Entrusting the management of your plex to a third party is an important decision. A good manager protects your investment, maintains stable income and frees you from day-to-day operations. A poor one can cost you dearly — in time, money and stress. Here are the essential criteria for making the right choice.
The first sign of a good manager is simple: they can clearly explain how they manage. Not just what they do, but the concrete processes they follow. Ask questions such as:
A structured manager has precise answers. If they are vague or simply say “it depends,” be cautious.
Your manager should provide clear, regular reports: rent collected, expenses paid and interventions completed. Check the following:
Remember: a good manager should never authorize major work without your prior approval. Make sure this threshold is clearly defined in your contract.
In Quebec, rental management is governed by TAL rules. Your manager should understand:
A manager who does not know these rules can expose you to complaints or costly proceedings.
Ask how long the manager has been operating, how many units they manage and what training they have. CPA supervision is a significant advantage because it adds rigour to the handling of funds and the preparation of financial reports.
Before signing, make sure the contract specifies:
You should be able to reach your manager within a reasonable timeframe. Ask about their standard response time and how they communicate in emergencies. An unreachable manager leaves you handling crises alone — which defeats the point of delegating.
Structured management, CPA supervision, monthly reports, TAL compliance and guaranteed response times. Let’s talk about your building.
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