Notable Projects

​Simplified Rentals has what it takes to help you succeed no matter what the undertaking. Please check out one of our notable past projects below to learn more about what we’ve accomplished!

BACKGROUND

Simplified Rentals assumed management of a 158 unit high rise apartment building at Jane and Sheppard in 2006.

There were a number of obstacles to overcome, including:

  • Extremely high tenant arrears and poor collection efforts
  • Poor tenant screening and credit verification
  • Inefficient contractors
  • Run down and outdated rental units

The previous management team was ineffective and operating costs, particularly renovation costs, were unsustainable.

Relying on our trusted team of contractors we quickly got these costs under control while simultaneously improving the quality of the renovations. Much to our client’s satisfaction, within four short years, we managed to turn our client’s annual loss of $450,000 into a profit of over $400,000. We did this by replacing non-paying tenants with reliable ones, applying sanctioned rent increases, and drastically reducing operating inefficiencies, including the cost of renovations.
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We discovered a demand in the area for ‘premium’ units with an open concept, modern design and with higher-end apartment grade finishes. In a market that offers primarily outdated and poorly maintained rental units, we leased these premium units at an average of $350 per month above market rent.

We found that adding these premium units to the building not only increased rental revenue, but also added a desirability to the building that attracted higher quality tenants. This, in turn, reduced our turnover costs.

After all this, there was a waiting list of quality tenants waiting to move in!

ASSET VALUE

We focus not just on protecting capital but also increasing the value of our client’s assets. In addition to improved annual operating results, we managed our client’s capital repair projects, including roof replacement, parking garage repairs as well as many suite renovations and upgrades. In doing so, we increased the appraised value of our client’s property by over $3 million from 2010 to 2013! That’s an impressive rate of return on their investment.

PROPERTY MANAGEMENT

“We have the staff to renovate, the crew to maintain, and leasing agents to get deals signed…”

Ensuring our clients get the most out of their real estate investment is priority one for us.

We understood the importance of an “open-door” policy and made certain that our staff was available to handle tenants’ requests and concerns around the clock. No issue went unresolved.

We implemented an in-house policy requiring all maintenance requests and general inquiries to be responded to within 24 hours and resolved within 72 hours. During the seven years under our management, the building averaged only 10.7 move outs per year!

Combining maintenance, construction, leasing, and financial consulting allows us to create an appealing property that will generate increased revenue streams year over year. Our team employs professional and knowledgeable individuals with experience and training in all areas of real estate management. We would be happy to prepare a proforma analysis to help illustrate how your investment will generate higher returns when managed by Simplified Rentals.

Project Perfomance

Performance revenue Expenses

Ludstone Home Renovation and Rental

The Ludstone property was purchased by Simplified Rentals in March 2012 for $460,000. This 3 bedroom bungalow is located in Etobicoke, just south of Dixon Road in between Kipling and Martin Grove.This single family home presented an interesting challenge for Simplified Rentals: Creating two distinct, and self-contained rental suites with individual laundry, separate entrances, and high-end finishes. The property is close to schools, TTC, parks, shops and the airport, making it an ideal rental opportunity.

The house was originally rented in “as-is” condition for 11 months at $2,375 per month and renovations were planned and scheduled for the spring of 2013.

Just like our property on Jeffcoat Drive, the entire house, top to bottom was remodelled. The main floor now boasts a combination of rich, dark, espresso hardwood and designer tile.

A “top of the line” kitchen was purchased and installed, and the two walls dividing the kitchen from the living room and dining room and the hallways were removed allowing for a completely modern open concept layout.

The small closet in the third bedroom was removed as was the “cubby” in the kitchen that housed the recessed refrigerator. This allowed for the perfect pocket of space to house a stackable washer and dryer unit.

The basement also underwent a complete overhaul, which included a brand new three piece bathroom and the conversion of the exceptionally large cold room into a reasonably sized second bedroom for the basement suite.

Crown moldings and high baseboards finished off the basement, living/dining rooms, bedrooms and hallways.

All in the renovations took about three months to complete and cost approximately $68,000.

Project Perfomance

The property is still owned and managed by Simplified Rentals. Both units are occupied bringing in gross rents of $3,000 per month. To top it off, in 2014 the house was appraised for $620,000. That’s a net increase of $92,000!

Jeffcoat Home Renovation

The Jeffcoat property was purchased in November of 2009 for $348,500. This 4 bedroom, two-storey detached home is located in Rexdale, just north of Rexdale Blvd off of Martin Grove Rd. The property had a superb floor plan and is close to schools, TTC, parks, shops and the airport.

The property was the perfect opportunity for the Simplified construction crew to showcase their skills.

The remodel began in late 2010. The entire house, top to bottom was remodelled. The main floor was carpeted with beautiful plank oak hardwood underneath. The hardwood is original and was laid in the 1960s. The floor was in such immaculate condition that we were very easily able to sand and refinish with a dark, rich, espresso colour.

Ceramic tile replaced the old, tired and severely worn linoleum throughout the entrance, kitchen, and main floor powder-room, and a modest Ikea kitchen was installed to replace the old, particle board and melamine cabinetry in the kitchen.

The tiny and non-functional “eat-in-kitchen”, which contained a two person round table (cemented and bolted to the floor) was torn out to make way for a sleek and modern raised granite breakfast bar. Black and grey speckled granite countertops replaced the laminate countertops and new lighting fixtures were installed.

The basement was gutted right back to the concrete foundation and studded out with insulation and vapour barrier. A custom wet-bar was built and a partition wall was created to isolate the laundry, creating the ultimate recreation room.

Crown moldings and high baseboards finished off the basement, living/dining rooms, bedrooms and hallways.

The exterior landscape also went through a complete overhaul including the installation of a fully automatic and programmable irrigation system.

All in, the renovations took almost a year (part-time) to complete, and cost approximately $75,000.

Project Perfomance

The house sold in late 2013 for $558,000, netting the owner approximately $135,000. That’s a return on investment of 31.9%!!!

Millview Home Renovation & Rental

The Millview property was purchased in May 2014 for $450,000. This three bedroom back-split is located in Rexdale, just north of Rexdale Blvd off of Martin Grove Rd. The property had a unique floor plan with plenty of opportunity for improvements. Millview is close to schools, TTC, parks, shops and the airport.

With the intention of converting this single family home into an income generating duplex, Simplified Rentals undertook to complete the project in early June of 2014.

The total renovation took almost 3 months to complete as the house was stripped from top to bottom and completely “gutted”. A new electrical panel was installed and the entire house was completely rewired. Plumbing also had to be run up to the second level linen closet to create a self-contained second laundry room. The main floor now boasts a combination of rich, dark, espresso laminate flooring and designer tile throughout the kitchen and hallway entrance.

A sleek and modern, white kitchen was purchased and installed, and a “pass-through” was created between the living room and kitchen. This allowed for optimal separation and privacy, while still keeping with the “open-concept” trend. The wall dividing the dining room and the kitchen was completely removed adding to the continuity of the design.

The stairs to the basement, which came up through the middle of the kitchen, where removed and a new accordion style staircase was installed. The old opening was closed off and a new wall partition was created to separate the kitchen from the side entrance. This allowed for a completely separate entrance to the basement suite.

Crown moldings and high baseboards can be found throughout the basement, living/dining rooms, bedrooms and hallways.

In total the renovations cost approximately $65,000.

Project Perfomance

The young family is extremely happy with the finished product.
The addition of the basement rental suite now brings in $900 per month in
rental income lowering the monthly mortgage payment to less than $700 per month!

500 Rathburn Road

Details coming soon.

Project Perfomance

Performance stats coming soon.

Interested in working with us? Contact us today!