My first Kelowna condominium listing was in 1993 in Vancouver. I remember it was on Pacific Avenue almost underneath the Burrard street bridge and noise, exhaust fumes and lots of dirt and grime on the balcony. Dealing with the strata management company was over-the-top difficult because I remember having to drive into Richmond to order the strata documents (minutes, bylaws, financials etc.) , pay in advance, then wait for them to mail them to me. No faxing, no email, no ordering by phone…..it was as though they went out of their way to make life difficult for realtors.
Fast forward to Kelowna 2011. Nowadays I can order strata minutes from a local strata company from my computer, pay using paypal and receive the documents in minutes without leaving my chair. I don’t care that the printing of these papers (average about 200 per condo sale) is now my responsibility because I’ll gladly give up toner for immediacy.
Understanding what a Strata Property management company does for the strata s is commonly misunderstood by the owners of the condos or townhomes. A Property management company can help Â keep the financial statements in order and advise on legal matters concerning strata bylaws and rules. The property mtg company usually looks after the many contractors who do maintenance and snow removal and garbage removal and the utility companies. They also keep all the minutes of the strata meetings on file. One of the benefits when a condo is on the market and receives an offer is that the Realtors contact theÂ Property mtg company for a “Realtors Package ” which contains the Bylaws, 2 years of Minutes and ad financial statements and the latest depreciation report if the strata has had one done
Thinking of purchasing a condo or townhome? Call a strata expert Andrew Smith