HOMELIFE ADVANTAGE REALTY
Experienced, Professional Property Managers at your Service
How Residential Stratas And Strata Management Work
Have you heard the following myths about First Nations lease lands?
- The band blockades roads
- Rent is jacked up without notice
- The certificate holder (generally an individual band member) took back the land without notice
None are true. First Nations lease agreements work just like regular leases – there’s a contract that’s signed and followed between all parties involved with the lease.
RESIDENTIAL STRATAS
- These are buildings/properties that are separated into individual lots and used as residences
- Share walls and/or common property
THE FOLLOWING ARE RESIDENTIAL
- Apartments/Condos (yes, even airspace condos!)
- Townhouses
- Detached houses (also known as bare-land strata)
Strata Services
FINANCIAL ORGANISING
Financial Planning
We’re here to advise you with structuring your budget. We assist with:
> Your budgeting process
- Most reasonable budget for each independent strata
- Capital planning
> Depreciation reports (planning and preparing for maintenance)
- Reroofing
- Repainting
> Contingency fund requirements
- Put in place as a safety net for all emergency needs.
Records and Transaction
We help you keep accurate records of:
- Payables
- Receivables
- Payroll services
-
Employee bonding
We also produce:
- Strata fee schedules
- Operating budgets
- Monthly financial statements
Your Manager is always available to answer any questions you may have.
Revenue Assurance
Hate collecting fees? We do it for you! We process all fees that are collected through:
- Auto-deposit
- In-person transactions
You’ll get help with:
- Levies
- Miscellaneous charges
- Bylaw infractions
- Lien process
- Interest
- Collection of delinquent accounts
- Outstanding strata fees
- Fine assessments
We deposit all funds to your
COMMUNICATION
Consultative Meetings
Each strata is different – we tailor to all of them. If we can’t do something because we’re not experts in that field, we assist you in finding the right person.
Examples of required experts are:
- Architects
- Lawyers
- Engineers
Constant Communication
You’re always able to contact us, and we’ll always keep you up to date with changes, such as:
- Daily operations within your strata
- Water shut-offs
- Capital asset projects (reroofing, etc.)
- Changes to garbage schedule
- Legislative requirements
- Changes to rental restriction bylaws
- New cannabis legislation
Streamlined Meetings
Strata management = a plethora of meetings.
We’re here to help organise any meetings that need to take place, such as:
- AGM (annual general meeting) Required once a year
- SGM (special general meeting)
- Called at any time by owners or council.
- Deals with bylaws
- General council meetings
- Meetings with elected officials
- Deals with the month to month details of strata.
- Regularly scheduled.
We help enforce attendance by emailing reminders, and preparing and distributing agendas.
Emergency Services
If the worst happens (e.g. fire or flood), we support you and your Council through the difficult times ahead.
We offer:
- A 24-hour emergency service for all owners
…and organisation of:
- The clean-up
- Insurance claims
- Anything else that crops up in an emergency.
LEGAL & UPKEEP SERVICES
Repairs and Maintenance
Your strata is responsible for the upkeep of the building’s common property – which changes with each strata.
Examples of maintenance:
- The roof
- Paint
- Carpets
- Windows
- Doors
- Elevator
- Roadways
- Underground parking
- Landscape maintenance
Because of our size, we have huge negotiating power to get you discounts on repair and maintenance contracts. We also aid with:
The bidding process
Administration of all contract services
Insurance and Government Responsibilities
Get assistance with the organization of the Annual Appraisal of Assets (industry standard insurance appraisal) and any insurance claims.
Our expertise gives you an advantage in negotiating insurance premiums.
Every year, we prepare and submit a T-2 Taxation Form to Canada Revenue Agency.
We also prepare and submit any documentation required by WorkSafe BC.
Contractors who work for our clients need WorkSafe.
We confirm they have it.
If they don’t, we can’t pay them until they do.
Site Management
We act as your representative in all Site Management responsibilities, such as…
…regular monthly property inspections and reports
…supervision of on-site maintenance workers
…assistance with bylaw and rules enforcement procedures
- we work with the contractors on site, monitor what they’re doing, set expectations, and confirm the work was done properly.
- If there are issues, we act as the voice of the Strata council.
We enforce any contracts.
Legal Services
We act as your registered office for all:
- Legal documents
- Meeting Minutes
- Registers
- Financial records pertaining to your strata property
We also liaise with your lawyers on any legal matters, such as:
- Wording of bylaws
- Wording of any resolutions of expenditures
- Enforcement of bylaws
- Foreclosure proceedings.
- Negotiating deals with the city in regards to land requisition.
- Land acquisition.
We liaise with the council through the civil resolution tribunal for any small claims.
It’s required to have a legal address for all strata documents to be stored and delivered to.
With us as that point of contact for you, there’s no worry over registering a different address every year (which happens if you use a council member as the point of contact). You only have to register us once.
Still confused about strata? > Check out our Ultimate Strata Management Guide!
Contact Information
Homelife Advantage Realty Ltd.
Chilliwack Office:
Chilliwack, BC
V2P 4N8
Phone: 604-858-7368
Toll-free: 1-877-858-7368
Fax: 604-858-7380