Do you own a condo and want to rent it ?
SolutionCondo invites you to discover the Harmonie program, exclusive to SolutionCondo customers, offered by Rentalys Solution, your expert in co-ownership rental and rental management. Harmonie offers all the tools to real estate investors to maximize the profitability of their rental condo, have quality tenants and respect the building’s rental rules.
Renting in co-ownership should not be taken lightly and is often regulated. Many condo owners in residential buildings do not like rental: tenants are often the source of complaints about not respecting the co-ownership regulations and the frequent change of tenant can bring additional risks of damaging common areas of the building.
SolutionCondo, in partnership with its subsidiary Rentalys Solution, has just created a program which aims to regulate rentals in co-ownerships.
Indeed, with the strong rental demand, many tenants will move, particularly into co-ownership. Renting a condo has certain advantages for renting residents and is increasingly popular.
The proportion of condominiums offered for rental on the island of Montreal in buildings of 100 units or more, mainly located in the city center, increased, in 2021, from 24 to 31% in the space of one year. In Greater Montreal, nearly 20% of co-ownerships are now on the secondary rental market*. (Source CMHC)
Condos are often more up to date and are attracting more and more tenants, who can access a whole range of services and practice all kinds of activities without having to travel. Condo buildings offer numerous amenities, facilities, common areas or services: terrace, swimming pool, fitness room, common lounge, urban chalet, coworking spaces, parking… even barbecues, saunas or spas, in certain more luxurious condo buildings.
Before renting your condo, you must make sure to respect the basic rules of rental in co-ownership and avoid the usual pitfalls in order to avoid problems with the co-ownership syndicate.
If you own a condo and want to rent it, and you do not want to take care of these steps, you can use the expert services of Rentalys Solution by selecting the Harmonie program.
You will have access to a team of professionals experienced in rental management and property management who master the specificities of co-ownership rental. All steps are taken care of in order to rent your unit to the best tenants and at the best price.
Harmonie is a program offered exclusively to SolutionCondo clients which supervises and improves the rental process for co-ownership units. The program ensures in-depth verification of candidate tenant files and effective communication of co-ownership documents to the parties concerned.
The initiative was born from a recurring need for co-ownership managers to obtain information on residents and ensure due diligence in order to avoid the presence of bad tenants in their building.
Indeed, tenant information is often missing, not updated or incomplete, tenants forget or do not send their proof of insurance, payments are not sent, not signed by the tenants, not available… the same goes for the declaration of co-ownership, the annexes are not linked, which creates problems with the tenants in the co-ownerships…
The Harmonie program will support you throughout the rental and management process of your unit, and also for the administrative and operational aspects.
We will take care of all the steps in order to rent your unit to the best tenants and at the best price.
Our property management service gives you peace of mind throughout the duration of your lease.
We work with UpperBee, the best property management software in the industry, and you have seamless access to it. You will be able to consult the rent summary, current files, your accounting and much more.
We choose our technological tools to optimize your profitability, find the best tenants and increase the value of your buildings!
Relax, Rentalys will take care of your unit. By choosing this program, you are opting for peace of mind, with our call service.
The members of the Rentalys Solution team offer effective rental and management services and valuable advice to maximize the profitability and performance of your rental units, while respecting the constraints of co-ownership rental. Our code of conduct ensures responsible and transparent management.
The Rentalys Solution team also offers professional support adapted to your needs as a foreign investor. They can also act as your tax correspondent (or Canadian agent for non-residents) with the Canada Revenue Agency (CRA). Whether you are a Canadian or non-resident landowner, it is essential to comply with the tax rules, although it can be complex. This involves paying 25% of your net (and not gross) rental income to the CRA each month. For customers residing abroad, Rentalys offers comprehensive services including assistance with reporting rental income and managing advance payments to the CRA on their behalf.
Contact the Rentalys Solution to find out more.
* Secondary rental market units are units that are available for rental but were not built specifically for the rental market, such as rented condominiums.
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