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Condo Management Services

Karen King & Associates Inc. Condo Management Services

Condo 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 Payable
      • 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

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Condo Management Real Estate