You should be able to see, in one place and in plain numbers, what your rental earned, what it cost and what was paid to you. That is what our reporting does. It is bookkeeping for the property, prepared from the actual transactions that pass through our trust account, and it is built to hand to your accountant at year end without a single question.
What you get each month
Owner statement. Rent received, management fee, approved repairs and other expenses, and the amount paid out to you, with the date. Every expense line is matched to an invoice you can open.
Payment. Rent is paid out on a fixed schedule by direct deposit, with the statement.
Notes. Anything out of the ordinary that month: a late payment, a repair above your limit, a notice served, a renewal coming up.
What you get each year
Annual summary. Income and expenses for the calendar year by category, in the format accountants ask for, plus the full set of invoices.
Non-resident owners. If you live outside Canada, we help with the withholding and filing requirements that apply to rental income, and we work with your accountant on the annual return. See our guide to the non-resident rules.
Documents on request. Rent ledgers for a tenant dispute, proof of payments for a mortgage renewal, occupancy records for a vacant-home tax declaration.
What we do not do
We are not accountants. We do not prepare your personal or corporate tax return, give tax advice, or audit your books. We prepare the records accurately so the professional who does those things has everything they need. We also do not report in United States formats; everything is Canadian, in Canadian dollars, and the reporting follows Ontario practice.
What you receive
- A monthly owner statement with invoices attached.
- Direct deposit on a fixed schedule.
- A year-end package your accountant can file from.
- Access to everything in the owner portal at any time.
Included in management
Reporting is part of full management at BCR Property Management, 6% to 9% of monthly rent plus HST, quoted in writing.