Landlord & Tenant FAQs

Landlord: What are your Property Management fees?

Tribond Property Management Inc. offers several different packages which allows you to customize the specific services you are looking for such as Full Service management, Tenant Leasing, Maintenance, etc.  Costs can vary depending on the package you choose and after speaking with our team, we would provide a proposal based on your specific requirements. The package most commonly chosen by home owners is our Full Service management package, with a cost of 8% of monthly rent (appx. one months annual rent).

Landlord: Describe the process of attending to a service call?

When we receive a service call, we start by trying to diagnose the problem. We first try to assist the tenant over the phone, and if that is not successful, we go to the property free of charge to asses if we can be of further assistance. If we decide a contractor is required either to diagnose the problem or to perform work, the owner of the property is notified and a contractor is booked as soon as possible. Before and after pictures are taken for each work order

Landlord: What happens in the event of an after hours emergency?

If we receive an emergency call between the hours of 5pm and 8am, we dispatch one of our on-call staff who will stabilize the situation either over the phone or in person. In the event our team is required on site, stabilizing the situation is our first priority and the final repair will be completed during regular business hours.  The landlord will be notified immediately following the call, or the next day if the call takes place in the middle of the night. 

Landlord: Can a landlord deny an applicant if they have pets?

During the application process, a landlord is allowed to deny an application on account of pets. However, if a tenant moves in and subsequently gets a pet, the landlord cannot evict them for this reason, regardless of what their initial application indicates regarding pets. 

Landlord: How much money will I save?

There are several ways a Property Management firm can save a landlord money. These include issuing annual rent increases to tenants, finding high quality tenants using our screening process, minimizing vacancies, completing proactive inspections, providing contractor pricing for maintenance work, providing prompt emergency services, issuing notices to tenants promptly in the case of damages or non payment of rent, and representing you in tribunal if warranted.

Landlord: Are Property Management fees tax deductible?

Property management fees are tax deductible. This means that these expenses can be held against the income your property generates, minimizing your tax bracket and ultimately paying less in income tax.  

Landlord: What if my tenants don’t pay?

Rent is due on or before the first of the month.  If payment is not received, the Tenant will promptly receive a non-payment of rent formal notice indicating when rent is required, or tenancy can be terminated. We continue ongoing communication with the tenant until rent is received or a payment plan is in place. 

Landlord: What is my property is damaged?

Being proactive is the best way to avoid potential damages to your property.  Completing semi-annual inspections allows for the property to be inspected, and for both tenant and property manager to voice requests or concerns related to the property. In the event that your property is damaged, we will notify you immediately and have our team do any necessary repairs. We will communicate with the tenant to have the costs of the repairs covered, and issue notices to the tenant if necessary. We believe maintaining a positive relationship with tenants is paramount to solving potential problems. 

Landlord: How do you find Tenants?

Finding tenants within Kingston and the surrounding areas has been relatively simplistic over the last couple of years, because the vacancy rate has been appx 0.6%.  Because of the high demand and low supply of rental units, owners have the benefit of having options when choosing a Tenant that suites the property best.  That being said, finding a tenant in a demanding market can be a daunting task due to the high demand. Taking the time to screen tenants thoroughly in order to minimizing your liability is an essential part of our services and should be a landlord's top priority.  At Tribond Property Managements Inc.  our firm completes a 4 tier process when screening prospective candidates. We evaluate credit history, look into past tenancies, verify employment and income, and speak with references, all to get an idea of whether or not this person would be a good fit for your property. Once we believe we have found a suitable tenant, we will contact you with the details to obtain your approval. 

Landlord: How can I trust a Property Management firm to take care of my property?

We understand the challenges of handing over the keys to your investment property to a management firm. Income properties often signify significant future plan such as retirement, children's education, and long term savings.  At Tribond Property Management Inc., owners can be as involved as they would like to be. We encourage owner to be involved in the approval of tenants, because ultimately it's your investment and knowing who will be living in your home can help put your mind at ease. We are a BBB accredited company and thrive to provide services based on quality, integrity and trust. 

Landlord: What can we expect when hiring a Property Management firm?

When hiring Tribond Property Management inc., you can expect professional service, ongoing communication, and peace of mind. Several of our clients who self-managed their investment properties before coming to us have said, 'why didn't I hire you sooner?! My tenants are taken care of, my accounting is complete, rent is in my account, and your fees are tax deductible!' Furthermore, several of our clients have decided to purchase additional income properties once they realize how much easier it becomes with a property management firm. Many private landlords who self-manage can have an emotional connection with their home or with their tenants, and consequently fail to treat their investment property as a business. We know this business through and through and will use all of our resources to provide you with the best possible service. 

Tenant: How do I pay my rent?

Payments are received via automatic withdrawal or post dated cheques. You may also arrange to make cash payments in person.

Tenant: When is rent due?

Rent is due on or before the first of the month. 

Tenant: Can property managers deposit post-dated cheques anytime they want?

We are unable to deposit cheques at our leisure. Cheques, including those post dated, can be deposited on or after the date indicated on the cheque.

Tenant: Is Automatic Withdrawals safe?

AW is a very safe method for paying rent.  Withdrawals are only completed on the 1st of the month, or the following business day if the 1st lands on a weekend.  If a Tenant ever feels uncomfortable about Automatic Withdrawals, they can simply phone their bank to suspend future withdrawals. 

Tenant: What is the difference between subletting and assigning?

Subletting occurs when a Tenant temporarily moves out of the premises and rents their room or unit to a subtenant. The rules and regulations of the Lease Agreement continue to apply to the Tenant. Therefore, the Tenant will continue to pay their monthly rent and care for any damages caused by negligence or abuse.  In this scenario, the Subtenant becomes the responsibility of the Tenant. The Tenant must receive the Landlord's written consent to proceed with a sublet.

Assigning occurs when a Tenant permanently moves out of the rented premises and transfers their agreement to a new Tenant. The Tenant must receive the Landlord's written consent in this situation as well