CONTACT AIRDRIE: 403.948.0337
CONTACT OLDS: 403.356.2983
Download the slides from Kate Kozowyk’s presentation to the Alberta Condominium & Real Estate Conference in September, 2022.
Topics covered include:
“Improper Conduct”
Costs
Highlights from Alberta Court Decisions in 2021/22
Alberta Human Rights Tribunal and Recent Rulings
Bylaw violations
Astoria provides a 24-hour emergency (Actual Condominium Manager) service to address urgent situations. This ensures that there is someone available to handle emergencies such as heating, flooding, security, etc.
Astoria will assist with the transition from a developer-controlled property to a condominium corporation managed by owners or the Board. This involves facilitating the transfer of responsibilities, documentation, financial accounts, and operational control from the developer to the owners or the Board.
Astoria will oversee the maintenance and repair of the condominium property. This includes inspections, coordinating necessary repairs and maintenance tasks, hiring and supervising contractors, and ensuring the property is well-maintained and compliant with safety regulations.
Astoria assists in facilitating communication and resolving disputes between owners and the condominium board. We will act as mediators or provide guidance to help find mutually agreeable solutions to conflicts.
Astoria will enforce the condominium’s bylaws, rules, and regulations. We communicate and educate owners and residents about the bylaws, address violations, and take necessary action for compliance, which may include issuing warnings, fines, or other enforcement measures.
Astoria, on your behalf, will provide site staffing services, such as hiring and managing on-site personnel like security guards, maintenance staff, concierge, or property managers. We ensure that the property is adequately staffed to meet the needs of residents and maintain the common areas.
A reserve fund study is conducted to assess the long-term capital needs of the condominium. Astoria will help coordinate and oversee this study, which includes evaluating major components, estimating replacement costs, and recommending appropriate reserve fund contributions.
Astoria administers tasks such as drafting and sending letters to owners or residents, preparing and processing caveats and estoppels (documents related to property liens and legal disclosures), and assisting with other administrative documentation required by Boards, owners, governing bodies or legal obligations.
Astoria will take the primary role in obtaining appropriate insurance coverage for the condominium property. This includes working with insurance brokers to ensure the property has adequate liability insurance and property insurance coverage.
Astoria handles financial matters related to the condominium. This includes collecting and managing condominium fees, paying bills and invoices, maintaining financial records, preparing financial statements, and providing financial reports to the Board.
Astoria offers customized management agreements tailored to the specific needs of each condominium property. These agreements outline the scope of services provided and the terms of the management arrangement.
Astoria assists with the overall governance of the community by supporting the homeowner association’s Board of Directors. We will provide guidance, support, and resources to Board members, helping you fulfill your roles and responsibilities effectively.
Astoria will facilitate communication between homeowners, providing updates, newsletters, portal notices, and SMS messaging as a way of keeping residents informed about community events, policies, and important announcements.
Astoria Property Managers keep property owners informed about the status of their rental properties through regular reporting and effective communication. They provide updates on tenant occupancy, financial performance, and any significant property-related matters.
In unfortunate cases of non-compliance or lease violations, Astoria Property Managers handle the eviction process according to legal procedures. They work with legal professionals to file necessary documents, schedule court appearances, and regain possession of the property.
Astoria Property Managers must stay updated on local, provincial, and federal laws and regulations pertaining to rental properties. They ensure compliance with related governing authorities.
Astoria Property Managers act as a point of contact for tenants, addressing their concerns, requests, and complaints. They aim to maintain positive tenant relations and resolve conflicts that may arise between tenants or with the property owner.
Astoria Property Managers handle the financial aspects of rental properties. They maintain financial records, prepare budgets, pay bills and expenses related to the property, and provide regular financial reports to property owners.
Astoria Property Managers conduct regular inspections of the properties to assess their condition, identify maintenance issues, and ensure compliance with lease agreements. They also conduct move-in and move-out inspections to document any changes or damages.
Astoria Property Managers collect rent from tenants and enforce payment deadlines. They may provide various owner approved payment options, track payments, and take appropriate action for late or non-payment.
Astoria Property Managers handle the creation and enforcement of lease agreements. They ensure that all terms and conditions are clearly stated and legally compliant. They also collect security deposits and rent payments and complete lease renewals and terminations.
Astoria Property Managers are responsible for advertising rental properties, showing them to potential tenants, and screening applicants to ensure they meet the necessary criteria. This includes conducting background checks, verifying employment and income, and checking references.
Astoria Property Managers oversee the maintenance and repair needs of the rental properties. They arrange for regular maintenance tasks like cleaning, landscaping, and pest control. They also handle repairs and coordinate with contractors or service providers when necessary.
Astoria will take the primary role in obtaining insurance coverage for common areas, shared facilities, and the association’s liability.
Astoria will collaborate with vendors and service providers to ensure necessary services are delivered to the community. This may include hiring and overseeing contractors for maintenance, repairs, security, or other community needs.
Astoria will provide administrative support, which includes maintaining records, handling correspondence, organizing meetings, and managing community documentation and records, including meeting minutes, financial records, and governing documents.
Astoria will enforce the rules, regulations, and bylaws established within the community. We handle compliance issues, address violations, and take appropriate actions to maintain the overall integrity and aesthetics of the community.
Astoria will oversee the maintenance and upkeep of common areas within the community. This includes landscaping, snow removal, repairs to shared amenities, and general maintenance of community infrastructure, etc.
Astoria handles financial matters such as collecting and managing homeowner dues or fees, budgeting, bookkeeping, and financial reporting.
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Astoria Asset Management Ltd. will continue developing and practicing our management services so that foremost consideration is in the interest of our clients by creating long term relationships and real value in our business decisions and processes.
Choosing a management company for your property or condominium can be a difficult choice. Astoria is committed to every property and condominium we manage; we truly care about their success. No matter the size of the property or the magnitude of the issue, our commitment is to act and/or council in the best interest of our clients.
We believe in the proper way, not the easy way. By doing our due diligence, we provide valuable insight for the Boards and Owners to facilitate fast and effective decision making. Astoria is not a “yes” company; we provide council and direction utilizing a “best practices” approach to ensure board members are properly informed with regards to industry related standards and practices.
To position Astoria Asset Management Ltd. as your “Value-Based Choice” property management company.
At Astoria, we still believe that customer service begins with customer contact. When you call our office, you speak to a real person! We maintain an on-call program which ensures that any emergency situation will be dealt with immediately. And, our Property Managers receive ongoing training in areas of email etiquette, conflict management, and overall business communications. Our mandate is to maintain professionalism no matter what the tone of the situation might be.
Astoria’s Property Managers each have diversified skill sets allowing us to create dedicated portfolios of similar property profiles. Internally, Astoria PMs regularly exchange information regarding: updates on market trends and changes, problem solving and resources, and community matters that may impact our clients. Externally, we support all training focused on industry standards and requirements through both RECA and CCI curriculums.
Vendors: Astoria hires local contractors for our on-site work as much as possible. We have a reputation for developing long term mutually beneficial relationships with both the business owners and their employees.
Clients: Astoria’s rate of retention on management contract renewals is better than 95% to date. We strive every day to ensure that all of our customers have an outstanding service experience. Customer satisfaction is our #1 business referral program.
