Q: How does Woodsview determine its property management fee?
A: We take into consideration the location, age, and size of the property. For instance, our rates are lower for buildings that are close to our offices, need few upgrades or hands-on management time for maintenance or capital improvements, and offer numerous units for management.
Q: How does Woodsview determine the value of my rental property?
A: We perform a market analysis by analyzing the current rents available in your area for similarly sized and renovated units.
Q: How does Woodsview select tenants?
A: We ask a lot of questions, use tenant questionnaires (rental applications), follow up with previous landlords and employers, ask for credit reports, and conduct background searches (as requested by owners).
Q: Are maintenance and repair fees included in the Woodsview management fee?
A: No. Owners pay for all maintenance and repair fees, unless, in a rare circumstance, the tenant assumed responsibility.
Q: Will Woodsview make all financial decisions on my behalf?
A: No. Woodsview handles many of the day-to-day decisions, but owners will set a maximum discretionary budget for maintenance and repairs. The only way Woodsview would ever exceed this limit is if an emergency situation occurred (e.g., unit flooding) and Woodsview was unable to contact the owner.
Q: Does Woodsview charge any fees for inspections, showing the unit, visiting the property, or for handling rental applications and new leases.
A: No. Unlike many other companies, these services are included in our fee.
Q: How does Woodsview handle the listing process?
A: We perform an inspection of the unit to ensure it is in move-in condition (e.g., no maintenance issues, painted walls, cleaned floors, etc.). We will then have professional-quality photos taken of the unit (if the unit is listed vacant, or we will wait until the unit is vacant and cleaned to take better photos). We will then list the unit on various online and social media outlets.
Q: Do owners get to approve the lease terms?
A: Yes and No. As of April 2018, all landlords must use the Ontario Standard Residential Tenancy Agreement. Many landlords do not know this, unfortunately, which is why we are here! There’s a place to add additional terms though, and we’re happy to include any extra terms that are enforceable in Ontario.
Q: How do I know my rights as a landlord?
A: Check out the Important Info link under the Owners page for the Ontario Residential Tenancies Act. We’ve also included some flyers in the download section of that page, which are from the Ontario Landlord Tenants Board.
Q: What happens if I have a bad tenant who doesn’t pay rent?
A: Woodsview has you covered. We’ll notify tenants of late rent and we’ll handle the process from serving notices to managing any relevant landlord tenant board or small claims actions.
Q: Does Woodsview make sure my rental property is safe and secure?
A: Yes. We’ll inspect the property before we begin managing and make recommendations for increased security. We’ll also work with you to create fire safety plan in compliance with Ontario fire codes.
Q: Can Woodsview help me find future investment properties?
A: The Woodsview team includes some real estate agents who we are happy to put you in contact with. Woodsview offers a free consultation regarding recommended areas to buy, but obviously owners would owe normal fees to real estate agents if the owner chooses to purchase a property.
Q: How does Woodsview handle emergencies?
A: Woodsview has a 24/7 emergency line for tenants to report any needed emergency repairs. Tenants can also submit maintenance tickets via our online Tenant Portal. We will send a trusted maintenance person to handle the situation.
If you have any additional questions, feel free to send us a message on our Contact Us page. You can also check out our Helpful Info page for owners, including link to Ontario Landlord Tenant Board by clicking the link below!