After choosing a property management company, filling a vacancy is usually an owner’s most important goal. Real Property Management Service takes vacancies very seriously and focuses on rapidly filling them with qualified residents.
Marketing / Advertising
How much rent to charge?
In determining the rental amount that the market will support, Real Property Management Service uses a proprietary method to conduct market comparisons. We then provide a recommended rental range to the owner so that the owner can make an informed decision on the rental amount to be used in advertising. Your Real Property Management Service Team will assist you with the trade-off of “holding out” for a higher rent versus accepting a tenant quickly for a rent that is close to a target price.
A large percentage of renters have a pet. You will need to decide whether or not to allow a pet in your rental. The upside of allowing a pet is that you create a larger pool of potential residents. The downside is that a pet may increase rental wear and tear. It is legal to refuse to rent to tenants with pets, except for pets prescribed by a physician to address a medical condition, or pets that serve as service animals. In fact, service animals are not defined as “pets” and are generally exempt from all pet rules or regulations.
Where is the advertising?
Real Property Management Service’s experience has shown that a mix of traditional and Internet advertising yields the best response. While different types of advertising can vary depending on the location of your rental, a sign is generally the best method of advertising accompanied by online postings. Real Property Management Service’s property management system broadcasts your vacancy to a number of online advertisers with a proprietary mix of websites, paid ads and ad bump-ups.
The majority of calls taken by your Real Property Management Service office are from prospects interested in viewing a rental. The office conducts a brief phone interview to ensure that there is a general match between the prospects’ requirements and the property attributes. If there is a match, the office schedules an appointment. If the prospects are interested in the rental, they are invited to complete an application.
Real Property Management Service uses a national credit reporting provider to obtain credit history. Credit reports cannot be shared with owners due to The Credit Reporting Act, but you will receive summary information based on the Leasing Manager’s assessment of the candidate. Past residence references and income are also be checked.
Human rights information:
The Ontario Human Rights Code is a provincial law which assures equal rights and opportunities for all people without discrimination. The protected grounds to prevent discrimination and harassment are considered when screening a tenant and include:
CitizenshipRacePlace of originEthnic originColourAncestryDisabilityAgeCreedSex (pregnancy)Family statusMarital statusSexual orientationGender identityGender expressionReceipt of public assistance
Discrimination also includes:
- Intersecting grounds, treating people differently on more than one ground.
- Association, treating people differently because a friend or family member identifies with a ground.
- Perceived grounds, treating people differently because of a belief they identify with a Code ground.
Items and areas that are screened:
- Employment verification: Written job letters are reviewed and called to verify accuracy.
- Affordability: Our affordability calculators ensure tenants are spending reasonable amounts of their income on rent.
- Past addresses: While screening applicants we ensure past addressed on application match 3rd party sources and that dates align to see were people really lived and for how long.
- Landlord reference: Current and previous landlords are contracted to provide tenant information that is referenced to to the application and 3rd party sources.
- Credit worthiness: Applicant are screen for payment history, payment orders, garnishments, bankruptcy and current balances. Credit scores are referenced and tenants who have a credit score in the top 15% of all applicants are approved.
- Truthfulness of application/applicant: Every application is thoroughly check to ensure accurate information is provided and compared to outside 3rd party sources.
3rd party sources include
- Criminal & Court Data
- Public civil and criminal cases
- Case status and judgements warrants
- Arrests and public notices
- Adverse Media
- Over 2.5BN articles from over 100,000+ sources including
- Major publications
- National, local and hyperlocal news papers
- Trade publications, tv/radio and academic journals
- Watch Lists and Registries
- Sex offender registries
- Terrorist/OFAC watch lists
- Authority/government lists
- Police / FBI / CSIS lists
- Global, National and local wanted persons
- Industry Databases
- Evictions and black lists
- National tenancy registries
- Employee misconduct files
- Professional tenant database
- Employee fraud databases
- Public Information
- Public Profiles
- Professional Registries
- Websites / blogs
- Online bios
- Known Affiliations
- Gangs, organized crime,
- Negative or violent groups
- Wage & Income Data
- Estimated income
- Industry comparables
- Wages by position and geographic area
- Social Scans
- Public social media profiles
- Current and previous employment
- Negative behaviour from public posts
- Alternate email addresses and known aliases
- Driving / Motor Vehicle Records
- Motor vehicle records by state
- Canadian driver’s abstracts
Real Property Management Service uses the Ontario Standard Lease with additional addendums written in simple language that has been tested nationally and has been reviewed locally by a real estate lawyer. As new laws are erected, Real Property Management Service works with their legal contacts to update the lease template (example: new cannabis laws that came into effect in 2017).
Rental security deposits are managed in accordance with federal real estate laws and regulations. In addition, most provinces have legislation that mandates how deposits are to be handled, and we are in compliance with those as well. In Ontario, only a Last Month’s Rent deposit may be held.
Last Month’s Rent
Laws vary by province regarding the collection of a last month’s rent. If collected, the last month’s rent is typically held by your Real Property Management Service office until the rent becomes due. These funds can only be applied to the last months rent once a tenant moves out. Landlords must pay interest on the deposit annually. The interest owed to the tenant will be equivalent to the Government guideline increase for the year. Real Property Management’s Accounting department automatically performs this service.
Refundable Key Deposit
The Refundable Key Deposit is taken, to account for the keys given to the tenants upon move in. These funds are due back to the tenant upon return of the unit keys.