Strata Management

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Strata Management
Full Services

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:

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 Services

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 Developer Services:

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

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:

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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 Services

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 adopt a three-tier system as their business model, which leads to significant overhead costs. These companies often operate out of large offices with substantial expenses, including extensive management and administration divisions, hefty management salaries, and significant dividends for owners and shareholders. But where does this leave the individual property manager?

The individual Property Manager (PM) assigned to a specific complex might be the one receiving the smallest share of the pie, compelled to manage a large portfolio of buildings just to earn a modest income. This situation is problematic because the number of buildings is often too great for the PM to provide adequate service. If you've been wondering why you seldom see your PM, this is the reason. So, what does this mean for you, the client?

You are investing good money for a promised service and not receiving what you've paid for. Metrowest Strata Management Division has innovated a property management system that stands out. Their system enables managers to offer more hands-on, face-to-face services, including regular site visits and direct collaboration with the council on daily operations and future planning. Assisting council members in understanding their roles and responsibilities, and working cooperatively, transparently, and amicably to develop strategies that save money for owners, enhance the property's asset value, and run the corporation's business efficiently are all integral to our management philosophy.

Clients are billed on an hourly basis, not a flat rate, for these services according to the detailed contract. In essence, clients are charged for the actual consulting services performed by the manager.

These services are particularly beneficial for self-managed properties that occasionally need consulting services, which include, but are not limited to, the following:

Preparation of client appointment specifications
Guidance on applying Bylaws/Rules in scheme administration
Strategies for presenting Bylaws/Rules at meetings
Counsel on securing exclusive use rights
Support in addressing accounting issues
Mediation for dispute resolution
Recommendations for structuring differential use
Consultation for Developers on strata scheme configurations
Facilitation of an independent Chairman for meetings
Comprehensive support for 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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