Strata Management

First Landmark’s mission is to provide clients with outstanding service. Helen Glenesk, Managing broker, has been providing strata management for 6 years, she has experience working with bare land stratas, stratified buildings and mix use stratas (commercial and residential). Clients include Predator Ridge Golf Resort, Season’s in the Okanagan and other properties located in Vernon BC. A summary of the services provided are listed below.

Strata Corporation Premises – Upkeep

  • Inspect the Strata Corporation Premises when directed by Council. Record problems and bring to the Councils attention for review.
  • Liaison and follow up with service contractors.
  • Solicit quotes for service contractors as requested by the Strata Council.
  • Co-ordinate periodic maintenance schedules under the direction of the Strata Council in order to maintain the physical upkeep of the Strata Corporation’s common property.
  • Provide the Strata Council with emergency service contacts and telephone numbers.
  • Receive and respond to all correspondence & telephone calls.
  • Keep the Strata Council aware of new procedures and products as the agent are made aware of them.
  • To provide references for additional professional services as directed by the Strata Council.
  • To review and evaluate existing service contracts for competitive pricing.
  • To verify contractor’s status as to liability insurance and Workers Compensation Coverage.

Strata Corporation – Administration

  • Enter into service contract to manage and maintain the common property.
  • Maintain all Strata Corporation files and documents.
  • Maintain a registry of all owners and tenants.
  • Maintain a registry of all Council Members.
  • Renew the Strata Corporation general insurance on an annual basis in accordance with Part 9 of the Strata Property Act.
  • Provide assistance with the Strata Property Act, amendments and accepted practices.
  • Review Strata Corporation Bylaws and provide assistance with additions and amendments as required.
  • Execute the proper registration of Bylaws and Amendments.
  • Upon written notification from Strata Council, notify Owner/Tenants of Bylaw/Rules infractions.
  • Notify Strata Council members regarding their scheduled Council Meetings up to a maximum two (2) per year. Attend Strata Council meetings when requested, transcribe and circulate the Minutes.
  • Notify Owners regarding their Annual General Meeting, attend, transcribe and circulate the Minutes.
  • Receive and respond under the direction of the Strata Council to all contacts, correspondence and telephone calls pertaining to the Administrative Upkeep of the Strata Corporation.

Financial, Accounting & Trust Accounts

  • Maintain all accounting records on behalf of the Strata Corporation in accordance with Part 4 Division 2, sections 35 to 37 of the Strata Property Act.
  • Maintain separate Trust accounts in the name of the Strata Corporation for an Operating Account and Contingency Reserve Account, Special Levy Account to optimize safety, liquidity and interest for the Strata Corporation. All Trust accounts must have two signatures; the signatures must be the managing broker of the Agent and a Director of the Agent or the managing broker of the Agent and a Council member.
  • Receive, record and deposit the monthly strata fees.
  • Receive, record and pay, all invoices, unless otherwise directed by the Strata Council being mindful of discount and penalty circumstances.
  • Provide payroll accounting for Strata Council employees where required.
  • Follow up delinquent accounts as directed by Strata Council. Levy Strata Corporation interest penalties. Bylaw Infraction fines if applicable and provided in Bylaws. Register Strata Lot liens where directed by the Council.
  • Provide the Strata Council within 30 days of the month end with Monthly Financial Statements as to income, expenses, receivables, payables, bank reconciliation for all trust accounts and Contingency fund balance.
  • Provide every Strata Lot Owner with Balance Sheet and Income/Expenses report prior to the Annual General Meeting according to the Strata Property Act.
  • Prepare and present the Annual Budget Proposal to the Strata Council and attend the Annual General Meeting with explanations and assistance.
  • Arrange for independent Audit or Financial Review when directed and provided in the budget. Arrange for the T2 Corporation Tax Forms to be completed.
  • Arrange for Workers Compensation Board coverage on behalf of the Strata Corporation if required.
  • Complete required forms as requested by the Strata Property Act regarding strata lot sales.
  • Receive and respond to all contacts, correspondence and telephone calls pertaining to the financial aspects of the Strata Corporation.