DASH offers the most for condo and house landlords. Our comprehensive rental management services to landlords comes from the understanding that not everyone’s needs are the same; our tailored services, care, two decades of experience and thorough knowledge is designed to allow you make smarter decisions and improve your property’s cash flow.
Below is a description outlining the services we provide:
Balancing the needs of the collective owners is essential. DASH is a well-equipped organization that can deal with your unique investment needs. We provide our clients with a one stop, full service shopping service for all their real estate service requirements including “Complete Management Service”, personal assistance, a professional atmosphere, and a superior total property management solution. We strive to provide each of our clients and their tenants with professional, prompt, and courteous service. Each of our Property Managers treats all clients and tenants with respect and dignity. Using a condominium rental management service is a solution to save you time dealing with tenancy, maintenance and administrative matters. Moreover, condominium owners are looking for passive rental income. Once the condominium owner starts being involved with the day to day operating of the property it is NO longer PASSIVE INCOME.
Our services are tailored for condo owners to carry on with their life, not worry about late night calls or repairs requests and not give away their weekends to deal with tenancy issues.
DASH’s property management program offer a wide selection of rental and investment solutions allowing condominium owners to either acquire more properties to enhance their passive income or find a professional and complete solution to have the property looked after until the property owner decides to move back in.
If you plan on travelling out of town for at least 12 months, contact us and learn how we can assist you generate rental income, keep a condominium for your kids so when they grow up they could move in or you simply don’t like dealing with tenants, maintenance, building management, accounting and rent collection DASH Property Management is the right choice.
DASH will directly monitor the monthly rent payment by the tenant. We will accommodate payment of operating expenses (monthly maintenance fees, property taxes etc.). The balance of the rent will be wired to the owner Canadian bank account. Monthly summary will be available online to owners with a detailed breakdown.
Tenant’s maintenance requests will be directed to our office which is available 24 hours, 7 days a week via email or phone. Our maintenance coordinator will look after any maintenance request..
Our staff will be available to liaison between building management, tenants and your questions.
Move in and move out inspections including key exchange and tenant welcome package. insuring tenant have their own insurance and utilities are set up for their consumption.
Access to the best rates and property services from contractor and cleaners to legal assistance.
Knowledge of the Landlord Tenancy Act to avoid costly mistakes
Freedom of record keeping and landlording to save you travel and time.
According to the Canadian Revenue Agency (“CRA”), nonresidents of Canada must remit 25% of any rent received as withholding tax by the 15th day of the month following the month during which the rental payment was paid or credited. It is important to know that non-residence tax status is not determined based on citizenship rather on various criteria as outlined in the questionnaire by CRA (look under Useful Forms). For example, Canadian citizens that travelled abroad for work, live or study purposes can be deeded as non-resident for tax purposes. We would be able to assist you in determining your taxation status.
In order to improve our clients’ cash flow we can file form NR6 for our nonresident clients to minimize their withholding taxes. NR6 allows us to withhold 25% of the net estimate income for the nonresident. However, by filing the NR6 form DASH must file the tax return for the client for the same calendar year (January to December).
By June 30th of the following calendar year our office will file nonresident tax returns in order to find whether the client needs to pay tax or should receive a tax refund.
DASH has a track record of thousands of leases to date throughout Toronto which allows us to be on top of the rental market statistics and trends. We excel in properly pricing your property and market it. Normally the standard lease we sign for our clients is for a minimum of 12 months term. If you are utilizing DASH to rent out your unit, we will complete the rental process from start to finish, listing and showing your property, processing applicants with credit and references checks, collecting deposits, preparing the unit for occupancy and coordinating move in with tenants.
Rest assured, we will use professional trades to carry out any repairs. We will try to troubleshoot the matter prior to placing the call as we strive to keep owners operating costs as low as possible. Our representative will be on site to either supervise the work or to confirm it was carried out properly.
DASH is not affiliated with any contractor and we do not get paid by any trade for any work performed for our clients.
We offer substantive experience and knowledge about residential financing and will be happy to assist clients with obtaining the proper financing, as for most owners this is crucial for their investment.
Did you know that the Condo Corporations insurance does not cover you for everything?
We are able to offer you the best Owner’s insurance coverage in the market. This product gives you protection against loss of Rental Income, $500,000 coverage for your suite upgrades, $5,000,000 comprehensive premises liability, and additional coverage with only $1000 deductible on standard claims.
Prior to occupancy of a newly built condominium in Ontario, Tarion, the Ontario New Home Warranty Program, requires home owners to inspect the Condominium unit for deficiencies and to ensure construction was completed as per your agreement of purchase and sale. DASH can complete all the necessary inspections and forms in your absence. Our attention to details and experience in the process, can make it a smooth transition.
You could be entitled to a HST Rebate of up to $30,000 if you use your property for rental purposes.
Many Condo owners are unaware they qualify for the rebate even if the unit is not their primary residence. The Rebate is available If you purchase a newly developed condominium property from a builder and you paid the HST on the purchase of a newly constructed or substantially renovated residential complex or an interest in the complex. The next requirement is that you lease the complex or units in the complex to another person for residential use by an individual. The rebate is not for the full HST paid but only for a portion of the HST paid.
The rebate must be filed within two years after the end of the month in which tax first becomes payable on your purchase.
DASH has assisted owners in recovering Millions in dollars to date. Let us help you get back your money!
In the last 2 decades DASH staff helped hundreds of real estate investors to successfully buy, sell and lease their properties for the right price, at the right place while providing our clients professional guidance, up to date market data and tools to make the easy and right decision. DASH helped many condominium and home owners to realize whether their property is performing well financially and what can be done to increase its profitability. Prior to investing in new property we will be able to outline your cash flow projection, financing options, estimate your closing costs, estimate your price, rental amount and tax implications (HST, Capital Gains and Withholding tax) whether you are a Canadian or overseas investor. Buying real estate in Toronto is fairly straightforward, but turning your investment to a profitable one is quite complex. With close to 2 decade of market experience, proven track record, and up to date knowledge meeting our team could be your best real estate investment decision.
Contact us today to learn if your condo investment future will DASH forward.
Property owners have to file Capital Gains return to report the sale of property regardless if the sale resulted in gain or loss. The return should be filed following the end of the calendar year and allows Seller to account for the selling costs.
When a nonresident sells the property his solicitor is required to withhold 25% of the selling price. The solicitor should file the request for “clearance certificate” to Canadian Revenue Agency (CRA) which might take few months to receive. Once the “clearance certificate” is accepted the solicitor releases the withholding funds less 25% of the gross profit.
Mrs. Y purchased property in 2005 for $45,000.00 and had closing costs of $5,000.00.
Mrs. Y sold her property in 2011 for $100,000.00 and had additional selling expenses of $10,000.00
Upon sale $25,000.00 are held by the seller’s solicitor ($100,000 X 25%)
Upon receipt of the “clearance certificate” the following is calculated:
Amount to be paid to CRA by the solicitor ($100,000.00-$50,000.00) X 25% = $12,500.00
Solicitor to Credit Seller = $25,000.00-$12,500.00= $12,500.00
Capital Gain return is filed to account for the selling expenses and possibly receive additional refund from CRA.