Should I Hire A Property Manager?

Hiring a property manager makes sense if you want a hands-off investment or own multi-unit properties, while self-management can work for single Toronto condos.

For many condo investors in Toronto, day-to-day management is relatively simple. With downtown condos averaging approximately $ 700,000 (TRREB, 2025) and rental demand consistently strong near transit and employment hubs, self-management is often manageable—especially with the guidance of a trusted rental realtor to secure tenants and handle leasing paperwork. Condos typically require minimal upkeep, so owners who are willing to respond to tenant inquiries directly may find hiring a property manager unnecessary.

The picture changes for investors with multi-family or mixed-use properties. Managing multiple tenants, units, and maintenance issues can become a full-time job. Even east-end triplexes or midtown multiplexes, often valued well above $1.5M, demand constant oversight. A professional property management company can reduce vacancy, enforce leases, and ensure compliance with Ontario’s rental laws. The typical fee is approximately 10% of the gross monthly rent, which many investors consider worthwhile for the peace of mind and scalability it provides.

At Fox Marin Real Estate Team, we work with investors to assess the economic and lifestyle implications of management decisions. With more than 1,000 successful transactions and over $580 million in sales, our team understands when a hands-on approach is effective and when outsourcing yields better returns. For busy professionals or portfolio owners, hiring a property manager often unlocks the ability to scale without sacrificing time or performance.

Key takeaway: Property management is optional for single-family condos but invaluable for multi-unit portfolios or investors seeking a hands-off, scalable approach.

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