Our role, as agents of the strata corporation, is defined by contract between our firm and the strata corporation. Typically, our role is restricted to the management of common property and more specifically to the maintenance and security of common property.
Services we typically provide include:
- Liaise with Strata Council President regarding day to day matters
- Collect strata fees
- Deposit strata fees into strata’s trust account
- Follow up with delinquent accounts
- Pay common expenses
- Record all financial transactions
- Provide monthly financial report to Strata Council
- Prepare annual budgets
- Offer GIC level interest rates for all funds maintained in trust accounts
- Special levy collection and administration
- Co-ordinate repairs to common property as required
- Schedule regular maintenance (eg. dryer vent cleaning, fire safety system inspections, catch basin cleaning, pressure washing, window cleaning etc.)
- Solicit quotes for larger projects
- Provide 24 hour response to common property emergencies
Capital Planning (Depreciation Reports)
- Proactive and/or preventative maintenance is recommended to mitigate and control costs
- Taking into account our experience with other strata properties, advise client on pros and cons of proposed maintenance projects
- Taking into account needs and objectives of clients, advise client on funding options with respect to proposed maintenance projects
- Assist clients in meeting statutory requirements regarding depreciation reports
- Co-ordinate reconstruction appraisal
- Assist the strata corporation to purchase insurance coverage from a licensed insurance broker to meet statutory requirements
- Co-ordinate insurance claims on behalf of the strata corporation
- Attend annual general meeting including preparing required notice package
- Attend agreed upon number of Council meetings
- Prepare and circulate minutes of strata meetings
- Physical inspection of properties are conducted in accordance with our service agreements