“We decided to hire a new management company to guide us through a major envelope retrofit at the same time as when we were commencing legal action...
...read on »
Strata Financial Control & Administration
Financial Empowerment of Council
The finances of a strata corporation are one of the most important aspects in the strata corporation. Having a Chartered Accountant or a CFO of a company as one of your council members would be a huge bonus, but is in fact a rarity. The reality is, most strata council members do not have a lot of financial knowledge, but are often called upon to make major financial decisions.
One of our mandates at All Property Consulting is to take time to educate council so they can make informed financial decisions. We have found this process helps everyone. When council is informed, everybody wins.
We have often heard many councils feel their management company maintains too much financial control and gives council information only on a 'need to know' basis. We disagree with this style of management. When it comes to finances, Council should be in control of their budget and finances of their strata corporation.
Our philosphy at All Property Consulting Inc., is to empower your strata council by helping them learn the basics of running your strata corporation.
WHY WE'RE DIFFERENT
We have always believed that signing authority should be in the hands of council, not management. The council should be able to review bills before paying them. Our job as your strata management company is to prepare cheques for the authorized council members to sign. (Minimum of 2 signatories)
This procedure makes council aware of how much they are spending and on what.
Additionally, council will have online access to all accounting; daily activity, the contingency reserve fund and special levy accounts. Again, too many councils have been kept in the dark regarding their finances. We feel this is counter intuitive. We provide an easy-to-use software system which gives council 24/7 online access to their financials at a touch of a button.
All Property Consulting will provide council with customized monthly financial reports to meet the specific needs of council.
Simply put, we feel education & transparency are key in running a successful strata corporation.
To learn more about a different strata management experience, click here to Schedule Your in Person Presentation.
What You Need to Know
- Strata Governance
- Strata Communication
- Strata Financial Control & Administration
- Maintenance of Strata Physical Assets
- FAQ
- Contact Us
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Testimonials
“We decided to hire a new management company to guide us through a major envelope retrofit at the same time as when we were commencing legal action...
...read on »Once onboard as our property manager, Kevin O’Donnell set to work solving a number of long term issues regarding illegal activity by some residents, improving security in the building and forcing evictions and court actions...
...read on »Testimonials
Once onboard as our property manager, Kevin O’Donnell set to work solving a number of long term issues regarding illegal activity by some residents, improving security in the building and forcing evictions and court actions...
...read on »
Building Manager Recommendation
We were looking for a company with a ‘no-nonsense approach’ and the ability to deal with problem residents. At the time we had five suites involved in dealing drugs...
...read on »
A ‘No Nonsense Approach’
Prior to Mr. O’Donnell becoming our property manager, a piping situation where the entire building complex (six buildings in all) were being pressured to re-pipe immediately without a proper assessment of all of the buildings pipes...
...read on »