Property Manager

THE        
CONTRACT   

Strata Management Services Nanaimo
Signing a Contract with
 ARDENT PROPERTIES, Nanaimo BC
for STRATA MANAGEMENT SERVICES
 ProProperty Managers

 

Ardent Property Management promoted and succeeded in having the Strata Council for Creekside Village accept and sign a standard contract of the Strata Property Association of British Columbia (SPABC)  without the benefit of legal council.

 “The Strata Management Company is a Member of Strata Property Agents of British Columbia (SPABC).  It is the opinion of the Vancouver Island Strata Property Owners Association (VISOA) and the Strata Home Owners Association of BC, (SHOABC) that the SPABC contracts are not in the best interest of Strata Property Owners.   The contract should be reviewed by legal council on behalf of your Strata Corporation. “

On Strata Watch BC http://www.stratawatch.ca/ removal of a star is not necessarily because there has been a complaint but can be due to the fact they are members of SPABC and SPABC contracts should be reviewed by a Lawyer before a Strata Corporation signs it.

Ardent Property Management maintains direct control and signing authority over all the strata's finances.  At an AGM, when an owner requested that council consider having a least one council member be a signing authority on the bank account, Rob Kelly responded that the funds are insured and that he would quit if he did not have complete signing authority.

.A recent Condo Smarts article dealing with managing finances recommends that we should be asking ourselves the following questions:

· Do we have full disclosure of funds?
· Do we have monthly cross referencing of balances and expenses by our treasurer and approved by the strata council?
· Do we have backup documentation, review of bank statements every month, and scrutiny of all financial accounts and investments?

A strata has a serious problem if these procedures are not being followed. To state the funds are insured is not sufficient and is misleading because coverage under the Real Estate Council is limited to a maximum of $350,000 per brokerage and $100,000 per claim. The Real Estate Council represents the real estate industry, with no particular commitment to strata owners.

"What was he thinking?"?

Designed and maintained by Oscar George