A well-established condominium property benefits from the professional services of a property manager that can relate knowledgeably to its owners and directors and coordinate any services required.

Each corporation managed by PMA is assigned a specific manager. However, because we know the importance of being able to get answers to questions in a timely manner, our computer system and software programs allow all PMA staff to share and access general information on all of the corporations we manage.

Our wide experience in all types and sizes of condominiums will benefit any corporation. Whether your concerns are administrative items, repairs or insurance issues. Legal questions, interpretation of declarations, by-laws or rules can in many instances be adequately dealt with by PMA’s condominium management staff. Our experience and subscription to various condominium law update services allows us to keep up with and understand such matters. However, where indicated, PMA staff will assist the board in obtaining an opinion or guidance from a knowledgeable professional. Our membership in the Canadian Condominium Institute (CCI) also keeps us up to date on developments in condominium management.

Since the Board of Directors is charged with significant responsibilities under the Condominium Act, having an experienced and competent management company like PMA would be a great asset. We are here to provide the Board of Directors with the information required for the proper management of their Corporation.

PLANNING FOR THE FUTURE

The provision for major repair and replacement of the common elements is done through a statutory reserve fund. The adequacy of the fund is assessed by making financial projections up to 30 years into the future with the aid of a reserve fund study performed by a qualified analyst in compliance with provincial legislation.

The existence of an adequate reserve fund contributes to the marketability of the units. Potential purchasers (and their lawyers) are increasingly attaching importance to their own review of the adequacy of the reserve fund.

Most Corporations are getting to the age where greater financial planning and control is required and the new Condominium Act places a much greater emphasis on financial projections for the future. Budget control, accounting experience and financial expertise are increasingly becoming an important qualification for the property manager. PMA, also when working with the Board of Directors ensures, with input from the Board, that the funds in the reserve fund are invested appropriately.

PMA is experienced in dealing with the professionals who are invariably involved with major repair and replacement of the common elements including lawyers, engineers, architects, building consultants, interior designers and contractors.