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Canada’s most significant cities undergo unprecedented growth with continuous condos, housing, and commercial property developments.
Many property management brands work with different properties, from large malls and expansive commercial properties to highrises, co-operatives, and condos. Property management brands collaborate with other services or contract maintenance services, auditors, and bookkeeping services to manage a portfolio of properties.
Canada’s largest property management brands provide complete services that include commercial leasing and sales, maintenance services, rental management, and working with contractors for long-term projects on the property.
Some of the largest property management firms, such as The Properties Groups, which is based in Ottawa, offer asset management, acquisition, and syndication services, in addition to full-service property management. Macdonald Commercial offers commercial and luxury properties, real estate, and property management services.
Small to medium-sized property management firms tend to focus on more local properties. They are typically more familiar with municipal zoning laws, communities, and other aspects directly related to a specific area or region.
These companies may offer less expensive fees for management services that include on-site or virtual administration, bookkeeping services, cleaning, and maintenance. Property managers associated with the company, either as an employee or a contractor, may work on-site at one or multiple sites.
CPO Management is a Concord, Ontario-based property and project management firm that offers financial and accounting management services to properties, including on-site administration and overseeing daily operations. CPO Management provides preventative maintenance and project management for large-scale restoration or renovations in a building like other companies.
Bridgeway Property Management is based in Toronto and provides various services for apartment buildings and rental properties, including rent collection, legal advice and guidance, financial administration and reporting, maintenance inspections, and property marketing.
Another similar company, Landlord Property, and Rental Management offers paralegal, tax, and tenant screening services. They handle all the rent collection, processing, and property insurance for rental properties. This firm offers a convenient app for clients to track progress on projects, communication, and updates on various projects on properties and sites.
Numerous smaller property management companies offer professional, administrative, and maintenance services. They often work with clients to procure bids for contracts and suggest specific law firms, project managers, contractors, or construction firms for consideration.
Canada offers a significant selection of property management brands from multinational corporations to smaller firms and services. While some properties prefer the close relationship they establish with more localized firms more acquainted with the community, large commercial and luxury properties require more extensive services and support.
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The size and type of property or site can determine the best management approach. Ideally, large commercial properties or residential highrises are best managed by a team of professionals accredited through an agency or firm.
They can be expensive depending on the range of services you need. For example, if you already have on-site maintenance staff and cleaners, a part-time administrative assistant and manager may be all you require, which is less costly. Large properties or buildings with hundreds or thousands of tenants may require ongoing support and a contractual agreement with a property management firm.
No, as they are not licensed to provide legal direction. In most cases, property management firms can suggest a law firm or legal counsel familiar with cases involving tenant disputes, condo owners, and other specific situations.
Both are available, depending on the firm you hire to manage your property.