70 leases closed for Toronto landlords since 2015. One month's rent plus HST. No renewal fee. We lease the unit; we do not manage it. You approve every tenant.
†Closed lease trades recorded to Luke Fraser, Royal LePage Signature Realty trade production report, 13 January 2015 to 4 August 2026. "For landlords" = listing-end leases on Luke's own record (team-split trades excluded); "including team deals" = every lease trade in the report over the same period.
Luke Fraser Homes is a Royal LePage Signature Realty team that has leased Toronto condos for landlords since 2015. We price your unit from the leases that closed in your building, list it on MLS, show it, screen every applicant ourselves and write the lease, for one month's rent plus HST. We do not manage the unit afterwards, and you approve every tenant before anything is signed.
Luke Fraser Homes charges one month's rent plus HST. Half a month goes to Royal LePage Signature Realty as the listing brokerage, and half a month is offered to the cooperating brokerage that brings the qualified tenant. The landlord pays it, but not by cheque: the tenant pays first and last month's rent on signing, that money is held in our brokerage's trust account, we deduct the fee plus HST, pay the cooperating brokerage its half, and forward you the balance. If the condo is a rental property, the leasing commission may be deductible as an expense against the rental income. Ask your accountant. Not included: ongoing management after the tenant moves in (we do not offer it), a second photo shoot if you want one later, and any cleaning or painting you choose to do before listing.
178 lease transactions since 2015, including team deals. 125 of them are on Luke's own record, and 70 of those were for the landlord†. The buildings include Neptune, Neptune II and Aquarius at Waterpark City, 38 Dan Leckie Way, 19 Bathurst St, 9 Spadina Ave, 11 Brunel Court, 410 Queens Quay W, Zip Condos at 80 Western Battery Rd, and condos in Liberty Village, King West, the Entertainment District, Church-Yonge and East York.
It depends on the area, the suite type, the time of year and, most of all, the list price. A well-priced one-bedroom in a downtown building with steady lease activity usually leases in weeks rather than months; larger or unusual units take longer, and December and January are the slow months. When we review your building's recent leases we tell you what to expect for your unit, with the days on market of each comparable, rather than quoting an average that may not apply to you.
From the leases that actually closed in your building over the last few months, plus what is listed right now, adjusted for what your suite has that the comparables do not - parking, a locker, the floor, the exposure, furnished or not. Asking rents on realtor.ca are not achieved rents; completed leases are only visible through the board, and that is what we price from. You get a recommended list price with a realistic range, in writing. The final number is a decision we make together.
Suites without parking leased between $2,400 and $2,450 a month. Parking added roughly $200 to $300 a month - two nearly identical suites were $300 apart, and parking was the only difference. One suite listed about $250 above the building's recent leases sat for roughly two months before it came down and leased.
Half a month of vacancy on a $2,450 unit costs about $1,225, which is roughly what a rent $100 higher earns over a full year.
If your current tenant is leaving, we aim to be live on MLS four to six weeks ahead of the move-out date, and we need their written notice - Form N9 or a signed letter - before a new tenant's start date is locked in, so no one is ever booked into a unit that is not actually free.
Professional photos, a full MLS listing and every showing handled by us. Photos are booked while the unit is still clean and furnished, because a furnished suite usually shows better than an empty one. The listing goes on MLS, which feeds realtor.ca and the rental sites that pull from it, and we market it through multiple channels of our own, both direct and indirect. Showings are done only by licensed agents and brokers, with a member of our team present for every tenant who wants to see the property, and are coordinated with your current tenant on at least 24 hours' written notice, so the disruption stays low. If parking or a locker can be rented through the building, the listing says so.
Every applicant goes through the same checks before an offer reaches you:
When an offer comes in you get a summary of the tenant and the terms, with our recommendation to accept, sign back or pass. You approve every tenant. Screening lowers the odds of a problem tenancy; it does not remove them, and no agent can promise a tenant will always pay.
Both parties sign the Ontario Standard Lease, first and last month's rent is held in our brokerage's trust account until move-in, and the condo corporation gets its notice within 10 days.
No. When a tenant we placed renews or extends, there is no fee. We help with the renewal paperwork and with the rent increase notice where the guideline allows one, at no charge.
No. We lease the unit; you manage it afterwards. From move-in day the owner takes over rent collection, maintenance requests, repairs, condo corporation correspondence, and the paperwork at renewal or at the end of the tenancy. If you want all of that handled for you, that is a property manager, not a leasing agent, and our fee does not include it. If you want to own the relationship with your tenant and keep the leasing fee as the only cost, we are the right fit.
Luke Fraser Homes charges one month's rent plus HST to lease a Toronto condo. Half a month goes to Royal LePage Signature Realty as the listing brokerage and half to the cooperating brokerage that brings the tenant; it is deducted from the first and last month's rent the tenant pays on signing. There is no renewal fee and no property management.
For units first occupied before November 15, 2018, Ontario's rent increase guideline is 2.1% for 2026 and 1.9% for 2027. Units first occupied after that date are exempt from the guideline. Either way, rent can only go up once 12 months have passed since the tenancy began or since the last increase, with at least 90 days' written notice on the Landlord and Tenant Board's form.
In Ontario a landlord can collect a rent deposit of up to one month's rent, and it can only be applied to the last month of the tenancy - never to repairs. A refundable key or fob deposit is also allowed, capped at the expected replacement cost. Separate damage or security deposits are not allowed.
Yes. Within 10 days of signing, the corporation must be given notice of the lease and a copy of it. We prepare that for you.
Yes, with proper notice to your tenant - at least 24 hours, in writing. In our experience it helps: a furnished, lived-in unit usually shows better than an empty one, and the gap between tenants is shorter.
A listing agreement with our brokerage for the lease. The term is negotiable; we recommend one to two months, which gives the listing time to be viewed, walked through and shared before it is judged.
Only licensed agents and brokers. A member of our team is there for every tenant who wants to see the property; there are no lockbox-only showings.
Unfurnished is the larger market and the longer tenancy. Furnished can earn a premium with shorter stays and relocating tenants, but it carries more turnover, more wear and an inventory to manage. We will tell you which the recent leases in your building support.
Rent increase guideline, notice periods and deposit rules: Government of Ontario, Residential rent increases (ontario.ca), and O. Reg. 516/06 under the Residential Tenancies Act, 2006, section 17, checked 14 October 2026. Lease notice to the condo corporation: Condominium Act, 1998, s. 83. General information, not legal advice - confirm your own situation with a lawyer or the Landlord and Tenant Board.
Tell us the building and the suite type. You get a recommended range in writing, usually the same business day.
Tell us the building and the suite type and we will send you a recommended range in writing - usually the same business day.