Photos: James Bombales
Motivated by Toronto’s hot housing market, more and more people are buying residential properties in the region for investment purposes. And while new market-cooling regulations like Ontario’s Fair Housing Plan have been rolled out recently, real estate remains a smart and secure investment that is likely to appreciate in value in the long term.
However, investing in real estate isn’t just a matter of buying a home, posting an ad online and renting it out. In addition to properly screening tenants and collecting rent, landlords must become familiar with local rental rules and regulations which often differ from province to province. Foreign investors have even more technicalities to consider, including financing options, tax forms and obtaining insurance. Fortunately DASH Property Management is available to help with navigating through the entire process, ensuring a smooth and worry-free experience.
Since 2002, the Toronto-based firm has assisted individual owners and landlords with its comprehensive list of services from rental leases to filling non-resident tax returns. DASH helps you save time and money by completing the rental process from start to finish and offers to work with your realtor. Their services include:
- Tenant and Property management
- Looking after non resident tax requirements and solutions
- Coordinating maintenance and repairs
- Collecting deposits and direct deposits to owners
- HST Rebate for new housing
- Move in and move out inspections
“We are a true reflection of the city’s last 15 years of expansion,” says Kimberly Sears, Vice President of Operations at DASH Property Management. “Since its inception DASH has embraced the city’s real estate dynamics by professionally managing properties on behalf of thousands of local and foreign real estate landlords, offering 24/7 online access to their financials and saving much time and hassle.”
The service is especially useful for international buyers who may not be familiar with the Canadian real estate landscape or Canadian Revenue Agency (CRA) tax forms and policies.
For example, according to the CRA, non-residents of Canada must remit 25 per cent of any rent received as withholding tax on a monthly basis. However, being a non-resident doesn’t necessarily mean being a non-citizen, as Canadians who have travelled abroad for long periods of time can also be deeded as non-residents for tax purposes. DASH will work with its clients to determine their taxation status, minimize withholding taxes and maximize their cash flow.
“We started off with a majority of international clients looking after their non-residency tax filings, HST rebate for new housing and assistance with home insurance,” says Sears. “We now proudly have a large base of both Canadian and international clients from six continents and over 30 countries.”
For new construction homes, DASH will even complete your pre-delivery inspection (PDI) and fill out all the forms on your behalf. Once a lease agreement is signed, the dedicated and experienced DASH team will monitor monthly rent payments, insurance costs and coordinate any necessary maintenance. Plus, all tenant issues will be directed to the property manager’s office 24 hours a day, 7 days a week so there’s no need to worry about fixing leaky faucets at 1am in the morning. Once the issue is identified, DASH will work with you and your tenant to troubleshoot the matter and will be on-site to ensure the work is carried out and conducted properly.
“Our core offering is our monthly management services, however we also offer a full tax filing solution for non-resident clients, HST rebates for new housing, pre-delivery inspections for new condominiums, interior finishes selection with developers and assistance with financing, home insurance and periodic inspections,” explains Sears. “The client entrusts us with arguably their most valuable asset so we always strive to exceed expectations through stringent internal controls and highly trained and certified staff.”
To help you stay organized, DASH offers an online access portal to track legal documents, monthly statement summaries and all accounting breakdowns. The portal also acts as a message centre providing a useful resource for the latest policy rulings and changes to legislation so you can stay informed.
With over 15 years of experience, DASH has successfully worked with the realtor community and cooperated with dozens of Toronto’s leading brokerages. DASH guarantees full exclusivity to its realtor partners allowing them to maintain their clients at the end of the lease term.
Realtors are notified as soon as a tenant’s termination notice is received allowing them the opportunity to reach out to the client to discuss relisting the property. And since DASH can be listed as the landlord representative in the agreement, its own representatives can sign all OREA forms on your client’s behalf, expediting the process while simultaneously protecting their identity.
“Once a real estate deal is done, it is often difficult for realtors to keep in touch with their client and they often end up using another agent in the future,” says Sears. “We acknowledge this challenge and offer solutions by streamlining the way leases are handled. Once the lease is done we act as a CRM system for the realtors and, when the property occupancy status changes, our office will notify the realtor to take action.”
Investing in real estate can be a lucrative and fruitful endeavor. But it takes a lot of time and effort to yield the best results. DASH Property Management can help take the stress out of investing by helping you find high quality tenants, avoid legal and tax issues and obtain the best return on your investment.
As a Brokerage, it’s an added benefit for our Realtors to refer our investor/clients to DASH Property Management,” says Broker of Record and Owner at Re/Max Condos Plus Corp. “DASH manages all tenant issues and provides exceptional property management service which keeps our investor/clients happy. We have enjoyed a strong working relationship over the past five years and we look forward to working more closely together in the future.”
To learn more about DASH Property Management and its full suite of services, call 1 844 7 DASH PM or visit dashpropertymanagement.com.