Del Condominium Rentals

Toronto Condo Rentals and Property Management Blog

Are Property Management Companies Worth It?

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Property Management

Owning a property is a huge risk financially, especially when you decide to rent it out to a tenant. There are many codes property owners must follow. Other tasks like finding tenants, maintaining the property, and communicating with them take a significant amount of time.

Some property owners will try to manage things by themselves in an attempt to save money. But they quickly learn how time-consuming it is to be a landlord.

You likely have a few questions if you’re a property owner. Do these sound familiar?

  • Does it make sense to hire a property management company?
  • Are the management fees expensive?
  • What does a property management company actually do?
  • Can I still make money on my property if I’m paying someone to manage it?

Let’s dive into that and see why a property management company is the best way to protect your investment.

They Save You Money

Property owners are renting out their property to do one thing – make money. And it can be very expensive to manage your own property.

It can become even more expensive when you decide not to hire a property management company because you will make mistakes, hire the wrong people, approve bad tenants, and waste time on completing jobs that a company can do more quickly.

Property management companies are able to do things quicker and better because they have experience handling the issues you’ll come across. They’ve been there before, they understand property bylaws, building upkeep, and everything that goes into managing a property.

By hiring a property management company to look after your property, you are saving yourself money in the long run.

They Save You Time

Renting out your property is going to take up time. Whether you like it or not, problems will pop up.

Tenants may call at any time with an urgent problem, and you’ll have to fix it. Staying on top of service requests, complaints, and other problems is challenging when you’re busy.

Other major tasks like lining up a new tenant and finding the right plumbers and electricians are equally as challenging.

Before you know it, your entire weekend will disappear. That’s why many property owners look into condo management companies in the first place.

Don’t spend unnecessary amounts of time on the management of your property. Let a company deal with the time and stress it takes to run your property properly.

They Simplify Tenant Screening

A property management company can do a better job of finding the right tenants. Don’t underestimate how important this step is.

Finding the right tenants really does make all the difference.

But what does this process really entail? A property management company will:

  • Handle credit checks
  • Market your property to their extensive list of renters
  • Help you get market rent for your condo
  • Determine which tenants are suitable for your property
  • Conduct all tenant interviews for you

Remember – a good tenant will cause little headaches and keep the property in great shape. A bad tenant can make all sorts of trouble with neighbours and cause you to spend time on repairs and cleaning.

Don’t risk getting a bad tenant by using an experienced property management company.

They Offer a Hassle-Free Service

Property management companies work with property owners and tenants each and every day – and they’ve been doing it for years.

They’ve been there before and are able to do things much quicker because of their vast experience. They will have in-house maintenance crews on hand to hire and can deal with small tenant issues that could become a hassle for you.

Property management companies make things easy for you because of the many resources they have available to them.

They Know the Law

There are many laws and codes that property owners have to abide by when owning and renting out their property.

Depending on the municipality – and the building your condo is in, if applicable – those rules will vary and not knowing your way around them could result in finding yourself in hot water.

Property management companies stay on top of the local bylaws and are familiar with building codes. Not only with they be knowledgeable in the proper eviction protocol, but they will be able to execute on these things in a smart, proper way that follows all of the rules.

Property owners can spend lots of time studying the codes related to their property, and we recommend all property owners becoming familiar with them. But leave the enforcement of all bylaws and codes up to an experienced property management company, so you know things are being done correctly.

They Help You Make More Money

Property management companies do more than just handle your property for you in an easy, hassle-free way – they make you more money on your property.

By working in the industry every day, they’ll know how to manage your property in a way that makes you the most money. From rental rates, saving you money on repairs, low tenant turnover, and more, property management companies are worth every penny.

Stop Managing Your Condo – Let Us Help You

Take a step back from managing your property and let the experienced and dedicated staff at Del Condominium Rentals help you. We pride ourselves on our customer service and knowledge of the changing industry.

Please contact us at 647-952-3644 or email sales@delrentals.com to learn more about how Del Condominium Rentals can help you.

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 Advantages of Working With the Best Property Management Company in Toronto

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Best Property Management Company in Toronto

Purchasing a rental property can be a lucrative and rewarding investment. Whether you’re a first-time landlord or you already own a number of properties, you will need to decide whether you want to manage the property yourself or find the best property management company in Toronto that will take care of the property and its tenants for you.

Being a good landlord can easily become a full-time job involving round-the-clock availability. That’s why most new landlords choose to hire a professional property manager. We’ve compiled five excellent reasons why opting to use our professional management company will save you time, hassle, and money in the long run.

  1. We Find High-Quality Tenants

As a landlord, you will find yourself saddled with a variety of time-consuming tasks, the first of which is to find suitable tenants to lease a condo in your property. Finding reliable tenants that you trust to rent your condo can take several weeks. And regardless of how discerning you may be, there is always the chance that the tenants you choose will miss rent due dates or damage the property.

If you make use of our property management services, you will no longer be responsible for finding good quality tenants. We market your property on our website, and all interested parties go through our rigorous tenant screening process to ensure your property is filled quickly and by reliable individuals.

  1. Ensure All Legal Requirements Are Met

There are many legal rules that all landlords are required to follow. These include laws relating to tenant rights and condo building bylaws. If you choose to take care of the condo by yourself, you may run into trouble when you attempt to obtain business licenses or evict troublesome tenants. In the best-case scenario, you find the legalities time-consuming, and in the worst-case scenario, you may find yourself with hefty fines to pay.

Avoid the stress and hassle of dealing with the myriad of landlord legalities by choosing a reliable property management company. A team of professionals will deal with any legal requirements you will need, so you can rest easy knowing your property is following all of the necessary rules and regulations as laid out in the Residential Tenancies Act.

  1. Receive Round the Clock Professional Maintenance for Your Tenants

The hassle of managing your own property doesn’t stop when you find your perfect tenants. Landlords are responsible for general maintenance and repairs of the property. While this may sound manageable, you would be amazed by how often emergencies arise in the middle of the night or when you’re jetting off on vacation.

Finding reliable, qualified repair companies can also prove to be a difficult and cumbersome task. Our property management company will deal with your tenants’ maintenance issues directly, so you won’t have to waste your precious weekend hours looking for a decent repairman.

Plus, we have established some excellent relationships with reliable companies that offer preferred rates on a range of services, so it’s likely you will save money as well as time when it comes to maintenance and repairs.

  1. Increase Your Property’s Equity Value

Using an external property management company can increase your property’s value over time. Because a property management company has the resources and expertise to assess and repair your property according to modern quality standards, your property’s value will rise each year.

We also have the knowledge to advise you in areas of your property that should be upgraded. Many condos lose their value over time because of their outdated kitchens or bathrooms. Our experts know exactly which fittings and cabinets will help your property regain a foothold in the market.

Finally, with our excellent tenant screening process, your condo will remain in excellent condition for the entirety of their tenancy.

  1. Highly-Competitive Rates

If you are still hesitant about choosing a property management company because of concerns about fees, you won’t need to worry about Del Condominium Rentals. Our highly competitive commission rate of just 6% means you will take home a significant portion of your tenants’ monthly rent.

About Del Condominium Rentals – Toronto’s Best Property Management Company

Managing your own condominium is a time-consuming and strenuous undertaking. That’s why we recommend enlisting the help of full-time professionals that will help to lighten the load. With a reliable property management company, you won’t have to worry about marketing your property, screening tenants, providing timely repairs, or maintaining the property’s value.

Del Condominium Rentals is one of the best property management companies in Toronto. With our highly qualified team of property managers, your property and its tenants will be in excellent hands 24 hours a day, seven days a week, while you will be free from all burdensome landlord duties and worries.

For more information about our services, please do not hesitate to contact us. You can connect with one of our agents by calling 647-952-3644 or emailing 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


The 7 Best Property Management Companies in Toronto and the GTA

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Condo Management Company

Condo Management Company

More and more landlords are turning to property management companies to help them manage their properties. Toronto’s rapid growth has made it a desirable location for investors looking to cash in on our city’s hot real estate market.

Today – there are more properties for rent and a legitimate need for property management companies.

Property owners use property management companies to reduce their workload while still making money from a rental property. These companies take care of tenant relations, collection of rent, general upkeep and maintenance, dealing with complaints, enforcing evictions, and much more.

We’ve created a list detailing the best property management companies in Toronto and the GTA.

  1. Del Condominium Rentals

Del Condominium Rentals formed in 1986 to address the growing needs of property owners.

Since then – Del has cemented itself as the gold standard of what a property management company should look like.

The company offers competitive pricing, a large portfolio of units, and understands the local market.

Del Condominium Rentals has the highest Google Review rating for this industry in the GTA. The company prides themselves on the satisfaction of property owners who have put their trust in them.

Del Condominium Services offers:

  • 24/7 management for your condo
  • Comprehensive insurance that can replace your existing home insurance policy
  • Competitive pricing on maintenance and repairs
  • Access to a large network of renters
  • Extensive knowledge about condo rent prices
  • Complete management of your tenants and their needs
  • An experienced legal team that will handle all disputes

  1. Firstservice Residential

Firstservice Residential offers high rise property management across Ontario. They provide a tailored service to their clients that includes the following services:

  • Maintaining common areas in buildings
  • Visitor management systems
  • Valet services outside building
  • All routine maintenance and repairs

FirstService has offices throughout North America, and their Ontario office is located in Mississauga.

  1. Crossbridge Condominium Services

Brookfield Condominium Services became Crossbridge Condominium Services in 2017. They have 40 years of experience, oversee 170 buildings in the GTA, and manage 80,000 units.

They are dedicated to making the condo living experience the best it can be. Don’t let their low Google Review rating fool you. They work hard to deliver consistent results.

Crossbridge Condominium Services has over 200 property managers and 160 admin staff members working for them.

  1. Maple Ridge Community Management

Maple Ridge Community Management is located in Mississauga and has been in business for over 30 years.

They manage a variety of buildings (new and old) and emphasize providing exceptional tenant services.

Maple Ridge manages over 80,000 condominium units in Ontario in cities like Whitby, Burlington, Gravenhurst, Toronto, and more.

  1. Wilson Blanchard

Wilson Blanchard is a company that is experienced in building and property maintenance that specializes in the following:

  • Building maintenance and housekeeping
  • Landscaping and exterior property maintenance
  • Staff supervision and admin work
  • Insurance claims and disaster recovery

Wilson Blanchard can fully manage your condominium to ensure you make the most out of your property.

  1. Performance Property Management

Minimize your stress and maximize your investment with Performance Property Management in Toronto. They specialize in leasing, property management, and investment consulting. They focus on tenant services and embrace the evolving property management industry in the GTA.

This company is relatively new (founded in 2010), but they offer a modern service for property managers.

  1. Royal York Property Management

Royal York Property Management was established in 2010 and services Toronto. The company emphasizes its ability to provide high-quality building maintenance and related services. They also work on the following items with property owners:

  • Tenant screening
  • Rent collection
  • Property assessments to check for damages
  • Financial reporting

Royal York Property Management is another company that provides reliable property management services to condo owners in Toronto.

Hire a Property Management Company in Toronto

Are you ready to simplify the condo management process? A property management company can help you make the most out of your property.

Condo management companies stay on top of the latest developments in the industry, have a team of experienced professionals, and can handle everything related to your property and its tenants.

Del Condominium Rentals is the highest-rated and best property management company in Toronto.

What are you waiting for? Get in touch with our team today.

Call Del Condominium Rentals at 647-952-3644 or email sales@delrentals.com to learn more about how we can help you with your condo.

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 647-952-3644 or email us at sales@delrentals.com

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