Strata Services

1.  Financial Operations
2.  Meetings & Minutes
3.  Tasks & Trades
4.  Communications
5.  Emergency Response

 

FINANCIAL OPERATIONS

All financial operations are conducted in accordance with the Strata Property Act and the Real Estate Services Act.

Open and maintain all necessary trust bank accounts. Each strata has independent bank accounts.

Negotiate discounts and favourable rates to optimize interest with financial institutions including term deposits and operating accounts.

Bill, collect and deposit strata corporation income; including monthly strata fees,          assessments, fines and miscellaneous charges.

Provide preauthorization payment option to strata owners.

Provide special accounts receivable collections; such as arrears, billings, lien administration, foreclosure administration and initiate legal action, as required.

Receive, code, approve and pay expenses as authorized.

Prepare and provide financial statements in a timely manner.  Full statements include detailed general ledger, aged accounts receivable, bank reconciliation including bank statements.

Provide copies of paid invoices as requested.

Assist strata councils with annual budgeting, long term planning and contingency reserve fund (CRF) requirements.

Arrange reviews and audits as requested.

Provide payroll as required.

MEETINGS AND MINUTES

Prepare, as necessary agendas, statements, documents, reports and distribute in advance.

Organize and attend council and general meetings in accordance with service agreement.

Facilitate council and general meetings as required. 

Provide knowledge and experience to council members

Provide minute drafts to council within 48 hours as required

Distribute minutes in accordance with the Strata Property Act (two weeks).  Ascent policy is within one week.

Prepare and distribute general meeting documents in accordance with the Strata Property Act.

Prepare general meeting registration documents, including registration list and ballots.

  

TASKS AND TRADES

Complete tasks and directives in a timely manner.

Arrange competitive property maintenance, repairs and contracts as authorized.

Provide available bulk purchasing discounts and services.

Insurance: Ascent has a unique Master Insurance Program.  Economies of scale provide a significant premium discount while providing an excellent independently drafted coverage specification.

Pay trades in a timely manner.

Perform site inspections as required.

 

COMMUNICATIONS 

Respond to phone, fax, email and correspondence in a timely manner; normally same day or within 24 hours.

Provide advice to councils at meetings, as required; such as industry operational, administrative accepted practices and regulations.

Provide documents and records.

Communicate and correspond with client employees and trades.

Receive and acknowledge correspondence.

Place correspondence on meeting agenda.

Provide bylaw violation correspondence and follow up.

  

EMERGENCY RESPONSE

Provide a 24 hour emergency answering/responding service.

We record and act on various types of emergencies that may be unique to each strata corporation.

Emergency responses are reported to and followed up by the strata agent.