Property Management Services
Arnsby Property Management is a fully integrated real estate services company specializing in property syndicated real estate management, financial and paralegal services for the private and non-profit housing sector, including condominium corporations, non-profit housing corporations and residential and commercial properties. We offer management of all types of condominium corporations, townhomes, hi-rises, low-rises, vacant land, etc. and serve all demographics. Below please find a more thorough description of each of the services Arnsby Property Management can provide.
Arnsby Property Management takes direction from the Board of Directors, representing the owners with respect to the management of each property. As manager we advise, direct and recommend what we feel is in the best interest of the property and the residents. Members of our staff are available to attend meetings as required and if you so desire, our boardroom is available for your meetings.
All property managers employed with our company are highly skilled and well versed with respect to public relation skills and government legislation, and are extremely knowledgeable with respect to the effective administration of the Condominium Act, 1998.
The property management of the complex is responsible for any hiring, termination and training of the onsite superintendents. It is the function of this department to oversee all of the maintenance and day-to-day business of the property. Inspections of services rendered are also the responsibility of this department. Should a sub-trade be negligent in its duties, it is the property manager who must decide whether it is appropriate to recall the trade or to decrease the amount of the invoice by the appropriate amount.
All quotes on major repairs are delegated to this department and it is a standard policy of this company to obtain three quotes on any major repair or work to be completed.
It is important as well in this business to be knowledgeable in areas relating to condominium management. Because this business is our full-time occupation, you can be assured that, as changes come into effect, such as the implementation of the new Condominium Act, they are handled appropriately and professionally from this office.
The company is currently managing over 85 condominium corporations, dealing with all of the unique problems affecting unit owners and tenants. Arnsby Property Management is completely conversant with the Condominium Act, 1998 that received final approval and became effective on May 5, 2001.
We employ a fully staffed maintenance team on 24-hour call to accommodate emergency situations. They are equipped with a paging system, allowing them to respond immediately as required. Our maintenance personnel can perform detailed inspections at each property, depending on the actual needs of the property and/or the wishes of the Board of Directors. We would prepare preventative maintenance schedules to ensure that the property is maintained to the highest possible standards. We invite and welcome participation by the Board in the selection process. If the scope of maintenance or emergency repair work is not feasible for our maintenance department, we would then engage the services of the appropriate sub-trade to perform the task.
Our method of monthly "user-friendly" reporting allows us to provide you with the comparative monthly and year-to-date variances related to actual and budgeted costs. Our monthly report includes: balance sheet; income and expense statements; bank reconciliations for all accounts operating or reserve; accounts receivable and account payable listings; and statement of reserve for major repairs and replacements. Each property is operated as a separate entity with its own bank accounts for which copies are provided in the monthly statements. All interest earned on deposit funds is credited directly to the accounts of the condominium corporation.
Monthly statements will be sent to the board by the 20th of the month following, unless a specific date that is mutually agreeable is requested that would better coincide with your board meetings.
Arnsby Property Management prepares annual budgets at least two months prior to the commencement of each fiscal year during the term of our management agreement as part of our service package. Our financial department, in addition to the assigned property manager, will review the monthly statements, maintaining a constant vigilance over the expenditures of each property. Variances in budget to actual are identified and monitored. At the completion of each fiscal year, this office prepares a comprehensive package available for audit purposes to be forwarded to the accountant of record.
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