Condominium Management

We understand that every condominium is different and try to find custom solutions to suit every property.  We work closely with our clients, listening and analyzing their needs and design a full service management solution to achieve their goals.  We invite you to review a brief summary of the services we offer our clients.  If you have any questions or require more information, please don’t hesitate to call or email us.    

Property Management Overview:

  • Meeting 
    • Attend and report to the Board of Directors every month.  The manager takes minutes and circulates them once approved by the Board of Directors. 
  • Notice of meeting 
    • Issue notice of annual general meeting to home owners under the direction of the Board of Directors
  • Budget preparation and implementation
    • Work with the Board of Directors to prepare and implement an annual budget that details the anticipated disbursements for the fiscal year.
  • Weekly property inspections
    • Attend the property as required for general inspection and to ensure that there is sufficient follow up on any issues. 
  • Maintenance management 
    • Grounds to be managed according to the standard of the Board of Directors. 
  •  Purchases
    • Obtain quotes from qualified contractors and negotiate contracts for the Board of Directors.  Expenses are to be approved by the Board of Directors.  
  • Trade liaisons and coordination
    • Oversee and coordinate work done by trades and ensure that work is done to quality standards.
  • Relations with owners
    • Receive and respond to all correspondence with owners.  Any serious disputes will be documented, investigated and reported to the Board of Directors.  
  •  Bylaws
    • Ensure that the bylaws and rules and regulations are adhered to by the owners and tenants. 
  • 24 hour emergency service
    • Maintain a 24 hour emergency answering service. Provide or arrange for emergency service to protect the property and home owners.
  • Online access to minutes and bylaws
    • Owners are granted access to an area on our website where they can login and obtain minutes of the council meetings and bylaws.

Accounting Services Overview:

  • Collect, record and deposit condo fees
    • Receive, record and deposit monthly condo fees collected from all owners and deposit into a trust account. 
  • Collect and levy fines
    • Levy fines and register liens against delinquent owners in accordance with the policies of the condo corporation.  Provide follow-up correspondence and initiate legal action as directed by the Condo Board. 
  • Sale documentation
    • Provide documentation as required for the sale of any condominiums.
  • Maintain registry of owners
    • Maintain and update a registry of the owners and tenants.
  • Accounts payable 
    • Receive, review and pay all invoices. Ensure that all bills are paid on time provided that the funds are available.  Bold will not be responsible for any late charges or interest due as a result of negligent payments of accounts. Bold will not be responsible if the funds are not available or if the condo corporation chooses to pay any account. 
  • Insurance
    • Arrange for property value appraisals and insurance coverage as instructed by the Condo Board.
  • Preparing operating statements
    • Prepare monthly operating and cash flow statements, including an accounting of any owner’s accounts that are in arrears. 
  • Banking
    • Administer necessary bank accounts to optimize interest income. 
  • Year end financial statements
    • Provide year end financial statements and/or arrange for auditing as directed by the Condo Board.  

 

 

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