Strata Management

SERVICES PROVIDED

FINANCIAL MANAGEMENT

1. Receive, record and deposit (In Trust) on behalf of the Strata Corporation all monthly maintenance fees, other assessments and moneys due with respect to the Property.

2. Impose fines and liens, as directed by Council, against delinquent owners. (Associated costs to be billed to owners.) Provide documentation and correspondence to members of Council of all actions taken. Initiate legal actions as necessary. (Associated costs to be borne by the Corporation.)

3. The Manager shall pay all expenses of the operation and management of the Property in accordance with the Strata Property Act and By-Laws of the Strata Corporation from the Corporation’s funds held In Trust by the Manager. If the Strata Corporation wishes to either review the expenses prior to payment or have a Strata Council member co-sign the trust cheques for payment of the expenses, this could easily be worked out.

4. The Manager shall maintain the necessary bank accounts to conduct the business of the Strata Corporation, and best efforts made to optimise interest income from said accounts.

5. The Manager shall provide to the Strata Corporation a monthly statement of receipts and disbursements, contingency funds and any other funds or assets held In Trust by the Manager.

6. The Manager shall provide to the Council, thirty (30) days after fiscal year end, an Annual Report summarising all receipts and disbursements relating to the property for the preceding year. This shall not be construed to require the Manager to supply an audit. However, under the Real Estate Services Act of British Columbia, as a Licensed Real Estate Company, S. D. Woodman Management Ltd. is required to have each and every Trust Account audited annually in order to have the Real Estate License renewed.

7. The Manager shall, for the approval of the Strata Corporation, submit prior to fiscal year end a recommended Annual Budget for the next year showing anticipated income and expenses. In addition an estimated amount of each owner’s assessment will accompany the proposed budget.

8. The Manager shall assist the Council in the finalising of the proposed budget and attend the Annual General Meeting to answer questions pertaining to the proposed budget.

9. The Manager shall provide documentation to the owners of the Strata Corporation as required under the British Columbia Strata Property Act. (Fees for service will be paid by the owners).

10. The Manager shall maintain, at their place of business, all Corporation files, accounting records and documents of the Strata Corporation.

11. The Manager shall maintain files, at their place of business, registering all owners and
tenants of the Strata Corporation.

GENERAL SERVICES

1. Assist in the enforcement of the By-Laws, rules and regulations of the Strata Corporation (correspondence with owners as required).

2. Assist the Strata Corporation with the interpretation of the British Columbia Strata Property Act as well as any amendments thereof, and assist with the accepted general practices of the condominium industry in the Province of British Columbia.

3. Review annually the By-Laws of the Strata Corporation with members of Council and recommend amendments, as required.
4. Attend to all correspondence directed to the Corporation as directed by the Council.

5. Provide to Council members a monthly activity report, including copies of correspondence with owners of the Strata Corporation.

6. Attend a maximum of one (1) Council meetings and/or General Meeting of the Strata Corporation per year as agreed to in the Management Contract.

7. Prepare and circulate Minutes of meetings to the owners of the Strata Corporation.
(Fees for service to be borne by the Strata Corporation)

8. Conduct on-site inspections of the premises for By-Law infractions and/or potential problems.

9. Provide 24-hour emergency answering service. Attendance by Manager to the property for emergency situations.

10. Attendance by the Manager for meetings with provincial and/or municipal officials, contractors, and service workers when required.

11. Attendance by the Manager with all contractors/service workers for property inspections for any contract for maintenance repairs and/or service in excess of $5,000.00.

12. Provide supervision and direction of employees of the Strata Corporation as required.

13. Institute maintenance manuals for equipment requiring regular service.

14. Maintain comprehensive records of maintenance and repairs to all common property.

ADDITIONAL SERVICES

Additional services can be provided to the Strata Corporation for charges as listed below. Charges can be further defined when an assessment of your total needs has been made.
Postage – as set by Canada Post Attendance to any Court Proceedings – $100.00 per hour
Photocopying €” per page charge Storage of Files
In accordance with Clause 7 Management Contract and Schedules €œA€ and €œB€