SCOPE OF SERVICES
Condominium Management Services
- Review, implement and enforce all Corporation declaration, bylaws and rules, make recommendations for modifications.
- Work closely with the Board of Directors and provide professional advice to the Board of Directors.
- Emergency contact number and services available 24 hours/7 days a week.
- Keep an open line of communication with owners and handle homeowner requests, prompt response to all correspondence.
- Negotiate, obtain & execute bids/proposals on behalf of the Board of Directors. Secure bids and contract for repairs, maintenance services and insurance.
- Schedule & oversee works approved by the Board of Directors.
- Maintain relationships with outside contractors and personnel.
- Conduct on-site property inspections on a regular basis. Identify maintenance issues through weekly site inspections.
- Establish preventative maintenance procedures and schedules for common areas.
- Arrange for and co-ordinate all Board Meetings, Special Meetings, Annual General Meetings, Information Meetings, etc.
- Attend Board meetings and the Annual meeting as specified.
- Work with other professional organizations (i.e. Reserve Advisors, Chartered Accountants, solicitors, appraisers, assessors, financial analysts, and insurance companies).
- Approval of original Invoices with supporting documents such as purchase order
- Arrear collection policies and procedures
- Levy of any collection of late interested on arrears.
- Issue notice of lien, register and discharge liens
- Draft & prepare annual budget for approval by Board of Directors.
- Policies regarding handling cash, signing corporation cheque, contracts.
- Purchasing policies and procedures
- Monitor spending per annual budget to ensure compliance with expenditures guidelines.
- Develop a reserve fund plan to ensure adequate funds are available for future capital expenditures.
- Arrange for annual audit for the corporation
- Set up operating & investment accounts in the Corporation name.
- Set up and maintain financial records in accordance with generally accepted accounting principles.
- Process Corporation dues checks & deposit into bank.
- Process all approved invoices.
- Maintain and reconcile bank/investment accounts.
- Provide easy to read monthly financial reports, detailing current budgetary position, monthly disbursements, bank balances and reconciliations, common expense arrears, and investment summary.
- Maintain up to date and accurate unit owner & contractor rosters.
- Draft Board meeting packages including an agenda, meeting minutes, property manager's report and financial statements.
- Provide a disaster/emergency planning handbook to all owners (post Affable Property Management sign on building) upon request.
- Maintain a maintenance schedule, activity log, list of capital improvement and replacement projects, short & long range maintenance programs.
- Produce Corporations' correspondence, meeting notices and minutes, newsletters.
- Maintain all corporation files at the Management office. Out dated files may be kept on-site where designated.
- Arrange for and co-ordinate move-ins, move-out and elevator use. Preparation of Status Certificates at a nominal charge.
- Administer condominium questionnaires for refinancing & resale purposes.
Additional Services