Co-op Management Services in BURNABY FOR GREATER VANCOUVER
Regardless of the current state of your housing co-operative, Ascent Real Estate Management Corporation can serve as the catalyst for improving its overall efficiency. Good governance, fresh ideas, and strong leadership go a long way towards sustaining the long-term success of your operation. Our team provides a range of services designed to improve your co-op’s management. We are independently owned and located in Burnaby.
Maintain all aspects of your property including the administrative paperwork and financial obligations in a better way. We tailor our skills to match your community’s specific needs. If you require reliable co-op management at your Greater Vancouver location, our team is standing by ready to help. Simply request a quote or contact our office today.
LOOKING FOR CO-OP SERVICES?
Our co-op services include:
-
Financial operations
-
Meetings and minutes
-
Tasks and trades
-
Communications
-
Emergency response
We are experienced with all of the following:
-
Building envelope repair project administration (including tracking of taxes for rebate application purposes)
-
Annual income testing
-
Annual project data report completion
-
Share purchase loan administration
-
Consumer Price Index calculations on share refunds
-
Preparing property tax assessment forms
-
Applications for and dispersing of Home Owner Grants
FINANCIAL OPERATIONS
We perform the following for Lower Mainland clients:
-
All financial operations are conducted in accordance with the Real Estate Services Act and Operating Agreements
-
Opening and maintaining all necessary trust bank accounts. Each co-op has independent bank accounts
-
Negotiating discounts and favorable rates to optimize interest with financial institutions including term deposits and operating accounts
-
Billing, collecting and depositing co-op income; including monthly housing charges, assessments, fines and miscellaneous charges
-
Providing preauthorization payment option to co-op members
-
Special accounts receivable collections; such as arrears, billings, termination, eviction administration and initiate legal action, as required
-
Receiving, coding, approving and paying expenses as authorized
-
Preparing and providing financial statements in a timely manner. Full statements include detailed general ledger, aged accounts receivable, bank reconciliation including bank statements
-
Providing copies of paid invoices as requested
-
Assisting co-op boards with annual budgeting, long-term planning and replacement reserve fund requirements
-
Arranging audits
-
Providing payroll as required
-
Reconciling share refunds as required
MEETINGS AND MINUTES
-
Preparing agendas, statements, documents, and reports as necessary and distributing them in advance
-
Organizing and attending board and general meetings in accordance with service agreement
-
Facilitating board and general meetings as required
-
Providing knowledge and experience to board members
-
Providing minute drafts to boards within 48 hours as required
-
Providing minutes for distribution within one week
-
Preparing and distributing general meeting documents in accordance with the Cooperative Association Act
-
Preparing general meeting registration documents, including registration list and ballots
TASKS AND TRADES
We complete all tasks and directives in a timely manner.
-
Arranging competitive property maintenance, repairs and contracts as authorized
-
Providing available bulk purchasing discounts and services
-
Insurance: Ascent Real Estate Management Corporation has a unique Master Insurance Program.
-
Economies of scale provide a significant premium discount while providing an excellent independently drafted coverage specification
-
Paying trades in a timely manner
COMMUNICATIONS
-
Responding to phone, fax, email and correspondence in a timely manner; normally same day or within 24 hours
-
Providing advice to directors at meetings, as required; such as industry operational, administrative accepted practices and regulations
-
Providing documents and records
-
Communicating and corresponding with client employees and trades
-
Receiving and acknowledging correspondence
-
Placing correspondence on meeting agenda
-
Providing rule violation correspondence and follow up
EMERGENCY RESPONSE
-
Providing a 24-hour emergency answering/responding service
-
We record and act on various types of emergencies that may be unique to each co-op
-
Emergency responses are reported to and followed up by the Co-Op Manager