OUR SERVICES

OBJECTIVE: To professionally assist you the “Owners” to better manage the affairs of your strata corporation. 
We can provide you with a choice of Professional Service:

We oversee the complete comprehensive governance and financial management of your strata corporation.
OR
We provide a more limited package that covers your strata corporation’s financial management requirements.

 

 



 

 


FINANCIAL MANAGEMENT SERVICES INCLUDE:




PROVIDE & PREPARE
Provide monthly review of the financial statements package with a designated Council representative.
Provide monthly accounting statements of income and expense, budget comparisons, cheque register, invoice copies and the bank statement. A self-auditing system.
Prepare for Councils consideration the annual budget to determine each Owner’s contribution towards operating expenses and contingency reserve.
Keep full and detailed records of the financial transactions and trust accounts of the Strata Corp. and make such records and books available for inspection or audit by authorized parties.
Prepare for Councils consideration the annual budget to determine each Owner’s contribution towards operating expenses and contingency reserve.
Prepare, sign and deliver statutory forms including Form B and Form F.
Provide a welcome package to new owners.
Arrange for an annual audit by an outside accountant of the Strata Corporation’s trust accounts at the strata corporations’ expense as required by the Real Estate Services Act.

MAINTAIN
Maintain the strata corporation’s owner’s registry.
Maintain the Strata Corporation’s Bylaw and Council Rules file by receiving and filing bylaws and rules as supplied by the Strata Corporation and Council.

Maintain trust accounts in the name of the strata corporation to deposit receipts, withdraw funds and transfer funds as appropriate and as directed by the strata corporation.

Maintain separate trust accounts in the name of the strata corporation for both the contingency reserve funds and special levy monies (as applicable).

Maintain the Strata Corporation’s Council Meeting minutes file by receiving and filing minutes as supplied by the Council.

Maintain the Strata Corporation’s Strata Plan file by ensuring there is a current registered copy of the strata plan.

COLLECT
Collect and record monthly strata fees. We process postdated, mailed and delivered cheques together with offering a convenient PAD service.
Demand and attempt to recover unpaid Strata Fees.
Administer lien collection procedures to effect the collection of unpaid Strata Fees and to initiate legal action if so directed by the Strata Corporation.

PAY & RENEW
Make payments for all approved charges and expenses of the Strata Corp. Strata Corp to have signing authority together with the managing agent, or as agreed between the parties.
Arrange for the placement and or renewal of the annual insurance as required by the Strata Property Act.
Arrange for the placement or renewal of the annual insurance appraisal.

 


FINANCIAL MANAGEMENT OPTIONAL SERVICES


We can provide the following Optional services to our Financial Management Services packages:


Attendance at a Council Meeting

A Council may request the attendance of a Strata Agent to attend an additional or unscheduled Council meeting for the purposes of assisting the Council in a specific matter relating to strata governance. The fee for this service would be $125.00 per hour with a two hour minimum. This fee will cover the cost of preparation and research of the matter and attendance at the meeting. Minutes will not be taken by the Agent unless requested by Council.

 

Attendance at a Special General Meeting

A Council may request the attendance of a Strata Agent to attend a Special General Meeting. The fee for this service will be based on $125.00 per hour with a two hour minimum. A quote for services will be provided based on the extent of services required from general advice to assistance in the running of the meeting or to a complete service of notice preparation, attendance at the meeting, minute’s preparation and distribution.

 

General Administration & Consultation

Where a Council has elected to use the Financial Services only package they may request the assistance of a Strata Agent in the preparation of letters to Owners, bylaw/rules review, consultation and preparation or direction for maintenance matters. The fee for this service will be based on $125.00 per hour with a two hour minimum.

 

Special Projects for both Full and Financial Management Services

A Council may request the assistance of a Strata Agent in the procedures necessary to undertake a major or special project such as painting, roof replacement, deck repairs or water ingress. The fee for this service will be a minimum of 2% to a maximum of 5% of the value of the total project. A quote will be provided based on a review of the scope and complexity of the project. A separate services contract for the special project may be required as would potential additional costs for extra accounting procedures as outlined in the Financial Services Agreement.