Residential Management provides you with a multitude of services based on your specific needs. We provide 24 hour emergency response to ensure all of your concerns are addressed quickly and efficiently.
We have on and off-site services that benefit your property, ranging from assistance with community events and resident communications to all financial record keeping and enforcement of Condominium Act, Declaration, By-laws and Rules.
We have provided a brief list of our Management Services at a standard Residential Condominium Building.
Building Maintenance & Repairs
- Comprehensive property inspections performed monthly.
- Supervise and liaise with all contractors and service providers to ensure quality workmanship.
- Seasonal facility management.
- Service contract evaluations.
Communication & People Management
- Assistance with Community Events
- Attendance at all Board of Director Meetings
- Arrangement of Worker Education Programs
- Provide the Board with 24/7 emergency contact response
- Preparation of all announcements
- Recruiting, training and education of condominium employees
- Preparation of quarterly newsletters if requested
- Issue welcome packages and resident handbooks to all residents and owners
- Senior Staff Supervisory Support for On-Site Managers
Financial Analysis & Planning
- Performance evaluation and of the financial standing of the condominium corporation
- Preparation of the annual budget
- Arrange for the corporation's Reserve Fund Study, with a qualified engineering firm selected by the Board of Directors. (Performed every 3 years in accordance with The Condominium Act, 1998)
- Review and propose recommendations on energy savings and government rebate initiatives to reduce utility costs
- Consult with financial planners specializing in condominium Reserve Funds
- Negotiation of Preferred Bank Interest Rates
- Collection of monthly common element assessment fees
- Financial Record-Keeping.
- Cheque preparation (all cheques require signatures from the Board of Directors)
- Daily Banking Services.
- Electronic Funds Transfer (E.F.T.) Banking
- Preparation of Monthly Financial Statements
- Preparation of Status Certificates by request
|Management Fees||110,750 + HST||Payable monthly, in advance by way of Pre-Authorized Debit|
|*Employment Payroll Fee||5% of gross annual employee salary + 13% HST||Payable monthly, in advance by way of Pre-Authorized Debit. This fee only applies if the corporation has employees and requests Management place corporation employees on City Sites's payroll account.|
|*Employee Benefits Fee||5% of gross annual premium + 8% RST||Payable monthly, in advance by way of Pre-Authorized Debit. This fee only applies if the corporation has employees and requests Management extend its benefits plan to the corporation’s employees.|
|Notice of Lien||$250 + HST||Applied against an owner that does not pay their common element assessment (maintenance) fees 60 days after they are due.|
|Non-sufficient funds||$25 + HST||Applied against an owner whose funds are rejected by the bank due to Non-Sufficient Funds|
|Status Certificate||$100 + HST||Applied against an owner wishing to purchase a status certificate from Management|
|Disbursements||Variable||Includes courier fees, parking, postage and nominal printing costs as required to conduct business on behalf of the corporation. Disbursements are billed with appropriate supporting documentation and only in the event|
that work cannot be performed at the site office such as AGM/Budget packages or paid parking to attend legal meetings, etc.
|Unaudited Financial Statements|
|Board Meeting Packages|
|Online Status Certificate Production|
|Preferred Bank rates|
|Interest on Operating Fund|
|Interest on Reserve Fund|
|Preferred Mortgage Rates to clients and condo owners|
|24/7 Emergency Response|
|Quality Control Survey (1st Quarter)|
|Quality Control Survey (Annually)|
|Annual Management Plan with the Board of Directors|
|Reserve Fund Budgets|
|Community Software via Condo Communities - Free|
|Pay Vendors Electronically via SparcPay - Free|
|Building Inspections via Tap Report - Free|
|Vendor Management via Vendor PM - Free|