Property Management in London: What It Costs, and How to Self-Manage Instead

Property management fees in London typically run 8 to 12 percent of monthly rent for standard residential management, plus a one-time tenant-placement fee in the $400 to $700 range at each new tenancy. Some PMs add flat monthly fees, maintenance markups (typically 10 to 20 percent on trade invoices), and administrative fees on top.

Concrete example

On a $1,651 per month London rental, here is what the arithmetic looks like over a two-year tenancy:

Total PM cost over the two-year tenancy: $3,718. That is money that comes off the top of your rent income before you see any of it. On a $200,000 property, that is roughly 1.9 months of profit at a 5 percent yield.

Property managers earn their fee. It is not free money. A good PM handles all of the following on the landlord's behalf:

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  Tenant screening and placementadvertising, showings, application processing, credit and reference checks, lease signing.
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  Rent collectionmonthly invoicing, follow-up on late rent, deposit accounting.
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  Maintenance coordinationreceiving tenant requests, dispatching trades, quality-checking work, paying invoices.
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  Move-in and move-out inspectionsconducting written inspections and documenting the property condition.
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  Financial reportingmonthly and annual owner statements for accounting and tax.
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  LTB representationif a dispute goes to the Landlord and Tenant Board (LTB), the PM prepares the file and attends the hearing on the landlord's behalf.
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  24/7 tenant contactthe PM is the point of contact for emergencies so the landlord is not the person answering at 2am.

If you are an out-of-province owner, an owner with 10 or more units, an owner without the time to be responsive, or you simply do not want to deal with tenants directly, all of the above has real value.

Genuine reasons to hire a PM

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  You are an absentee owner.You live outside London or outside Ontario and cannot attend showings, inspections, or LTB hearings in person.
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  You own five or more units.The operational load crosses the line where a dedicated pro is more efficient than doing it yourself.
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  The property is commercial or short-term rental.Different skill set, different regulations, and the fee structure is often justified.
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  You genuinely do not want to interact with tenants.A legitimate lifestyle choice. Your fee is buying peace of mind.
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  You have zero real estate experience and one unit.The learning curve on Ontario RTA rules, LTB, and inspection standards is real. A PM can be an expensive but effective way to skip it.

The flip side

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  You have one or two units.The operational load is entirely manageable with good tools.
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  You live in the London region.You can attend showings, inspections, and hearings in person.
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  You are willing to spend two to four hours a month on the rental.Roughly the time cost of self-managing one unit with modern tools.
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  You want to keep 100 percent of the rent.Not 88 to 93 percent after PM fees.
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  You want direct tenant relationships.Some landlords prefer knowing the tenant themselves; a PM removes that entirely.

SQRFT's leasing plan is designed for the small-portfolio landlord who wants to self-manage without spreadsheets and paperwork. It covers everything a PM does, minus the fee. Current pricing is on the SQRFT pricing page (as the source of truth), starting at $14.99 per month for up to 5 units, then $9.99 per additional unit per month beyond that.

Feature categories

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  Listings.List your London property on SQRFT with photos, floor plans, and integrated applicant screening.
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  Leases.Ontario RTA compliant lease workflow built into the platform.
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  Inspections.Timestamped move-in and move-out inspection reports with photos, ready for LTB if needed.
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  Financials.Rent collection tracking, statements, and receipts for accounting.
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  Maintenance.Tenant ticket system for maintenance requests with a full audit trail.
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  Notices.Ontario RTA notice templates (rent increase, entry, end of tenancy).
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  Disputes.Evidence log and communication history if you end up at LTB.
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  Storage.All lease documents, receipts, and evidence stored in one place.
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  Team.Add co-owners or family members as team users on your account.
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  PM tools.For landlords growing into small portfolios, the plan scales.

Side-by-side math

London is a large university and college town, so its property management market includes a significant student-rental segment centered on Western University and Fanshawe College alongside standard residential management. Fees typically run 8 to 10 percent of monthly rent, with tenant-placement fees usually in the $400 to $700 range, sometimes higher for student-house turnover managed around the academic calendar.

CMHC's Fall 2025 Rental Market Report puts the London CMA's average two-bedroom apartment at $1,651 a month (October 2025 survey), one of Ontario's most affordable major markets, with a 4.0 percent purpose-built rental vacancy rate — the loosest of any Ontario city in this guide series. See the full London rentals page for the complete breakdown.

London's student-driven demand cycle means a meaningful share of local rentals turn over on a fixed academic-year schedule, unlike most residential markets. A PM familiar with that cycle can time placement to minimize vacancy between leases, but a self-managing landlord who plans ahead for the same September turnover window can capture that same efficiency without the ongoing fee.

Not everyone should self-manage, and hiring a PM is a valid choice. If you go that route, ask any prospective London property manager these questions before signing:

1. 1
   What is the exact fee structure?Management percent, tenant-placement fee, lease renewal fee, maintenance markup, administrative fees. Ask for a written schedule.
2. 2
   Do you guarantee tenant placement?Some PMs offer to replace a tenant free if they leave in the first six months. Others do not.
3. 3
   Minimum contract length?Six-month, twelve-month, or open-ended. Understand your out.
4. 4
   Cancellation policy?How much notice, what happens to your deposits and files if you leave.
5. 5
   How do you handle maintenance markups?Some pass invoices through at cost; some add a percentage. Understand which.
6. 6
   How do you handle LTB applications?Included in the management fee, or extra?
7. 7
   Insurance?Landlord's errors-and-omissions insurance the PM carries, plus your own.
8. 8
   Response times?How long for tenant maintenance requests? Emergencies?
9. 9
   How many properties per manager?Fewer is usually better for attention.
10. 10
    References from current clients?Not just the ones the PM picks. Look up reviews independently.

If you have decided to self-manage, here is the standard sequence and how SQRFT handles each step:

1. 1
   List your property.Create a SQRFT listing with real photos, honest description, and correct London rent for the market. Free to list.
2. 2
   Screen applicants.Credit and reference checks integrated. Do not skip this.
3. 3
   Sign a Ontario RTA compliant lease.The SQRFT lease template covers Ontario's mandatory clauses.
4. 4
   Run a written move-in inspection.Legally required. Timestamped and photo-backed via SQRFT.
5. 5
   Collect rent and track payments.Send receipts and monthly statements automatically.
6. 6
   Manage maintenance through the ticket system.Tenant submits, you dispatch, everyone has a paper trail.
7. 7
   At end of tenancy, run a written move-out inspection.Deposit accounting follows under Ontario RTA.
8. 8
   Keep every document in one place.SQRFT stores leases, inspections, receipts, and correspondence for you.

• SQRFT pricing page (source of truth for current SQRFT plan pricing)
• Living and Renting in London, ON (2026)
• Ontario LTB
• CMHC Rental Market Survey (for baseline London rent range)