Switching to Bellwood
Changing property managers, or handing over a rental you've been managing yourself, shouldn't unsettle your tenants. Here's how we take over, step by step.
What to have ready
- The current lease for each unit
- Tenant names and contact details
- Rent amounts, due dates and how tenants pay
- Any rent deposit held, and the interest paid on it
- Keys, fobs and alarm codes
- Recent repair invoices and warranties
- Your current management agreement, if you have one
How the takeover works
Quote and agreement
We learn about your property and send a quote. You set the repair spending limit in the agreement.
Notice to your old manager
Check your current agreement for its notice period. We plan the start date around it.
Records and keys
Leases, deposits, tenant details, keys and repair history come to us.
Tenants told in writing
Each tenant gets a letter with our contact details, how to pay rent and how to report repairs.
Baseline inspection
With 24 hours' written notice, we inspect and photograph every unit. You get the report by email.
Rent and deposits
We confirm what each tenant pays, when it's due and whether a rent deposit is held. In Ontario, a rent deposit can be no more than one month's rent and is applied to the last month of the tenancy, and the landlord must pay the tenant interest on it every year. We make sure the records carry over correctly.
Your first statement
From the first month, you get an emailed statement showing rent received, expenses paid and the invoice behind every expense. See a sample.
What your tenants notice
Very little, apart from a faster reply when they report a problem. Their lease and rent stay the same. They get one letter introducing us, one contact for repairs, and a 24/7 number for real emergencies.
Repairs from day one
Repairs under your spending limit go ahead straight away; anything above it waits for your approval. Appliance repairs are done by our own technicians, so a broken fridge or washer doesn't wait on another company.
Common questions about switching
Do my tenants need to sign a new lease?
No. The tenancy continues on the same terms. We tell tenants in writing who to contact and how to pay rent from the start date.
How long does the changeover take?
It depends mostly on the notice period in your current management agreement. Once records and keys are with us, the tenant letters and baseline inspection usually follow within a couple of weeks.
What if my old manager is slow to hand over records?
The leases, deposits and tenant records belong to you as the owner. We'll tell you exactly what's missing so you can request it, and we work from what you have in the meantime.
I've been managing it myself. Is the process different?
It's simpler. You give us the leases, keys and tenant details directly, and we take it from there.
More detail: How to switch property managers without disrupting your tenants
Ready to hand it over?
Tell us about your property and we'll reply with a quote.