Condex Property Management Ltd. is well established and specializes in residential condominium property management. Condex has been serving clients in the Lower Mainland since 1992. Over the years, we have enjoyed a high level of success and have a reputation for competence and dependability. Our strength lies in our team of professionals 'who care'. We have expertise working in and managing various sized properties. For example, some strata properties have a commercial component with shared expenses. The Condex team has become expert in handling difficult and complex situations.
We take pride in the fact that our clients are long term. Condex growth has been through referral from satisfied owners. We would be pleased to have you speak with any of our current strata councils so that they can tell you about the Condex difference.
Sense of Urgency
Critical to customer satisfaction is the promptness of response to repair and maintenance calls.
Our experts are well equipped to respond with reliable trades and deliver prompt initiative on routine matters. The experience of a dependable team ensures attention to each and every call received. Clients rely on us for day-to-day comfort and long-term protection of their home.
Property Managers are not a Revolving Door
The principles at Condex have solid business backgrounds, Graduates, Business Administration, British Columbia Institute of Technology, and are active property managers each with 25-year experience. All property managers are fully licensed and trained. Office staff have been with the company for well over a decade, providing continuity and stability.
Financial Reports & Banking
Monthly statements are customized and professionally prepared by our accountant and invoices are correctly expensed to the applicable account. Understandable financial statement and balance sheets are provided by the 15th of each month. This is supported by invoice copies, journal entries, bank statement, bank reconciliation and a listing of owner's maintenance deposits and accounts receivable. Statements are prepared on a cash basis with accrual of some items. Trades are paid twice a month.
Separate trust accounts are maintained for each client with Vancouver City Savings Credit Union. Also, based on our volume and long-term relationship, we have negotiated one of the best interest rates in the industry. Interest is earned at a rate of 1.75% below prime on the daily closing balance of all funds on deposit. The return on your funds is notable. Maintenance fees can be processed by way of individual monthly payments, post dated cheques or our pre-authorized chequing plan. Three deposits are done each month.
The overall operation is highly computerized along with other technical equipment essential in today's business world. All staff have a computer station and are networked to a number of data banks and operation functions such as accounting and administration. Our facilities and systems are state of the art, are reviewed and continually upgraded. In addition, all property managers are available in the office and carry cell phones. We are pleased that we have attracted people with good backgrounds along with the energy levels required in our industry.
Good Working Relationship
Our procedures and policies are based not only on sound management principles but also on a thorough awareness of the particular problems encountered in condominium living. Our clients enjoy 'peace of mind' knowing solid judgment is consistently delivered with a sense of diplomacy. Respect, integrity and attention to detail - this is the basis for good client and trade relationships.
Site Inspection Management
Your property manager is on site and knows your property. On site inspections are done often, depending on the size and requirements of each development. Walkabouts are done with your strata council, caretaker, and service trades. Trades tell us they appreciate the clear direction and awareness demonstrated by property managers. Condex delivers prompt initiative on routine matters.
Maintenance arrears are followed up quickly. A first notice is sent to an owner if payment is not received by the fifth of the month. If the payment remains outstanding on the fifth of the following month, an additional second notice is sent. If an owner refuses to pay or make satisfactory arrangements, a final notice is sent. Thereafter, a lien is registered on the strata lot and the owners' mortgage company is contacted.
A minimum of three quotations are obtained for maintenance and repairs of a significant nature. We work with competent trades who deliver the best possible service at a reasonable cost. Council receives a detailed contract listing for all contracts.
An inventory of all mechanical equipment for your Strata Corporation is prepared. A thorough preventative maintenance schedule is established and followed in each development to avoid premature structural deterioration and mechanical breakdown. Long term repairs and improvements are anticipated and recorded. Routine annual maintenance is discussed, scheduled and implemented. We take care of your property so you can enjoy your home.