Management Services
Reserve Fund Studies
Condominium Consulting Services

 

ARE YOUR CONDO FEES TOO HIGH?

Or are you too busy to self-manage your condominium property?

Core Service

A low cost professional condominium management alternative. Let us show you how this service can work for you.

In short, our "Core Service" package features services which supply all of the mandated requirements under THE CONDOMINIUM PROPERTY ACT with the exception of maintenance of the common property and enforcement of some of the corporation’s bylaws noted below in Board of Directors - Responsibilities. This method of condominium management lends itself extremely well to properties with an involved board of directors resulting in a substantial reduction in management fees for your owners.

BENCHMARK MANAGEMENT LTD. – RESPONSIBILITIES:

  • A/R: Collect monthly contributions – monthly automatic withdrawal available
    • Follow-up of delinquent accounts - 30, 60, 90 day notices
    • Prepare and register caveats and initiate subsequent legal commencement as required
  • A/P: Issue cheques for payment of invoices -board signature (approval) required
  • Submit government remittance as required
  • Monthly financial reporting – e-mailable
  • Maintain operating and reserve fund bank accounts and reserve fund investments
  • Prepare records for annual audit as required
  • Prepare annual “draft” operating budget for board approval
  • Prepare and distribute annual assessment notices and approved budget to all owners
  • Ensure adequate insurance coverage in place – annual insurance appraisals / renewals
  • Prepare and distribute AGM notice and proxy
  • Attendance of AGM
  • Provide documents as requested
  • Register legal documents at Land Titles in accordance with the Condominium Property Act
  • Provide trades and services referral list
  • Provide access to our emergency 24 hour answering service
  • Prepare a “customized” Core Service Reference Manual for board guidance
  • Offer an initial “Condo 101” information meeting with the board
  • Ongoing consultation available with Benchmark staff relating to Financial concerns, Building and Grounds maintenance, Bylaws (and enforcement) and the Condominium Property Act
  • Additional service for miscellaneous projects available at an agreed service fee

BOARD OF DIRECTORS - RESPONSIBILITIES:

  • Day to day decision making pertaining to the operation of the condominium corporation
  • Manage the issues pertaining to the maintenance of the common property – Benchmark Management Ltd. available for ongoing consultation as required in conjunction with sample of maintenance scheduling, trades references and contract template(s) available in board copy of Reference Manual provided
  • Manage bylaw violations and enforcement action relating to occupant behavioral and improvement concerns – Customized samples of notices provided in reference manual and additional ongoing consultation available as required
  • Provide Benchmark Management Ltd. with a list of contracted trades and/or other services for emergency purposes
  • Scheduling of Monthly board meetings and AGM - distribution of minutes (copy to Benchmark)

Please Contact Us for more information.