Are you a renter for life?

Performance Property Management

The housing market is constantly changing which can make it hard to decide when you are better of owning or renting?

You may be playing the open house game looking at price, position and attending the open houses but when it is time to commit you may end up deciding that perhaps renting is the better path for now.

If you are an indecisive person, it can be a big decision to purchase a home. It will most likely be the biggest purchase you ever make and before you go splashing that amount of money around you want to be sure that you know what you want. If you find yourself changing what you like in a home or moving regularly then you may not be ready. You need to be able to prioritise your wants and needs before you hand over a large down payment so that when you do make that leap of faith you know what will make you truly happy within a property.

We forget that one of the conveniences of renting is phoning in the problems. When there is a job that needs to be completed you simply call the property manager to organise the repair. The responsibility of majority of repairs falls onto the landlord. This can be an unseen cost that a lot of people do not really consider when purchasing a home.

If you like to keep your options open wether you want to be able to move down the block or across the country then rent. Everyone likes a certain amount of freedom and having just seen the recent recession it was evident then the amount of people who were desperate to find buyers for there homes. If you desire flexibility to switch careers and/or coasts renting may be the better option for you.

You may be the type who invests their cash elsewhere. For example the stock market or perhaps you you prefer to have some cash on hand for emergencies. You might not like the idea of tying up all your funds into buying a home. If you want flexibility to choose where your money goes, buying a home might not be right for you.

Understanding the ins and outs of owning and purchasing a home can be complicated. Between the mortgages and taxes, there is a lot to learn. There are resources out there to help make sense of all of it but, if you want to remain blissfully ignorant you can keep renting.

You might find that you are a renter for life.

Are you pet friendly? If not, why not?

Performance Property Management

It’s a safe bet that every property owner or landlord will confront this question at some point in his or her time managing a rental property. The first thought that comes to mind might be negative factors such as; damage to the property, noise complaints, unpleasant odors. There has been data collected to support the notion that pet owners are financially better tenants in the long term. One study found that rental properties that accepted tenants with pets generated, on average,  $3,000 more per apartment per year.

Other reasons why going pet friendly can be a smart move:

1.     Lower vacancy rates – One study found that rental properties that allowed pets rented on average 10 days faster than non-pet rentals (19 days versus 29) therefore less vacancy time. Accommodating pets means you have a bigger pool of candidates. Consider the fact that 50% of renters own a pet.

2.     Longer lease periods – Pet owners desire longer lease periods. Given that it is often a challenge in the rental market today to find a pet-friendly property, once tenants find a place they like they tend to stick around which means less turn over and hassle for you.

3.     Stable tenants – Pet owners are classified more stable. In addition to staying in one place longer, pet owners are generally more responsible when it comes to taking care of an animal – which means they are likely be more responsible when it comes to taking care of your property too. Not only that, one study found that 65% of pet owners earn over $50,000 a year.

If all these factors are not enough to allay your concerns, remember that a pet deposit serves as a good back-up plan in case minor damage is caused to your property.

Renting verses Buying

Performance Property Management

With the market rising, the ongoing rental costs and constant competition this topic will forever lurk in discussion and debate among people. The idea of renting allows you to live in a home where you are only responsible for wear and tear and not any major repairs.  There is however a few downsides, one being that it is not “your” home, which means no possibility to alter or make major construction, or changes that you desire. Also we can never get rid of that little voice in the back of our heads that is telling us “we are paying for someone else’s mortgage!” However, before you jump to the conclusion that the grass is awlays greener on the landlord’s side of the fence, all aspects need to be considered fairly. The global mail has a rent versus buy calculator (link attached below), which enables you to enter all your details in terms of investment cost and mortgage rates as well as rental details. This also is a great little tool if you are looking to invest. The investment option may be suitable to you as well but all comes down to having a balance and organizing the best method for you. To find out your potential rent income, please contact one of our property management professionals to come and complete a free appraisal.


Expanding Our Downtown Toronto Team

Performance Property Management

2013 has been another great year for PerformancePM.  With the addition of our Private Sales and Corporate Housing divisions we have seen our prominence and client base have both risen in the downtown Toronto real estate market.  We continue to provide our customers unrivalled service.

 Record growth has created the need to expand our professional services team.  We are looking for an energetic personality with the ability to adapt to the hours required of a property manager.   An interview will be provided to the candidate who is self-driven and demonstrates attention to detail.  Property Management and or Real Estate industry experience is an asset. 

 Email a copy of your resume and cover letter to 

PerformancePM Website Update

Performance Property Management

After what has been an amazing year for PerformancePM, we are making fresh changes to the website, so please keep looking for these.

The navigation for our website has been updated with new menu options that will give you an easy understanding of what we offer in terms of services. We have also added a blog that we will be updating every so often. In addition, our FAQ section will provide you detailed information on different aspect of – What and How questions related to property management, corporate housing and private sales.

You can also share and join our social media channels. We hope that you like our new fresh website. Please feel free to comment below and let us know your thoughts!


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