When Nathan Levinson founded Royal York Property Management in 2010, he had no office, no staff, and no safety net. Today his company oversees more than 25,000 rental units valued at over $10.1 billion in real estate assets.

One of Royal York’s signature offerings is its rental income assurance program. It aims to help landlords receive consistent rental payments even if tenants default or vacate early, although individual circumstances may impact the results.
As New York City landlords contend with rising vacancies and market volatility, they may find valuable lessons in this Canadian model, which has shown potential to help mitigate some of these challenges.

The Origins of Income Protection

In traditional property management arrangements, landlords bear the risk when tenants fail to pay rent or break leases. Levinson recognized that this uncertainty could discourage many investors from expanding their portfolios. “I wanted to reduce the concern for landlords,” Levinson explained in a recent interview.

He developed a program that covers up to 12 months of missed rent and legal fees for eviction or dispute resolution, although individual cases may vary. The concept first proved itself in Ontario, where Royal York now operates a 24/7 in-house call center to support both tenants and owners.

Within five years, Royal York had converted skeptics into advocates. Landlords appreciated knowing that their cash flow was more likely to remain uninterrupted even during economic downturns. Tenants also benefited from clearer expectations and faster dispute resolution. “We turned a liability into a service differentiator,” Levinson said.

While many landlords found this model effective, results may differ based on specific circumstances.

New York City’s Rental Risks

New York’s rental market is famously dynamic and unpredictable. High property taxes, strict rent regulations, and an ever-changing population mix can make rental income more volatile than in many Canadian markets.

According to a report by the New York City Department of Housing Preservation and Development, average vacancy rates rose from 3 percent to 4.5 percent between 2023 and 2025, reflecting broader economic slowdowns.

When a tenant suddenly departs or stops paying, landlords often face months of vacancy costs, legal delays, and turnover expenses. Traditional insurance may exclude damages resulting from lease breaks and might not cover legal fees. By contrast, a rental income assurance program could provide a turnkey solution that helps maintain revenue and transfers some of the risks to a management partner.

Adapting the Model to Manhattan and Brooklyn

Implementing a rental income assurance model in New York City requires tailoring it to local laws and market conditions. Levinson notes several key adjustments:

1.  Compliance with Rent Laws

In Ontario, leases are governed by a single Residential Tenancies Act. New York has multiple rent-stabilization and rent-control schemes that vary by borough and building age. Any income protection program must align with those regulations.

2. Premium Pricing Structures

Royal York typically charges a flat percentage of gross rent for its rental income protection. In New York City, that rate might need to reflect higher legal and turnover costs. Preliminary analysis suggests premiums between 4 percent and 6 percent could be viable.

3. Integrated Legal Support
Royal York’s in-house legal team prepares and files notices, represents owners at hearings, and negotiates settlements. A New York income assurance partner would need similar capabilities and deep knowledge of housing court procedures.

4. Data-Driven Screening

The Canadian firm’s AI-powered screening engine analyzes more than 400,000 tenancy records to predict defaults. A New York adaptation could tap local credit, eviction, and income data to refine risk assessments.

By blending these elements, New York landlords could benefit from greater predictability and peace of mind, similar to what has supported Royal York’s growth. However, the success of the model may vary based on local dynamics.

Beyond Income Protection: Building Loyalty

Royal York’s success with its income assurance program goes beyond providing financial protection. The company also invests in tenant retention through loyalty incentives, such as bundled maintenance packages, community events, and digital portals that provide complete transparency.

Landlords who participate in the income assurance model have reported lower turnover and higher satisfaction scores. “We learned early that a rental income protection model is just the entry point,” Levinson said. “What keeps owners and tenants with us is the ongoing service excellence.”

New York City managers could replicate these tactics. Income protection, combined with responsive maintenance, 24/7 support, and tenant benefits, could help position a firm as a market leader in both value and service.

A New Standard for Professional Management

The rise of tech-enabled property management startups has already altered owner expectations in major cities. Royal York’s model demonstrates that innovation does not need to stop at online portals and AI screening. Financial engineering, such as rental income protection, has the potential to redefine risk allocation in the industry.

Nathan Levinson has positioned his company as both a property manager and a financial partner. His next goal is to prove that this hybrid approach works in even the most complex markets. “We believe in reducing friction and concern in real estate investing,” Levinson said.

What Landlords Should Do Now

New York City property owners interested in exploring a rental income protection model should:

1. Engage a Pilot Partner

Identify a management firm with expertise in legal support and tech platforms.

2. Analyze Portfolio Risk

Map lease types, vacancy history, and tenant demographics to estimate potential gains.

3. Negotiate Term

Agree on coverage periods, premium rates, and service levels.

4. Monitor Performance

Track rent collection, vacancy, and legal outcomes against established KPIs.

5. Scale Gradually

Expand coverage to additional properties once the pilot demonstrates success.

By following these steps, New York landlords could adopt a proven model that has delivered stable income for Canadian investors, though it’s important to consider local variations in market dynamics.

The lesson from Toronto to Times Square is clear: when property management embraces income protection, it may offer a win-win for owners, operators, tenants, and communities.

Disclaimer: The information provided in this article is for general informational purposes only. The views expressed by Nathan Levinson are based on his professional experience and research, and are not intended as specific investment advice. Results from the rental income protection program may vary based on market conditions and individual circumstances. Readers should consult with a qualified property management professional before implementing similar models in their own markets.