Loading...

Property Management

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

Accounting

  • 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

ITEMCHARGENOTES
Management Fees110,750 + HSTPayable monthly, in advance by way of Pre-Authorized Debit
*Employment Payroll Fee5% of gross annual employee salary + 13% HSTPayable 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 Fee5% of gross annual premium + 8% RSTPayable 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.

Owner Fees

ITEMCHARGENOTES
Notice of Lien$250 + HSTApplied against an owner that does not pay their common element assessment (maintenance) fees 60 days after they are due.
Non-sufficient funds$25 + HSTApplied against an owner whose funds are rejected by the bank due to Non-Sufficient Funds
Status Certificate$100 + HSTApplied against an owner wishing to purchase a status certificate from Management

Other Fees

ITEMCHARGENOTES
DisbursementsVariableIncludes 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.
CITY SITESCOMPETITION
Unaudited Financial Statements
Board Meeting Packages
Budget Preparation
Superintendent Payroll
Superintendent Benefits
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