The Independent Property Manager, Are We a Good Fit for Your Needs? – Winter 2025
February 21, 2025
The role of an independent property management company consists of many layers, some of which are mutually exclusive, and others that are closely interconnected. In short, our job is to mediate the relationship between two main parties – the tenant and the landlord. In doing so, we are responsible for assisting our clients in the navigation of various practices and pitfalls that commonly affect this industry.
Independent property managers separate themselves from onsite condominium managers, by taking on the simultaneous management of multiple units from various condos within their area of service. We also separate ourselves from real estate agents and brokers, by conducting the leasing process in a way that gives us a one-on-one relationship with the tenant, from showing to move-out.
Whether you are a condominium purchaser thinking about hiring a property management company to aid you in the facilitation of your investment, or a prospective renter wondering if a professional landlord is worth considering, please continue reading. The Rental Lifestyle Group Inc. has been at the forefront of Toronto’s rental scene for over two decades, and we have witnessed gradual changes in the industry for better and for worse. We hope that our extensive knowledge, and the following information will aide in clearing up some misconceptions and pre-concieved notions about what we do (and don’t do!).
Owners: What We Do
Our job is to assist you in the day-to-day management of your investment. We offer advertising, showing, application screening, lease structuring, and move-in facilitation for tenants, while providing owners with all the information they need to make necessary, and well-informed final decisions. Our services also extend to maintenance and repair coordination, renovations and contracting, furnishings, PDI, and professional cleaning. We cover rent collection and accounting, and for condominium purchasers who are not Canadian residents, we can facilitate witholding taxes (which would otherwise be the responsibility of the tenant!).
Most importantly, our managed approach includes ongoing, face-to-face interactions with the tenant, from move-in to move-out. Our goal is to remove the headache from property ownership, while ensuring that you understand what remaining obligations you have and allowing you to get the most out of your purchase down the road.
If you would like to learn more about our services, please feel free to use the contact tab above, or send a direct email to info@rentallifestyle.com for more information on what we do, and our fee structures.
Owners: What We Don’t Do
We are not able to facilitate or clarify anything in relation to condominium common area fees, property taxes or mortgages. As the purchaser of the property, the optional opportunities you have as an owner within the corporation will remain available to you at all times, including annual general attendance, quorums and proxies, budget reviews, and board member elections.
We do not guarantee revenue protection or rental compensation, nor are we in a position to cover incurred cost of repairs, replacements, or maintenance on your in-suite appliances, fixtures, and belongings. Similarly with unit turnovers, furniture, and renovations.
We are not lawyers. At no point do we claim to offer, nor will we attempt to give you legal advice regarding a situation you may be experiencing. We are well versed in the Residential Tenancy Act of 2006 and all it’s revisions, as are we familiar with Ontario’s Landlord and Tenant Board and the various expectations of homeowners in the province. Respectfully, we will not be associated with individuals who wish to operate outside of these terms, and no exceptions will be made in this regard. We appreciate your understanding.
Tenants: What We Do
Our goal is to streamline and simplify the rental process for tenants. Our leasing and management practices have been refined over many years of experience in the industry, and we are constantly tweaking our approach as it continues to change . We do our best to explain every step of the process in clear and concise detail, while welcoming any and all questions, and ensuring that tenants are in full understanding of their responsibilities. Transparency is critical to our company, and we pride ourselves on doing our utmost to ensure tenants know exactly what to expect from start to finish.
In regards to units within our managed portfolio, we will assist in the coordination of maintenance and repair requests, day-to-day matters, and ongoing communications throughout the course of your tenancy. Tenants can be assured that all notices are served within the requirements set by the province, rental receipts and reference letters can be provided upon request, and any issues that arise are dealt in a manner that is acceptable within the provincial law.
If you are interested in the properties we have available for rent, please do not hesitate to view the “For Rent” page above, where you free to filter by building location and use the included contact form. You can also reach us directly at info@rentallifestyle.com for showing bookings, or further information
Tenants: What We Don’t Do
We will not provide repair, replacement, or reimbursement services that extend beyond what is seen as reasonable and acceptable by the Landlord and Tenant Board. We are aware of the obligations tenants have in the proper maintenance of their living space, and expect that they be observed for the duration of the tenancy, and upon move-out.
We will not act outside of the rules and regulations that are set by your onsite management, and the building bylaws. In signing your lease, you have agreed to abide by the condominium’s rules, which are set in place for the good of the collective community. We expect all tenants familiarize themselves with common etiquette when living in a private, multi-residence dwelling, and any infractions and violations will be documented with appropriate action taken in the case of repeat offenses.
Are We Right For You?
Independent property managers are in a unique position, where they are required to balance the wants and needs of the owner with those of the tenant, all while maintaining all internal components of the property, and keeping costs as low a possible. We are an intermediary, often referred to as a “go between”, and this rule is frequently associated with particular frustrations, but also opportunities!
We hope this has helped you to understand the role of an independent property manager, and aids in any decision making down the line.
Thank you for your ongoing cooperation.
Regards,
The Rental Lifestyle Group Inc. – Residential Leasing and Management – Toronto
Date: February 21st, 2025