Condominium

The main difference between Option A and B is workload and responsibility.  In Option A the Manager’s primary task is money-management, accounting, paying bills, handling delinquencies, and supporting the Board.  Most of the Manager’s work is by phone and email.  The Board handles most of the on-site workload such as determining work to be done, hiring contractors, checking the work is complete, and informing the Manager when to pay the contractors.

In Option B the Board still makes management decisions but the Manager handles most of the work to actually accomplish the tasks and may need to come to site in-person.

Option A: Accounting/Administration Only $10/unit/month.
Unless otherwise negotiated the minimum monthly charge is $500

• Monthly Bank Reconciliation
• Income and Expenses
• Copy of original bank statement if board does not already have direct access to statements
• Owner delinquencies disclosure and collection activities
• Occupant online only communication for maintenance requests and passthrough to the board
• Legal Assistance by a Broker or CPM (within limitations of the Real Estate Act)
• Virtual board meetings and AGM during business hours are included at no charge
• Minutes preparation (use of AI software required)
• Requesting and coordinating contractor bids with the board handling in person contractor appointments and access
• ongoing and progressive assessments of budget, insurance, bylaws, etc

Note: the board can do their own on site inspections and we will handle charging and notifying occupants of infractions for no additional charge. Other tasks can be handled for one-time fees.

Option B: Accounting/Administration AND Management $18/unit/month.
Unless otherwise negotiated the minimum monthly charge is $750

Everything in Option 1 plus:

• Includes Quarterly Site visits/inspections, contractor bids
• Minor project and maintenance management
• After business hours AGM and one after-hours board meeting/year (virtual or in-person)
• Preparation and running of AGM
• Major budget assessments
• Special assessments
• Major change of insurance
• Corporation insurance claims

Note: anything not in Option 1 is available for one-time A La Carte fee negotiable on request

Optional Add ons: 

• Payroll: $250/mth per employee
• Non-quarterly visits for bids for $250 (target 3 bids/project)
• Additional meetings will be $250/each max 2 hours included.
• Site inspections free for 1/mth, $250 for 2/mth, $100 each for 4 or more. Travel included
• Other hourly tasks $150/hr, $50/hr for travel. task under this billing will be treated like a third-party vendor, disclosure and permission will be given in advance, this is no
   
  • Major project management. To be negotiated on a per-project basis. The condo board may use additional or third party project managers and is not obligated to use the Manager.
  • Rental Properties/Rental Pool Management