Accounting is fully computerized using a program that is designed for property management. Clients receive monthly reporting that includes a balance sheet and income statement outlining all accounts along with a comparison to the budget on a monthly, year-to-date, and last year basis.
Monthly management reports are available monthly. Project reporting is provided on an as required basis. Meeting minutes are taken by the strata manager and distributed to all owners. Agendas are distributed by strata manager prior to any meeting in order for changes, additions, or deletions to be included.The strata council will request any additional reporting they require.
Maintenance Review and Planning
Long and short term maintenance planning along with risk management planning is essential to the successful management of any complex. These plans provide insight into the efficiency of building systems and the cost effectiveness of the operation. They provide a foundation for budget planning. They allow the council to schedule improvements in the most advantageous manner. Maintenance planning allows the strata manager to operate in a controlled, cost effective manner as opposed to a reactive management mode that can be compared to putting out fires and which costs far too much in money and frustration.
Bylaws, Rules and Regulations
The Strata Property Act made an improvement over the old Condominium Act however there are a number of deficiencies in the Act that should be counter-acted by the strata corporation’s bylaws. Areas such as insurance, building and unit maintenance, owner’s and corporation’s responsibilities are but a few areas that need to be addressed by the corporation. The most common problem areas in a Strata are pets and renters and clearly defined policies must be put in the bylaws for the strata to function smoothly in these areas.
- Statement preparation
- Budget preparation
- AGM preparation
- Special Levy preparation
- Deposits & special levy accounting
- Accounts payable/receivable processing
- Contingency accounting & investment
- Keep minute book
- Prepare forms as required by the Strata Property Act
- Meeting attendance
- Prepare minutes
- Maintenance planning, long & short term
- Oversee day to day maintenance of strata
- Take calls from owners
- Budget spending monitoring
- Bylaw/rule compliance & monitoring
- Complaint resolution
- Ensure compliance with Strata Property Act
- Consulting services for work not covered in the management agreement
We cover all the day-to-day requirements that ensure the smooth operation of a strata titled community. Contact us to discuss how we may assist your Strata Corporation.