Hiring a property manager in Canada can be a smart move if you own one or more rental properties but don’t want to handle day-to-day landlord tasks — especially if you live far from the property, have a busy schedule, or lack experience with tenants and maintenance. Here’s a comprehensive guide on what property managers do, costs you can expect, how to choose one, and key questions to ask before hiring.
🧾 What a Property Manager Does
A property manager handles the operational side of owning a rental property on your behalf. Their duties typically include:
✔ Tenant placement & screening – marketing vacant units, vetting applicants, credit checks, employment and rental history verification.
✔ Rent collection & lease administration – collecting rent, enforcing lease terms, preparing agreements and renewals.
✔ Maintenance coordination – scheduling repairs, routine inspections, emergency responses, and sometimes handling contractors.
✔ Financial reporting – providing owners with income statements, expense reports, and updates.
✔ Legal and regulatory compliance – ensuring leases and practices align with local landlord-tenant laws.
In short, they manage everything from tenant relations to property upkeep, freeing you from much of the stress and workload associated with being a landlord.
💰 Typical Costs in Canada
Fees vary depending on company size, location (big city vs smaller market) and level of service:
🔹 Monthly management fee
Usually a percentage of collected rent — commonly about 6%–12% of monthly rent.
🔹 Leasing or tenant placement fee
One-time charge when a new tenant is placed — often half to a full month’s rent.
🔹 Setup fee
Some companies charge a one-time onboarding fee (e.g., $200-$500).
🔹 Maintenance and repair charges
There may be mark-ups or coordination fees on top of actual repair costs.
🔹 Other potential charges
Eviction handling fees, vacancy fees, early contract termination fees, etc.
💡 Always request a clear, written fee breakdown so there are no surprises.
🕵️♂️ How to Choose the Right Property Manager
When evaluating candidates, consider the following:
1. Local experience & expertise
Make sure they have knowledge of your specific market and property type (single-family home, condo, multi-unit, etc.).
2. Proven track record
Ask how many units they manage and request references.
3. Communication style
Ask how often and in what format they’ll update you (e.g., online portal, email, phone).
4. Responsiveness & service level
Find out how they handle tenant requests, emergencies, and after-hours issues.
5. Contract terms
Understand minimum contract length, termination conditions, and penalties.
❓ Key Questions to Ask Before Hiring
Here are essential questions to ask during your interviews with property managers (adapted from industry recommendations):
About the company & experience
How long have you been managing properties?
Do you specialize in residential, commercial, or both?
Can you provide references?
About services & fees
What services are included in your fees?
Do you charge extra for tenant placement, inspections, or maintenance?
Are there fees if the property is vacant?
About operations
What is your tenant screening process?
How do you handle late rent or eviction situations?
How do you handle maintenance requests — in-house or outsourced?
About reporting & communication
How often will you send financial and operational reports?
Who will be my main contact?
👍 Pros & Cons
👍 Pros
Saves you time and reduces stress.
Professional handling of leases, repairs, and tenant issues.
Can improve tenant retention with better service.
👎 Cons
Cost can be significant — especially for smaller properties. Some charge 10%+ of rent.
Not all companies screen tenants well or communicate effectively — due diligence is essential.
🧠 Final Tips
✔ Interview multiple companies before choosing one.
✔ Read contracts carefully — know what’s included and excluded.
✔ Check reviews and references — past experiences of other landlords are valuable.
✔ Clarify communication expectations — you want updates, not silence.
ELIAS JIRYIS.BROKER can help you see the bigger picture, from your property’s current value to its long-term potential as part of your financial plan. If you are thinking about your next move as an investor or homeowner, sit down with a professional to get clear, grounded advice.