, we are unable to insure your property on your behalf. However, to make securing your rental insurance as easy a process as possible, we have partnered with our preferred brokerage in order to offer you competitively-priced, worry-free insurance on your unit. If you have your own insurance provider or someone else in mind, that’s fine too. However, we will require proof that your property is insured before we are able to rent it. We would be happy to put you in touch with an insurance agent and/or we encourage you to reach out to a qualified insurance provider to discuss this matter further.

Can your Standard Program be upgraded, downgraded, or otherwise customized?

Yes. When you begin management with us, you will be able to choose between our Standard and Enhanced Programs. You are able to switch between these programs during tenant turnover (but not during an active tenancy period). To help you customize your experience with us, we also offer most of our inspections and other services a la carte. For more information, please reach out to one of our Sales Managers.

What happens with First Month’s Rent (FMR) and Last Month’s Rent (LMR)?

If you list your property through us, we will collect FMR and LMR on your behalf, remit payments to the agents involved (our standard fee is one month’s rent + HST), then wire you the balance owed to you on your usual remittance schedule (refer to Question #2 for more information about our remittance schedule).

What additional fees and charges (i.e., not included in my monthly management fee) might come up?

Scheduled maintenance charges:

E.g., snow removal, lawn care, cleaning the eavestroughs.

Unexpected repair charges:

E.g., dishwasher breaking, toilet repair, electrical and plumbing work.

Inspection fees

While one, initial inspection is included in our standard fee, we also offer a variety of other inspections:

Annual/Fall Inspection

Spring Inspection

Tenant Move-In and Move-Out Inspections

Drive-by Inspection

Inspections for Vacant Properties

NR4 fees

If you are a non-resident and would like to make use of our non-resident services ____[LINK TO PAGE THAT MENTIONS OUR NR SERVICES], you may be charged additional fees. For more detailed information about the services we offer our non-resident clients, contact us here___.

Charges imposed by the City

E.g., utility redirection fees, fees relating to the collection of garbage.

Tenant Screening Fee

For a nominal fee of $350 + HST, you can make use of our professional tenant-screening services.

Rental Fee

If you decide to rent your property through our Leasing Department, you will be charged a fee of one month’s rent + HST.

Legal fees

In the rare case that your tenants withhold rent or if you are called to the Landlord Tenant Board, you may need to pay legal fees, such as processing fees and legal representative fees.

Can I terminate my contract with LPRM? If so, how? What consequences are there if I terminate our contract?

Yes, you can terminate your contract with 30 days’ notice. We appreciate that your circumstances and needs might change. While we have clients who have been with us for many years, we also have clients who make use of our services for shorter periods of time. However long you are in need of our services, we will be happy to work with you. As such, there are no penalties or consequences for terminating your agreement with us.

Do you conduct regular inspections?

Yes. Depending on the type of property, we recommend at least one inspection per year, usually conducted in the fall. Conducting an annual inspection helps to protect your investment property from common risks and can help you nip unforeseen problems in the bud. Every year, we come across and address serious fire deficiencies and defective alarms, as well as less common problems, like un-authorized lock changes and illegal sublets.

What about snow removal and lawn-care? Who will take care of this?

While this depends, in part, on any pre-existing arrangements you have, we can handle this for you in a variety of ways. We can supply you with our own, highly-experienced third-parties, or are happy to work with your preferred suppliers and trades to get the job done (provided, of course, that they are properly insured and registered with WSIB). For single-family homes, it is also quite common to arrange for the tenants to manage snow removal. We’ll find the solution that’s right for you.

How is a maintenance plan developed? What do you do to ensure maintenance plans are followed?

Your customized maintenance plan is developed during the onboarding process. We will work with you to identify your property’s unique needs and to come up with the best approach to handling them. To ensure that your maintenance plan is followed accurately year-round, we use a specially-designed software that helps us keep track of what needs to be done. Your personal Account Manager will familiarize themselves with your maintenance schedule and utilize our proprietary Diary system to make sure that your instructions are followed as accurately as possible.

What will my role be after we sign the contract?

Once the contract has been signed, we will be looking after the day-to-day management of the property on your behalf. You will be introduced to your personal Account Manager and they will always be happy to answer any questions you have and to take your feedback into consideration. Ultimately, how involved you are is up to you – you’re welcome to remain an active participant in your property’s management or to sit back and relax. Because most of our clients prefer to be minimally involved, we have designed various means of keeping our clients in-the-loop. For example, our custom-built Client Portal gives you live access to your financials and copies of invoices, as well as access to important documents and property inspections reports.

I want to self-manage, but will you help with the rental?

Of course! We’d be happy to help you find the best possible tenants for your property. To get in touch with our Leasing Department, click here.

I want to list my property through my own REALTOR. Can you still screen the tenants for me?

Absolutely! We will gladly assist you and your leasing agent with finding the best possible tenants for your property. For a fee of $350 + HST, you will have access to our Tenant Screening Department’s tried and true tenant screening and selection process.

What should I know if I reside outside of Canada and I am collecting rent on a Canadian property?

When you receive rental income from a Canadian investment property, the payor (your tenant(s) or property manager) is obligated to withhold non-resident tax at a rate of 25% of the gross rental income received. This policy is mandated and enforced by the CRA, and the tax collected must be received by the CRA by the 15th day of the month following the month rent is received. Our team can help manage this process for you and structure your remittances in such a way that you can remit 25% of the net proceeds, as opposed to remitting 25% of the gross proceeds.

What does it mean to be a non-resident of Canada (for tax purposes), and how do I determine my status?

If you live outside of Canada, you are deemed to be a non-resident. However, there are exceptions to this, and those exceptions are based on the number of ties you have to Canada.

To determine your status, we recommend following the instructions provided by the Canadian government: https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/information-been-moved/determining-your-residency-status.html

For more information about services we offer our non-resident clients, please contact us directly.

About Our Real Estate Brokerage

How will you market my property? What will you do to ensure that I maximize on my investment?

  1. We tailor our approach to your unique needs, while using tried and true industry expertise.
  2. For more information about how we might approach your situation, please reach out to one of our Sales Representatives.

Can you help me buy/sell a tenanted property?

Yes. We specialize in the purchase and sale of tenanted properties. To discuss your situation in more detail, please contact us.

What separates you from other realtors?

At Landlord, we bring to the table a unique perspective and proven expertise that is informed by our experience in both the Realty and Property Management industries. We have the knowledge and skill necessary to facilitate the purchase and sale of a wide range of property types, including single-family homes, condo units, multi-residential investment properties, mixed-used investment properties, and tenanted properties of all types. Want to know more? Contact our Realty Department.

I want to buy and renovate… Can you help?

Absolutely! We’d be happy to. We have a full-service Renovations Division that can handle all your reno-related needs. We also offer a full-stop project management service. For more information about our services and pricing, please contact us.

If I sell my investment property as a non-resident what should I be aware of?

Withholding tax. If you sell your investment property, up to 25% of the sale price could be held in escrow until tax burdens have been satisfied. Please speak to us and/or your accountant for more information. Contact us.

What should I know if I reside outside of Canada when buying a property in the Greater Toronto Area?

Canada is relatively open to international investors. However, there are things to consider. For example, a down-payment of at least 20% of the purchase price is required for U.S. residents, while a 35% down-payment is required for non-American investors. Additionally, the transaction would be subject to both a 15% non-resident speculation tax and land-transfer tax. For more information,  contact us.

What should I know if I reside outside of Canada when selling a property in Canada?

When a non-resident of Canada sells their real-estate assets, 25% of the purchase price will be withheld on closing. This percentage will be held until the non-resident has obtained a clearance certificate from the CRA indicating that they have made appropriate arrangements to pay income tax on the proceeds of the sale. There are important timelines and administrative requirements linked to this process. We can help you navigate this territory in a proactive and effective way. For more information,  contact us.

About Our Renovations Division

What work needs to be done to my property? How do you determine scope of work?

Landlord offers you a dynamic, customized experience – no two properties (or clients!) are the same, and we want to make sure that you get exactly what you want in exactly the right way. Usually, we will start by talking with you about what it is that you envision. The final scope of work will be based largely on our discussions with you, and will take into consideration important information, such as how much you’re willing to spend, what you want to see done, and how long you’re willing to have the property off the market. Next, we will visit the property and seek the opinions of our most trusted trades. The scope of work that we put together for you will take into consideration what you want done, your budget, the projected cost of materials and labor, how long it will take to complete the renovations, and the permits that will be involved.  For more information, please reach out to our Renovations Division,  contact us.

How do you determine the estimated cost of the renovations?

To determine the cost of your renovation project, we will take into consideration all the information obtained in determining the scope of work. We will carefully consider the details of your vision for the property, the projected cost of materials and labor, and other important factors. In determining the cost of your project, we will make full use of our industry knowledge and experience. In many cases, we will also have our most experienced and trusted contractors attend the property with us to give their professional opinion on the cost of work and supplies. For more information about how we determine our pricing, please  contact us.

How involved will I need to be in the renovation process?

While this is ultimately up to you, most of our clients don’t have the time to be heavily-involved in their renovation projects. As such, we pride ourselves in being able to offer a uniquely hands-off approach to the renovation experience. Our Renovations Division brings to the table the right industry expertise and project planning know-how to see your renovation project through to the end with minimal involvement from you. To discuss your needs further, you can get in touch with our Renovations Team here, contact us.