ACCOUNTING AND FINANCIAL SERVICES
Exceptional financial services are the cornerstone to successful property management. The books and records of the corporation are maintained on an accumulation basis in compliance with GAAP, CICA and the Condominium Act. Our managers are well versed in all financial aspects and our accountants remain available to meet with you should the need require.
MONTHLY FINANCIAL STATEMENTS
All monthly financial statements will be prepared by the 20th of every month in compliance with GAAP, CICA and the Condominium Act guidelines for condominiums. These are distributed to the board either by hand or by email depending on their preference. A sample of our financial statements is attached for your review in the Appendices.
ANNUAL BUDGET PREPARATION AND REVIEW
Whitehill Residential will prepare and review your annual budget for the Board’s approval. This budget is done through an analysis of utilities and consumption, contract reviews and factor in any upcoming special projects. The monitoring and management of all utilities is the key to successful budgeting and all Whitehill managers are aware of bulk buying and current government incentives.
COMMON ELEMENT FEES
Whitehill Residential uses Shiftsuite for its accounting and backend system. Maintenance fees are due on the 1st of every month. Residents in arrears will be sent a friendly reminder 3 days after the end of the month. If payment is not received within thirty (30) days of the statement, further written correspondence will be provided stating the corporation’s specific grace period. Failure to respond initiates a follow up by telephone. If there is still no response, a Notice of Intent to Lien will be filed before the 2nd month. Before proceeding with the registration of the Lien before the 3rd month. We will ensure the owner is notified in writing by issuing a form 14. Whitehill also ensures that sufficient time is available to register a lien after a form 14 notice has been sent.
FINANCIAL RECORD REVIEW
Review daily/weekly/monthly accounting figures related to receivables, payables and other financial records.
PAYROLL ADMINISTRATION FOR EMPLOYEES
Whitehill Residential provides a wide variety of services for the employees that work in your building including payroll register for each employee, support and advice on payroll issues, standard performance review, site-specific job description for each employee, internal controls on hours, time sheets, payroll and government remittance, and personnel record keeping.
RESERVE FUND STUDY REVIEW
Review the Reserve Fund Study and update as per the Condominium Act.
INVESTMENT OF CONDO SURPLUS FUNDS
We work with a number of investment brokers and financial institutions to ensure our clients investments maximize their earning potential, are suitable to their needs and are compliant with the Condominium Act. These investments will be organized and staggered inline with upcoming projects set out within the annual budget and Reserve Fund Study.
Dedication to Safety
Whitehill management works with numerous safety and security industry leaders. It is through our partnerships with them that we can enforce safety and security best practices to ensure your community is both resilient and prepared for any emergency that may occur.
Safety and security is only effective if everyone within the community is aware. Not only will Whitehill Residential review all safety communication documents such as Fire Safety Plan, emergency preparedness protocols etc., but we will provide residents with informational nights that explain and discuss safety related issues.
We ensure all your safety standards are not compromised. Your fire systems, lighting and signage are carefully monitored for their effectiveness and if needed, a full audit will be conducted should any concerns arise.
The Whitehill management team is on call 24 hours a day, 7 days per week ensuring that every emergency that arises is responded to with alacrity.
We prepare and encourage formal written communication with all owners regarding building concerns, account balances and information pertaining to the Rules, Regulations, By-laws and Declaration. These could be in the form of welcome packages, newsletters, resident memos or bulletins. For any corporation with a strong desire to be green, email communication can also be arranged.
COMMUNICATING WITH THE BOARD OF DIRECTORS
All general inquires will be attended to in a timely manner. Alternative contacts will always be provided in case your manager is unavailable.
COMMUNICATING WITH RESIDENTS
Whitehill Residential always provides a “meet and greet” night shortly after our transition into the building where all residents will be invited to attend. Our aim is to make our managers approachable to all residents, which will strengthen the cohesiveness of our operations.
INQUIRIES AND COMPLAINTS
Whitehill Residential addresses all inquires and complaints in a professional and timely manner. All managers are adept at conflict resolution and handle any inquires and complaints in accordance with the corporations polices, the board’s direction, our company’s policies and legal counsel.
Daily Operations & Maintenance
Whitehill Residential ONLY works with approved, reputable, fully licensed and bonded contractors and trades. We handle every step of the tendering process and provide our clients with impartial, reliable expertise. All contracts and proposals are carefully reviewed to avoid any missing items or doubling of duties.
Every Contractor/trade is supervised throughout the onsite project. We not only ensure that the work is being done correctly, but that it is a minimal inconvenience to the residents.
Property mangers conduct weekly site inspections (structural, mechanical and building aesthetics). These are compiled into reports, which will be discussed at board meetings. Formal inspections and evaluations are made of all work completed at every site. We actively track and monitor the work in relation to deadlines, accountability, cleanliness and value for money. Whitehill stores this information, which can determine whether they are considered for future projects.
NON-CONTRACT REPAIRS, MAINTENANCE
All of the corporation’s repairs and maintenance are documented and scheduled to ensure all services are performed in a timely and proactive manner. This schedule is discussed and approved by the board on an annual basis. Knowing when scheduled maintenance is required helps our managers effectively deal with unscheduled building repairs in an attentive manner. Monthly building inspection reports are also provided.
All preventative maintenance is discussed with the Board and documented in an annual calendar. All third party contractors and tenders will be coordinated using this service delivery timetable.
Accurate and complete record keeping is imperative for a smooth and seamless management service.
All resident records, building records etc. will be maintained onsite if an office is provided. These records are the property of the corporation. Accounting records are initially maintained at head office and the appropriately filed in the onsite management office. We organize and maintain all corporate records as defined by section 55 of the Condominium Act.
Corporation Data Sheets
We prepare and maintain project management sheets for each building. These contain important details of the building, operations and maintenance, and include all contacts, telephone numbers, trades and emergency numbers.
Whitehill Residential prides itself in providing detailed, well prepared Status Certificates. A status certificate is often the first interaction with a new purchaser may have with our company therefore we endeavor to provide them with a smooth and professional experience.
Our managers will attend all monthly board meetings along with other members of our team and experts/consultants and recording secretary as necessary.
Our managers will prepare a detailed agenda, containing a managers report, financial statement, committee report (if necessary), previous minutes, quotes and correspondence which will be sent out as per the condominiums policy and all statements will be presented and discussed in a way that suits our clients.
ANNUAL AND SPECIAL GENERAL MEETINGS
Your property manager will make all AGM and special meeting arrangements. This includes booking a venue (if necessary), organizing the set up, mailing out AGM/special meeting packages within the correct time frame, arranging a recording secretary, confirming auditors attendance (if necessary), confirming any requested speakers, printing registration packages such as ballots, owners lists, arrears lists and any additional documentation.