FAQ Owners
Frequently asked questions for Owners
Why Dash?
Whether you live in Toronto or over seas, we understand that your time is valuable and coordinating maintenance with both contactors, tenants and building managers is likely not at the top of your to do list.
Why not hire someone else to do this for you, at Dash we’re aware of the standards, practices and laws involved with renting out your property. Whether you own a single family home, multi family building, apartment, condominium, or commercial building, a good manager is you reliable partner to whom you can outsource the running of your property.
A few responsibilities that Dash Property Management can accomplish for you typically includes handling rent payment, paying bills and taxes, unit inspections, leases, checking potential tenant credit ratings, and even taking care of building maintenance or construction. Our experience can also mediate typical tenant/landlord issues, letting you know when you are in the right or wrong and following the guidelines of the Ontario Landlord tenancy Act while acting on your behalf.
If you own several properties, it makes sense to outsource the day to day concerns to a reliable manager, and concentrate your time and effort on expanding your career success. The mundane details of managing your real estate holdings can very much be a drag on your priorities. Focusing all your energy on managing your property could seriously affect your primary line of work.
Even if you own just a single property, it may still be worthwhile to hire a manager to look after it. The primary reason for this is that dealing with tenants can be a very unpleasant and tedious affair. In addition to consuming your time, such interactions can zap your energy and focus from other areas too. As your property is being used 24/7 do you really want to be available for your tenant to contact all hours and days? At Dash we also have an after hours emergency line for tenants to contact in the event of an emergency.
With a property manager, its business, there will be no tenants contacting you with a monthly excuses to why their late or need a reduction in their rent. At Dash, we can establish a personal relationship with tenants while being professional. As owners hire us to manage the unit, we work for you, and when rent is due, we deal with the excuses and delays so you don’t have to worry.
What does Dash need from me to start managing my property
- Government issued Photo ID
- Signed Management Agreement
- Proof of title/ownership (status certificate, copy of property tax etc.)
- Void check of account you want funds deposited too
- Condo building rules and regulations (you would have obtained this when you purchased the unit)
- 3 sets of all keys (unit, mail, locker, locker room, amenities, Fob’s, garage, remotes ect) one set for Dash. Two sets for tenants
- Any valid warrantees for the unit and or appliances
- List of appliances make and model numbers inc color (black, white, stainless steel)
- Anything you think we should know about your place
Why Should I Hire a Property Management Company?
The straightforward answer is: to have someone else take care of all the stresses and hassles involved in leasing, renting and maintaining your property.
Another reason is the difficulty of managing property unless you yourself are physically present. It is actually difficult if you live far away, and virtually impossible if you’re in another city. On the other hand, you cannot afford to let your property languish unused. Properties require care and depreciate very rapidly due to disuse.
When and how do I get rental payments
We collect rental payments from all tenants on the first of every month. On the 15th of the month, funds are directly transferred from the Dash account to your Canadian account. Itcan sometimes take up to five business days for the funds to be visible in your account, so please keep in mind if you have pre-authorized payments withdrawn from your account monthly. In the days following the transfer, you will be electronically emailed a statement of the funds Dash collected, minus any expenses and the amount deposited into your account, for your records.
Who is a Canadian Non Resident?
If you are outside of Canada for more then 182 days a year, even if you are a Canadian citizen, you are considered a non resident, therefore you have to pay withholding taxes on your property and the income generated from it. There are some situations where you can get permission from the government to retain your residency status even from afar, but you would have had to apply with them for this (generally before leaving the country). If you want to find out your curent residency status as per the CRA, please click here.
Who Inspects My Unit and When?
Keeping an eye on your property is important. We document a detailed move in report with new occupants showing the condition in which they received the unit, upon their move out we will compare the reports to determine the tenants care of your unit and any maintenance that may need to be addressed. Additionally we try to visit units every 6 months, however, as we do not want to continuously bother good tenants we do judge this on an independent bases. General wear and tear should be expected when you rent out your property and cant not be held against a tenant as per the landlord tenancy act. Tenants are responsible for any damages or misuse of the property.