December 12, 2022
Royal York in The News
As a property owner, you cannot afford to neglect your investment. It is therefore important that you hire the best property management in Toronto for help in managing various activities in your home or office so as to ensure that everything works perfectly.
We have researched and compiled a list of the best property management companies in Toronto that will help you effectively manage your property. Additionally, we have also included information about how much you should be expected to pay when working with a property management company, as well as answers to frequently asked questions about property management companies in Toronto.
What's the Average Cost of Property Management in Toronto?
According to RentSeeker, the average rent for a one-bedroom apartment in Toronto is $1,815, while a two-bedroom apartment will cost you around $2,340. When it comes to paying your property management company in Toronto, you should expect to pay them between 7% and 14.9% of the total rental payment. For example, if your monthly rent is $1,000, you should expect to pay between $70 and $149.90 for property management in Toronto.
However, the cost of property management varies depending on the size and location of your rental unit. In some cases, you may be required to pay as much as 20% or more for a property management company in Toronto to lease out your home.
The 8 Best Property Management Companies in Toronto
Now that you already know the average cost of property management in Toronto, we want to help you find the perfect property management company for your needs. Below, we have listed the 8 best property management companies in Toronto based on factors such as customer reviews, customer retention rate, and years in business.
1. Royal York Property Management
Royal York Property Management is a property rental and
leasing firm with a portfolio of over 10,000 properties, that offers guaranteed
rental income. Valued at $5.6B+ in real estate assets under management, the
company is advancing technology in their processes, systems, and expanding
With 28 office locations across Ontario and 6 office locations in Europe, the company is leading the potential in property management, and surpassing the client experience by operating 24 hours a day, 7 days a week.
Address: 789 Don Mills Road Suite 801 Toronto, Ontario, M3C
Phone: (416) 508 5288
"Had a problem with my current tenant. Hired Royal York to help me out through the legal process and I could not be happier with their service. David Olevson, one of their lawyers, was very understanding and cleared a lot of things out, even before the hearing date. I successfully evicted my old tenant and chose Royal York Property Management for tenant placement, to manage my property and now my rent is guaranteed and I never have to worry about going through the same thing again. My case was very sensitive, and the owner of the company, Nathan Levinson, attended the video hearing himself. Can not recommend them enough. I have never seen the owner of the company get involved without the client having to beg and call multiple people to get their contact. Great job guys!"
- Pierre Graham
2. ICC Property Management Toronto
3. Zahra Properties
4. Goldview Property Management
5. Property Management Toronto
6. LandLord Property & Rental Management Inc.
7. Real Property Management Service
8. Del Condominium Rentals
What to Look for When Choosing a Property Management Company?
- Choosing the right property management company to handle your investment property can be a challenging task. It’s important to consider all aspects of their service before choosing the best possible option.
- Here are some tips you can use to find the best property management company in Toronto.
- Find out about their past experience and expertise with a variety of clients in similar or different situations.
- Look for a company that provides a transparent process in all transactions.
- Choose a company that will share your vision when it comes to the future of your property.
- Make sure they provide personalized services with timely communication.
- Find out about their emergency support and tenant management systems.
- Look for a company that offers 24/7 customer service with professional and experienced agents.
- A good property management company should have a strong online presence to reach out to their customers effectively.
- Make sure they are an industry-certified firm that follows the best practices of the industry.
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