Forbes India 15th Anniversary Special

How Royal York property management provides certainty in uncertain times

Royal York Property Management's trajectory over the past decade has been steadily increasing and promises to continue that trend

Published: Dec 16, 2020 01:41:24 PM IST

In a time when employment is precarious, the real estate market is unforeseeable, and rental income is not guaranteed — Royal York Property Management offers its clients certainty.

Their approach is different from other property management firms: they ensure the rights of both landlords and tenants are honoured, property owners comply with federal and board laws, that property owners are guaranteed a rental income, and that both parties receive a fair process.

Founded by Nathan Levinson in 2010, Royal York Property Management has undergone years of experience to become the company it is today. Not only does the company deliver the aforementioned services, and more, but they also level the playing field for landlords and tenants and make foreign property investing accessible.

How Royal York property management provides certainty in uncertain times
Through strategic investment and ingenuity, Royal York Property Management evolved from a boots-on-the-ground company that managed basement apartments into a successful property management firm.

Working with foreign property investors that own condos, houses, triplexes or any form of single-family homes, Royal York Property Management has overseen over 10,000 properties, has 15 offices in Ontario, and has $4.2 billion in assets under management. The company now maintains a portfolio of mainly single-family owners but also works with multi-unit property ownership.

Royal York Property Management has invested millions of dollars into its internal software to streamline its process. They offer in-house services, whereas most property management firms contract out work and cannot guarantee satisfaction.

How Royal York property management provides certainty in uncertain times
Landlords are offered every service they may need when managing a property — from providing legal counsel to supplying handymen to perform property maintenance. This approach is more efficient, cost-effective and offers a satisfaction guarantee. To further their commitment to satisfaction, Royal York Property Management maintains complete control over the quality of work and does not charge until the completed job has the owner’s approval.

Royal York Property Management offers property owners a rental guarantee that other long- term property management firms do not offer. If a property owner experiences a defaulting tenant, Royal York Property Management guarantees the property owner will always receive their rental income. If a tenant wishes to break their lease, Royal York Property Management will find another tenant to fulfill a new one-year lease.

If a tenant fails to pay rent, Royal York Property Management will provide legal services for evictions, and replaces those breaking their lease for free. Royal York Property Management’s in-house legal service can also assist in filling NR6 and NR4 forms — documents that report income from a Canadian source, show their intent to pay taxes and claim income taxes paid to the CRA. Furthermore, they work with landlords that are non-residents of Canada to receive that income back, as long as they have paid taxes in their home country.

Providing in-house legal counsel is paramount for foreign investors and is not a common service provided by property management firms. Property owners will not have to navigate the Canadian legal system alone - Royal York Property Management will be there every step of the way.

How Royal York property management provides certainty in uncertain times
As further assistance, Royal York Property Management’s customizable software allows foreign investors or tenants to, craft a plan to suit their needs. This provides a level of knowledge and control over their properties that is unique to Royal York Property Management. For landlords that own any number of properties, this level of control is vital to keep track of every penny spent.

The software helps screen tenants and protects landlords through the application process and onward. It also ensures that qualified tenants are treated fairly, and that their rights are protected. Tenants can easily and securely fill out and upload forms and documents, upload photos request work orders, and communicate with the landlord during and after the tenant placement process. It’s delineated, straight-forward, and offers no surprises.

Royal York Property Management’s trajectory over the past decade has been steadily increasing and promises to continue that trend. With plans to take their software public, they are continually scaling it and its processes to expand both nationally and internationally.

In the next few years, Royal York Property Management plans to branch out into the United States, with discussions to acquire property management firms in California that require realty licensing to operate. In the meantime, they are dedicated to adapting to the dynamic rental market in Ontario and serving as a leader in their field.

In a dynamic market, Royal York Property Management offers stability. With a decade in the industry, they use every experience to improve their process to provide owners with a solid foundation — to provide certainty in an uncertain time.

With their tenacious devotion to a secure, simple, and fair rental process, there’s no doubt Royal York Property Management will accomplish all of its goals.

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