Full Strata Management Services throughout the Lower Mainland

 

For Residential and Commercial

Services Include:

1) Attendance at Council Meetings

a) Premier Strata will attend regular Strata Council Meetings, as required, and report on property issues and maintenance concerns.
b) Premier Strata will provide advice, input and recommendations to the Strata Council regarding affairs of  the Strata Corporation as they pertain to the BC Strata Property Act.

 

2) Annual and Special General Meetings

a) Premier Strata will prepare and distribute all meeting notices in accordance with the BC Strata Property Act.
b) Premier Strata will attend and ensure meetings are conducted in accordance with the requirements of the Strata Property Act.

 

3) Preparation of Meeting Minutes

a) Premier Strata will prepare concise, well written minutes of all regular Council, Annual or Special General Meetings, and ensure they accurately reflect the business transacted therein with Council's approval.
b) Premier Strata will ensure that all legal motions and 3/4 Vote Resolutions are properly recorded within the Meeting minutes.
c) Premier Strata will ensure prompt distribution of the Council Meeting minutes.

 

4) Bylaw Enforcement and Administration

a) Premier Strata will review the Bylaws of the Strata Corporation to ensure their adequacy, content and clarity.
b) Premier Strata will address Bylaw infractions as directed by the Strata Council.

 

5)  Report on Correspondence

a)Premier Strata will receive, review and respond, as directed by Council, to correspondence from Owners and Residents corresponding with the Strata Corporation.
b) Premier Strata will report to the Strata Council with respect to all correspondence received and issued.
c) Premier Strata will provide advice to the Strata Council with respect to matters or issues arising from any and all correspondence received.

 

6)  Maintenance

a) Premier Strata will attend to all maintenance requirements of the Strata Corporation.
b) Premier Strata will ensure qualified trusted trades and/or staff are utilized to attend to all maintenance requirements.
c) Premier Strata will seek the Strata Council's approval on all maintenance matters, emergencies notwithstanding.
d) Premier Strata will report to the Strata Council with respect to all maintenance required and/or performed.

 

7) 24 hour Emergency Response System 

a) Premier Strata maintains a 24 hour emergency contact telephone number, for use by all Owners and Residents of the Strata Corporation.  This number is answered by a live operator and will put you in touch with your Strata Agent in a timely manner.
b) Premier Strata will attend to all maintenance emergencies to mitigate further damages and/or inconvenience to Owners and Residents.
c) Premier Strata will ensure qualified trusted trades are utilized to attend to after hours maintenance emergencies to mitigate damages and cost to the Strata Corporation.
d) Premier Strata will report to the Strata Council the next business day following the attendance of maintenance emergencies.

 

8)  Supervision of Contractors

a) Premier Strata will monitor the quality and successful completion of all repairs and projects performed on or about the Strata Corporation.
b) Premier Strata will verify quality and completion of all repairs and projects prior to issuing approval for payment on behalf of the Strata Corporation.

 

9)  Long Term Planning

a) Premier Strata will assist in establishing a Long-Term Plan which incorporates future capital projects such as roof replacement and exterior painting to ensure Strata Corporations stay on budget.
b) Premier Strata will make recommendations to the Strata Council as to the financial preparation for the capital projects detailed in the Long-Term Plan.

 

10)  Payroll Administration

a) Premier Strata will ensure all employer remittances are properly administered on behalf of the Strata Corporation.

 

11)  Preparation of Monthly Financial Statements

a) Premier Strata will produce monthly Financial Statements showing an accurate accounting of all revenue and expenses including bank statements, bank reconciliations, general ledger,payables and receivables, copies of all cheques issued and copies of all invoices paid.  
b) Premier Strata will make invoice and cheque copies available for provision to the Treasurer or other person(s) appointed by the Strata Council.
c) Financial statements shall be supplied to all Council members monthly, by the 20th business day of each month.

 

12)  Collection of Strata Fees

a) Premier Strata will attend to the regular collection of strata fees and will utilize a notification system to minimize strata fee arrears and maximize cash flow for the Strata Corporation.
b) Reminders and notices will be sent to Owners and where necessary, the filing of liens will be performed as directed by the Strata Council.

 

13)  Banking Methods

a) Each Strata Corporation is provided a minimum of two separate trust accounts which are maintained at a chartered financial institution in accordance with the regulated trust account requirements as stipulated by the Real Estate Services Act.
b) Routine operating expenses and strata fee income is handled through the "Operating Trust Account".  The "Contingency Reserve Fund" is maintained separately within a specifically designed "Contingency Trust Account".

 

14)  Insurance

a) Premier Strata will ensure the Strata Corporation is receiving the highest of industry standard coverage available, while ensuring the receipt of competitive rates.
b) Premier Strata will provide advice with respect to the insurance requirements of the Strata Corporation.
c)  Premier Strata will ensure that an insurance appraisal of the property is performed by a qualified valuation company at a competitive rate for the Strata Corporation on an annual basis to maintain proper insurance coverage.

 

15)  Individual Strata Owner Statements

a) Premier Strata will provide individual strata fee account statements to those Owners with a balance owing to the Strata Corporation or to any Owner upon request.

 

16)  Site Inspections

a) Premier Strata will perform regular site inspections of the property, inspecting recently completed work, work in progress, as well as monitoring the performance of the building's trades such as the Caretaker and Landscaper.
b) Site Inspections will be utilized to monitor adherence to the Strata Corporation's bylaws.

 

17)  Assistance with Legal/Arbitration

a) Premier Strata will advise the Strata Council with respect to legal requirements and liaise with legal counsel hired by the Strata Corporation where and when necessary.

 

18)  Contracts

a) Premier Strata will ensure the Strata Corporation's interests are protected within all contracts executed by the Strata Council.
b) Premier Strata will obtain approval from the Strata Council prior to the execution of any contract on behalf of the Strata Corporation.

 

19)  Adherence to the Real Estate Services Act

a) Premier Strata will ensure compliance with the Real Estate Services Act with respect to the handling of all trust monies and the management and administration of the trust bank accounts.
b) Premier Strata will ensure that all Property Agents assigned to manage your affairs are properly licensed as stipulated within the Real Estate Services Act.

 

20)  Updating of Owner/Tenants List

a) Premier Strata will maintain an accurate list of all pertinent information regarding all Owners of the Strata Corporation, and Tenants residing within the Strata Corporation.
b) Premier Strata will provide the Owners/Tenants list to Strata Council upon request.
c) Premier Strata will take the necessary steps to ensure Form "K" - Notice of Tenants Responsibilities documents are on file for all Tenants residing within the Strata Corporation.

 

21)   Preparation of Annual Budget

a) Premier Strata will, on an annual basis, prepare an operating budget for the commencing fiscal year.
b) Premier Strata will provide year-end figures and/or projections to assist the Strata Council with their review of the proposed budget.
c) Premier Strata will explain the proposed budget to the Strata Council and the Owners at the Annual General Meeting.
d) Premier Strata will ensure the budget is properly reflected within the Financial Statements of the Strata Corporation.
e) Premier Strata will obtain approval from the Strata Council prior to presenting the budget to the Owners at the Annual General Meeting.

 

STRATA MANAGEMENT (FINANCIAL SERVICING ONLY)


This is ideal for smaller strata corporations that do not require full management service
Premier Strata Services offers a Financial Services package for those properties who may not need full management.  Financial Management service include the following:

- Consulting Services
- Attendance at Annual and Special General Meetings
- Payroll Administration
- Distribution of monthly Financial Statements by the 20th of the following month
- Collection of Strata Fees from Owners
- Payment Options presented to Owners at the direction of the Strata Council
- Payment of all trade invoices for maintenance, repairs and monthly expenses
- Renewal and Maintenance of the Annual Strata Corporation Insurance
- Maintenance of the Strata Corporation Contingency Funds
- Individual Owner Strata Fee Statements issued monthly
- Advice and Recommendations on the BC Strata Property Act
- Advise and Recommendations on the BC Real Estate Services Act
- Review and compilation of the Annual Operating Budget
- Compilation of 3/4 Vote Resolutions

 

Description of Services:

 

1) Annual and Special General Meetings (Optional)

a) Premier Strata will prepare and distribute all General Meeting notices in accordance with the BC Strata Property Act.
b) Premier Strata will attend and ensure meetings are conducted in accordance with the requirements of the BC Strata Property Act.

 

2)  Payroll Administration

a) Premier Strata will ensure all employer remittances are properly administered on behalf of the Strata Corporation.

 

3)  Preparation of Monthly Financial Statements

a) Premier Strata will produce monthly Financial Statements showing an accurate accounting of all revenue and expenses including bank statements, bank reconciliations, general ledger,payables and receivables, copies of all cheques issued and copies of all invoices paid on direction of the Strata Council.    
b) Premier Strata will make invoice and cheque copies available for provision to the Treasurer or other person(s) appointed by the Strata Council.
c) Financial statements shall be supplied to all Council Members monthly, by the 20th business day of each month.

 

4)  Collection of Strata Fees

a) Premier Strata will attend to the regular collection of strata fees and will utilize a notification system to minimize strata fee arrears and maximize cash flow for the Strata Corporation.
b) Reminders and notices will be sent to Owners and where necessary the filing of liens will be performed as directed by the Strata Council.

 

5)  Banking Methods

a) Each Strata Corporation is given two separate trust accounts which are maintained at a chartered financial institution in accordance with the regulated trust account requirements as stipulated by the Real Estate Services Act.
b) Routine operating expenses and strata fee income is handled through the "Operating Trust  Account".  The "Contingency Reserve Funds" will be maintained separately within a specifically designed "Contingency Trust Account".

 

6)  Insurance

a) Premier Strata will ensure the Strata Corporation is receiving the highest of industry standard coverage available, while receiving competitive rates.
b) Premier Strata will provide advice with respect to the insurance requirements of the Strata Corporation.
c)  Premier Strata will ensure that an insurance appraisal of the property is performed by a qualified valuation company at a competitive rate for the Strata Corporation on an annual basis to maintain property insurance coverage.

 

7)  Individual Strata Owner Statements

a) Premier Strata will provide individual strata fee account statements to those Owners with a balance owing to the Strata Corporation or to any Owner upon request.

 

8)  Adherence to the Real Estate Services Act

a) Premier Strata will ensure compliance with the Real Estate Services Act with respect to the handling of all trust monies and the management and administration of the trust bank accounts.
b) Premier Strata will ensure that all Property Agents assigned to manage your affairs are properly licensed as stipulated within the Real Estate Services Act.

 

9)   Preparation of Annual Budget

a) Premier Strata will, on an annual basis, prepare an operating budget for the commencing fiscal year.
b) Premier Strata will provide year-end figures and/or projections to assist the Strata Council with their review of the proposed budget.
c) Premier Strata will explain the proposed budget to the Strata Council and the Owners at the Annual General Meeting.
d) Premier Strata will ensure the budget is properly reflected within the Financial Statements of the Strata Corporation.
e) Premier Strata will obtain approval from the Strata Council prior to presenting the budget to the Owners at the Annual General Meeting.