11) Property Management
Maintenance & Tenant Care
If you are a remote investor from Ontario or BC, I recommend hiring a local property management company to properly maintain your unit and manage your tenant on a day-to-day basis. This is different from property management at a condo building which is responsible for maintaining the overall building - this relates to your specific unit and tenant.
Most property management companies in Calgary charge 10% + GST of the gross rent per month. For example if the unit rents for $2,000/mo, you would be charged:
$2,000 x 10% Fee * 5% GST = $210/mo
Discounted Property Management
I have been able to negotiate discounted property management for my clients at just 7% of rent + GST.
