Property Management Services for Strata Corporations
1. Meetings: Rancho to attend and report to the Strata Council every month and to attend one Annual General meeting. It is expected that meetings will be two (2) hours in length. The Manager will take minutes of the Strata Council Meetings and the Annual General Meeting as directed by the Strata Council. Minutes are to be circulated once approved by Strata Council.
2. Notice of Meeting: Rancho will also issue the Notice of Meeting to the membership on instructions from the Strata Council. Notice of the Meeting is forwarded to Council Members before the Meeting. Rancho will also assist with procedure at these meetings.
3. Project Inspection: Attend the Strata Corporation at least once per week (action as necessary). Ensure that there is sufficient follow up on any problems.
4. Maintenance: Building and grounds to be maintained according to the standards acceptable to Strata Council. Prepare schedules of regular maintenance and upkeep and of extraordinary repairs and replacements.
5. Purchases: negotiate contracts on behalf of the Strata Corporation for all services required for the property of the Strata Corporation, for the purchase of necessary tools, equipment, materials and supplies for the operation and maintenance of the Strata Corporation's property, all at the expense of the Strata Corporation and always subject to the approval of the Strata Council.
6. Employees: Participate in the selection, training and the supervision of all staff hired to operate and maintain the property. These employees shall be employees of the Strata Corporation and their salaries and employer contributions shall be at the expense fo the Strata Corporation.
7. Trade List: Access to Rancho's extensive trade list. Rancho also passes on the benefit of its volume discounts to all of its clients (ie garbage removal, insurance, etc.).
8. Trades: Arrange for and meet contractors and servicemen as required.
9. Relations with Owners: The Manager will maintain businesslike relations with owners. Record and consider service requests received from the owners and indicate the action taken with respect to each request. Serious complaints shall be thoroughly investigated and a report distributed to the Strata Corporation with appropriate recommendations. Receive and respond to all correspondence with owners.
10. Bylaws: Review annually the by-laws of the corporation and recommend changes to the Council. Ensure that the bylaws and rules and regulations are adhered to by owners/tenants (correspondence as needed).
11. Emergency Contact: Maintain a 24 hour emergency answering service. Provide or arrange for emergency services to protect the property or the safety of the owners/tenants.
12. Provide Assistance with the Strata Property Act: provide interpretation and assistance with the Strata Property Act, its amendments and generally accepted practices throughout the B.C. Strata Industry.
13. Manage: Generally manage, maintain and administer the Strata Corporation's property and advise the Strata Council as the Strata Corporation would do personally, and always in accordance with the express directions of the owners and the Strata Council.
14. Move-In/Rentals: It is further agreed that Rancho shall assess move-in fees as per the Strata Corporation’s bylaws and as instructed by Strata Council. Rancho further agrees to provide Form K’s to Strata Council upon them being received.
15. Online Access to Minutes and Bylaws: Owners will be granted access to an exclusive “strata members only” area of Rancho’s website (www.ranchovan.com) whereby current minutes of Strata Council meetings and bylaws can be obtained online.
16. Rancho C.A.R.E. Report: This program ensures that that there is follow-up on all issues and there is statistical reporting that can be presented to Council at each Strata Council Meeting. For a demo of this service (free of charge) can be found under the Online Services Demo, which is on the left hand side of this page.
Accounting Services for Strata Corporations
1. Collecting Strata Fees: Receive, record and deposit monthly strata fees collected from all owners and deposit them in a Trust Account, and maintain full records thereof.
2. Collect and Levy Fines: Levy fines and register liens against delinquent owners in accordance with the Strata Council policy. Provide follow-up correspondence and initiate legal action as directed by Strata Council.
3. Sale Documentation: Provide documentation as required for the sale of any strata lot.
4. Maintain Registry: Maintain a registry of owners and tenants.
5. Pay Accounts Payable: Receive, review and pay all invoices. To ensure that all accounts payable for the Strata Corporation are paid on time, provided that funds are available. The Manager will be responsible for any late charges or interest due as a result of negligent payment of accounts. The Manager will not be responsible if the funds are not available or if the Strata Corporation chooses not to pay any account.
6. Insurance: As instructed by Strata Council, to arrange for property value appraisals and insurance coverage.
7. Preparing Operating Statements: Prepare either every month Operating and Cash Position Statements. This Statement to include an accounting of any owners' account that is in arrears. Maintain the books of account and records of the Strata Corporation in a manner satisfactory to the Strata Council and its auditors.
8. Banking: Administer necessary bank accounts to optimize interest income.
9. Year-End Financial Statements: Provide a Year-End Financial Statements and/or arrange for auditing as directed by Strata Council.
10. Budget: Prepare in cooperation with the Strata Council, an annual Operating Budget with details to reflect the anticipated disbursements required for the following year.
11. Electronic Approval of Invoices: This service enables on-site staff to be involved with the Property Manager in approving invoices and the electronic sorting of each strata's invoices.