The questions owners of 5 to 100 unit buildings ask us most, with the same answers you would get on the phone.
What does KEILTY charge to manage a small multi-family building in Ontario?
Full Service is 7% of EGI + HST, billed monthly. The fee is a percentage of what your building actually collects, so we are paid to keep units full and rent flowing, not to send invoices.
What is EGI, and why is the fee based on it?
Effective Gross Income is the income your building actually collects: gross rent plus other income such as parking, laundry and storage, less vacancy and uncollected rent. Because the fee is a percentage of EGI, we are paid on real collected dollars. When units sit vacant, we feel it too.
What is included in Full Service?
Full-service management of your building: leasing oversight, rent collection and arrears, maintenance coordination, vendor management, per-door reporting and Landlord and Tenant Board handling, with a dedicated manager on the file.
What does it cost to lease a vacant unit?
The leasing fee is one half of one month's rent + HST per placement, billed at occupancy under your management agreement. It covers professional photography, strategic advertising, comprehensive screening with background, credit and reference checks, and digital leasing.
Are there any other fees I should know about?
Four charges and two things that are not charges, all listed on this page. The charges: lease renewal at 25% of one month's rent, only when an existing resident signs a new fixed-term lease and nothing when the tenancy continues month to month; a one-time onboarding and property setup fee of $190 per owner bank account, plus $375 per property unit type, plus HST, when your building joins KEILTY; maintenance coordination at 10% of invoice on repair work we coordinate, including emergency work; and a leasing engagement deposit of $500 + HST, credited in full against the placement fee. The other two are not fees: we fund advertising up to 50% of one month's asking rent per unit, and past that cap or after 90 days on the market further advertising is at your expense with your written approval; and you hold the greater of $1,000 or one month's operating expenses in trust, which stays your money. That is the complete list.
What size of building does KEILTY manage under this service?
Buildings of 5 to 100 units: too big to self-manage and too small to get real attention from the big firms. KEILTY owns and operates buildings exactly this size across Ontario, with local teams in Eastern Ontario centres including Kingston, Belleville, Brockville, Cornwall, Ottawa, Peterborough, Cobourg and Trenton. See our locations page for the full list.
How do you keep units from sitting empty between residents?
Units are listed fast, showings are scheduled, every lead is tracked, and we pre-lease before the current resident moves out. Turnovers are scoped and scheduled, vendors are vetted and held accountable, and the work is documented with photos.
How do I get started?
Request a free building review. We review leasing velocity, arrears, turn timing, maintenance backlog and pricing against the local market, in writing. You can also call 613-545-3322; a senior manager handles every multi-family conversation.
