Leasing out your condo has always been at the back of your mind. There are just so many moving parts that go along with it. It’s exciting, but overwhelming. We get it! It’s likely your single biggest investment in your lifetime and you don’t just want ANYONE in your home. But that potential monthly income – it just sounds so good! Well, we’ve got you covered. We’re experts and we’re here to jumpstart your journey of becoming a Liberty Village Landlord.
You’re probably wondering what this process entails. And we’re happy to give you the lay of the lands. Let’s start out with the Landlord Services that we offer:
A Thorough In-Person Walk-Through
Drop the address and we’ll be there. We’re here to learn the ins and outs of your unit – ceiling to floor, wall to wall. Our thorough knowledge & expertise allows us to recognize and highlight all that makes your unit special. With honesty and transparency, we’ll advise what could use some TLC, like a few touch-ups, a fresh coat of paint or adding some built-ins to a closet. A second set of eyes allows for an unbiased perspective on how to get the highest possible price & the most qualified Tenant.
A Comparative Market Analysis (CMA)
Without the assistance of a professional, pricing your unit can be the trickiest and most tedious step. You want to get the biggest bang for your buck, but you also don’t want to price too high and dissuade potential Tenants. After an in-person walk-through of your unit, we head back to the office & begin the research. By looking at comparable recently leased units in your building, combined with an in-depth explanation of the present market, we’ll provide you with the price per square foot of your unit coupled with a suggested listing price.
A Thoughtful & Comprehensive Marketing Plan
We ensure your unit gets the MOST possible eyes on it. By marketing your unit via numerous social media platforms, such as Facebook Marketplace, Zumper, PadMapper, Kijiji, LibertyVillageToronto.com, MLS, Royal LePage & Realtor.ca, we maximize exposure & attract widespread interest.
Presentation is key! Whether a rental or sale listing, first impressions are heavily framed by the unit’s photos. If photography is not top-notch, viewers may entirely skim over your unit or get the wrong impression. With access to the very best Toronto real estate photographers, our team ensures that no detail is overlooked. With plenty of experience and success, we know the very best angles, peak light exposure times & how to optimize the presentation of your unit on the web.
Once we’ve completed a thorough in-person walk-through of your unit, we can provide expert tips on how to get top dollar for your unit. You will be in excellent hands with our exclusive database of top Toronto trades. Do you need a handyman, painter, power-washer? We’ve got you covered!
An In-Depth Multi-Step Screening of All Applicants
Your investment is extremely important and we want only the very best Tenants living in your unit. We treat the applicant screening process as if the applicants are applying to live in our very own investment unit. We ensure an applicant’s profile is entirely complete by collecting a valid photo ID, an extensive credit report, an employment letter, the 3 most recent pay stubs & a rental application. Next, we cross-reference all documents and ensure all legal names, addresses and employment matches. We carefully confirm employment by verifying the number provided is, indeed, a company landline and/or HR extension- to us, providing a cell number for an Employee or Supervisor is simply not enough. We confirm salary, length of employment, contract type, job position, the name of the applicant’s Supervisor & whether the company foresees any changes in employment. Prior to calling the previous Landlords, we use Land Title Registry to confirm the Landlord listed, indeed, owns the unit. We utilize MLS to gather the applicant’s previous monthly rent payment & verify their length of possession. Next, we obtain character references from the personal references listed on the application. Our last step includes a thorough social media analysis. We research the applicant on Google and analyze all results. We find the applicant’s LinkedIn, Facebook & Instagram and gather data on the applicant’s lifestyle, whether they have a pet and ensure all prior details match (employment, legal name, etc.).
A Summary Report Of All Offers & Applicants
Once our in-depth multi-step screening is complete, we neatly summarize the offer details and research findings in an email to the Landlord. We raise any concerns we might have, elaborate on the findings and relay to the Landlord the offer and applicant’s strengths and weaknesses. If there are multiple applicants, we complete a side-by-side analysis for the Landlord to review. With time of the essence, we are always a text, call or email away to discuss all details pertaining to the summary report. We are here to guide you every step of the way.
Negotiation of The Ideal Terms (Price, Occupancy Date etc)
When we receive an offer, we carefully reference our Landlord’s needs, expectations and the comparative market analysis previously prepared. Our goal is to get our Landlords top dollar for their investment unit and we negotiate the offer price, occupancy date and lease terms with this in mind.
Ensuring the All Relevant Paperwork Is Completed Correctly
Paperwork can be overwhelming and confusing to those not in the real estate profession. From the point of listing your unit to the date your Tenants move in, we carefully and diligently take care of all listing and transaction paperwork. We hop on calls, provide detailed email explanations and even text clarifications of the paperwork terms. We utilize secure e-platforms, such as DocuSign, to best accommodate your busy schedule and facilitate contactless signing. All paperwork for the listing and transaction is safely filed in our database and can quickly be produced for our clients when needed. Our clients are always provided a neat and complete file of all paperwork relating to their unit.
And Much Much More………
Contact Us to get one step closer to finding the ideal tenant. We would love to hear from you.
*Sorry, we do not offer property management services at this time*