Strata Management Services

Fort Park Property Management and Real Estate will handle any and all of your strata management needs. This is our primary area of expertise. We will adjust our services to suit you specifically, and we specialize in management for small stratas. We also offer accounting only services and other limited service options for strata councils looking to save a little money and rid themselves of the paperwork.

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Below are just a few of the items that we handle on your behalf for full service management.

  • Collecting and recording all monthly strata fees and any special levies.
  • Chasing down any late paying accounts and depositing into your strata corporation’s trust account.
  • Registering liens and issuing fines against delinquent strata owners whenever this might be required.
  • Helping you in planning your strata’s budget.
  • Helping you to plan for your Contingency Reserve Fund needs, as well as capital planning for future expenditures.
  • Organizing and implementing strata council meetings as well as general meetings, depending upon your particular needs.
  • Preparing minutes from all strata meetings, as well as preparing agendas to go out before meetings.
  • We offer 24 hour/7 days a week emergency contact and response for all strata owners.
  • Assisting with enforcing bylaws and rules. Suggesting any changes to the council upon annual review of the bylaws and rules.
  • Contracting out, and supervising regular inspection reports if these are required.
  • Contracting out all maintenance on your behalf (subject to strata’s approval), arranging quotes to determine the best prices and service levels.
  • Negotiating discounts for volume when purchasing supplies and equipment to save you money.
  • Inspecting and coordinating any projects should this be required.
  • Keeping and maintaining accurate records for legal documents, minutes, payables and receivables, monthly financial statements, strata fee schedules, operating budgets, and payroll.
  • Sourcing competitive insurance premiums based on our volume. Ensuring that all assets are appraised on an annual basis, and that you are insured for full replacement value.
  • Helping to train and supervise staff as required to maintain your property.
  • Keeping records of correspondence with individual owners, responding to all owner’s requests, dealing with any complaints, and reporting to strata council.
  • Maintaining records of all strata owners and registered tenants.
  • Receiving and paying invoices on behalf of your strata corporation.
  • Providing year-end financials, or arranging for auditing, depending on your needs.
  • Providing the required documents for any strata lot that is sold (Form B/ F, etc.)
  • Negotiating and arranging for depreciation reports.

Call us today, no matter how big or small your strata is, at 604-447-7275 to get started!

QUALIFICATIONS

FAQ

What types of resolutions require a unanimous vote by a strata corporation?

Some of the more common resolutions requiring a unanimous vote by a strata corporation would be removing or changing the designation of limited common property, and changing the unit entitlement of each strata lot from what is currently stated on the strata plan.

For a resolution requiring a unanimous vote of strata lot owners, if all the voters present at the meeting vote to pass the resolution, will this resolution pass?

No, for a resolution requiring a unanimous vote, ALL eligible owners in the strata corporation must be present either in person or by proxy at the meeting, and vote in favour of the resolution. If even one owner does not show up for the meeting, or votes against the resolution, the resolution will NOT pass.

If a 3/4 vote is required to pass a resolution, are 3/4 of all the strata lot owners required to pass the resolution, or only 3/4 of the strata lot voters present at the meeting?

Only 3/4 of the voters present at the meeting or either by proxy or by person are required to pass a 3/4 resolution.

Can our strata corporation borrow money from our contingency reserve fund to cover a cash shortfall in our operating fund?

Yes, but only if the loan is repaid by the end of the fiscal year AND the loan is for the purposes of covering temporary shortages in the operating fund resulting from expenses being due and payable before the contributions are available in the fund. A common example of this type of loan would be to pay an insurance premium.

Can the spouse of an owner who is not on the strata lot title stand for strata council?

No, unless a bylaw has been passed which allows the spouse of an owner to run for council.

Do rules have to be filed at the land titles office?

No, rules are adopted by strata council via majority vote, and do not have to be filed with land titles. These rules are generally included in the council meeting minutes.

Strata sections are pretty confusing, and as a result we have our strata management clients asking… Read more »

As a strata management company, we end up being asked this question on a regular basis…. Read more »