Accounting for condos

covid-19 resources Request a Demo Good accounting is an important pillar of a happy and healthy condo community. Condos need money to operate. It’s as simple as that. But managing a multi-million dollar budget is not so simple. With multiple revenue sources, short-term and long-term projects, bills, contractors, and more, taking care of a condo’s […]

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Condo turnover meetings

Before the meeting When the developer starts a new condo project, they create and control the first board of directors for the development. Depending on the state or province, there may be a time limit by which the developer must appoint an interim board after the condo plan has been registered. The names and addresses […]

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Top 10 strata management companies in Vancouver

Vancouver is famous for its scenic views, temperate climate and friendly people. The City of Vancouver is a popular tourist attraction, but it’s also one amazing place to live. Strata properties are popular housing options in Vancouver (and the rest of British Columbia) because they are convenient, secure, and offer perks that other properties don’t. According […]

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HOA transitions

When an HOA is turned over from a declarant, developer or builder, and control is given to members who live in the development, this process is referred to as the transition. HOA transitions are critically important to the future health and stability of developments. The group responsible for taking over will almost certainly require professional assistance from […]

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The role of the president’s report in a condo AGM

The annual general meeting (AGM), also known as an annual meeting, is arguably the most important meeting for condo communities. Members are elected to serve on the board of directors. Owners are given an opportunity to hear about the corporation’s financial health, projects, and other significant issues. In short, an AGM is a meeting where […]

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HOA surveys: Collecting feedback from your community

An association is the sum of its members. While the board of directors is charged with upholding specific responsibilities, the fate of the association ultimately lies in the hands of the owners. In order to operate at its best, an HOA needs funding, and most of that money comes from owners. These community members also […]

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HOA committee charters

HOA committees can be incredibly helpful to boards, and the HOA as a whole. A well-organized committee can shorten the long-to-do list for busy board members, and build a more productive and cohesive community. However, it’s important for HOAs to only create committees that are needed. Each committee must have a clear and defined purpose, […]

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4 ways to use Tableau to improve condo/HOA operations

The numbers don’t lie. Condos and HOAs need numbers to understand essential things like profits and losses, as well as more complex issues such as scheduling maintenance repairs for equipment. Numbers provide boards with concrete facts, and help them make informed decisions for their community. Instead of acting on a hunch, they can act on […]

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How to write an assessment letter for HOA members

Don’t believe the rumours. Special assessments aren’t just for condo communities. Any covenanted community can have special assessments imposed; this includes gated communities and HOA-governed communities. Click here to download our special assessment letter template What is a special assessment? Why do homeowners cringe when they hear the words “special assessment?” A special assessment is […]

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Using QuickBooks for condominiums

Every successful business is supported by healthy cash flow. Though condominium corporations are considered not-for-profit organizations, they still need to generate revenue to operate well. Someone needs to keep track of profits and expenses to ensure there is enough money coming in to maintain the value of the property and ensure its longevity.    Good […]

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How to write a special assessment letter for condo owners

Condo buildings are complex and intricate, and they require a reliable source of revenue to maintain the structure, repair systems, keep everything clean, cover emergency or unexpected costs, pay staff, etc. Much of this money comes from owners in the form of condo fees. However, on rare occasions, the corporation or association may be hit […]

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