What’s included in our Turnkey Property Management service?
Service
Rental property assessment
Tenant procurement
Tenant screening
Lease agreement
Facilitate move in
Closing day package
Rent collection
Deposits
Unit preparation
Guaranteed payment
Tenant interaction
Maintenance/services
24/7 Service to Landlords and Tenants
Landlords Group Insurance Policy
Monthly and Yearly Rental Statements
Dispute resolution
Landlord reminders for rent increase, insurance and lease end
Self-Managed
Managed
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 & 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.