Reserve Fund:
For apartments and townhouses, we will withhold a refundable 500 CAD deposit from the first month’s rent. For detached houses and duplexes, a 1000 CAD deposit will be held. This serves as a reserve fund for emergency repairs or unpaid management fees. When you decide to terminate our services, the deposit will be refunded. (This applies to overseas property owners only.)
Lease Renewal Fee:
If you and the tenant choose to sign a new fixed-term lease (for the second year), we will charge 25% of the first month's rent as a renewal fee, as we will need to redraft the lease agreement and update tenant information.
Management Fee During Tenant Transition:
Even if the unit is vacant after a tenant moves out, a minimum management fee 150 CAD per month + GST) is still required. This is because we continue to handle communications with the property management company (Strata), prepay utility bills, arrange viewings, and ensure the unit remains functional until the next tenant moves in.
Key Duplication/FOB Ordering Fee:
Owners must provide at least three sets of keys, one for the property manager and one for each adult tenant. If the property manager needs to order additional FOBs or duplicate keys, a 25 CAD handling fee will be charged in addition to the cost of the keys and FOBs.
Mail Retrieval Fee:
Owners are responsible for forwarding their personal mail to their new address. We will only collect property-related mail. If the property manager needs to make additional trips to retrieve mail, a 50 CAD fee will be charged for each trip.
Bank Fees:
If the property manager needs to pay for cleaning or repair services in advance on behalf of the owner, any resulting bank fees will be the responsibility of the owner.
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