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Condominium Management Services

King Condo Management Condominium Management Services

Condominium Management Services

Posted By josh

See exactly what you should expect from your Property Management company.

  • Bookkeeping
    • Accounts Receivable
      • Collect monthly contributions; automatic withdrawals available
      • Follow-up of delinquent accounts: 30, 60 and 90 day notices
      • Prepare and register caveats and initiate subsequent legal commencement as required
    • Accounts Payayble
      • Issue cheques for payment of invoices; board signature (approval) required
      • Submit government remittance as required
    • Other
      • Monthly financial reporting (optional email delivery)
      • Maintain operating and reserve fund bank accounts and reserve fund investments
      • Prepare records for annual audit as required
  • Administrative
    • Prepare annual “draft” operating budget for board approval
    • Prepare and distribute annual assessment notices and approved budget to all owners
    • Offer assistance with annual reserve fund planning
    • Ensure that insurance policy renewals are in place; provide insurance appraisal “proposal”
    • Prepare and distribute AGM notice and proxy; attendance of AGM is optional
    • Provide documents as requested (ie: for the sale of a unit) in accordance with The Act
    • Register legal documents and document searches at Land Titles office
  • Board Meetings
    • Frequency of attendance per contract
    • Prepare agenda and monthly financial statement packages in advance of meetings
    • Take minutes at all board meetings and maintain on file historical minutes
    • Prepare and/or distribute newsletters per contract
    • Create and mail violation letters and other correspondence to Unit owners as needed
  • Property Management
    • Conduct routine site inspections of the community for the purpose of identifying bylaw violations and checking on the¬†performance of Corporation vendors. Inspections are generally focused on seasonal demands like pool, landscape, drainage, and always include compliance requirements and routine follow up of vendor activity and performance.
    • Provide assistance to Board to enforce all rules and regulations
    • Bids and routine maintenance
    • Prepare bid specifications for larger jobs and oversee bid process
    • Coordinate entire process of handling small maintenance issues in the community
    • Maintenance calls come to our office. Work orders are issued to the proper vendor depending upon the nature of the work
    • Major repairs are inspected by management prior to issuing a work order
    • Manage and oversee all vendors associated with your property
    • By Project Management Contract – Review workmanship/performance of Corporation vendors/contractors and assure compliance is being achieved per the specifications in their contract
    • By Project Management Contract – Coordinate preparation and execution of final contract documentation, including the verification of proper insurance, updated license status, lien releases, etc.
  • Miscellaneous
    • Offer access to our emergency 24 hour answering service
    • Additional services for additional projects available at an agreed service fee