Top 5 property management companies in Toronto

Do you own an investment property in Toronto but live in the US? If so, you may be dealing with challenges like handling maintenance and finding reliable tenants from across the border.

It can quickly become overwhelming, but property management companies in Toronto can take these responsibilities off your plate. This way, you can earn rental income without the daily headaches of being a long-distance landlord. Here's how it works.

We'll also introduce the Wise account, which allows you to send, spend, and receive your money across the globe in over 40 currencies – all at the fair mid-market rate.

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What does a property management company do?

Many property management companies in Toronto offer end-to-end services that cover every aspect of running your rental property. Generally speaking, they can handle:

• Tenant screening and background checks
• Marketing your property and creating listings
• Rent collection and payment processing
• Maintenance and emergency repairs
• Property inspections and condition reports
• Lease agreements and legal documentation
• Non-resident tax filing
• Tenant communication
• Move-in and move-out procedures
• Financial reporting

It often makes sense to hire a Toronto property management company when you live in the US. The distance alone makes it nearly impossible to show your property to potential tenants or respond quickly to maintenance emergencies.

Top 5 largest property management companies in Toronto

Buttonwood Property Management

Buttonwood Property Management is an established Toronto property management company that specializes in residential and commercial properties. They can manage condos, townhouses, single-family homes, and multiplexes.¹

Their services include:¹

• Online portals for landlords and tenants
• Monthly and year-end financial statements
• 24/7 emergency maintenance
• Property preparation, including painting and cleaning
• Professional photography
• MLS listings
• Tenant screening with credit and employment verification
• Lease preparation and execution
• Rent collection with payment guarantees
• Seasonal property inspections and detailed reports
• Move-in/move-out coordination and documentation
• Building association coordination
• Non-resident tax remittance assistance

If your property is currently vacant, Buttonwood will find you a tenant at no charge when you sign a management contract. For properties that already have tenants, they waive management fees for the first 2 months.¹

They also guarantee on-time rent payments every month, even if the tenant defaults.¹

Property Management Toronto

Property Management Toronto brings over 25 years of real estate experience to the market. They also offer free property management for 1 year when you purchase an investment property through them.²

Their property management services in Toronto include:²

• Tenant selection
• Real estate consulting
• 24/7 support for owners and tenants
• Ongoing tenant relationship management
• Monthly and annual financial reporting
• Property marketing across multiple platforms
• Professional photography and listing optimization

This property management company is a good fit for owners who are looking for a comprehensive service backed by years of experience.

DASH Property Management

Another solid option for residential property management in Toronto, DASH specializes in high-quality condos located in the city's most sought-after neighborhoods. They maintain an impressive 99% occupancy rate and have worked with property owners from more than 40 countries.³

Their services include:³

• Tenant screening
• Rent collection
• Insurance
• Non-resident tax filing support
• Maintenance

Working with DASH requires minimal oversight from property owners, so if you own a condo in one of Toronto's premium neighborhoods, they might be just the property management company for you.

LandLord

One of the oldest property management companies in Toronto, LandLord has almost 30 years of experience in the city as well as the Greater Toronto Area, including York Region, Halton, Peel, and Durham.⁴

They handle all aspects of real estate investment with a full-service approach. LandLord can help you with:⁴

• Tenant management
• Property upkeep
• Rent collection
• Leasing & advertising
• Bill payments
• Non-resident tax services
• Administrative support
• Renovation services
• Design-build services

In addition to property management services in Toronto, LandLord can also help you buy and sell properties as well as do expert renovations to increase your property's value.⁴

Property Management Partners

Property Management Partners handles residential rental properties, including single-family houses, condos, multiplexes, and even small apartment complexes.⁵

You'll find the following services at Property Management Partners:⁵

• Accounting
• Marketing
• Maintenance
• Compliance
• Tenant management
• Improvements
• Inspecting
• Showing
• Screening
• Evictions
• Pricing

On their website, they emphasize providing comprehensive care and building strong relationships with both property owners and tenants.⁵

Is paying a property management company worth it in Toronto?

Likely, yes. Hiring a property management company in Toronto makes the most sense for Americans who still live in the US. That said, even if you live in Toronto, it can still be very helpful and help you generate a steady rental income without needing to lift a finger.

The benefits include:

• Local market knowledge
• Legal and tax compliance
• Faster maintenance response
• Professional tenant screening to reduce the risk of problems and missed rent payments
• Higher occupancy rates
• Less stress

That said, it's important to find a property management company that specializes in the type of services that you need.

Finding a good property management company in Toronto is relatively straightforward because there are many solid options available.

However, what many American property owners don't realize is that they're losing a hefty chunk of their earnings on international transfers between Canada and the US.

Banks charge high fees for international transfers and use poor exchange rates. When you send regular transfers, these costs add up. Over time, they can cost you thousands of USD.

Consider investigating alternatives that offer better rates.

With Wise, you can send secure and trackable large amount transfers to 140+ countries worldwide with transparent fees and the fair mid-market exchange rate.

Have a look at the main benefits for using Wise to send large transfers:

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Sources

1. Buttonwood Property Management - Home Page
2. Property Management Toronto - Home Page
3. DASH Property Management - Home Page
4. LandLord - Home Page
5. Property Management Partners - Our Services