Financial Strata Property Management
This is a general outline of strata property management duties we can perform for the Financial Management of your strata property:
- Maintain operating and contingency bank trust accounts, along with special levy account, as needed.
- Collection of monthly assessment payments by pre-authorized debit.
- Payment of approved monthly invoices which are part of the annual operating budget.
- Transfer approved contingency reserve contribution amount on a monthly basis.
- Payment of extraordinary expenses, as approved by the Strata Council or the Strata Corporation.
- Provide a detailed monthly financial statement of revenue and expenses to the Strata Council, including monthly bank reconciliations.
- Maintain contingency reserve fund trust account or Special Levy trust account in accordance with the Strata Property Act.
- Prepare a forecast budget with the Strata Council and assist in obtaining a depreciation report and insurance coverage.
- Maintain records of the Strata Corporation as required by the Strata Property Act.
- Follow up on delinquent accounts, including fines and recommend legal counsel for registration of liens and legal action if necessary.
- Assist the Strata Council with matters pertaining to the Strata Corporation, Common Property, Common Assets, By-laws and Rules.
- Follow up on general inquiries from owners and act as intermediary for each owner in regards to the Corporation and the Rules and Regulations.
- Prepare Form Fs and Bs as requested by owners, realtors, lawyers and notaries.
- Arrange for the Annual General Meeting or Special General Meetings including preparation of notices, agendas and proxies, organize the meetings
The level of service provided is customized to meet your needs and our fee is negotiated accordingly.