Strata Management

Strata Management
Full Services 

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Metrowest Building Services Limited is a licensed brokerage with its Strata Management Division specializing in the strata management business. At Metrowest, a licensed professional is hired by the strata management company and is then designated to be a strata manager for a particular strata corporation. 

 

A strata manager together with his/her team, such as the accounting and administration 

 support staff, makes it easier for the strata council to operate a strata corporation or section. The strata manager can handle paperwork, prepare for meetings, take minutes, hire qualified services and much more. Metrowest Strata Management Division offers a wide and full range of services, including, but not limited as follows: ​

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  • attending strata council meetings

  • preparing the minutes of all meetings, including strata council meetings, and distributing the minutes to owners;

  • preparing annual budgets and financial statements;

  • collecting strata fees and other money owed to the strata corporation;

  • paying strata corporation bills;

  • securing adequate insurance for the strata corporation;

  • keeping and permitting access to strata corporation records;

  • preparing documents on behalf of the strata corporation such as “Form B: Information Certificates” and "Form F: Certificates of Payment";

  • entering into contracts and arranging services for the strata corporation such as: landscaping, insurance, electrical services, maintenance, etc.;

  • hiring and supervising employees hired by the strata corporation; and

  • providing emergency contact and services.

Strata Management Developer Service​​s

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For new Strata Corporations, Metrowest Strata Management Division provides the essential forward thinking required to establish the proper financial systems and policies and procedures to set a strong foundation prior to the initial occupancy period. Big or small, Big or small, we have a professional management plan for your new development that will set the true course for a stable and successful project. We can help with the following:

  • Disclosure statement guidance and assistance

  • Accurate and guaranteed interim budget preparation

  • Rental disclosure statements

  • Bylaw consultation

  • Phased planning and development

  • Management plans and owner information packages

  • Contract negotiation and set up

  • Documentation and maintenance of important records

  • Long term maintenance plans

  • Maintenance manuals

  • Deficiency documentation through knowledge and guidelines

Contractors

A strata corporation may engage contractors to take care of or repair or maintain the common properties, such as garbage collection, mechanical system, landscaping, cleaning ...

Strata Management
Accounting Service Only 

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Due to the size of a strata corporation (or section), to save funds, a strata corporation or a section may choose to pay for a few services like Accounting Service Only. Metrowest Strata Management offers the following services in this regard:

  • Finance & Accounting

  • Preparing budgets

  • Attending Annual General Meetings

  • collecting strata fees;

  • paying strata corporation bills;

  • preparing documents on behalf of the strata corporation such as “Form B: Information Certificates” and "Form F: Certificates of Payment";

  • Professional Guidance

  • Education for Council and Owners

Strata Management Consulting Service​​s

Metrowest Strata Management Division has created a property management system that is DIFFERENT. Our system allows our managers to provide more hands on, face to face service. Regular site visits, working directly with council on both day to day and future plans. Helping council members understand their roles and responsibilities as council members. Working in a cooperative, transparent and friendly manner 

Most strata property management companies in BC use a 3 tier system as their businesses model, which incurs huge overhead. Management companies may run with large offices with large expenses, such as large management divisions, large administration divisions, large management salaries and large dividends to their ownership and shareholders. Where does that leave individual property manager?

The individual Property Manager (PM) assigned to a certain complex may be one person in the organization getting the smallest piece for the pie and is forced to take on a large portfolio of buildings, just to make a meager living. Herein lies the rub. Unfortunately, this amount of buildings is too many for the PM to provide adequate service. If you were wondering why you rarely see your PM, that's why. So where does that leave you, the client?

You are paying good money for an agreed upon service and are not receiving what you are paying for. 

Metrowest Strata Management Division has created a property management system that is DIFFERENT. Metrowest Strata Management system allows their managers to provide more hands on, face to face service. Regular site visits, working directly with council on both day to day and future plans. Helping council members understand their roles and responsibilities as council members. Working in a cooperative, transparent and friendly manner to develop strategies to save owners money where possible, to raise the asset value of the property, and run the business of the corporation efficiently are all part of our management philosophy. 

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The clients will be charged by an hourly rate, not a flat rate for this kind of service as per the detailed contract. In other words, the clients would be charged for what the manager has done.  

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These services are ideal for those who are self-managed, but require consultant services while needed, including the following: 

  • Preparing a specification for the appointment by clients

  • Advice regarding the use of Bylaws/Rules in the administration of a scheme

  • Advice regarding the presentation of Bylaws/Rules to a meeting

  • Advice on obtaining exclusive use rights

  • Assistance in resolving accounting problems

  • Dispute resolution

  • Advice on structuring differential use

  • Advice to Developers on strata scheme setups

  • Provision of independent Chairman for meetings

  • General assistance to Strata Managers

Strata Corporation

A strata corporation is a legal entity with all of the powers of a natural person who has full capacity. This means that it can sue or be sued, enter into contracts and hire employees.

The owners of the strata lots are the members of the strata corporation.

Therefore when a strata corporation is responsible for paying a judgment, the owners are personally liable to pay a portion of the judgment in proportion to their unit entitlement. A strata corporation does not have limited liability like a company.

A strata corporation is created to divide a building(s) and/or a parcel of land into separate components that are individually owned and common components owned by all of the owners.

The strata plan will show the separately and commonly owned components of the building(s) and/or land: 

  • separately owned components are referred to as strata lots and 

  • commonly owned components are referred to as common property

A strata corporation is a legal entity created by the deposit of a strata plan in the Land Title Office

The Land Title Office will assign a number to the strata corporation. This will become the legal identity of the strata corporation. Examples of strata corporation numbers are LMS 1234 or KAS 9876.

The name of the strata corporation is: The Owners, Strata Plan, (the registration number of the strata plan).

Strata corporations are created under the Strata Property Act and not the Business Corporations Act. This means that there is no incorporation certificate for a strata corporation, and the Registrar of Companies does not regulate strata corporations.

Strata Council

The strata council plays a critical role in governing the strata corporation on behalf of all the strata owners. It carries out the duties and affairs of the strata corporation between general meetings, usually at strata council meetings. Strata Council is actually the management of a strata corporation. 

Management Service Company

A strata corporation (or section) can hire a strata management company for assistance in operating the strata.

A strata property manager is a licensed professional who works for a strata management company. A strata property manager makes it easier for the strata council to operate a strata or section. The manager can handle paperwork, prepare for meetings, take minutes, hire qualified services and much more. 

Strata management companies offer a wide range of services. A strata corporation (or section) may choose to pay for a few services like record keeping or for a full range of strata management services.

A strata council can delegate its power to a management service company except for financial matters and bylaw enforcement. Those two items must be decided by the Council collectively. 

Caretaker /Concierge

A strata corporation may hire a caretaker / concierge /cleaner at front to take care of the common area of the strata either via a contract or employment. 

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