Residential Property Management
Our Fees
LONG-TERM LEASING: 12-Month+ Lease Term
(The best value & most secure month-to-month income. Note that most potential tenants are seeking long-term accommodation)
| MONTHLY FEE: | 10 per cent of monthly rental revenue collected + GST |
| LEASE FEE: (unfurnished property) |
$250 + GST (maximum two per year) for the placing of a new tenant. Includes all credit checks, key cutting services (excluding high security), website listing, newspaper ad, social media advertising and weekly vacant property checks during tenancy gaps. |
| LEASE FEE: (furnished property) |
$325 + GST (maximum two per year) for the placing of a new tenant. Includes all credit checks, key cutting services (excluding high security), website listing, newspaper ad, social media advertising and weekly vacant property checks during tenancy gaps. Also included is a detailed inventory of your unit completed by one of our team members. |
| LEASE RENEWAL FEE: | $100 + GST for the renewal of any fixed term lease |
MULTI-SEASON: 7 to 11-Month (furnished) Lease Term
(A good option if you’re not sure what your plans for the Property are in the next year+)
| MONTHLY FEE: | 12 per cent of monthly rental revenue collected + GST |
| LEASE FEE: (furnished property) |
$325 + GST for the placing of a new tenant. Includes all credit checks, key cutting services (excluding high security), website listing, newspaper ad, social media advertising and weekly vacant property checks during tenancy gaps. Also included is a detailed inventory of your unit completed by one of our team members. |
QUARTERLY: 3 to 6-Month (furnished) Lease Term
(A good option if you’re not sure what your plans for the Property are in the upcoming months)
| MONTHLY FEE: | 15 per cent of monthly rental revenue collected + GST |
| LEASE FEE: (furnished property) |
$325 + GST for the placing of a new tenant. Includes all credit checks, key cutting services (excluding high security), website listing, newspaper ad, social media advertising and weekly vacant property checks during tenancy gaps. Also included is a detailed inventory of your unit completed by one of our team members. |
MOUNTAIN RETREAT: Minimum 31-day Lease Term Per Rental
(Allows you flexibility to still use & enjoy the Property, but restrictions apply and this service is offered only for select Properties*)
| MONTHLY FEE: | 20 per cent of monthly rental revenue collected + GST |
| START-UP COST: | $500 + GST webpage set up fee (one time only) includes professional photos and 3D tours and permanent listing on our PEKA website with one-year contract. |
| ANNUAL SUNDRY FEE: | $510 + GST sundry charge invoiced January 1 (yearly).Includes all key cutting services (excluding high security), light bulbs, furnace filters, etc. and weekly vacant property checks during tenancy gaps, Also basic start up supplies for guests such as soap, toilet paper etc. |
*Mountain Retreat services are subject to Property specifications and portfolio limitations and may not be available. Speak to an Agent to learn more.
OUR FEES ARE TAX DEDUCTIBLE!
ADDITIONAL COSTS
NOT INCLUDED IN THE RESIDENTIAL MANAGEMENT FEE
| MAIL: |
|
| MAINTENANCE, REPAIRS AND OTHER DIRECT COSTS: |
|
| EXPENSES RELATED TO EVICTIONS: |
|
| EXPENSES ASSESSED TO TENANT*: |
|
*Fees are assessed directly to, and collected directly from the tenant, therefore, the property owner will not absorb these fees.
NON-RESIDENT TAX ADMINISTRATION
(additional cost for non-resident owners –please read carefully)
You are a non-resident for income tax purposes if you:
- normally, customarily, or routinely live in another country and are not considered a resident of Canada
- do not have significant residential ties in Canada and any of the following applies:
- You live outside Canada throughout the tax year
- You stay in Canada for less than 183 days in the tax year
- Our non-resident administration fee is $275 plus GST annually, which partially offsets the additional staff administrative time and significant liability PEKA assumes with non-resident owners and their CRA interactions.
- If you believe you are a non-resident for tax purposes, kindly advise us and we will include our non-resident tax package in the management agreement for your review.