Property Management Services

Thombar Property Management offers effective worry free management of real estate assets that will make a significant contribution to your bottom line!

For owners and investors, Thombar can provide improved appraisals and valuations through analysis and upgrades, better funding for client refinance/take-outs and better tenant retention, reflecting better return on investment.

   General overview of Thombar Management Services and Fees:

1. Day-to-Day Operations. Including bookkeeping and deposits (cheque preparation for owners is typically 4-6% of gross rent, independent bank account is typically set up, where the management firm is authorized to spend up to $500.00 as discretionary funds).
2. General building maintenance.
3. Pay expenses pertaining to the building on a monthly basis (not typically mortgage payments).
4. Preparation of HST Returns.
5. Rate is one months’ rent (Commercial and residential). Landlord may be charged up to 3 months rent when cooperating brokers are involved.
6. Lease Preparation. Commercial lease - $250.00. Residential lease - $100.00.
7. 5-10% surcharge on all work performed on the property requiring the property management firms’ management and overseeing.
8. Tenant Relations. Constant communication with Tenants from our centralized office.
9. Correspondence. The centralized office will accept all correspondence on behalf of the property.
10. Errors and Omissions Insurance. Covers liabilities.
11. Weekly drop-ins to each property by our property manager to liaison with on site superintendant.

*Additional attendance by property manager $100.00/site visit.

12. Utility Invoicing. Can be subject to 5% management fee on all invoices.
13. Correspondence with City. Officials including fire department, by-law enforcement, health inspectors, building inspectors etc., is included.
14. Yearly fire inspections and certificates with a 5% surcharge on inspection and work performed.
15. Emergency Services. 24 hours/7 days a week.
16. Cleaning/Handyman Work. For cleaning and general handyman work, Landlord will be charged a rate of $35/hour per man plus one hour travel time
17. Power of sale/Mortgagee services: We also provide Mortgagee in possession services such rent attornment, rent collections, trust accounts,notices and court attendances.

PROPERTY MANAGEMENT FEE FOR SMALLER INVESTMENT PROPERTIES

Property Management fee:

• Single-Family Home/Individual Condominium Unit/Cottage:

minimum $135/ month.

• Small Income Properties (2-4 units)

6% of monthly rent income (minimum $245/month per building).

• Investment Properties (5 units+)

   5% of monthly rent income (minimum $455/month per building)

**Fees subject to change by complexity of property.