CONCISE STRATA MANAGEMENT

Strata Property Management Roles and Responsibilities

Concise Strata Management currently manages 55 different strata corporations from Duncan to Port Hardy. We are a fully licensed strata management company, licensed under the Real Estate Act of British Columbia with five staff members providing support services for two licensed strata managers. We are fully bonded in accordance with the Real Estate Act of B.C., with coverage for Errors and Omissions Insurance through the Real Estate Errors and Omissions Insurance Corporation.

We include a number of specialized services not offered by many of our competitors as part of our Standard management services. An example would be a comprehensive and detailed maintenance program that outlines the specific needs of each strata corporation combined with a depreciation report and contingency study. This allows the corporation to maintain an exceptional level of care and quality to the complex and eliminate the need to defer large projects or call for special assessments. We see and accept the responsibility to do what is required to maintain the property and buildings in good condition at all times and to protect the investment of all owners in the Strata Corporation.

Whether it’s completing depreciation reports, developing a quality maintenance program, preparing for a meeting, or drafting a professional landscape contract, you will be impressed with our thoroughness and professionalism. Our attention to detail and our willingness to provide assistance to any owner is what sets the service provided by Concise Strata Management apart from our competitors.

Financial Management

We understand the financial needs that accompany communities that share common assets and infrastructure and can provide you with detailed reports and analysis for any scenario that is needed.

Each strata community we manage maintains their own operating and contingency fund accounts in trust with Concise Strata Management as per the current Real Estate Council rules and guidelines. We prepare cheques and invoices every two weeks for your review, approval, and subsequent signature before they are issued to vendors. We will deliver the cheques and invoices to the designated council member(s) twice per month.

We currently use the “Simply Accounting” software to manage the financial affairs of the communities that we manage. This allows for the highest levels of professionalism in the reports that are produced and easy reviews by accounting professionals when requested.

Governance Policy

As the managing agent to any community, we see the primary responsibility of this position to be ensuring that the community direction and standards approved by owners are maintained each year despite ongoing changes in the council make up. The property manager must be able to provide the council members with sound recommendations and sufficient expertise to allow them to make informed decisions for the community. The property manager then implements the decisions of the council in a timely and professional manner.

We serve as the cornerstones for your community and must communicate effectively with every owner, vendor, and contractor to ensure that the community is maintained to the highest standards and operates in a consistent and planned manner each year.

Lines of Communication

The decisions and/or activities of council are generally communicated as follows:
• To owners by the posting of minutes, a newsletter or notice, and by direct letters.

• To the property manager at council meetings, by the council chair or by a member of the council specifically designated to do so.

• To vendors and contractors by the property manager, by the Council Chair or by a member of Council specifically designated to do so.