Property Management

LP Inc. is a property management company that provides management services for real estate investors who prefer to be hands-off. LP Inc. operates in the K-W area; Kitchener, Cambridge, and Waterloo. Services range from tenant selection, accounts receivable, accounts payable, maintenance, and capital improvement supervision.


Property evaluation

  • Prepare documentation and photos of the interior and exterior of the property
  • Recommend improvement options that could attract and retain renters, therefore; maximizing rental rate and increasing profitability
  • Analyze and compare competition rates to determine the optimal rental rate
  • Identify and discuss the pros and cons of pets, children and smoking
  • Analyze the location and property type to determine the target renter

Advertise and show the property

  • Ensure unit or property is move-in ready
  • Ensure landscape and exterior are maintained to increase curb appeal
  • Create and develop an advertisement appropriate for the property to attract and retain suitable tenants
  • Properly publish advertisements to attract target tenants;
    • Rental listing websites, yard signs, print publications, and collaborations with relocation agencies
  • Show unit to prospective tenants
  • Effectively screen prospective tenants to determine suitable applicants
  • Complete the rental application and gather the required documents

Tenant screening and selection

  • Conduct background (via references), income (T4 or pay stub), and credit history checks
  • Perform affordability analysis based on prospective tenant income and expenses (credit report)
  • Rank prospective tenants according to pre-defined criteria
  • Collect last month’s rent and deposit it directly into the property owner’s account

Tenant move-in

  • Complete lease agreement and move-in inspection
  • Verify utilities and other services have been transferred under the new tenant’s name
  • Collect the first month’s rent
  • Manage move-in and coordinate with the new and outgoing tenants
  • Ensure lease agreements are upheld by tenants and landlords

Rent collection

  • Collect monthly rental payments
  • Deposit rent payments directly into the landlord’s bank account
  • Recommend rent increase when necessary


  • Prepare and deliver appropriate eviction notices when appropriate
  • Work with a legal representative or attorney to facilitate eviction or mediation
  • If necessary, coordinate with law enforcement to remove the tenant from the rental property


  • Refer owner to a qualified attorney when necessary
  • Abide by the latest municipal, provincial and federal legislation relating to rental property management
  • Ensure tenants adhere to the rental agreement and take necessary steps to enforce the regulation


  • Perform periodic interior and exterior inspections on a predefined schedule looking for repair needs, safety hazards, code violations, and lease violations
  • Report property condition and status to the owner

Accounts Payable

  • Work in coordination with the owner on accounts payable matters relating to invoices sent to the Property Manager
  • Scan and forward all invoices to the owner for payment


  • Detailed documentation of expenses via invoices and receipts
  • Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
  • Provide annual reporting, structured for tax purposes
  • Provide recommendations on relevant tax deductions related to rental property

Maintenance, repairs, and renovations

  • Establish a preventative maintenance policy to identify and rectify potential issues.
  • On-call 24/7
  • Provide a network of licensed, bonded, and fully insured contractors
  • Assign jobs to different parties (handyman and professional contractors) based on the license, compliance, price, and quality
  • Supervise landscaping, snow removal, and other operational services
  • Supervise capital work as needed

Tenant move-out

  • Conduct move-out inspection
  • If necessary, negotiate with the tenant to repair willful or neglectful damages
  • If necessary, ensure last month’s deposit is returned to the tenant
  • Ensure the unit is renovated and ready for showing and re-renting


  • Monthly activity report to property owners
  • Interior and exterior inspection report to owners
  • Send the move-in and move-out inspection report
  • Communicate any extraordinary event or activity that occurs on the property


Better tenant quality

LP Inc. provides a thorough screening process that results in reliable
tenants who are:

  • Accountable
  • Stay in the unit longer
  • Respect and take care of the property
  • Generally, cause fewer problems

Fewer costly and time-consuming legal problems

LP Inc. is armed with the knowledge of the latest landlord-tenant laws and
will ensure that you are not leaving yourself vulnerable. Some areas include
but are not limited to:

Tenant screening

  • Safety and property conditions of the property
  • Evictions, termination, and notices
  • Inspections
  • Lease addendum
  • Handling security deposits
  • Rent collection

Shorter vacancy cycles

  • Improve and prepare the property for rent
  • Determine the optimal rental rate
  • Effectively market rental property
  • Collaborate with local area relocation specialists and real estate agents

Effective rent collection

  • Rent is collected on time 
  • The eviction process is initiated as soon as possible to reduce financial loss 

Lower maintenance costs

  • Effective management and tenant screening lead to better tenant selection and protection of rental property 
  • Bulk service order with contractors, therefore; commanding a lower service rate

Increase investment value

  • Better tenants lead to better financial performance which results in increased property value
  • Increased profitability leads to increased valuation
  • Effective management leads to better property upkeep and therefore higher property value