5 Tips to Improve How Your Council Communicates the Strata Budget
Posted on Tuesday July 03, 2018
Creating your strata corporation’s annual budget is one of your council’s most important jobs. It takes a lot of time and hard work, and it frequently means making tough spending decisions. Strata members often scrutinize it carefully because of how much it impacts the strata as a whole and themselves as individual homeowners. “The budget affects everyone because it’s something that all the owners in the strata are contributing to,” explains Dylan Murray, controller for FirstService Residential in British Columbia. “You can never over communicate about it.”
Depreciation Reports: What You Need to Know
Posted on Monday May 21, 2018
A depreciation report provides an inventory of your Strata Corporation’s common property and assets, their projected 30-year maintenance and replacement cost. It is a useful tool for Strata Councils when it comes to budgeting for capital projects and it also gives transparency for owners and buyers on the building.
3 Ways Your Strata Corporation Can Fund Capital Expenses
Posted on Tuesday May 15, 2018
Your strata council may not want to think about future expenses given what you need to spend money on today. But eventually, you’ll need to fund the repair or replacement of your building’s big-ticket components. Whether that means replacing the roof, overhauling the elevators or installing a new heating and cooling system, you can’t overlook these projects. So how does your strata plan to pay for them?
11 Qualities that Make a Great Strata Management Company
Posted on Monday May 14, 2018
While every strata corporation has its own unique needs, and every property management company has a unique way of serving them, there are a handful of qualities that any great company should have. And if they don’t, steer clear.
The Quick Guide to Finding a Strata Management Company
Posted on Tuesday May 08, 2018
So, your council has been self-managing your strata, and now you’re ready to hire a strata management company. Good decision! At first, you feel relief and then... panic sets in. This is a big decision. How do you go about finding a reputable company that will dedicate itself to ensuring the safety and happiness of you and your neighbours? How do you know you’re making the right choice?
Infographic: Enforcing Strata Bylaws
Posted on Tuesday May 01, 2018
All strata corporations have bylaws. Bylaws affect a strata lot owner’s rights and responsibilities and how a strata corporation operates. Strata corporations can have bylaws which can: establish quiet hours, ban smoking in common areas, allow certain types of pets, restrict the rental of residential units, or even specify the type of window coverings.
Keeping Up With Your Strata’s Maintenance and Improvement Needs
Posted on Friday April 27, 2018
One of the most crucial ways to protect your strata corporation’s financial health is by staying on top of your property’s maintenance and improvements. To manage this well, you need to have a means for attending to required preventative maintenance and regular maintenance. Here’s what that should entail.