Proposed Schedule of Condominium Management Services

NO. 1 Simply Property Management will provide all management services outlined in the Management Agreement, including, but not limited to the following.


Our accounting department will keep accurate accounts of all financial transactions involved in the management of your property, in accordance with accepted accounting procedures and the requirements of the Corporation's Auditors, including the following services:

  • 1 Maintaining the corporation's bank accounts, in the name of the corporation, to be reconciled monthly.
  • 2 Receiving all regular and additional common expense fees from unit owners. This includes correspondence, as required, for collection, together with the registration of liens on the rare occasion when such action may be necessary. In the event that legal services are required, any fees with respect to some will be payable by the respective unit owners. Monthly schedules of arrears will be provided to the Board of Directors.
  • 3 Preparing an Estimated Annual Budget for consideration by the Board of Directors, approximately three months prior to the end of the budget year. In the preparation of the budget we will take into consideration the legal requirements regarding the long-term reserve fund for repairs and replacements.
  • 4 Providing to the Board monthly the following financial information:
  • Balance sheet;
  • Statement of Revenue and Expenses;
  • Accounts payable and accrued liabilities;
  • Cash disbursements;
  • Statement of arrears of common expense fees;
  • Comparison to budgeted figures for the current year;
  • Copies of investment certificates, as applicable;
  • Copy of monthly bank statement;
  • Bank reconciliation statement;
  • 1 Investing available funds, from time to time, in suitable investment vehicles as authorized by the Board on behalf of the corporation.
  • 2 Maintaining a complete receivables system concerning the collection of all common element assessments and other sundry charges.
  • 3 Receiving, recording, checking, and promptly paying all invoices related to the common elements by the procedures arranged with the Board and within the limits of the Management Agreement. We will ensure that all available discounts are received in the best interest of the corporation.
  • 4 Maintaining a complete payroll system for any personnel of the corporation.
  • 5 Subject to the provisions of the Condominium Act and the condominium's documents, handling all insurance claims concerning the insurance carried by the Corporation act and the corporation's documents from time to time.

Status Certificates

A fee of $100.00 or such other amount as may be allowed under Condominium law, from time to time, will be charged to the individual or company requesting such certificate and will be payable to No. 1 Simply Management.

Maintenance Services

The following is a brief outline of our services pertaining to the maintenance of the common elements.

No. 1 Simply Management

  • 1 Assign a qualified, experienced condominium manager who will attend at the property as required by the corporation and agreed upon signing of the agreement. The manager will also attend regular directors meetings and general meetings, and as indicated in the following, emergency services will be available at all times.
  • 2 Brief written report will be included in our regular Management reports, which will be delivered to all Directors a minimum of 2 days prior to each monthly meeting or at such earlier time as is mutually agreed upon. These reports will.
  • Highlight any arrears of particular interest or concerns;
  • Report on any items requiring decisions by the Board of Directors;
  • Provide any specific reports requested, including quotations.
  • 1 Provide daily telephone or a personal response to unit owners for all matters, which are within the responsibility of the management company, and arrange for the required repairs or other necessary action to be carried out.
  • 2 Provide supervision of the corporation's personnel and/or all contractors in connection with maintenance matters.
  • 3 Issue purchase orders for services, supplies, and materials as required and authorized in accordance with procedures agreed upon with the board and the provisions of the Management Agreement.
  • 4 Call for quotations for services and/or prepare as required and submit same to the Board of Directors for approval where required.
  • 5 Except in cases where independent professional services are available, prepare contracts for services in accordance with the required specifications and the approved tenders or as otherwise authorized by the Board.
  • 6 Make recommendations to the Board with respect to maintenance matters, including preventative maintenance procedures.
  • 7 Make available to all members of the corporation a 24-hour answering service to handle emergency matters. We maintain a paging system for our property Managers in order that they may be contacted by our office at any time. They are also provided with cellular telephones.

Parking controls and security
We will assist the condominium with its parking and security policies and controls and make recommendations regarding the same.

Public relations and by-law enforcement
We will take the following step to ensure the condominium's documents and policies are adhered to:

  • 1 Ensure that all further by-laws and amendments to the existing Condominium documents which are passed, are properly registered and that notification of same, and also of any new or amended rules and regulations, are issued to all unit owners'
  • 2 Enforce the by-laws in accordance with the procedures agreed upon with the Board of Directors, including consultations with, and instructions to the corporation's solicitors in the event that such action is necessary.