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The Strata Property Act gives the Strata Council certain responsibilities that you must manage. Luckily, the Act also allows you to delegate these responsibilities to a Strata Management Company, so you can spend more time doing the things you love, and let us do the things we love, which is managing Strata Corporations.
In addition to the regular duties that are required by the Strata Property Act some of the extras that are included in our full service management package are:
Meeting Contractors, Arranging Services and Entering Contracts
We understand that council members are volunteers, and aren’t always available to coordinate with contractors. Metropolitan Property Managers will meet with your contractors if required, so you don’t need to dedicate your time to this important task.
In order to maintain the common property of your community, organizing services, hiring and supervising staff, and entering into contracts are just some of the obligations that are essential for a smooth running strata corporation. This can be a timely endeavor for the strata council. Luckily council members are able to delegate these duties to a strata manager. The staff at Metropolitan will continually work your contractors to ensure that your on-site personnel are keeping your property in superb condition.
Seeing Value in your Annual Operating Budgets
It is common to feel as though you aren’t getting a lot in return for the high price of strata fees that you pay. When you have Metropolitan as your Strata Management Company, you will see the value in our services, especially in relation to the competitive prices that we charge. Our staff have a proven track record for operating within budgets and are proficient in mitigating special levies.
Initial and Monthly Property Inspections
Metropolitan Property Managers have extensive training and experience dealing with structural, mechanical, and preventative maintenance issues. We offer our expert advice on repair and maintenance items that are necessary or that we feel could increase the value of your property. We will also meet with your current contractors, and assess their contracts and duties. In order for us to be sure that your strata corporation is running smoothly, we also conduct monthly site visits to your property.
A Professional Relationship
We understand that council members are volunteers, so we want to make sure you have fun, and enjoy your volunteer position. We provide a casual environment while keeping with our professional standards.
Your Strata Corporation is essentially a business, and must be run in an efficient and proficient manner. We will provide open communication with council members, and respond to all owners inquiries in a timely manner. After all, council members and owners need to know the dealings of their corporation, in order to take pride in their home.
Financial Documents and Recording
Preparing monthly financial reports is a skilled task, but luckily our Strata Managers have experience with accounting, so you can talk directly to your Strata Manager rather than waiting to talk to the accounting department.
Collecting strata fees, levies and fines owed to the Strata Corporation are just some of the many tasks involved with running your community. All income and expenses must be recorded and accounted for, and deposited into Trust Accounts. Before paying your bills, we will analyze them to ensure proper billing and approval was made, and see how we can enhance those services in the future.
Management of Insurance Needs and Requirements
A good preventative maintenance program can actually decrease the cost of your insurance premiums and deductibles. With the expertise that Metropolitan provides, we are able to keep your premiums low so you have excess money in your budget which can be used to enhance your community.
Coordination and Attendance at Meetings
Metropolitan feels that effective, and regular meetings are crucial to managing your property effectively. Our staff will attend your meetings and advise attendants on The Strata Property Act, bylaws, and rules in regards to your particular situation. We will also prepare and distribute the minutes to the owners.
Processing of Forms and Strata Corporation Records
In our commitment to saving you time and money, and also being environmentally friendly, we have listened to our customers concerns and started a new system for distributing documents. Upon request, documents are emailed to owners, rather than printed and mailed or having to pick them up at our office. This eliminates your costs for photocopying, postage, and travel costs and the time it take to arrange for pick-up.
We will provide all of the necessary documents to individual owners to facilitate the sale or refinancing of their strata lot.
The following general services are also provided to our clients:
Bookkeeping and Banking Services
- Maintain Trust Accounts for the operating and contingency reserve fund
- Maintain accurate and up-to-date financial records
- Verify and pay invoices
- Collect strata fees and fines
- Create and distribute monthly financial statements to the Strata Council
- Invest funds in a low-risk savings account
- Maintain records for all maintenance requests, replacement records, service calls, warranty information, office records, etc.
- Secure adequate strata insurance in accordance with The Act
Day to Day Operations
- Respond to all owner inquiries in relation to bylaws, rules and regulations of The Corporation and The Act
- Maintain common property and facilitate repairs and maintenance in accordance with the budget
- Issue warning letters and bylaw infraction letters as requested by the Strata Council
- Monthly Site Visits
- Hire, supervise and coordinate contractors and employees
- Purchase the necessary supplies for a preventative maintenance program
- 24/7 emergency phone number
- Prepare and distribute the agenda and all necessary forms for the Annual General Meeting
- Attend, offer guidance and record minutes at the Annual General Meeting (maximum 2 hour meeting)
- Attend council meetings
- Assist the Strata Council with the Annual Operating Budget
- Produce and distribute meeting minutes & notices