STRATA DOCUMENT REVIEW
This fantastic service will provide you with an in-depth look at your strata complex, council and unit. Having this unbiased third party takes the pressure off you and allows a neutral professional to review all the details providing you with a comprehensive report.
Documents reviewed on your behalf · Registered strata plan · Current bylaws · Most recent financial statements · Budget
What does a strata management company do for me? Strata management companies, also known as homeowners associations, are employed by the property owners. They oversee the maintenance of the property and facilities the homeowners use such as pools, recreational rooms and tennis courts. They also take care of garbage removal, snow removal, landscaping, exterior building repairs and maintenance. They manage financial affairs, arrange strata council meetings to resolve legal and environmental issues that may arise, as well as disputes between neighbours. Strata fees range from $300 to $1,200 per month for a typical two bedroom condominium. Your strata council are able to levy special payments for extraordinary expenses applicable to common areas, if required, such as substantial building improvements like roofing, hallways, carpet, painting etc. Most strata management companies are now gathering engineers reports on the buildings and being proactive with regards to long term planning. While this may mean special assessments are less frequent, you are instead seeing an increase in strata fees in most complexes.
· A statement setting out the amount of the monthly strata fees and the basis on which that amount was determined · Any minutes of proceedings of a general meeting of the council for the past two years · Insurance certificate · Lease agreement or exclusive use agreement with respect to the possession of a portion of the common property including a parking stall or storage unit
· Management agreement · Recreational agreement
· A statement setting out structural deficiencies that the strata has knowledge of at the time of the request in any of the buildings that are included in the strata plan · Capital replacement reserve fund · Reserve fund plan · The particulars of any post tensioned cables located anywhere on or within the property · A statement setting out the amount of any contributions due and payable in respect to a unit · The particulars of any unsatisfied judgement or order for which the strata is liable · The particulars of any written demands made on the strata for an amount in excess of $5,000 that, if not met, may result in an action being brought against the corporation
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