Dylan YoungRenting out your property sounds nice—steady cash flow without lifting a finger. That is until you encounter issues like unruly tenants, unexpected maintenance, and an uncertain rental market.
Thankfully, there are pros who can help: property managers. These experts handle all the annoying stuff, from property maintenance to screening tenants, to ensure your property remains a stress-free source of income.
To make things a bit easier for you, I’ve researched and compiled the best local property management firms.
How much are property management fees in Toronto?
Most property management companies in Toronto typically charge a fee of approximately 8% of the annual rental revenue for their services.
However, this fee can vary depending on the type of property and the services provided.
How We Chose
1. Property Management Toronto
Services offered: Tenant selection, rent collection, maintenance and repairs, real estate consulting, financial reporting, and more
Address: 457 Richmond St W Unit 100
Phone number: +1 416-451-9499
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
With over 25 years of experience, Property Management Toronto is certainly no rookie in the industry. They can help you with tenant selection, rent collection, property maintenance, and more.
One thing that caught my eye is their expertise in managing unique properties. They provide customized marketing and management strategies for historic mansions and luxurious waterfront estates.
Furthermore, they provide 24/7 support for emergencies related to property maintenance. It’s also good that they have a rent guarantee, which ensures that property owners still get paid on time even if the tenant defaults or refuses to pay.
However, it seems there are some troubling reports of them having poor communication. They sometimes miss responding to enquiries and concerns from their clients.
“Peace of mind” is how we feel working with PMT
“”Peace of mind” is how we feel working with PMT – be it their sales, client relationship or offers team. Their vetting processes are stringent, their team is responsive and we always get a feeling that they work as partners with us, and have our best interest in mind. I highly recommend this firm to anyone who wants to become a landlord without the hassles of being one.”
-Ashwini Vasudevan, Google Reviews
Working with PMT has been so simple
“Working with PMT has been so simple. Alexis on their team has been beyond incredible to work with. She’s on the ball, organized, punctual, caring and simply amazing. Without her this move would have been a lot more difficult and time consuming. Alexis, we appreciate you!”
-Brian Penacho, Google Reviews
2. Buttonwood Property Management
Services offered: Tenant selection, property inspection, rent collection, tenant dispute resolution, and more
Address: 2 St Clair Ave W 18th Floor
Phone number: +1 416-835-7191
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
Buttonwood Property Management is an established company with more than a decade of experience in the industry. They offer a robust list of services that includes property inspection, rent collection, and tenant dispute resolution.
What I appreciate most about their services is the affordability. They offer a price match guarantee to ensure their clients get favourable fees.
Additionally, they provide free tenant placement with a property management contract and waive management fees for the first two months for already tenanted properties.
They also have a rent guarantee program, so missing out on revenue because a tenant defaulted won’t be an issue.
However, their small team of less than 15 people can sometimes lead to slower response times when addressing property maintenance issues.
I confidently recommend Buttonwood to prospective landlords
“I had the pleasure to work with Buttonwood property management for about 3 years. Sabine and her team were competent, honest and pleasant to deal with. I had a difficult tenant and they had the patience to deal with complex issues. I confidently recommend Buttonwood to prospective landlords”
-Adam A, Google Reviews
They knew the market and how to best advertise to tenants
“Buttonwood has been great helping me with my first investment. They knew the market and how to best advertise to tenants. Throughout the process they have been responsive and offered solid advice.”
-Richard Wells, Google Reviews
3. LandLord Property & Rental Management Inc.
Services offered: Tenant screening, rent collection, property maintenance, non-resident tax support, financial reporting, and more
Address: 515 Logan Ave
Phone number: +1 416-462-3800
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
LandLord Property & Rental Management Inc. has over 30 years of experience assisting property owners and tenants in the GTA. They offer services like tenant screening, rent collection, and property maintenance.
A key service they provide is comprehensive support for non-resident landlords. They have a dedicated team to ensure these landlords are always compliant with Canada’s tax legislation and are on time in filing their rental income taxes.
I’m also quite impressed that they offer design-build services. They can plan and coordinate construction efforts to transform single-family homes into profitable multi-unit rental properties.
Sadly, I find their fees to be slightly higher than the average. It’s also disappointing that they charge additional fees for services most of their competitors already provide at no extra charge, like rent guarantees and property inspections.
Helped me get great tenants
“When I was looking to rent out my property, Trevor guided me through the entire process. His real estate expertise was invaluable, and he helped me get great tenants. LandLord is a professional team, and I’m really happy I chose them!”
-Livia Arruda Fernandes, Google Reviews
They’ve made the whole process easy
“LandLord has been managing my rental since I moved overseas, and they’ve made the whole process easy. They find good tenants, handle issues quickly, and keep me updated when needed.”
-Karen Pacheco, Google Reviews
4. Del Condominium Rentals Inc.
Services offered: Rent collection, property maintenance, tenant screening, financial reporting, and more
Address: 4800 Dufferin St, North York
Phone number: +1 416-296-7368
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
If you’re looking for a reliable partner to handle your condominiums, check out Del Condominium Rentals Inc. These guys have been around since 1986 and can assist you with rent collection, property maintenance, and more.
But what really makes them one of the best is their in-house legal team. These paralegals are well-versed in landlord-tenant laws, which helps resolve disputes effectively.
It’s also worth noting that they have online portals for both landlords and tenants. Here, clients can review payments, submit maintenance requests, and view financial statements.
Furthermore, they have a referral program that pays a hefty reward for every successful referral.
However, they have some issues I should mention. They sometimes miss enquiries and have staff members who show up late to their appointments.
Has done an impeccable job for me
“I have worked with Laurie Cellupica of Del Rentals for 2 units that I own. This is over a span of 5 years and both times Laurie has done an impeccable job for me. She has great experience in her job and most importantly has always been resourceful and efficient. I truly appreciate her work and would recommend her to any owners”
-Juliana Chan, Google Reviews
Has always been my go-to company for managing the rental units
“Del Condominium Rentals has always been my go-to company for managing the rental units. The agents have always been very kind, friendly, efficient and respond promptly, especially @Clair Whitelock, and thank Christina and Arthur too! Definitely they are someone to rely on when you come to dealing with rental issues!”
-Qun Guan, Google Reviews
5. VMH Properties
Services offered: Property marketing, tenant screening, rent collection, property maintenance, short-term rental management, and more
Address: 1 Dundas St W Suite 2500
Phone number: +1 416-684-9185
Business hours: 7:00 AM – 6:00 PM (MON-SUN)
For those who own several properties, my top recommendation is VMH Properties. They have over five years of experience and offer good discounts to clients who hire them to handle multiple properties.
Some of the services they provide include property marketing, tenant screening, and rent collection. They also provide 24/7 support to tackle any emergencies that may arise in any of your properties.
Another of their expertise worth mentioning is their short-term rental service. Owners of Airbnb homes can rely on them to optimize pricing and provide professional cleaning services to keep their properties presentable to guests.
However, it’s disappointing that they charge additional fees for most of their services, like rent payment guarantees and snow removal.
They have been a lifesaver
“I’ve been using VMH for 8 months now and they have been a lifesaver. Helped us with a very difficult tenant that took a lot of hand holding and care. Having a professional team looking after our property has been worth its weight in golf and has relieved a lot of stress. Thanks all!”
-Tim Wootton, Google Reviews
VMH Properties has been an absolute pleasure to work with!
“VMH Properties has been an absolute pleasure to work with! From the moment Max reached out, their professionalism and dedication have been evident. The team is incredibly responsive and always goes above and beyond to ensure property is taken care of. Their expertise in property management has made my experience seamless and stress-free. I highly recommend VMH Properties to anyone in need of top-notch property management services. Thank you, VMH Properties, for your outstanding service!”
-Taha Hussain, Google Reviews
