The 456

Property Management & Lease Up Proposal

Dear Chris, 

Congratulations on the continued progress at 456 Roxton. As discussed, we are pleased to present our proposal to provide full lease‑up services for all units, followed by one year of ongoing property management. 

Our approach is intentionally hands‑on, allowing ownership to remain hands‑off. This includes market‑driven pricing, tenant sourcing and screening, lease administration, and ongoing day‑to‑day oversight. As a local operator, we focus on protecting the asset while ensuring a smooth and professional experience for both ownership and residents. 

Eco Flats plans, builds, and operates multiplex residential properties. Since 2012, we have owned and operated 14 rental apartments across five properties, and currently manage an additional 18 units for external clients across four properties. All 32 units are located within a three‑kilometre radius in West Toronto. Many of these properties were designed and built by our team, giving us direct familiarity with the systems, materials, and long‑term operational considerations involved. 

For these reasons, we believe 456 Roxton is a strong fit for our portfolio. 

Property operations will be overseen by Jeremy Caulfield, Operations Manager, who will serve as your primary point of contact and work directly under my supervision. 

Once the first tenancy is secured, the property will transition seamlessly from lease‑up into steady‑state operations. 

At Eco Flats, lease‑up and operations are approached as an extension of how we design and build—deliberately, practically, and with long‑term performance in mind. For 456 Roxton, the goal is to establish a stable, well‑run rental property from the outset, rather than simply filling units as quickly as possible.

LEASE‑UP & OPERATIONS APPROACH

Lease‑Up as a Managed Transition 

Lease‑up will be treated as a transition into long‑term operations, not a rush to occupancy. Before the first tenant moves in, core systems such as rent collection, maintenance response, tenant communication, and record‑keeping will already be in place. This ensures the building operates smoothly from day one and sets clear expectations for residents. 

Thoughtful, Cohesive Positioning 

456 Roxton will be presented as a small, well‑considered residential offering rather than a collection of individual rental units. Listings, visuals, and messaging will follow a consistent approach that reflects the scale of the building and the care taken in its design and construction. 

Market‑Driven, Disciplined Pricing 

Rents will be set based on current market conditions while protecting the long‑term value of the property. Where appropriate, limited and clearly defined incentives may be used during lease‑up to encourage early commitments without undermining the overall rent profile. 


Careful Tenant Selection 

In a low‑density property, tenant fit matters. Leasing efforts will focus on working professionals, transit‑oriented renters, and residents seeking quiet, low‑maintenance urban living. The objective is stable tenancies and a compatible tenant mix. 

Clear, Straightforward Move‑Ins 

Move‑ins will be organized, well‑communicated, and easy to navigate. Tenants will know what to expect, who to contact, and how the building operates from the start, reducing early issues and friction. 

Early Tracking of Deficiencies and Warranties 

All deficiencies, appliance warranties, and building system information will be documented early and maintained centrally to support efficient maintenance and long‑term care of the property. 

Focus on Long‑Term Operations 

Day‑to‑day decisions will prioritize tenant experience, building upkeep, and operational clarity over short‑term lease‑up pressure, supporting consistent performance over time. 

Property & Development Assumptions 

  • Address: 456 Roxton Avenue, Toronto, Ontario 

  • Scope: Renovation of an existing dwelling into a triplex with a laneway suite 

  • Use: Long‑term rental asset 

 Project Timeline Assumptions 

  • Pre‑Construction & Site Preparation: September–November (approx. 3 months) 

  • Construction: November 2025–October 2026 (approx. 10 months) 

  • Post‑Construction: November–December 2026 (approx. 2 months) 

Actual timing may vary based on approvals, site conditions, and procurement. 


 

Rent Forecast (Proposed) 

Rents include water. Electricity and internet will be paid directly by tenants. 

  • Unit A – Basement: $2,150 

  • Unit B – Ground Floor: $2,550 

  • Unit C – Upper (2‑Bedroom): $3,500 

  • Unit D – Laneway Suite: $2,900 

Lease‑Up Services 

Our rental and tenant placement service provides market‑informed pricing and full‑service leasing. 

Scope includes:

  • Strategic pricing guidance 

  • Professional listing creation and distribution 

  • Digital unit staging 

  • Marketing and advertising 

  • Inquiry management and showings 

  • Applicant screening, selection, and lease coordination 


Marketing Strategy 

  • Custom on‑site signage installed at the property 

  • Introductory mini‑website acting as a project overview and registry 

  • Early previews offered to known interested parties 

  • Primary launch via Facebook Marketplace with neighbourhood targeting 

  • Pivot to Realtor.ca if required 


Tenant Management Services 

Eco Flats provides full‑service tenant management for a fixed monthly fee, agreed annually. 

Scope includes:

  • Primary tenant communication and coordination 

  • Bi‑weekly exterior and common area walkthroughs 

  • Winter snow clearing and salting 

  • Quarterly HVAC filter changes and system reviews 

  • Quarterly maintenance observations and reporting 

  • Rent collection and administration 

  • Tenant dispute management up to LTB escalation 


Nitty Gritty

Fees & Terms (Summary) 

  • Leasing fees billed at the start of each new tenancy 

  • One month’s rent calculated as a 12‑month average 

  • HST applicable to all fees 

  • Standard one‑year management term 

  • Retainer applied to months 11 and 12 

  • Repairs, extraordinary maintenance, insurance, taxes, utilities, and LTB actions excluded and billed separately 

  • Commercial management agreement to be drafted upon approval