Toronto Condo Investment
Insure success in your investment
Toronto Condo specializes in real estate investment and Toronto condo property management. As a leading condo management firm, Toronto Condo provides expert services for individuals seeking to invest in the Toronto condo market.
Our successful management of over 200 Toronto condominium properties has secured our reputation as a leading condo investment management firm and our insight into the Toronto condo market will deliver the highest possible return on your condo property investment.
Our goal is to create a â€œone-stopâ€ condo investment experience that leaves the residential investor with profitability and peace of mind.
What Toronto Condo can do for you:Rental Preparation of your Toronto Condo property
Your Toronto condo property manager will meet with you to evaluate the rental value of your condominium. Using a wide range of professional resources, Toronto Condo will perform an analysis of the Toronto condo market to determine the monthly rental amount for your condo project. Design of target marketing program
Your Toronto Condo property manager will work with you to design a targeted marketing program for rental of your Toronto condominium. Using the internet, MLS, local newspapers, circulars and property signs, your property manager will swiftly execute a marketing program that will attract appropriate rental candidates for your Toronto condo. All leads and inquiries will be perused and showings of your condominium will be scheduled. Thorough screening of applicants
Your Toronto condo property manager will thoroughly review each prospective tenantâ€™s rental and credit history including prior evictions or past issues with condo developers or buildings. The prospective tenantâ€™s employment and stated income will be verified and past landlords will be contacted to verify the candidateâ€™s payment history. The results of the screening will be discussed with you and recommendations will be made. Coordinate move-in of new tenant
Your Toronto Condo property manager will collect first and last monthâ€™s rent and a security deposit in the form of a cashierâ€™s check prior to the tenantâ€™s move-in. Toronto condo will prepare all rental and lease agreements and meet with your new tenant to ensure all agreements have been properly executed prior to the move-in. Digital photos of the condo property will be taken prior to the tenantâ€™s move-in to ensure accurate documentation of your Toronto Condo. Prompt rent collection and disbursements
Your Toronto Condo property manager will promptly collect the rent from your tenant at the beginning of each month. Our accounting department will disburse the rental proceeds in the manner instructed by you on a monthly basis. Our legal department will serve notices to â€œPay Rent or Vacateâ€ if rent has not been paid on time. Toronto Condoâ€™s legal department will coordinate the beginning of an unlawful detainer action to evict your tenant if rent is not paid. Payment of your monthly expenses
Toronto Condoâ€™s accounting department will pay all reoccurring monthly expenses on your behalf should you desire the service. These may include:
- Condominium property taxes
- Condominium maintenance fees
- Gardening, snow and pool services
Toronto Condoâ€™s accounting department will file your GST Rebate and we will also file for a Tax Return for a Non Canadian resident if need be. Detailed monthly accounting reports
Toronto Condo will provide you with monthly itemized statements displaying income and expenses relating to you Toronto condo investment. Our accounting department will also provide you with a year-end account summary. Complete property maintenance services
Toronto Condo provides 24-hour emergency repair service. We minimize the cost of repairs and maintenance by using our extensive network of condo building contractors, vendors and handymen. We coordinate condo property reconditioning, which includes painting, window coverings, new carpets as well as carpet cleaning. We also arrange for maintenance services such as gardening, pool service and utilities. Professional, prompt and courteous service
Toronto Condo provides a total property management solution for our clients. In addition to promptness and professionalism, we strive to provide our clients with courteous service that is unmatched in the Toronto condo market
Condo Maintenance Fees
Condo Maintenance Fees: How much should you pay?
Condo Maintenance fees or condominium association fees are determined by a number of factors. The Toronto condo market is very diverse, and as such, the condo fees in one Toronto condo building may be higher than in another. This doesnâ€™t mean that some Toronto condo projects simply charge more in condo fees to achieve higher profits; it means that the size of your Toronto condo and the characteristics of your Toronto condo building will determine how much you will pay in condo fees.
The condominium association for your condo determines how much each unit owner will pay in condo fees. These fees include but are not limited to:
- Roof maintenance and repair
- Upkeep of corridors, hallways and exterior walls
- Driveway and parking lot maintenance
- Salaries of cleaning staff, groundskeepers and handymen
- Heating and cooling maintenance
Toronto condo buildings that include luxury amenities such as a pool, gym or roof-top patio will have higher condo fees because these facilities require skilled maintenance. Toronto condo buildings that include ground-floor convenience stores or other retail stores will also have higher condo fees, although the owners of these stores are required to pay condo fees as well.
Condo Maintenance fees and your condominium association
Toronto Condoâ€™s goal is to ensure that your Toronto condo investment is a sound one. Because condo fees are subject to increase, it is important that you are aware of the factors that could raise your condo fees.
Your condo associationâ€™s reputation should be thoroughly scrutinized before you purchase a Toronto condo. Has the association stayed on top of condo repairs and ensured that they are taken care of before damages get worse and more costly?
A portion of your monthly condo fee should go to a â€œreserve fundâ€ that the condo association keeps in case of emergencies. As part of Toronto condoâ€™s service we investigate and find out for you if your condo association has such a fund and if it has ever been utilized recently or in the past. A reserve fund will ensure that you are not hit with â€œspecial assessment feesâ€, which are unforeseen costs that all unit owners are responsible for.
It is also a good idea to find out whether your condo association has plans to improve or add to the buildingâ€™s amenities. If the association plans to build a gym or any other facility in your Toronto condo, it will most likely result in an increase in your condo fees.
Pending legal actions that have been brought against the Toronto condo development also have the potential to raise your monthly condo fees. If the condo development you are considering is embroiled in a lawsuit, you should be made aware of this before deciding on your condo investment.
Condo fees are constantly on the rise due to the higher cost of living as well as inflation but monthly Toronto condo fees generally range between 40 to 60 cents/ft. The condo fees are usually between $200 to $500 a month with some reaching over $1000 a month.
Annual maintenance fee increases must also be taken into consideration. In most cases maintenance fees rise by 1 to 5 percent annually. An increase in maintenance fees must be voted upon by the board of directors and must also be ratified by the condo unit owners.
As part of Toronto Condoâ€™s commitment to providing complete investment management services, we can assist you in gathering information on your potential Toronto condo investment, its condominium associationâ€™s plans and maintenance fees.