How Much Do Property Management Companies Charge in Toronto?

Property Management Fees in Toronto: The Quick Answers

• Property management fees in Toronto may be charged as a percentage of monthly rent or as a flat monthly fee.
• Percentage-based management fees commonly fall somewhere around 6% to 12% of monthly rent, although actual rates vary.
• Flat-rate management is also available, with the monthly fee remaining fixed rather than increasing with the property’s rent.
• PMT’s standard management currently starts at $109 per month plus HST, depending on property type.
• Tenant placement is frequently charged separately and can range from a portion of one month’s rent to a full month’s rent.
• Condos, houses, and multi-unit properties can have different management costs.
• Comparing what’s included is just as important as comparing the monthly price.
• Self-management avoids a monthly management fee, but landlords should still consider their time, maintenance, vacancy, administration, compliance, and the potential cost of mistakes.

For Toronto landlords considering professional property management, cost is often one of the biggest factors in deciding whether to hand over the day-to-day management of a rental property.

The reality is that there isn’t a single standard price for property management. Property management fees in Toronto can vary quite a bit depending on the company, the type of property, and the level of service involved.

Some property management companies charge a percentage of the monthly rent, commonly around 6% to 12%. Others charge a flat monthly fee. Landlords may even be asked to pay separate fees for tenant placement, leasing, maintenance, inspections, legal support, lease renewals, or other services depending on the company and management package.

At PMT, monthly management is structured as a flat fee based on the type of property. Current standard PMT management fees range from $109 to $179 per month plus HST, while PMT+ ranges from $149 to $209 per month plus HST.

The reality is, comparing property managers based on the headline monthly fee alone can be misleading. Let’s break it down:

How Much Are Property Management Fees in Toronto?

Property management fees in Toronto vary by company, property type and level of service. Percentage-based management fees commonly fall around 6% to 12% of monthly rent, while other companies—including PMT—use flat monthly pricing.

For a Toronto rental generating $3,000 per month, a percentage-based management fee could look like this:

Management Fee	Monthly Cost	Annual Cost
6%	$180	$2,160
8%	$240	$2,880
10%	$300	$3,600
12%	$360	$4,320

These figures represent the management fee before HST and don’t include tenant placement or other potential charges.

At PMT, property management fees in Toronto are structured as flat monthly rates based on property type:

Property Type	Standard Management	PMT+
Multi-unit homes	$109 + HST per door	$149 + HST per door
Condominiums	$119 + HST	$159 + HST
Houses	$179 + HST	$209 + HST

The difference isn’t just how the fee is calculated. What landlords receive for that fee—and which services cost extra—can have a much bigger impact on the overall value of a management package.

“A big part of what we’ve built at PMT is the infrastructure behind the management fee. We have our own team, established processes, 24/7 tenant support, and relationships with vendors we’ve worked with for years. The landlord isn’t paying us just to collect rent—they’re getting that entire system behind their property.”
 — Ahmed Heshmat, General Manager at PMT Property Management Services

How Do Property Management Companies Structure Their Fees?

Property management pricing generally falls into a few different categories. Understanding how each works—and when it applies—makes it easier to compare quotes based on total cost rather than the advertised monthly rate.

Percentage of Monthly Rent

Percentage-based pricing calculates the management fee using the property’s rental income. If a property rents for $2,800 per month and the management company charges 8%, the monthly management fee would be $224 before applicable taxes. At 10%, it would be $280.

One important question to ask is whether the percentage applies to rent collected or rent due. Some companies only charge their management percentage when rent is successfully collected.

Flat Monthly Fee

Flat-rate property management charges a predetermined monthly amount. For landlords, the primary advantage of this is predictability.

If rent increases from $2,800 to $3,100 per month, for example, a flat management fee doesn’t automatically increase with it. However, landlords still need to compare what each flat-rate package includes.

Tenant Placement or Leasing Fee

Finding a tenant is usually treated separately from managing an existing tenancy. Tenant placement can involve:

• Rental market analysis
• Preparing the property for listing
• Photography
• Advertising
• Property showings
• Applicant pre-screening
• Credit and background checks
• Employment and income verification
• Reference checks
• Lease preparation
• Move-in documentation

Across Toronto, publicly advertised tenant-placement fees vary. Some companies charge approximately half of one month’s rent, others charge 75%, and many charge a full month’s rent. PMT’s current Tenant Selection Fee is one month’s rent plus HST.

Percentage-Based vs. Flat-Rate Property Management Fees

Percentage-Based Management	Flat-Rate Management
Fee increases as rent increases	Monthly management cost stays predictable
Common in Toronto and Ontario	Also offered by several Toronto companies
Can be economical on lower-rent properties	Can become increasingly competitive on higher-rent properties
Often ranges around 6%–12%	Dollar amount varies by company and property
Easy to calculate	Easier to budget
Services vary by provider	Services vary by provider

Neither pricing model tells you whether a property manager is good – it only tells you how they calculate their fee.

Comparison: Toronto Property Management Companies Costs

To put numbers into context, we reviewed publicly advertised pricing from a selection of property management companies serving Toronto and the GTA.

Rates, packages, eligibility, service areas and inclusions can change, so this table is intended as a general comparison of publicly advertised pricing rather than a quote. Landlords should confirm current pricing and service inclusions directly with each provider.

Company	Published Monthly Management Fee	Published Tenant Placement Fee	Pricing Model
PMT	$109 multi-unit / $119 condo / $179 house + HST	1 month’s rent + HST	Flat rate
PMT+	$149 multi-unit / $159 condo / $209 house + HST	1 month’s rent + HST	Flat rate
Royal York – Gold	$99 multi-unit / $129 condo / $149 house; percentage pricing for larger buildings	Tenant placement available separately	Flat rate / percentage for larger properties
Northline Property Management	8% of rent collected	1 month’s rent; first placement promotion advertised	Percentage
Team West / Royal LePage West	6% of rent collected	1 month’s rent + HST	Percentage
Landlord Relief	Generally 7%–11%; most common structure stated as 8.33%	½ month’s rent	Percentage
Solved Property Management	Condo pricing advertised at $119/month	1 month’s rent	Flat rate
Spotted Properties	$125 condo / $175 single-family / $200 first multi-family unit + $50 additional units	75% of 1 month’s rent	Flat rate

PMT vs. Percentage-Based Property Management Fees

The difference between flat and percentage pricing becomes particularly noticeable as monthly rent increases.

Consider a Toronto condo managed under PMT’s standard $119 monthly condo rate.

Monthly Rent	PMT	6% Fee	8% Fee	10% Fee	12% Fee
$2,000	$119	$120	$160	$200	$240
$2,500	$119	$150	$200	$250	$300
$3,000	$119	$180	$240	$300	$360
$3,500	$119	$210	$280	$350	$420
$4,000	$119	$240	$320	$400	$480

Figures are illustrative monthly management costs before HST and exclude tenant placement and other potential fees.

• At $2,000 per month in rent, PMT’s $119 condo fee is essentially comparable to a 6% management fee.
• At $3,000 per month, 8% management would cost $240 per month compared with PMT’s $119 standard condo management fee.
• At $4,000 per month, a 10% management fee would be $400 per month.

The operational requirements of managing the property don’t necessarily double simply because one Toronto condo rents for more than another. This is one of the key distinctions between flat-rate and percentage-based management.

Over a full year, those differences can become more significant. For a condo generating $3,000 per month:

• PMT standard management: $1,428/year
• 6% management: $2,160/year
• 8% management: $2,880/year
• 10% management: $3,600/year
• 12% management: $4,320/year

Again, this isn’t a complete cost comparison because services and additional charges vary between companies. That said, it illustrates why landlords should pay attention to the pricing model rather than simply comparing advertised percentages.

“We don’t think a landlord should automatically pay more for management just because their property rents for more. A $4,000 condo doesn’t necessarily require twice the management work of a $2,000 condo, which is one of the reasons we’ve chosen a flat-rate model.”

— Ahmed Heshmat, General Manager at PMT Property Management Services

Do Property Management Fees Differ for Condos and Houses?

Property management fees definitely differ between property types – the reality is, a Toronto condo and a detached house can involve very different management responsibilities.

Condo Property Management

Managing an individual rental condominium may involve:

• Condo corporation rules and bylaws
• Building management communication
• Elevator reservations
• Key and fob management
• Move-in procedures
• Condo fees
• Building-specific requirements
• Determining whether a repair belongs to the landlord or condominium corporation

House Property Management

A detached or semi-detached rental may require more direct oversight of:

• Plumbing
• Electrical systems
• HVAC equipment
• Roofing
• Exterior areas
• Landscaping
• Snow removal arrangements
• Appliances
• Structural maintenance

This helps explain why PMT’s standard condo management is $119 per month while house management is $179.

How Are Multi-Unit Properties Priced?

Multi-unit properties introduce another layer of complexity because the property manager may be responsible for multiple tenancies within the same building.

That can mean multiple of the following:

• Rent payments
• Tenant relationships
• Maintenance requests
• Notices
• Inspections
• Lease renewals
• Move-ins and move-outs

Some companies therefore charge per unit or per door, while others use a percentage of the building’s rental income. PMT’s standard multi-unit management starts at $109 per door per month plus HST, while PMT+ starts at $149 per door.

Owners of larger apartment buildings, mixed-use properties, luxury rentals or properties with unusual requirements may require customized pricing.

What Is Usually Included in a Property Management Fee?

What’s included in a property management fee varies by company and service package. In general, the monthly fee covers the ongoing work required to manage the property and tenancy, which can include rent collection, tenant communication, maintenance coordination, inspections, financial reporting, emergency support, and tenancy administration.

While some of these responsibilities are routine, much of the value of professional management becomes apparent when a property or tenancy requires more hands-on attention.

“Good property management isn’t just collecting rent every month. The value really shows when something goes wrong—there’s a maintenance emergency, a tenant stops paying, a notice needs to be served, or a landlord needs someone to step in and manage the situation properly.”
— Ahmed Heshmat, General Manager at PMT Property Management Services

Rent Collection & Financial Administration

Rent collection is one of the central responsibilities of a property manager. Depending on the provider, management may include:

• Collecting monthly rent
• Following up on missed or late payments
• Depositing rental revenue
• Tracking income and expenses
• Providing monthly statements
• Preparing year-end reporting

PMT collects rent directly and provides monthly and annual revenue and expense reporting.

Tenant Communication

Managing a rental property also means managing an ongoing relationship with the tenant. Property managers can become the primary point of contact for:

• Routine questions
• Maintenance requests
• Noise complaints
• Payment issues
• Notices
• Property access
• Emergency situations

For landlords who don’t want to be personally available whenever a tenant has an issue, this can represent a substantial portion of the value of professional management.

Maintenance & Repairs

Rentals require ongoing property maintenance regardless of how carefully they’re managed. Property management can include receiving maintenance requests, troubleshooting issues, scheduling contractors, coordinating tenant access, obtaining quotes and following up on completed work.

Landlords should distinguish between maintenance coordination and the actual cost of the repair. The management fee may include coordinating the work, while contractor labour, materials and replacement parts remain property expenses.

Emergency Support

A burst pipe doesn’t wait for business hours, and neither does a failed furnace during a Toronto winter.

Some management companies provide 24/7 emergency support, allowing tenants to report urgent issues without contacting the landlord directly. PMT includes 24/7 on-call emergency repair service to tenants rather than contracting that function out.

Inspections

Depending on the package, management may include:

• Move-in inspections
• Move-out inspections
• Annual inspections
• Periodic property inspections

PMT’s standard service includes move-in and move-out inspections, while PMT+ includes annual inspections.

Notices & Tenancy Administration

Ontario rental housing is governed by the Residential Tenancies Act and related rules and procedures. Property managers may assist with the administrative side of:

• Notices of entry
• Late or unpaid rent
• Noise complaints
• Lease documentation
• Rent increases
• Tenancy records
• Other landlord and tenant matters

The exact scope varies by provider, so landlords should understand what is included and when separate legal or paralegal services may be required.

What Isn’t Usually Included in the Monthly Property Management Fee?

Even with full-service property management, landlords remain responsible for the underlying costs of owning and maintaining their rental property. Depending on the property and circumstances, these expenses may include:

• Contractor labour
• Repair materials and replacement parts
• Replacement appliances
• Major capital repairs or replacements
• Property taxes
• Condo fees
• Utilities
• Property insurance
• Legal or paralegal services
• Landlord and Tenant Board filing or enforcement costs
• Other property-specific expenses

The important distinction is that a property management fee generally pays for the administration, coordination and day-to-day operation of the rental property. It doesn’t mean the management company absorbs every expense the property generates.

Some management packages can, however, take over the administration of these expenses. For example, PMT Services+ includes payment of property taxes, monthly utilities and condo fees on the landlord’s behalf, while the underlying bills remain expenses of the property.

Understanding both what’s included and what’s not included gives landlords a much more accurate picture of their total property management cost. Landlords can review PMT’s complete property management fees and service inclusions or get in touch with PMT to discuss the level of management required for their property.

Are Leasing Fees Separate From Property Management Fees?

In most cases, tenant placement or leasing fees are charged separately from ongoing property management fees because they cover a different stage of the rental process.

A tenant placement fee typically covers the work required to secure a new tenant, which may include marketing the rental property, coordinating showings, screening applicants, conducting tenant credit and background checks, preparing the lease, and managing move-in documentation. Once the tenancy begins, the monthly property management fee covers the ongoing work of managing the property and tenant relationship.

Leasing fees also vary between Toronto property management companies. Some charge a portion of one month’s rent, while others charge a full month’s rent. This can make a meaningful difference to the total cost of property management, particularly during a year when a new tenant needs to be placed.

For example, consider a property renting for $3,000 per month:

• A tenant placement fee equal to 50% of one month’s rent would be $1,500
• A tenant placement fee equal to 75% of one month’s rent would be $2,250
• A tenant placement fee equal to one month’s rent would be $3,000

If the monthly management fee is $150, that adds another $1,800 per year in ongoing management costs. With a one-month tenant placement fee, the first-year cost would therefore be $4,800 before HST and any other applicable charges.

This is why landlords should compare the monthly management fee, tenant placement fee and services included rather than looking at the monthly rate alone. A lower management fee doesn’t necessarily result in a lower total cost if leasing or other services are priced separately. At PMT, tenant selection is separate from ongoing management and costs one month’s rent + HST.

Additional Property Management Fees

Depending on the management company and service package, landlords may encounter separate charges for:

• Tenant placement
• Setup or onboarding
• Lease renewals
• Rent increases
• Inspections
• Maintenance coordination
• Maintenance markups
• Emergency calls
• Landlord and Tenant Board matters
• Eviction support
• Legal or paralegal coordination
• Financial reporting
• Bill payments
• Property tax administration
• Condo-fee payments
• Non-resident tax administration
• Vacant-property management

For example, Spotted Properties publicly lists a $250 initial setup fee in addition to its management and tenant-placement pricing, while Northline states that repair costs and certain LTB or enforcement expenses are passed through separately.

Additional charges aren’t inherently a problem – some services involve additional work and reasonably carry an additional fee. What matters is that landlords understand the complete fee structure before signing a property management agreement.

Is HST Charged on Property Management Fees in Ontario?

Landlords should account for HST when calculating the actual cost of management. PMT’s published property management and Tenant Selection fees, for example, are listed plus HST.

If you’re comparing quotes from several companies, check whether each advertised number is before or after tax. A $150 pre-tax management fee and a $150 tax-inclusive management fee aren’t equivalent.

How to Compare Property Management Companies in Toronto

When comparing property management companies, the advertised monthly rate only tells you part of the story. Ask each provider the same questions so you can compare the total cost, services and level of support on an apples-to-apples basis.

Fees & Pricing

• How is the management fee calculated? Find out whether you’ll pay a flat monthly rate or a percentage of rent.
• What services cost extra? Ask about inspections, lease renewals, notices, maintenance coordination, legal administration and emergency services.
• What is the tenant-placement fee? Leasing fees can have a significant impact on your first-year management cost.
• Are there setup or onboarding fees? Some companies charge an additional fee when management begins.
• Is HST included? Confirm whether quoted prices include or exclude HST so you’re comparing equivalent costs.

Maintenance & Property Oversight

• How are maintenance costs handled? Ask whether contractor invoices are passed through at cost or whether maintenance markups or coordination fees apply.
• Are property inspections included? Find out which inspections are included and how frequently they’re completed.
• Who handles after-hours emergencies? Confirm whether 24/7 support is available and whether emergencies are handled in-house or outsourced.

Tenant & Tenancy Management

• What happens when a tenant doesn’t pay? Understand how the company handles late rent, notices, documentation and escalation.
• How are Ontario tenancy requirements handled? Ask about the team’s experience with the Residential Tenancies Act, tenancy notices and Landlord and Tenant Board processes.

Reporting & Overall Service

• What exactly is included in the management fee? Ask for a clear list of services rather than relying on terms such as “full-service property management.”
• What financial reporting will I receive? Understand how rental income, property expenses and other financial activity will be documented and reported.

The goal is to determine your total expected management cost and what you’re receiving in return. A lower monthly fee may not be the less expensive option if tenant placement, inspections, maintenance coordination and other routine services are charged separately.

How PMT Structures Property Management Fees: Pricing & Inclusions

As a rental property management company, PMT uses flat-rate pricing based on property type rather than charging a percentage of monthly rent. This gives landlords a predictable monthly management cost that doesn’t automatically increase when the property’s rent increases.

PMT offers two levels of ongoing management: PMT Services and PMT Services+. Both cover core day-to-day property management responsibilities, while PMT Services+ provides additional property oversight and financial administration.

Pricing & Services	PMT Services	PMT Services+
MONTHLY MANAGEMENT FEES
Multi-unit home	$109 + HST / door	$149 + HST / door
Condominium	$119 + HST	$159 + HST
House	$179 + HST	$209 + HST
TENANT & RENT MANAGEMENT
Monthly rent collection	Included	Included
Rental revenue deposited to landlord	Included	Included
Tenant communication & support	Included	Included
Tenancy notice coordination	Included	Included
PROPERTY MANAGEMENT & MAINTENANCE
Move-in & move-out inspections	Included	Included
24/7 emergency tenant support	Included	Included
Maintenance & repair scheduling	Included	Included
Access to experienced vendors & preferred pricing	Included	Included
REPORTING & ADMINISTRATION
Monthly & annual financial reporting	Included	Included
Annual property inspections	—	Included
Property tax payments	—	Included
Monthly utility payments	—	Included
Monthly condo fee payments	—	Included
Annual rent increase admin fees waived	—	Included
Lease renewal admin fees waived	—	Included

Pricing shown reflects PMT’s published pricing as of August 2026. Additional fees may apply to services outside the applicable management package.

Additional Benefits Available to PMT Clients

The monthly fee isn’t the only cost consideration. PMT clients also have access to services and resources designed to help streamline rental operations and manage some of the additional expenses that come with owning an investment property.

These include:

• Preferred property service pricing: Access to experienced, licensed vendors and preferred or wholesale pricing on certain services.
• Flexible payment options for larger expenses: No-interest payment plans are available for qualifying large purchases or repairs.
• In-house property support: PMT maintains full-time in-house handyman and cleaning staff in addition to its vendor network.
• Ontario rental expertise: PMT staff are trained in Ontario’s Residential Tenancies Act.
• Investment consultation: Landlords can access investment consultation when considering their next rental property.
• Non-resident landlord support: CRA tax remitting, including monthly tax remittances and year-end NR documentation, is available for an additional fee.
• Preferred professional rates: PMT clients may also have access to preferred or discounted rates for services such as property insurance and accounting support for investment properties.

These benefits are worth considering when comparing property management companies because the lowest advertised monthly management fee doesn’t necessarily represent the lowest overall cost of operating a rental.

Tenant Selection Fees

Tenant placement is separate from PMT’s monthly management fee and costs one month’s rent + HST.

The fee covers the full leasing process, including rental-value assessment, marketing and professional photography, showings, applicant screening and credit checks, lease preparation, property-condition documentation, and coordination of move-in requirements.

When comparing property management companies, landlords should factor tenant placement into the total cost, particularly when a property is vacant or approaching tenant turnover.

Property Management Fees vs. the Hidden Costs of Self-Managing

For landlords comparing costs, self-management can initially look like the least expensive option. There’s no monthly management fee, and you retain direct control over the property – but avoiding a management fee doesn’t mean managing a rental is free. Instead, many of the costs shift back to the landlord in the form of time, administration, third-party services and potential risk.

The hidden costs of self-managing can include:

• Advertising and property showings
• Tenant screening
• Vacancy between tenancies
• Maintenance and contractor coordination
• After-hours and emergency calls
• Accounting and administrative tools
• Legal or paralegal support
• Travel to and from the property
• Ongoing tenant communication
• Time spent keeping up with Ontario rental requirements

For landlords with the experience, availability and systems to handle these responsibilities efficiently, self-management can make sense. The challenge is that the time commitment can change quickly when a maintenance issue, tenant concern or other unexpected problem arises.

“Self-management can absolutely work, but it isn’t free. Your time has a value, and one maintenance issue or tenant problem can quickly turn into hours of work that most landlords weren’t expecting.”
— Ahmed, General Manager at PMT Property Management Services

There’s also the potential financial impact of getting something wrong. Incorrect notices, inadequate documentation, poor tenant screening, deferred maintenance, inconsistent rent collection and other common property management mistakes can turn relatively manageable issues into more costly problems.

Is Paying a Property Manager Worth It?

For many landlords, property management isn’t primarily about rent collection. It’s about transferring a substantial amount of the day-to-day operational responsibility for the rental to someone else.

Professional management can become particularly valuable when dealing with:

• Multiple rental properties
• Difficult tenant situations
• Late or missed rent
• Emergency maintenance
• Contractor coordination
• Tenant turnover
• Inspections
• Documentation
• Regulatory requirements
• Owners living outside Toronto or Ontario

The question becomes less about whether $119, $179 or 8% of rent sounds expensive and more about what your own time, risk and involvement are worth.

So, How Much Should You Budget for Property Management in Toronto?

There isn’t one number that applies to every landlord, and current Toronto providers demonstrate just how varied the market is. Some advertise flat rates below $100 per month, others charge $100–$200+ depending on the property, and percentage-based companies may charge approximately 6% to 12% of rent.

Tenant placement can add another 50% to 100% of one month’s rent, depending on the provider. So, instead of budgeting based solely on a management percentage, calculate:

Monthly management fees × 12 + tenant placement + recurring add-ons + applicable taxes = estimated annual management cost

Then compare that number against the actual services included. The lowest advertised monthly fee isn’t necessarily the lowest total cost, and the most expensive property manager isn’t necessarily the best.

The goal is to find the combination of cost, service, experience, responsiveness and risk reduction that makes sense for your rental property.

If you’re comparing property management fees in Toronto and want to understand exactly what professional management would cost for your rental, get in touch with PMT today to discuss your property and management needs.

Frequently Asked Questions About Property Management Fees

How much do property managers charge in Toronto?

Property management fees in Toronto vary widely. Some companies charge flat monthly rates, while others charge approximately 6% to 12% of monthly rent. Additional tenant-placement, maintenance, inspection, administrative or legal fees may also apply.

What percentage do property managers charge?

Percentage-based residential property management commonly falls somewhere around 6% to 12% of monthly rent in the Toronto market. Individual companies may charge rates outside this range depending on the property and service package.

Is a flat fee or percentage better for property management?

It depends on the property. Percentage-based fees can be competitive for lower-rent units, while flat-rate management can become increasingly attractive as monthly rent rises because the management fee doesn’t automatically increase with rental income. Services included should always be compared alongside price.

What does PMT charge for property management?

PMT’s standard monthly management currently starts at $109 plus HST per door for multi-unit homes, $119 for condominiums and $179 for houses. PMT+ starts at $149, $159 and $209 respectively.

Do property managers charge a fee for finding a tenant?

Many do. Tenant placement is commonly separate from monthly property management. Among Toronto providers with publicly advertised pricing, fees can range from approximately half of one month’s rent to a full month’s rent. PMT’s Tenant Selection Fee is one month’s rent plus HST.

Are property management fees different for condos and houses?

They can be. Houses and condos involve different maintenance and administrative requirements, so some property managers use property-specific rates. PMT, for example, charges different flat monthly rates for condominiums, houses and multi-unit properties.

Do property management companies charge HST in Ontario?

HST can apply to property management services in Ontario. Landlords should determine whether HST is already included in an advertised price or will be added to it. PMT’s published management fees are listed plus HST.

Are maintenance costs included in property management fees?

Usually, maintenance coordination and the actual repair are treated differently. A management package may include coordinating maintenance, while the landlord remains responsible for contractor labour, replacement parts and materials. Some companies may also charge maintenance markups or coordination fees, so landlords should check their management agreement.

Are there hidden fees with property management companies?

Fee structures vary. Potential additional costs can include setup fees, tenant placement, inspections, lease renewals, maintenance markups, legal administration, LTB support, notices or other services. Ask for a complete written fee schedule before signing an agreement.

Is property management worth the cost for one rental property?

It can be. A landlord with one property can still benefit from rent collection, tenant communication, maintenance coordination, emergency support, inspections, financial reporting and tenancy administration. Whether it’s worthwhile depends on the landlord’s experience, available time and desired level of involvement.

Is it cheaper to manage a rental property myself?

Self-management eliminates the monthly management fee, but it still involves costs associated with tenant placement, maintenance, vacancy, administration, emergencies and the landlord’s time. Mistakes involving tenants, notices, documentation or maintenance can also create additional costs.

How should I compare property management companies?

Compare the total expected annual cost rather than the advertised monthly fee alone. Review monthly management, tenant placement, setup fees, maintenance charges, inspections, lease renewals, emergency support, financial reporting, tenancy administration and applicable taxes. Most importantly, compare exactly which services are included in each company’s fee.