Condo Management in Montreal

Although for economic reasons or consistency, it is desirable to assign an entire mission to a condo management specialist in Montreal, it is nevertheless possible to mandate it for specific services:

• Administrative management. This includes tasks as varied as (for example) keeping the list of co-owners up to date, chairing condo boards and general meetings, or sending notices of general meetings and disseminating the minutes;
• Financial management. The manager in charge of the financial management prepares the annual budget, supports the administrators in opening bank accounts on behalf of the condominium, establishes and manages the contingency fund, keeps track of the revenue and expenses, allocates and collects the fees and initiates proceedings to collect unpaid debts, and draws up the financial statements and bank reconciliations. 
• Property maintenance management. The manager takes the necessary actions for the maintenance of the common areas or even the private areas if the integrity of the building is compromised, signs the maintenance contracts, has the work voted on carried out, and records the work carried out and the guarantees on all the systems in the maintenance logbook.
• Human resources management. Managing the staff for a condo board is always a delicate task, especially for the members who are co-owners and live in the building. Assigning this mission to a manager lets you absolve yourself of the hiring and supervision of staff, especially when it is necessary to make changes to a position or the behaviour of one of the syndicate employees.

It’s not uncommon for condo boards that initially assigned a targeted mission to us to decide to renew their trust in us, but this time by giving us a mandate to take care of the complete management of their condo in Montreal.

This decision, which may seem costly at first sight, is in reality very profitable:

• The condominium saves financial resources;
• The members of the condo board can free up time for themselves;
• The condo board delegates the legal aspect of condo management, which can be a source of very expensive disputes and litigation, as well as liability challenges;

The administrators can devote themselves to their core mission, the strategic management of the condominium: identifying the projects and issues raised, analyzing the recommended solutions, and making informed decisions thanks to the elements provided by the expert manager in condo management.

For condo board administrators who entrust us with the management of their condominium, the benefits are multiple: they save time, energy, and money, and they can devote themselves completely to the strategic management of their condominium.