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5 Condo Marketing Tips From Toronto’s Leading Property Management Company

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Entering into the real estate market as a condominium owner can be a lucrative and savvy move. The industry is booming, and you can see a large profit if you fill your units quickly. 

However, while there are plenty of high-quality renters looking for their next home, the competition is fierce, particularly in the GTA. Without a canny marketing strategy, you may struggle to find suitable tenants. 

Here are 5 condo marketing tips on how to market a modern condo and get it filled fast.

1. Highlight Your Recent Modifications and Improvements

Most renters will be attracted to condos that offer the latest and greatest. Treat new appliances and modifications as highlights. In your property listing, draw attention to the latest improvements you’ve made to the unit. 

By highlighting the newness of your property, you’ll immediately put yourself above your competition. You’ll also create the impression of being the type of landlord who frequently upgrades their units.

2. Engage on Social Media Platforms

In this day and age, no marketing campaign can avoid social media. Platforms like Instagram, Twitter, and Facebook are fantastic ways to reach a wide audience with your property listing. 

Social platforms make it easy to establish a reputation and become a familiar property rental brand. Soon, renters in the GTA will recognise this brand, and come to think of you as a great place to start their hunt for their next home. 

Find out more about using social media as a marketing tool here.

3. Research Your Competition

Marketing trends can change and shift quickly. Even though you may not be a professional in the field, you can still stay on top of real estate marketing trends with some simple research. Find out what your competition is doing in order to succeed. 

Become familiar with the types of images, blurbs, and ads that are attracting attention. A simple way to improve your own marketing strategy is to emulate what you see.

4. Invest in a Professional Interior Designer

By hiring a professional interior designer, you’ll optimise the way your unit looks. Professional interior design can immediately transform a basic condo into a stylish and sophisticated home. Renters will be instantly drawn to the images of the unit when they look like they were taken straight from a magazine. 

Regardless of whether your unit is being advertised as furnished or unfurnished, streamlining the design for your marketing photos will show off your product in its best light. By showing off a well-designed apartment, you’ll take the guesswork out of the equation as renters won’t need to imagine or visualize how they could make the property attractive.

5. Use an Email Marketing Strategy

Email marketing is a surprisingly effective way to grab readers’ attention and publicise a new property. Start by gathering the emails of potential tenants in the GTA. A great way to accumulate a list of emails is to offer a special deal in exchange for the email address. In the real estate industry, this offer might be a free PDF guide to renting in Toronto, or it could be a discount with a moving company. 

Once you’ve got a good email list, you can begin to send a weekly or biweekly newsletter containing images and details about your newly available condos. Email marketing is a great way to advertise a modern condo in the GTA. The majority of renters in the GTA looking for modern condo rentals are young professionals. Studies have shown that a high concentration of condominium renters are under the age of 35. 

This means that your target audience should be renters in the millennial age group. Email is a great way to connect with this demographic. Studies have shown that millenials prefer email communication, and that they are more likely to be won over by a promotional email, so it’s well worth making use of this easy, free marketing tool for your modern condo. 

A Property Management Company Can Help. Contact Del Condominium Rentals

If the very idea of marketing your rental unit sounds like a nightmare to you, we are here to help. We are a property management company with decades of experience helping landlords in the GTA take care of every difficult task that comes with the job. 

Our services include:

  • High-quality property marketing
  • Thorough tenant screening
  • Rent collection
  • Legal advice and services
  • Property inspections
  • And much more

If you’re ready to say goodbye to the complicated and stressful life of the independent landlord, we can help. Find out more about our services by calling 647-952-3644 or emailing sales@delrentals.com

Are You Interested in Working With Del Condominium Rentals?
Submit your info below to download FREE eBook and learn more about our services, management cost and more


Tips for Following Health and Safety Standards in Your Rental Property

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While owning a condominium in the GTA can be a lucrative business investment, there are a vast number of province-wide regulations that you need to follow when you lease your rental property. Some of the most important laws to be aware of are those that relate to the health and safety standards for all rental properties in the GTA. 

Failing to comply with these rules can get you into serious legal and financial trouble. We’ve put together a set of useful tips that are designed to help you follow these regulations—so you can reduce your risk and turn your property into a powerful investment tool.

Keeping the Property in Good Repair

The Residential Tenancies Act (sometimes known as the RTA) states that landlords in Ontario are required to follow certain guidelines for the health and safety of their tenants. The most important regulation, and the one you are most likely to come across as a landlord, is that the property must be kept in good repair. 

This means that it is your legal responsibility to repair any damage caused by reasonable wear and tear for your tenant’s safety. This can include: 

  • Replacing broken appliances. Be sure to check the lifespan of all of the appliances in your rental unit. Most appliances have a lifespan of around ten years. However, this can vary. Do your research before an appliance breaks down. 
  • Fixing leaking faucets. Leaking faucets are a matter of safety for your tenants as water leaks can lead to dangerous and expensive mould build-ups.
  • Repainting walls with peeling paint. Peeling paint poses a health danger as it can create lead-contaminated dust.
  • Dealing with clogged pipes and drains. Clogged pipes can also create an unhealthy atmosphere in the home. If left untreated, they can also damage your property.
  • Providing a suitable supply of utilities. Unless it is specified in the lease, you cannot start charging for utilities. 
  • Maintaining clean and hazard-free communal areas. As the owner of the entire building, you are responsible for keeping areas like the garage and communal hallway clean and free from hazardous materials.
  • Preventing and removing pest and insect infestations. You may be surprised to learn that pests and insects are also your responsibility—however, if your tenant reports an infestation, it’s your job to hire a pest control company. 

All of these responsibilities are in place to ensure your tenants live in safe and healthy conditions. It’s important that you are aware of which repairs and utilities you are responsible for to avoid the legal repercussions that come when you fail to comply. 

It’s always best practice to stay on top of your repairs and maintenance in order to keep your property from falling into a state of disrepair. If you are new to being a landlord, you may be surprised at how quickly “wear and tear” can occur. For this reason, schedule regular inspections where you can keep an eye on what is safe in the unit and what is not. 

The Most Common Legal Repercussions 

When you fail to keep your rental unit safe by neglecting any of the issues mentioned above, you can quickly run into legal difficulties. 

Here is what you can expect to occur when you don’t maintain healthy living standards for your tenants. 

  • After issuing a letter to you, the tenant can contact the Property Standards department. 
  • An inspector will make an appointment and order the necessary repairs with a deadline.
  • If you fail to comply in time, you will be fine or event charged with an offence.

It’s important to note that even if you do comply, the tenant can apply for an abatement of rent until the repairs are made, so you may lose your rent money until the home is safe and healthy. Be careful to request the official documentation proving that your tenant has applied for this abatement in an official capacity. 

Del Condominium Rentals: Helping Landlords in the GTA

Staying on top of your property’s compliance with health and safety standards is both a time-consuming and an incredibly important part of your landlord duties. If you fail to stay on top of the crucial repairs listed in this article, you may find yourself in legal trouble for failing to ensure the health and safety of your tenants.

That’s where we come in. At Del Condominium Rentals, we offer a full range of property management services. We shoulder the burden of repairs, rent collection, tenant screening, and more—so you can sit back and wait for your monthly rent cheque. 

Find out more about our services or contact us at 647-952-3644 or by emailing sales@delrentals.com
Are You Interested in Working With Del Condominium Rentals?
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The Latest Apartment Design Trends Your Renters Will Love

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Apartment Design

Half the battle of being a landlord is finding suitable tenants to lease your units. The real estate market in the GTA is becoming ever more competitive, with more and more landlords vying for renters’ attention. 

In order to stand out from the crowd, you need to ensure that your rental units are looking modern, fresh, and appealing. Outdated, worn furniture and chipped paint won’t get you very far. Instead, try implementing a few of these design trends to make your units competitive in the current marketplace. 

Choose a Popular Interior Design Style

When renters begin their hunt for a new apartment or condo unit, the first thing they will notice is the images of the apartment, whether they are looking for a furnished or an unfurnished property—the interior design in the pictures matters. By choosing a modern, popular interior design style for your rental units, you will immediately attract the attention of a much wider range of renters. Here are a few styles that will put you above your competition.

  • Industrial – The industrial style has been incredibly popular in interior design for a few years now. This modern, minimalist look tends to consist of dark colours, exposed bricks and pipes, and modern, functional furniture. 
  • Rustic – Think hardwood floors, tree trunk tables, and wooden ceiling beams. Rustic design with a modern twist will make you stand out from the other condos with bland modern designs.
  • Minimalist – You can’t go wrong with a minimalist design. Go for soft, muted colours and a few pieces of carefully selected decor. 
  • Art Deco Modern – The mid-century modern look will instantly draw attention to your rentals. You’ll be surprised by how many millennials are keen to live in a Mad Men-inspired abode. This style is incredibly popular at the moment, so you should find it easy to procure pieces for your units.

 

Whatever interior design style you choose, the most important thing is that you stick to it throughout the apartment. Nothing is more off-putting to renters than an apartment with haphazard, inconsistent design. 

Invest in Real House Plants 

House plants are all the rage in modern interior design. Show that you’ve put some extra thought and care into your rental unit by investing in a few house plants. You might also consider placing some live plants in the communal areas of the apartment building. 

Renters will be instantly drawn to your units. Not only will house plants make them look fresh, clean, and stylish, they will also send an important signal – that you are a trustworthy, reliable landlord. 

Upgrade the Unit’s Artwork

Lots of landlords fall into the trap of skimping on the unit’s artwork. While some renters will see past the cheap IKEA pieces you’ve hung up on the walls, others will immediately dismiss the unit in favour of one with trendier artwork. Plus, by upgrading your artwork, you’ll show potential tenants that you take good care of your apartment units.  

Replace old, drab artwork with framed prints. Opt for a modern design with crisp, thin, modern frames and simple, abstract art that doesn’t overpower the room. Try to avoid bright colours or anything distracting. The artwork in the unit should blend in with the room while pulling everything together visually.

Avoid Bold Trends and Stick with Classic Styles

When in doubt, stick to classic styles. Most renters want to see a beautiful apartment that they can personalise with their own style. Lots of renters will move around any furniture, rearrange or change the artwork, and add their own touches to the rooms. If you opt for bold stylistic trends, many renters will find it difficult to feel at home in the space.

For instance, avoid trends such as bold paint colours, patterned wallpaper, bold lighting fixtures, and so on. Instead, opt for styles that allow you to create a somewhat neutral and versatile look.

Del Condominium Rentals Offers Industry-Leading Remodeling Rates

Being a landlord comes with all kinds of unexpected tasks. If you’re tired of the late-night maintenance calls, the competitive real estate market, or the nuisance of rent collect, Del Condominium Rentals are here to help. 

We are the GTA’s favourite property management company. With decades of experience and a full range of services, you can sit back and relax while we do all of the hard work for you.

Our list of property management services include:

  • Professional property listing and marketing
  • 24/7 property maintenance
  • Legal advice and supervision
  • Rent collection
  • Property valuation
  • Design advice
  • And more

To find out whether Del Condominium Rentals is right for you, visit our services page or today by emailing sales@delrentals.com

Are You Interested in Working With Del Condominium Rentals?
Submit your info below to download FREE eBook and learn more about our services, management cost and more


5 Things Your Property Manager Wishes You Knew

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The relationship you have with your property manager is one of the most important relationships you build as a real estate investor. Ideally, both you and your property management team would have the same goals: to take care of the property and generate significant income. An investment property is most successful when a homeowner and a property management team work together. 

Whether you are a first-time landlord that needs a little help navigating the world of real estate investments, or you’re a seasoned investor-owner who prefers being more hands-off, building a positive relationship with your property manager is the first step towards success.

For a little more insight on how to build this positive relationship with your property manager, here are five things your property manager wishes you knew:

1. Follow The Rules

Real estate investments, just like almost everything else in our society, run best when there are guidelines and rules to follow. These rules are in place so that people stay safe, that laws are followed, and accidents and damages are reduced. You have specific rules for your condo, and you expect the property manager and tenants to follow them. The property manager has rules for their owners as well. Following these guidelines and community rules goes a long way in maintaining a positive relationship with your property manager.

If your property manager is managing more than just your property, they can’t bend the rules for you and expect the other owners not to notice. The rules are there for a reason, and you make the property manager’s job a lot easier when you abide by them. 

2. Kindness Goes A Long Way

It’s important to remember that property managers are people too. You’ll probably be able to solve a problem a lot faster through patience and kindness than you will through yelling and threats. Often, homeowners only go to their property managers when there is a problem. And while handling problems is what they are there for, they also appreciate hearing good news too. A little thank-you or acknowledgment of a job well done can mean a lot for a busy property management team. 

You also can improve your relationship with your property managers by improving your relationship with those in the community. Showing a little kindness and courtesy to those who live around you can make everybody’s job a little easier. 

3. If You See Something, Say Something

Your property management team is responsible for working as an extra set of eyes and ears on your specific property and the community. However, they can’t be everywhere at once. If you see a problem, say something about it right away. If you notice there is an issue with a public amenity like a swimming pool or a tennis court, say something as soon as you notice it. If you notice there is an issue within your specific condo, let your property management team know before it turns into a much bigger issue. Withholding information from them or just assuming someone else will bring the problem to their attention hurts everybody involved. If you see something, say something.

4. Keep The Communication Flowing

Property managers are really good at what they do, but they are not mind readers. They can’t help you solve a problem if you don’t communicate that there is a problem in the first place. Clear and consistent communication between you and your property manager will make everybody’s job a little easier. 

Provide multiple ways for your property manager to get in touch with you. If there is an emergency or a property manager needs to make a decision on your behalf, they may need to contact you right away. Effective communication goes both ways. If you expect your property manager to respond to your emails and texts promptly, you have to give them the same respect.

5. Not Everything Is An Emergency

Property managers are in the business of handling emergencies when homeowners are not around to do it. If a pipe bursts in the middle of the night or there is a medical emergency with a tenant, your property manager is usually the first in line to take action. This is why so many people hire property management companies to look after their properties when they can’t be there to handle emergencies on their own. However, not everything is an emergency. A toilet that is running or a dishwasher that is not working correctly does not warrant a 3 a.m. call to your property manager. 

There are some rental issues all condo owners will eventually face, and your property management team is more than equipped to help you handle them. But property managers also appreciate it when a homeowner takes discretion when requesting emergency attention. 

Final Thoughts From Del Condominium Rentals

One of the best things a homeowner can do for their investment is to build a positive relationship with their property manager. This begins with honesty, respect, and cooperation. 

Del Condominium Rentals is responsible for handling all of the behind-the-scenes work that makes an investment property run smoothly. New landlords and seasoned investors who are looking for a more hands-off approach to real estate investing trust Del Condominium Rentals to take care of their properties seamlessly. We work hard to foster positive professional relationships, which is why so many investors trust us to manage their properties.

Are you interested in working with a property management company like Del Condominium rentals? Get in touch with us today at 647-952-3644 or email us at sales@delrentals.com

Are You Interested in Working With Del Condominium Rentals?
Submit your info below to download FREE eBook and learn more about our services, management cost and more


Property Management Tips: How to Prevent Maintenance Issues Before They Arise

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The life of a landlord is never easy. Designing and marketing your condo units is only the beginning of the job. Once your tenants have moved in, you’ll need to deal with all sorts of maintenance and repair issues as and when they arise. From broken heaters to leaking pipes, there are a wide range of issues that landlords may need to deal with on a regular basis. 

Being available at all hours of the day and night is draining for anyone. That’s why we’ve come up with a few tips on how you can prevent the most common maintenance issues before they arise. Taking these preventative measures on your rental properties will save you precious time and money that was once spent securing late-night, last-minute repair services.

Replace Old Appliances 

Old appliances can be ticking time bombs just waiting to go off. While you may be tempted to keep your larger appliances in your rental units until they finally break down for good, spending a little money on replacing all of your old appliances will save you a lot of hassle and expense in the future. 

By replacing old appliances, you’ll guarantee that they never break down at an inconvenient time, forcing you to quickly order a replacement. Plus, by replacing your old appliances now, you may even be able to increase your monthly rental rate – renters will be far more likely to spend a little more on a unit that boasts fresh, state-of-the-art appliances.

Service the Heating and Cooling System

This is a particularly important tip for landlords in the GTA. Toronto’s weather, as we all know, is incredibly varied. With frigid winters followed by glorious, hot summers, city dwellers are bound to use their heating and cooling systems on almost every day of the year. This means that the system will need some extra care and attention to prevent unexpected – and potentially costly – faults.

Preventative measures can include regularly changing the furnace filter, checking for leaks, and scheduling professional maintenance at least twice a year. A professional will be able to pinpoint any problem areas that might become more serious if left unattended. By resolving these issues before they turn into long term damage or late night break-downs, you’ll keep your tenants happy and your maintenance costs down.

Frequent Painting

You may not realize this, but painting is considered essential preventative maintenance. Repainting your interior walls shouldn’t be left till the paint is chipping and cracks are showing. This is because paint acts as a protective layer for your walls that prevents a build-up of mildew, mold, stains, and peeling. Essentially, good quality, frequent paint jobs will keep your walls in good condition for years to come. 

Preventative Measures for Plumbing

The plumbing system in your property is probably the area that needs the most maintenance. It’s a complex and well-used system, which means it can be prone to leaks, rust, clogs, and other issues. Here are a few of the preventative measures you can take to prevent last-minute plumbing problems.

  • Fix leaking faucets 
  • Unclog slow drains
  • Look for water leaks in any of the exposed pipes
  • Give your tenants clear instructions about what can be flushed down the drain
  • Keep tabs on your water pressure
  • Clean faucets and showerheads of any sediment build-up
  • Invest in a water softener

These are all fairly simple tasks to do in your regular property inspections. If you don’t feel up to the task, be sure to arrange a regular plumbing inspection to prevent more serious issues before they arise.

Regular Property Inspections 

In order to stop issues before they become serious and unnecessarily expensive, ensure that you schedule regular property inspections. These inspections will give you the chance to survey the unit for any signs of damage or basic wear and tear. 

Del Condominium Rentals – We Help Landlords in the GTA 

As an independent landlord, being available 24 hours a day for last-minute repairs can be draining, but staying on top of your property’s maintenance can be next to impossible. 

That’s where Del Condominium Rentals comes in. We offer a wide range of professional property management services to take the burden off landlords in the GTA. Including an extensive professional property inspection service, we also offer:

  • A marketing service that lists your unit with professional photos to new tenants 
  • An accounting department that arranges rent collection and creates regular financial statements for your convenience 
  • A legal team that takes on any disputes 
  • A wide network of maintenance and repairs service companies 

Contact Del Condominium Rentals today by calling 647-952-3644 or drop us an email at sales@delrentals.com to learn more about the services we offer.

Are You Interested in Working With Del Condominium Rentals?
Submit your info below to download FREE eBook and learn more about our services, management cost and more


4 Common Rent Collection Problems Landlords in the GTA Face

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As a landlord, you need to be able to rely on your tenants to pay their rent. When tenants struggle with their personal finances and fail to pay their rent, you can easily run into serious financial problems of your own. 

That’s why it’s crucial for every landlord to understand the various rent collection problems that commonly occur. If you learn to spot the signs of these rent collection problems, you may be able to avoid the hassle and stress of late rent payment. 

Here are the most common rent collection problems along with some suggestions on how you can avoid these problems in the future.

1. Poorly Stated Rent Policy in the Lease Agreement 

Most rent collection problems stem from a vague, poorly written lease agreement. The lease agreement is the document in which you and your tenant will formally agree on the terms of the lease. Some important things to include are:

    • Monthly rent. Specify the exact rental amount, when it is due, and how it is to be paid.
    • Grace period. If you are implementing a grace period, clearly state how this grace period works in practice.
    • Set consequences. State the consequences for late payments, including late fees and potential evictions.

By clearly specifying how much rent is owed, and when it is due, you will avoid arguments with your tenants about rent. By including specific details about any grace period and the consequences for late rent, you will further reduce your risk of any rent collection problems.

2. Accepting Partial Payments

Many landlords fall into the tempting trap of accepting partial payments. It can be tempting to be lenient when your tenants are struggling to come up with the full amount. Plus, you may need the partial payment to tide you over financially until the full amount is ready.

However, accepting partial payments can send a dangerous signal to your tenants. When they realize that you are tolerant of this kind of behavior, they will be likely to become too relaxed about their monthly rent. You may find that the situation starts to occur more and more frequently.

3. Not Offering Payment Solutions

While you do need to be strict with your tenants and follow the same protocol in each scenario, this doesn’t mean you can’t have a somewhat generous solution in place for tenants experiencing financial difficulty. If you follow the same payment solution policy for each tenant, you will get the reputation of being a generous and fair landlord, while avoiding being taken advantage of. 

You may wish to implement a system where tenants can choose whether they pay by the week or the month, for instance. By being flexible about how or when your tenants pay, you may find that they find it easier to make their payments on time.

4. Poor Tenant Screening

The truth is, most rent collection problems are inevitable and avoidable. In some cases, the tenants you chose are simply unsuitable and will eventually find it difficult to make their monthly rent payments. Often, this is no fault of you or the tenants – you are simply a bad match financially. 

A good tenant screening process should ensure that all of your tenants are financially prepared to pay rent each month. Tenant screening is a system that checks a tenant’s credit score, income stability, personal references, and general reliability. A good tenant screening process will help you to choose tenants who can always make their rent payments in full and on time.

Use a Property Management Service: Contact Del Condominium Rentals 

Avoid the stressful job of rent collection with the help of a property management professional. Our team of experienced property managers at Del Condominium Rentals is here to help you with all of the burdensome jobs that come with being a private landlord. 

From collecting rent and finding good tenants—to inspecting the property, we take care of all of it. Our wide range of property management services include:

  • Professional, selective property marketing
  • A reliable tenant screening process
  • Dependable and strict rent collection
  • Day-to-day maintenance and repairs services
  • Optimized rental value 
  • Routine property inspections and evaluations
  • In-house legal compliance and eviction procedures in place

With Del Condominium Rentals, you can rest assured that you always get your rent on time. And, if any problems do arise, our in-house paralegal team can help mitigate potential problems before they escalate. If you’re ready to find out more about how you can maximize the profits and potential of your property, please contact us today by calling 647-952-3644 or drop us an email at sales@delrentals.com to learn more about the services we offer.

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3 Reasons Why Tenant Screening Is So Important

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Tenant screening is a crucial part of the leasing process that’s often overlooked by private landlords. A thorough screening process ensures that the potential tenants are reliable and suitable for the tenancy. 

Without proper screening, landlords run the risk of allowing poor quality tenants to live in their property. This can lead to serious issues further down the line. It’s in a landlord’s best interest to implement a thorough tenant screening process. 

As Toronto’s leading property management company, here are a few reasons why proper tenant screening can make all the difference.

1. Avoid Late Rent Payments

The primary prerequisite for a tenant is that they pay their rent in full and on time. Chasing tenants for late rent payments can be time-consuming and stressful, especially if you’re a busy professional or have a family.

Rent issues almost always result in evictions, which can end up costing you a significant amount of time and money in legal fees. This entire process is avoidable if you focus on implementing a strict tenant screening process.

What does a good tenant screening process look like? A good tenant screening process will look into the tenant’s financial situation in detail to determine how reliable they will be when it comes to paying the monthly rent. Details such as monthly income, credit score, and job security of the tenant or the tenant’s guarantor will all be taken into consideration. These are only a few of the things we look at when assessing the quality of a tenant.

By assessing this data, a professional screening service will then inform you of the various financial risks involved with each potential tenant. 

2. Keep Your Property in Good Condition

Rental properties are inevitably subject to wear and tear. Between tenancies, there are usually general repairs that need to be done. However, in some cases, you will find that your tenants have left the property in exceptionally poor conditions. This damage may appear as carpet stains, holes in the walls, broken appliances, or something else.

To avoid this kind of unwelcome surprise at the end of a tenancy, we recommend working with a property management company. It can make all the difference and ensure the potential tenant will be clean and respectful of your property.

3. Protect Your Reputation

Your rental condo is located in a building with several other condo owners. You run the risk of jeopardizing your reputation with the other occupants if you rent your unit to an unfavorable tenant. Other tenants in the building will be affected by a poor quality neighbor and may even report you to your condo board.

A poor quality tenant may also cause turnover in the building, which could result in extra marketing fees on your end. You may also find that it becomes more and more difficult to find new tenants to take over other units in the building. Most tenants do their research about a building before moving in. If you have a bad reputation of allowing unsociable people to live in the building, new tenants may avoid your building.

Keep everyone in the building content by ensuring new tenants are neighborly. The tenant screening process will help to weed out particularly unsociable tenants. Through a rigorous interview process along with a reference check, the screening process can predict how your tenants are likely to act once they’ve settled in. 

Del Condominium Rentals: We Are Tenant Screening Experts

Here at Del Condominium Rentals, we have decades of experience managing condominium properties on behalf of private landlords. With more than 2500 units under our care, we are one of the most trusted property management companies in the GTA.

By choosing Del Condominium, you will have access to our superb tenant screening process. Our thorough and fair screening process ensures that we find you favorable tenants for your unit. There’s no need to worry about late payments, property damage, or disgruntled neighbors ever again. 

We also offer our clients a range of other services, including:

  • Marketing service that lists your unit with professional photos to potential occupants
  • A skilled accounting department that arranges rent collection and produces regular financial statements
  • An in-house paralegal team that takes on any legal disputes 
  • A wide network of professionals to handle maintenance and repairs quickly and efficiently

Our goal is to take care of all of the burdensome jobs that come with being a landlord. Let us deal with tenant screening, rent collection, and maintenance, while you sit back, relax, and wait for your monthly rent cheque.

Contact Del Condominium Rentals today by calling 647-952-3644 or drop us an email at sales@delrentals.com

Are You Interested in Working With Del Condominium Rentals?
Submit your info below to download FREE eBook and learn more about our services, management cost and more


The Ultimate Guide to Waterfront Toronto: The Best Areas to Own or Rent a Condo

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There’s something different about the Toronto waterfront area. Suburbs like Etobicoke, Mississauga, and Scarborough still feel very “Toronto,” but they all seem to have a little something extra. 

Real estate here ranges from impressive waterfront estates to charming bungalows that are part of the rich history of the city. But it’s the luxury high rise condos that bring the business travelers and the affluent vacationers to the water.

With all the artisan marketplaces, boat tours, waterfront parks, and miles of walking and biking trails, Waterfront Toronto is a vibrant community of art, culture, music, and outdoor recreation. If you’ve been looking for a luxury waterfront property in a modern yet authentic suburb, check out some of the most popular areas for luxury living and profitable real estate investments.

Etobicoke

Etobicoke is one of those areas that always feels like it’s growing but never feels overpopulated. It’s the perfect blend of natural beauty and modern amenities, known for its beautiful parks, open green spaces, and miles of hiking trails. Etobicoke is where you live if you want to experience the authentic country club lifestyle. The city is home to some of the area’s best golf courses too. Real estate in Etobicoke is mostly single-family detached homes, but there are also gorgeous condominium communities like Islington Terrace that add an element of luxury and style to the waterfront real estate market. South Etobicoke is close to downtown, making it a popular choice for busy professionals who want to be close to Toronto’s bustling financial district. 

Something to try when you’re in Etobicoke

Eden Trattoria. This impressive Italian restaurant, part of the Toronto waterfront for 20 years, specializes in Italian cuisine that tastes like it came straight out of an Italian kitchen. You can find locals gathered here for cocktails on the patio or families popping in to make their own pizzas. This place is such an essential part of Toronto’s story that you’ll often find players from the Toronto Blue Jays, Maple Leafs, and Raptors enjoying dinner here.

Helpful tip: Etobicoke ranks as one of the hardest words to pronounce in Toronto. People often refer to it as “Etobee-COKE,” but the correct pronunciation is “Eetoe-Bee-Ko.” There, now you sound like a local. 

Mississauga

Mississauga ranks as one of Toronto’s fastest-growing and safest cities. This ever-evolving suburb feels like many different cities all in one. 

The Streetsville area is known for its highly anticipated street festivals each year, and there’s Port Credit, home to stunning high rises like Parkside Village that overlook the Mississauga skyline. 

Each neighborhood within Mississauga has its own style and personality. Meadowvale is a peaceful, natural retreat away from the lights and traffic of the City Centre, and the Erin Mills suburb is a popular option for families that want easy access to local amenities but still appreciate their space. 

Locals describe Mississauga as a diverse and busy hotspot for working professionals, especially those who like to be close to local sporting events, live music performances, and entertainment.

Something to try when you’re in Mississauga

Holy Smokez BBQ. This little hole-in-the-wall restaurant is in an unassuming shopping center. It’s commonly overlooked by tourists, but locals are okay with that. This no-frills southern BBQ joint serves creamy mac and cheese, fall-off-the-bone ribs, smoked meat sandwiches, and all of your favorite comfort foods. They’ve got different daily specials and even offer catering. Mississauga locals love this place. 

Helpful tip: Again, not the easiest city in Toronto to pronounce. It doesn’t necessarily roll off the tongue. The correct way to pronounce it is “Miss-A-Sawg-A.” 

Scarborough

Scarborough is a multicultural melting pot. It is home to people from different countries, ethnicities, and backgrounds. Its surprisingly affordable real estate, easy access to public transit, and gorgeous natural landmarks like the Scarborough bluffs make it an excellent option for those starting a new life in Toronto. 

Scarborough is colorful and charming but sometimes feels like the “forgotten middle child” of Toronto’s neighborhoods. The community within Scarborough is tight-knit and takes care of one another. The countless options for outdoor recreation make it a peaceful getaway from the busier Toronto cities. 

The real estate in Scarborough is as diverse as the people who live here, ranging from multi-million dollar homes near Unionville High School to ranch-style homes that have been part of Scarborough’s story since the ’60s. You can also find luxury condos in Tidel-built communities like Mondeo Springs and Markham Place II. 

Something to try when you’re in Scarborough

Bluffer’s Park Restaurant. This restaurant redefines waterfront dining. They pride themselves on buying only locally sourced ingredients and offer a breathtaking dining venue in the middle of Bluffers Park Marina. They’ve got an impressive brunch menu and wine list too. The floor-to-ceiling windows overlooking the water create a peaceful, ambient place to enjoy cocktails at sunset, a business lunch, or a family dinner on the water. 

Helpful tip: Transit in Toronto costs around $3 per trip. Taking Uber or other rideshare services for a standard trip ranges from $10-$20 depending on distance and whether you share the ride.

Midtown

Midtown may not be near the waterfront, but it’s still an excellent location for both professionals and families. With easy access to Downtown Toronto, it has its fair share of public parks and playgrounds, public and private schools, local shops, tennis clubs, and countless entertainment amenities to keep locals busy all year long. 

Midtown is eclectic and artsy, and its location is convenient for students who attend the University of Toronto. On any given day, you can attend wine tastings, take a yoga or art class, bike down the Moore Park Ravine, enjoy drinks with friends in the Village of Yorkville Park, or take a tour of Casa Lama, Canada’s majestic castle and one of Toronto’s most famous landmarks. 

Each neighborhood within Midtown has its own personality. You can find luxury high rises like the Republic in the Yonge and Eglinton area, gorgeous million-dollar estates in Rosedale, and historic homes in Davisville Village. 

Something to try when you’re in Midtown

Joso’s. The first thing you’ll notice about Joso’s is the way the greenery creeps up the entire outside walls, combining nature with classic Toronto architecture. Inside, small tables are placed close together under simple string lights, and well-dressed waiters help you navigate the expansive menu. Locals love the impressively plated fish dishes and the bowls of pasta that seem to go on forever. For a romantic date night, locals love Joso’s.

Helpful tip: Shopping is top-notch in Midtown. You could spend the whole day browsing shops and still not see all of the charming sidewalk boutiques and high-end shopping venues in Midtown. If you’re looking for something larger, try the Toronto Eaton Centre. If you want something a little more unique, try either the Lawrence or Kensington Markets.  

Things To Do on the Waterfront

People living in Toronto’s Waterfront District enjoy events and activities all year long designed to bring the community together. During the warmer months, locals stroll the boardwalk, picnic on Toronto Island, or schedule boat tours for a fun day out on the water. 

Here are just a few things you can do on or near Lake Ontario:

  • The Martin Goodman trail, 22 km of scenic paths along the waterfront, is a popular place for walkers and bikers who want to stay active and enjoy the breathtaking views of the water. 
  • The Harbourfront Centre has been a Toronto landmark for more than 30 years. Locals and tourists gather here to celebrate not only Canadian culture but also the melting pot of cultures that make Toronto the diverse place it is today. It is a non-profit cultural organization that offers innovative programming for all ages in art, music, culture, education, and recreation. You can watch an educational lecture, take an art class, sign up for coffee or wine tasting, or browse the immersive visual art exhibit. 
  • The Rogers Centre is home to the Toronto Blue Jays and is the go-to spot for sports enthusiasts in Toronto. With over 53,000 seats, it is also one of the best places in Canada to see your favorite musicians put on a concert.
  • High Park is Toronto’s biggest public park and provides acres of hiking trails, natural vegetation, outdoor recreational opportunities, a dog park, a zoo, and a gorgeous lakefront that’s perfect for picnics. Public transit runs right into High Park from most of Toronto’s neighboring cities, making it easy to get here, spend the day, and get back home without dealing with rush hour traffic. The free mini-zoo features a handful of exotic animals. There are also sports courts and fields throughout the park, as well as an outdoor swimming pool open in the summer and a skating rink in the winter. High Park is also home to The Jamie Bell Adventure Park, one of Ontario’s largest outdoor playgrounds. 
  • The Budweiser Stage is a popular venue for A-list concerts and events. This modern amphitheatre is located right on the water and close to local restaurants and bars, making it easy to grab dinner and drinks before a show. The top names in country, rock, pop, and alternative almost always stop at Budweiser Stage during their time in Toronto.

Waterfront Toronto in Ten Years

Investing in Toronto is an investment in the future. Since the 1950s, Toronto has dramatically evolved in every way: physically, politically, economically, socially, and culturally. What was once an industrial hub is now a multicultural hotspot, the financial capital of the country, and a home to over 230 unique neighborhoods that all have something for everyone. The Waterfront District is no different. This affluent area continues to see upgrades and improvements that draw families, students, professionals, and retirees to the water. 

While nothing is set in stone, some things you can expect to see change within Toronto and the Waterfront District include:

  • Improved transit. While Toronto’s public transit system currently consists of a subway system, streetcar lines, and bus routes across the city, more options will make it easier for people to get to and from Downtown, Yonge, and the Waterfront. 
  • The PATH system. This underground system of pedestrian tunnels and elevated walkways make it safer and easier for Toronto residents to get across some of the city’s busiest streets. Planners are considering future PATH development and linking construction to the basement levels of key new buildings.

Owning Property in the Waterfront District

Toronto’s Waterfront District is a vibrant, eclectic, and growing part of the city. Investors purchase property in luxury towers on the waterfront to expand their investment portfolio and have a place to call home when they’re passing through Toronto. Condo owners who don’t use their condos as their primary residence choose experienced property management companies to take care of their properties when they aren’t around.

Del Condominium Rentals is a full-service property management company in Toronto, specializing in high rise condos on the waterfront. Their in-house legal team and extensive network of professional contractors make them the leader in Toronto property management. 

Owners can reap the benefits of owning property in one of Toronto’s most affluent suburbs without worrying about taking care of the day-to-day responsibilities that come with it. 

If you are interested in working with Del Condominium Rentals, please call us today at 647-952-3644 or email us at sales@delrentals.com

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The Ultimate 2020 Landlord Checklist for Ontario Property Owners

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Whether you’re a first-time landlord or a seasoned professional, the rental industry is constantly shifting and evolving. This year, you can expect to see rental trends moving faster than ever. In order to stay competitive as an Ontario landlord, make sure you tick everything off an up-to-date to-do list. 

Here’s our ultimate 2020 landlord checklist. Ontario property owners have a lot to consider, so we’ve listed all of the important details you will need to consider this year. Remember, many of these details are regulated by Ontario laws – make sure you familiarise yourself with the most recent legalities.

Marketing The Property

The first stage of renting out the unit will be to market the property to potential tenants. In order to appeal to the best tenants, you will need to have an idea of the following:

Rental Rate

Decide on a competitive rental rate based on trends in your area. Know when rent will be due, and how you will deal with late payments.

Utilities

Decide whether your rent rate will include all or some monthly utility bills. 

Term of Tenancy

How long will the tenancy last? What will the process be for extending the tenancy? How much notice will your tenants need to give if they wish to terminate the tenancy?

Security Deposit

As an Ontario landlord, you are restricted by law from asking for a security deposit. Make sure you understand the legal ramifications of demanding refundable deposits before including them in your marketing material.

Pet Rules

Decide on whether your property allows pets, and if it does, which ones. Again, be sure to familiarise yourself with regulations regarding domesticated animals in condominiums.

Parking, Laundry, and Other Amenities

Include information about the amenities included in your property. This is your chance to make your property shine. Sell the property by listing its various amenities. 

Your Role During Tenancy

You will need to prepare for the following things during your tenants’ occupation:

Access To The Unit

Understand your legal rights and limitations regarding access to the unit. Once your tenants have moved in, you will not be allowed to enter without permission or prior notice. It’s important that you keep an eye on the state of the unit, so plan your visits in advance to avoid legal problems.

General Maintenance

As the property owner, general maintenance will be your responsibility. Keep track of general repairs that are likely to be needed throughout the year, and follow provincial guidelines regarding rental property safety, including fire drills and alarm tests.

Emergency Maintenance and Repairs

You will also be responsible for emergencies. Draw up a list of local 24-hour service companies for any eventuality. When you receive a frantic call at 2 AM, you will be grateful for your list!

Prepare For Disputes

Inevitably, legal disputes will arise in some cases. Do your research and prepare for common landlord disputes. In doing so, you may avoid some of these disputes altogether.

The End of the Tenancy

Extra administrative work tends to fall in your lap upon tenancy termination:

Notice Period

Keep track of your tenants’ notice periods. This way, you will avoid any surprises, and you can prepare to re-market the unit if necessary.

Inspection

Decide on when your end of tenancy inspection will take place. Make a detailed checklist of which items in the unit you wish to inspect. Come prepared to ensure you know exactly what damage and wear the unit has sustained. 

Eviction 

In the unfortunate case of eviction, familiarise yourself with legal requirements and rules regarding when eviction is allowed. If necessary, enlist professional help to ensure you evict your tenants in the appropriate manner.

Put Your Trust In Property Management Company Del Condominium Rentals

As you can see, there are a myriad of things to consider when preparing to rent out an apartment in Ontario. The job doesn’t stop once the tenancy begins. In fact, your duties will likely multiply as your tenants settle in. Not to mention the plethora of complex legal considerations that you will need to wrap your head around.

But, there’s no reason to get overwhelmed by the job. Del Condominium Rentals can simplify the landlord process for you. As Toronto’s leading property management company, we provide a wide range of services. 

The Del Condominium Rentals team will market your property, deal with your tenants’ concerns, and handle the tenancy termination. Our expert team will take care of every single detail, including:

  • Thorough tenant screening
  • 24-hour professional maintenance 
  • Excellent tenancy agreements
  • A knowledgeable legal team to deal with disputes and to ensure you are following regulations
  • Necessary repairs to increase the value of your property

If you’d like to make the most of your condominium, without all of the hassle and stress, Del Condominium Rentals is here to help. Give us a call at 647-952-3644 or email us at sales@delrentals.com to get started.

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How Working With a Professional Property Management Company Can Minimize Your Risk

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Professional property management company

Starting out as a new landlord is both exciting and terrifying in equal parts. There’s plenty to look forward to, but there’s also lots to learn. As any successful landlord knows, the venture comes with lots of potential risks. 

Before you start marketing your units and signing lease agreements, it’s crucial that you do some research on ways you can minimize risk from the outset. The best way to reduce risk is to pass on the bulk of the workload to a professional property management company. 

This article will explain why choosing to use a property management company will not only minimize risk, but will also maximize profit.

What are the Biggest Risks for Landlords?

Here are a few of the biggest risks for condominium landlords. Most of these risks can be mitigated by enlisting the help of a property management company. By taking on the vast majority of the landlord’s managerial duties, these companies can lighten the load and reduce your personal risk.

Poor Quality Tenants

Poor tenants are one of the worst risks for landlords. If you end up with irresponsible tenants, you run the risk of serious property damage, unpaid rent, and unhappy neighbors. Bad tenants can cost you money. 

Whether they create the need for expensive repairs, or they vacate the premises before the term of lease leaving it vacant, you will notice the financial impact of poor quality tenants quickly.

With a Property Management Company

By using a professional property management company, you will greatly reduce your own risk of accidentally letting poor tenants into your property. Professional companies can provide thorough tenant screening processes that you, as an individual, will not have access to. Most property management companies will be able to check the credit score, references, criminal history, and proof of income for every potential tenant. 

Liability

Being a landlord in Ontario means following the regulations set out in the RTA (Residential Tenancies Act). If you fail to provide safe, modernized living conditions, for instance, you will be liable and subject to fines or even jail time. Many landlords struggle to wrap their heads around the complex tenancy legalities set out in the RTA. This puts them at risk of liable, as well as at risk of not knowing their own rights as landlords.

With a Property Management Company

Most property management companies have experienced legal teams who can provide in-depth advice and assistance with any legal disputes. Plus, with this legal team, your chance of accidentally breaking any rules in the first place.

Property Depreciation 

Another major risk for landlords is that their property will lose value over time. Wear and tear alongside poor maintenance can quickly lead to extreme property deprecation. It’s crucial that your property does not lose too much value over time. However, as the sole property manager, it may prove difficult to arrange the necessary repairs required to keep your property value up.

With a Property Management Company

With the help of experienced property managers, property depreciation won’t be as big of a problem. Most property management companies will have the resources and knowledge to arrange the necessary repairs at the lowest price possible.

Lengthy Vacancies

Many landlords are shocked to discover the amount of time it takes to fill an empty property. The process of listing, marketing, and showing the unit can take weeks, if not months. Each week that the unit remains unoccupied is money lost. As the only person arranging viewings and drawing up lease agreements, it’s inevitable that your property will experience longer periods of vacancy than necessary.

With a Property Management Company

A property management company will market and show the property for you. With extensive resources, the company will be able to reach a much wider audience, increasing your chances of leasing the property in a timely fashion.

Choosing Del Condominium Rentals for Your Property Management Solutions

We are a dedicated and experienced team of professional property managers that can take the burden of property management off your shoulders. Not only will our team make your life a whole lot easier, but we will also greatly reduce your risks as a landlord. 

At Del Condominium Rentals, we take care of all of the difficult parts of your job. So, treat your property as an investment, sit back, and let us do the hard management work.

Here are just a few of the services we provide:

  • Rigorous tenant screening
  • Rent collection
  • 24/7 maintenance and repairs
  • Access to an in-house paralegal team for drafting notices and in the case of disputes
  • Eviction processing
  • Expert unit inspections
  • And more!

To find out more about our wide range of services and how they can help you, contact us today by calling 647-952-3644 or email us at sales@delrentals.com

Are You Interested in Working With Del Condominium Rentals?
Submit your info below to download FREE eBook and learn more about our services, management cost and more


About Del Condominium Rentals

Del Condominium Rentals (DCR) is a full service rental management company. For more information about our program and how to have your suite professionally managed, please contact our Head Office at 416-296-7368 or email us at info@delrentals.com

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