Del Condominium Rentals

Toronto Condo Rentals and Property Management Blog

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.

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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.

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 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.

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


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


An Introduction to Our Legal Department

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Legal Department

It’s rare to find a property management company that has an in-house legal department to help settle minor disputes tenants and landlords may have.

At Del Condominium Rentals, we add value to your property management by keeping all services in-house, so there are no concerns about delays, miscommunications, or confidentiality.

One of our in-house services includes our legal department, which is comprised of paralegals proficient in landlord-tenant and condominium law. This blog post will provide you with some insight on what our paralegals do and how they work to provide our clients with the best experience possible.

What Is a Paralegal?

In Ontario, paralegals are legal professionals licensed and regulated by the Law Society of Ontario—just like lawyers. Paralegals have the required education and experience to represent clients and provide legal services in specific areas of law, such as small claims court, traffic court, tribunal work, and minor criminal matters.

For landlords, this is an incredibly valuable asset to have access to when working with a property management company. It’s not uncommon for disputes to arise between tenants and their landlord.

Having access to reliable legal services can help diffuse difficult situations and ensure that the terms of your lease are being enforced to protect both parties.

What Are the Benefits of Using a Paralegal?

Paralegals are just as competent, educated, and knowledgeable as any other legal service provider, as they have specific legal training for the areas of law in which they represent their clients. Paralegal education programs are specifically developed to provide both practical and theoretical training to students. These programs are constantly updated and improved to ensure that the curriculum keeps up with industry standards.

Paralegals are often seen as a pillar of access to justice, as they are a relatively more affordable alternative to traditional lawyer representation. Many property management companies, such as Del Condominium Rentals, are using paralegals for their day-to-day legal services in specific areas, due to their specialized skills and affordability, and as an ultimate benefit to their clientele.

What Do Our Paralegal Services Include?

Our paralegal team aims to ensure that our company, along with our unit owners and tenants, comply with their respective rights and obligations under the Residential Tenancies Act, 2006 (the “RTA”), the Condominium Act, 1998, as well as the respective condominium corporation’s declaration, by-laws, and rules.

Keeping track of all of these regulations and how they interact with each other is complicated if you’re not versed in legalese and the justice system as a whole.

Some of the day-to-day tasks of our paralegal team include:

  • Liaising with condominium management teams regarding tenant complaints
  • Sending compliance letters to tenants
  • Rent collections
  • Drafting and sending various legal notices under the RTA
  • Preparing for and attending Landlord and Tenant Board hearings
  • Judgment enforcement
  • Accompanying unit inspections
  • Processing and attending evictions
  • Providing inter-department training regarding landlord-tenant and condominium law

As an added benefit to our property management services, our legal department will be hosting seminars for unit owners in the new year regarding landlord-tenant rights and obligations.

If you are currently a unit owner on our program, look out for the invitation in your email inbox coming soon!

Are you a condo owner looking to hire a property management company to look after your unit? Get in touch with the Del Condominium Rentals team today to see the difference we can make. You can get in touch with us at 647-952-3644 or by 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


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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