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 the (on-site) enforcement of bylaws noted below in Board of Directors - Responsibilities. This method of condominium management lends itself extremely well to smaller to mid-sized properties with an involved board of directors or for larger properties where a resident manager is in place. The result is a substantial reduction in management fees for your owners.

BENCHMARK MANAGEMENT LTD. - RESPONSIBILITIES

BOOKKEEPING:

  • 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

ADMINISTRATIVE & CLERICAL:

  • Prepare annual “draft” operating budget for board approval
  • Prepare and distribute annual assessment notices and approved budget to all owners
  • Offer assistance with annual reserve fund planning
  • Ensure that insurance policy renewals are in place – Provide insurance appraisal "proposal" to the board
  • Prepare and distribute AGM notice and proxy
  • Attendance of AGM is optional
  • Provide documents as requested, ie: for the sale of a unit – in accordance with sections 44 and 48 of The Act
  • Register legal documents and document searches at Land Titles

MISCELLANEOUS:

  • Offer access to our emergency 24 hour answering service
  • Offer a “customized” Core Service Reference Manual for board guidance:
    • Includes Board Reference Material, our Trades and Services referral listing,
    • Templates: Sample letters for bylaw enforcement, Board Meetings, Forms, Contracts, Etc.
  • Offer an initial “Condo 101” information meeting with the board – review Core Service Reference Manual
  • Consultation available during business hours 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 corporation
  • Manage all on-site issues pertaining to the maintenance of the common property, bylaw violations and subsequent enforcement relating to occupant behavioral and improvements concerns (Benchmark Management Ltd. available for consultation as required in conjunction with board copy of Core Service Reference Manual described above)
  • Provide Benchmark Management Ltd. with contact information of a designated on-site contact person as well as a list of contracted trades for after hours “emergency” purposes
  • Scheduling of monthly board meetings and AGM – preparation of minutes (copy to Benchmark)

Please Contact Us for more information.