Condo Management
Management of Condominium Corporation assets is an important aspect of our business. We recognize that Condominium ownership is a lifestyle and is operated as a Micro-Community with an elected Board which directs the Manager in regard to the affairs of the building maintenance and financial matters.
Condominium Management is not only the care, control and operation of a building occupied by owners, who choose this lifestyle, but also the management of investments for offsite owners. As a result each Condominium Corporation is unique. DCCI’s administrators will manage your Corporation under the guidelines of the Condominium Property Act, your specific bylaws and your Board’s direction.
Administration
- Conduct regular property inspections, ensuring security of the Owner’s investment and to report all findings to the Board of Directors.
- Attend regular meetings with the Board of Directors, carry out the instructions from the Board and report on actions taken.
- Assist with solutions to any problems experienced by the Board.
- Arrange for and assist in conducting the AGM and notify Land Titles of changes to the Board.
- Supply a copy of all letters written on behalf on the Corporation to the President and Secretary for the Board”s records
- Upon instruction for the Board, monitor and enforce compliance with the corporation’s By-Laws.
- Review Insurance Policy in place, call for quotes prior to renewal.
- Maintain a register of all unit Owners and any Tenants.
- Select, hire and train any employees and subtrades necessary to maintain the Common Property, in co-operation with the Board.
Finance
- Deposit the Corporation’s funds in a separate account, in the name of the Corporation to ensure the security of the Corporation’s funds.
- Prepare and deliver monthly financial statements to the Board which includes the following: Income Statement, Balance Sheet, Budget/Income Comparison, General Ledger, Income Register, Expense Register, and Arrears List.
- Prepare all cheques for payments of account of the Corporation for signature by the designated signing officers.
- Issue Estoppel Certificates upon receipt of written request.
- Prepare and submit to the Board of Directors, a precise, proposed operating budget for the next fiscal year with explanation when required. This includes comparisons with previous year’s figures and current figures.
Maintenance
- Maintain all Common Property, at the instruction and within the budget guidelines set by the Board, in accordance with the By-Laws, making savings where and whenever possible.
- Advise the Board of preventative maintenance and arrange, on the instructions of the Board, all work to be performed.
- Obtain competitive bids for contract services from experienced and trustworthy trades people.
- Advise and assist in the preparation of tender specifications for all work required on the Common Property.
- Advise the Board and negotiate on their behalf, all major contractual work needed to be performed on the common property, including landscape maintenance, snow removal, janitorial, mechanical and security.
- Arrange, supervise and control the quality of workmanship for all work performed on the common property.
- Provide a 24 hour emergency service to handle any emergency service an Owner or the Corporation or may require.