Property management firm with a small office
Run a local firm managing rentals and small buildings for multiple owners, with a small team and office.
- C$8k-40k
- Full-time
- Own premises
- Licence or permit needed
Estimates for a small start in Canada, not guarantees.
What it is
A small management company with a rented office and one or more staff, handling a larger portfolio of houses, condos and small apartment buildings. You run leasing, rent collection, maintenance coordination, inspections and owner reporting.
Your first three steps
- Check your provincial licensing requirements and speak to your regulator or a lawyer about trust accounting
- Choose property management software and set up a business bank account plus a separate trust account if required
- Build a network of reliable plumbers, electricians and cleaners, then pitch to local investors and real estate agents
Who pays
Investors, landlords with several units, condo corporations and owners of small apartment buildings.
How it makes money
Monthly management fees, typically a percentage of rent or a flat fee per unit, plus leasing fees and sometimes markups on coordinated maintenance work. Income grows with each unit added.
Skills that help
- Leadership and managing staff
- Strong bookkeeping and reporting
- Contractor and vendor relationships
- Sales and networking with owners
Watch out for
- Licensing and trust account rules vary by province, so check with your provincial regulator
- Commercial general liability, errors and omissions and crime or fidelity cover for handling client money
- WCB or WSIB coverage and payroll obligations once you hire (rules vary by province)
- Office lease commitments before the portfolio is large enough to cover costs
- Heavy responsibility for health and safety, fire and maintenance standards in the buildings you manage
- Quebec has its own rules and French-language requirements
Deep research report · Canada
Everything you need to start: property management firm with a small office
Researched with live web search for Canada: real startup prices, the licences and rules, what others charge, a break-even example, how to find your first customers and a 30-day launch plan. With sources.
- Startup costs with real prices
- Licences, registration and rules
- Pricing: what others charge
- Break-even example
- Finding your first customers
- 30-day launch plan
- Risks and how to reduce them
Questions people ask
How much does it cost to start a property management firm?
Startup costs are typically estimated at around $8,000 to $40,000, depending on your office lease, staffing, software and insurance. Committing to a lease before your portfolio is large enough can push costs toward the top of the range.
How much can a property management company earn?
Monthly revenue is typically estimated at around $3,000 to $15,000, depending on the size of your portfolio and your fees. The estimate assumes about 35 or more hours a week, so plan for a full-time commitment.
What licences and rules should I check for a property management firm?
Licensing and trust account rules vary by province, so check with your provincial regulator. Also check insurance for handling client money, WCB or WSIB and payroll obligations once you hire, building safety responsibilities, and Quebec's French-language requirements if relevant.
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