Payment Schedule

DTK Condo Owners
Welcome

Hello New DTK Condo Owners

Your Management Team at Hello Management Services Inc. has assembled some helpful reminders including updates, service agreement templates and payment schedules.

Welcome to Hello Management Services Inc.

In agreement with In8 Developments, Hello Management Services Inc. will offer all DTK Owners rental and management services for their Brand New DTK Condo.

Our team is very excited to welcome you and your new Tenant to our management portfolio. We understand you may have a lot of questions about your suite, rentals, and much more.

For now, we want to begin with the basics and complete some paperwork.

While reviewing the information below, you’ll be able to review and complete steps required to complete your management agreement with Hello Management Services. We will require the documents found below be completed in full for your to redeem any rental and/or property management addendum as part of your agreement of purchase and sale with In8 Developments.

We understand that you may have questions related to the construction or scheduled closing dates for your new condo. Please know that our office does not have information related to construction, closing dates, purchase agreements or similar. The Hello Management Team is focused on securing rentals and offering management services for your rent DTK condo.

DTK Condos. DTK Condos 1 Bedroom Units. DTK Condos 2 Bedroom Units. Downtown Kitchener. Condos Near Market Square. Condos near Conrad Centre for the Performing Arts.

Review the Management Plan

Hello Management Inc. provides two great management options for all new DTK Condo Owners.

Standard Services*

$0

First Year (2022)

  • Rent Collection
  • Lease Signing
  • Tenant Move-in
  • Rent Collection

Premium Services**

3%

Monthly Rent

  • Rental Marketing
  • Lease Signing
  • Tenant Move-in
  • Rent Collection
  • Repair Assistance
  • Tenant Assistance

*Standard management services are included at no cost to the condo owner within the first 12-months of the management agreement providing the condo owner has received paid-for rental and management services within their agreement of purchase and sale from the builder. If free rental and management services are not included within the condo owner’s agreement of purchase and sale, the option to secure services will still be provided to the condo owner at full cost. Full cost is valued at 1-month of rent for securing a new lease + 2% of collected monthly rent billed on a monthly basis. 1-month rent fee for securing a new lease is only applied when a new lease is secured for the suite, there is no annual fee when a lease or Tenant renews. 2% of collected monthly rent is charged monthly when rent has been collected. Non rent collection results in no monthly fee.

**Includes all features within the standard rental and management service + Maintenance Coordination. Valued at 3% of monthly rent collection. This cost is not included within the paid-for services provided within the builder’s agreement of purchase and sale and will be paid by the condo owner on a monthly basis in addition to the paid-for services provided by the builder.

Payment Schedules

Please review the below payment schedule. This will outline how and when monthly rent will be collected by the Hello Management office and forwarded to your bank account on file.

Standard Payment Schedule

A Standard Payment Schedule will offset the time our office collects monthly rent from the Tenant, and the time our office dispenses monthly rent to the Owner by 1-month.

This way, our office has approximately 1-month to collect rent from the Tenant without negatively affecting the Owner’s monthly income. Each month the Owner will still receive 1-month of rent, but the amount they receive will be the amount our office collects from the Tenant the month before. This strategy was designed to ensure the Suite Owner’s cashflow is not disrupted should a Tenant fail to pay rent a few days late.

Monthly rent is scheduled to be sent to Owners after they have completed final closing. Monthly rent will also be provided during the first week of every month. This means that if you have not completed final closing, you will not yet receive rental income. If you have completed final closing, then you will receive both your first month and last month rent payments during the second month of the lease term.

Special Note:

1. If you have received a promotion from the builder where you are entitled to 1-year of paid for rental services through Hello Management, our office has received and recorded your promotion and the deductions for the Standard Service Package will not be applied as outlined on the Payment Schedule.

However, instead of receiving your last month rent deposit during the first month of the lease agreement, you will instead receive these funds during the second month of the lease agreement. Our office will have to first ensure the payment for the rental fee normally collected during ‘month-1’ is collected from the builder before these funds can be transferred.

2. If you have signed for the Premium Service Package, as a reminder, you will receive monthly deductions of 3% from collected rent each month.

3. If you have not received a promotion from the builder where you are entitled to 1-year of paid for rental services through Hello Management, then all fees included within the payment schedule will be applied.

Additional Updates

Please review the additional updates below. These are a collection of updates sent to Owners who may want to easily review mass-emails sent to their account from Hello Management.

Nov 1, 2022
Welcome Update