RE/MAX Management Solutions
Phone: (250) 717-5010
Fax: (250) 861-8462

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Strata Management

RE/MAX Management Solutions recognizes that not all Strata Corporations are the same and because of this we tailor our services to meet each client's specific needs. From full service to individual services…RELAX…Let RE/MAX® Do It!


Accounting

The payment of invoices on behalf of the Strata Corporation is a strictly controlled authorization process requiring at least two independent authorizations for each invoice. Invoices must be matched with purchase orders, cross-referenced with the budget and approved by the Strata Manager, and consequently approved by the controllers with the final signatories on the cheque.

We deal with the payment of all expenses from the Corporation Trust Account for regular maintenance and operating costs, as budgeted and/or approved by the Strata Council at the regular council meetings.

Administration

We maintain and keep all Strata Corporation records including items that would normally be forwarded to insurance agencies, legal entities, developers, contractors, and New Home Warranty Programs. We act on behalf of the Owners whenever any of the aforementioned institutions do not provide service in a timely manner

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Strata documents are now available through eStrataHub. This service allows lawyers, notaries and real estate agents to order, receive, and pay for strata documents online  through their BC OnLine account.

Strata Document Ordering Simplified.

  • Work with electronic files - no faxes or photocopying
  • Payment from BC OnLine - no payment processing or bill collection
  • Includes Undertakings and Forms B and F

 

Budgets

We prepare annual operating budgets and long-range expenditure plans for discussion and approval by the Strata Council.

Collection

We deal with the collection of monthly Strata Fees from strata lot Owners. Monthly reports are provided to the Strata Council as part of the Council Meeting Agenda package.

Financial Statements

We prepare financial statements for distribution each month. These include a variance analysis, operating expenditures, balance sheets, summary and detailed reports, unpaid dues, a list of all Owners and their monthly fees, and an explanation of any expenditure made outside of the regularly budgeted items. Our standard accounting and financial reporting software system is Newstar, a state of the art software program designed specifically for the real estate industry.

Annual General Meeting

We prepare and circulate meeting notices, including full budget packages and required resolutions. We supply additional staff to check-in all Owners attending the meeting, having consulted a 21 item checklist which includes vote cards, date ballots, date proxies, head table name signs, hand-outs, when appropriate, and an efficient attendance register.

Communication with Council

Monthly written reports are provided to council. We promote good communication between council and the Property Management team, whether it is by email, fax and / or by telephone.

Council Meetings

We attend council meetings, prepare and circulate meeting notices and agendas, and distribute minutes. Council receives an information package before each monthly meeting to apprise them of significant issues affecting Owners.

Information Package

New Owners to the development receive a "Welcome Package" which includes bylaws, assessment fee schedule, last month's minutes, recent notices and memos, particulars regarding parking and storage, and any other information on the project which will give them a "feel" for their new community.

Liaison

We would be the conduit between Owners and council in matters of dispute and enforcement of Bylaws and Fines, on behalf of council.

Our Philosophy

Our team approach to the management of your Strata Corporation allows our clients to benefit from the diverse experience and skill of our group of Strata Managers.  Our goal is to protect your investment by maintaining the property in a condition that will keep it attractive in a competitive market and to work with you to enhance the value of the property by making improvements that will increase its market value.


 Strata Management Services Provided through a Brokerage

RESA requires all services that require licensing, including the provision of strata management services, to be provided through a brokerage.

A company, partnership or sole proprietorship can be licensed as a brokerage however, in most cases, strata management services are provided by a company. The brokerage engages licensed individuals to carry out the specific strata management activities. Such individuals are usually referred to as strata managers.

Every brokerage must have a managing broker who is responsible for the activities of the brokerage and who supervises the individual strata managers. Although an individual strata manager is usually assigned to provide services to the strata corporation, the strata manager is providing the services on behalf of the brokerage. During the term of the contract between the strata corporation and the brokerage, the brokerage may assign different strata managers to provide services to the strata corporation. In addition to engaging licensed individuals to provide strata management services, the brokerage will also hire other employees such as clerks, accountants and other unlicensed individuals who will provide services on behalf of the brokerage to the strata corporation. Such individuals cannot however provide any services for which a license is required.

The brokerage may also coordinate service providers whose services are contracted for by the strata corporation e.g. plumbers, electricians, caretakers, landscapers, etc. All other services provided by the brokerage should be specified in the management contract.

The Strata Corporation’s Relationship with the Brokerage

An agency relationship exists between the strata corporation, as the principal, and the brokerage as the agent. The essence of the agency relationship is that the brokerage has the authority to represent the strata corporation in dealings with others and to enter into contracts on the strata corporation’s behalf.

Brokerages and their licensees are legally obligated to protect and promote the interests of their principals as they would their own. Specifically, the brokerage and the licensee have the following duties:

  • undivided loyalty;
  • to obey all lawful instructions of the principal;
  • to keep the confidences of the principal;
  • to exercise of reasonable care and skill in performing all assigned duties; and
  • to account for all money and property placed in the brokerage’s hands while acting for the principal.

In addition to the duties imposed on an agent by common law, RESA and the RECBC Rules establish conduct requirements for those who are licensed to provide strata management services.

As an agent of the strata corporation, the brokerage and its licensees are obligated to act on the instructions of the strata corporation which are given by the strata council.

It is up to the strata council to give clear direction to the strata manager or brokerage on an on-going basis, whether it be at a regularly scheduled strata council meeting or between meetings. In order to avoid possible confusion, it is recommended these instructions be given in writing to the strata manager through a designated strata council member and be properly recorded in the minutes of the next strata council meeting.

Strata Lot Owners and the Brokerage

Although strata lot owners have participated in the decision to retain a strata management company, the owners are not a party to the management contract. The contract is between the strata corporation and the strata management company. Because owners often communicate directly with a strata manager, they sometimes believe that a strata manager is able to act solely on their instruction or request. Such a belief is incorrect. The strata manager acts under the direction of the strata council, therefore, an individual strata lot owner wishing to have their needs or concerns addressed should present them in writing to the strata council or through the strata manager, to be addressed by the strata council.

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RE/MAX Management Solutions
103 - 1553 Harvey Avenue
Kelowna BC  V1Y6G1
(250) 717-5010