Residential Property Management Services
Feherty Property Management Inc. will provide to your residential condominium corporation all of the currently accepted services, including:
- Solicitation of tenders, tender evaluation and recommendations to the Corporation for site maintenance and snow plowing (when current contracts are up for renewal).
- Administration of all contracts.
- Administration of condominium including keeping of files for all the business activities of the Corporation.
- Preparation of monthly financial statements and property management reports.
- Regular budget updating.
- Arrange all meetings of the Board of Directors and the annual general meeting and take and circulate minutes of each.
- Coordination of Reserve Fund Studies every three years as per the Condominium Act.
- Co-ordination of Reserve Fund investing.
- Monitor and ensure that all insurances are in place to cover Corporation liability and confirm owners are aware of their individual responsibilities.
- Issue Status Certificates as required.
- Respond promptly to all owner issues as they relate to condominium matters.
- Conduct weekly site inspections as a minimum and report to the Board on issues outstanding.
- Maintain a condominium register and ensure property title records are current.
Contract management you can trust
With regard to contracts with the Corporation for building, winter and summer maintenance and other services, we wish to emphasize that we are purely a management company and have no business connections with service companies. As a result, we put considerable effort into soliciting competitive quotations from reliable local companies and provide the Board with copies of all quotations together with evaluations and recommendations for selection.
We have also established a roster of very capable and committed local trades who are on-call with us to provide quality repair and maintenance services in emergency situations.
In-house consulting engineering services
Our firm provides in-house consulting engineering services through our affiliate firm, Feherty and Associates Ltd., for all aspects of site development and maintenance. We offer these services at no additional charge, which can be a significant asset, particularly in dealing with contractors and the municipality and in addressing maintenance and replacement of infrastructure.
Reserve Fund Studies
This engineering experience is also valuable when you come to do your Reserve Fund Study. While our consulting firm is qualified to conduct Reserve Fund Studies, we have a conflict doing these where we are also the property manager. We are, however, in a position to prepare much of the base data for the selected consultant, thus minimizing their costs. With our experience in this work, we can ensure that competitive proposals for your Reserve Fund Study are both technically sound and economical.
With respect to your reserve fund, we put considerable effort into ensuring that your investment appreciates with the guaranteed best interest rates by constantly monitoring the interest rates and investment offers from Canadian financial institutions.
Property management with strong communication and attention to detail
We take an approach to property management which emphasizes regular contact with our clientele and an attention to detail in operation and maintenance. We pride ourselves in being a firm that is always in contact with the properties we manage and their ownership.
Our Manager of Operations will be available 24/7 by cellular phone to respond to any issues that you may have.
Furthermore, our staff will always be available to meet with you outside of regular Board meetings to discuss and advise on any aspect of the condominium management and operations.
We would particularly like to emphasize our approach to property inspections and the importance that we place on these inspections. We will monitor the site maintenance work weekly to ensure that the contractor is performing as per the contract. In addition to these weekly inspections, we will inspect the site after every snowfall to similarly monitor snow plow and salting contract work.
We would also like to emphasize that we are not in the business of providing property management services to large downtown multi-story residential apartment buildings. Rather, we have established our business to cater to the small to mid-sized residential condominium developments that are prevalent throughout the GTA.