Casalova completes acquisition of property management group

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A full-service online real estate market place has completed its purchase of My Property Managers, a professional property management group that handles residential real estate in the Greater Toronto Area.

Casalova—which operates in 140 Canadian cities and also serves as a licensed brokerage—announced the acquisition of MyPM’s $35 million in assets under management. The transaction represented Casalova’s first acquisition since it started in 2014.

As part of the deal, all current MyPM customers will benefit from a $50,000 rent guarantee and $50,000 in vandalism protection.

“We believe in creating a seamless one-stop experience for our clients. This means that people can now buy, rent, manage, and sell properties all through Casalova,” CEO and co-founder Ray Taaeb said. “Our clients have been requesting property management services for some time now and we’ve been testing it privately since January.”

“Creating this experience will streamline the entire process as we move towards our vision of creating a full-service solution to become the go-to real estate platform for Canadians.”

MyPM CEO Carole Charbonneau expressed enthusiasm for the union.

"We’ve been using Casalova for a couple years now to rent our properties and saw that the company was ahead of the curve in transforming the real estate industry with its offerings.”

“We’re incredibly excited to be joining the company and for our clients to have access to the resources of Casalova along with their protection packages. It’s a win-win for everyone,” Charbonneau added.