How much does property management cost?
We offer personalized management packages to suit all of your needs. For our full pricing information, click here.
How much is your tenant placement service without property management?
Our rate is only 75% of one month’s rent if subscribed to our property management services. We also offer significant savings if you have more than one property.
Do I really need a property manager or can I do this myself?
You can definitely do everything we can. But what is your time worth? Here are some of the key reasons many people choose professional management over DIY-management:
1. Monthly on time rent collection and direct deposit to owner bank account
2. Move In & Move Out inspections
3. 24/7 emergency service
4. Coordinating tenants requests
5. Handling city warnings
6. Assist hearing process against troublesome tenants
7. Knowledge of Residential Tenancy Act to avoid costly mistakes
8. Professional Realtors who monitor Hamilton’s market 365 days a year to maximize your rent
9. Access to some of the best prices and property services
10. Freedom from record keeping and landlording
11. Save travel and worry time
Who signs the lease when a tenant moves in?
The lease for residential property is an agreement between Spotted Properties Inc as the landlord and the tenant. You will sign a Management Agreement giving Spotted Properties Inc the authority to act on your behalf as the landlord. The tenants will not have access to your personal contact information A signed copy of the lease will be emailed to you for your records.
For leasing only services provided by Spotted Properties, the lease will be signed by the owner and the tenant.
How do you collect rents?
Spotted Properties collects first and last month’s rent cheques in certified funds. We encourage tenants to set up pre-authorized debit for recurring monthly rent payments but also give them the option to pay through e-transfer and post-dated cheques.
When and how do I get my rental payments?
We disburse the collected rents minus any expenses and our monthly management fee to clients on or before the 11th day of the month.
What types of properties do you manage?
Spotted Properties manages student rentals, single-family home, multi-unit properties and commercial units.
What types of financial reports do I get and how often?
Owners are provided a complete accounting report 1st day of every month and an annual accounting report. Reports are sent electronically through email.
Will I have to pay for property repairs?
Yes. As the owner of the property you are still responsible for maintaining the property. There are several advantages of allowing us to coordinate the repair of the maintenance issues. We have the capability of negotiating with vendors for discount prices based on volume. These savings are passed directly on to you. We also provide 24/7 on call emergency service for those late night repairs that just cannot wait until business hours.
Is the cost of property management tax deductible?
Yes. The cost of our management services are deductible, just like your mortgage interest and property taxes. Please see your tax advisor for details.