Strata Management
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Managing a strata corporation is a time consuming business. Although council members can contribute their time their involvement, participation is not always consistent or adequate. To keep daily operations running smoothly and to benefit from professional insight, hiring the services of a strata agent can be very productive.
Magsen Realty is a licensed strata agent providing a full range of strata management services designed to meet the needs and goals of strata corporations throughout the Lower Mainland. We distinguish ourselves by our commitment to dedicated service, and a motivation to exceed the expectations of our clients.
Our Strata Management Services
A Administration
- Act as the strata corporation’s registered office
- Retain and update records of owners, occupants, contractors and suppliers
- Receive and respond to correspondence from owners, tenants and contractors
- Hold council meetings and provide minutes to the owners
- Hold general meetings and circulate notices of general meetings
- Maintain communication with staff, council, owners, tenants and contractors
- Prepare "Information Certificate" (Form B) and "Certificates of Payment" (Form F)
- Arrange insurance and appraisals, as required upon renewal
- Enforce strata bylaws and rules as required
- Review and prepare amendments to bylaws
- Hire and supervise strata corporation employees
- Maintain 24 hour 7 day a week emergency answering and response service
B Performance
- Hold council meetings and provide minutes to the owners
- Hold general meetings and circulate notices of general meetings
- Carry out inspections of common property
- Prepare a schedule of regular maintenance
- Arrange routine servicing of common areas
- Arrange extraordinary repairs as required by council
- Make contracts with qualified contractors on behalf of the strata corporation for utilities, supplies and services as deemed necessary
- Invite quotations for contract maintenance and repairs
- Hire and supervise on-site staff as required
C Financial
- Maintain separate bank accounts for the operating and reserve accounts
- Prepare monthly bank reconciliations
- Collect, record, and deposit strata fees and all other income including special assessments, interest, fines and miscellaneous income
- Process accounts with pre-authorized payment arrangements
- Maintain monthly owners’ ledgers and follow up on account arrears
- Review and pay all invoices according to pre-established guidelines
- Provide monthly financial statements with balance sheet, operating statement, comparative operating statement, cash flow statement and reserve funds statement
- Prepare a budget for each annual general meeting
- Assist in long term capital expenditure budgeting
- Meet and surpass all financial requirements of the Strata Property Act
Our Strata Management Team
Magsen Realty Inc. is proud to have the following licensed strata managers, accountant, and supportive staff providing efficient services to satisfied strata owners in Greater Vancouver and the Fraser Valley.
1 Mr. Billy Yu, B.Sc. - Managing Broker
Mr. Yu is the managing broker and owner of the company. He is licensed for strata management and has twenty one years of experience in real estate services and twelve years in strata management in B.C. He speaks fluent English, Cantonese and Mandarin. He oversees the overall operations of Magsen Realty Inc.
2 Mr. Eric Chung, B.Comm. - Strata Division Manager
Mr. Chung is a fully licensed strata manager with over fifteen years of property management experience in B.C. He received his education in England and Canada, and speaks fluent English and Chinese. He supervises all strata managers in the company and oversees the management of all strata buildings.
3 Mr. Francis Li, M.B.A. - Associate Broker
Mr. Francis Li has been a licensed strata manager and property manager in the Greater Vancouver for almost ten years, managing residential, commercial, sectioned strata, as well as shopping malls.
Mr. Li’s prior experience includes years of working as an accountant with a major bank in Hong Kong. He also possesses a degree in business administration, and has obtained the four licenses offered by the Real Estate Council of BC, namely, Strata Management, Rental Management, Trading Service, and Brokerage.
4 Mr. Aaron Jiang, CGA - Company Accountant
Mr. Jiang is a Certified General Accountant with eleven years of accounting experience in Canada. He is in charge of the Accounting Department in the company and works closely with the property managers in the preparation of financial statements, budgets, and other reports for strata properties under management by Magsen Realty Inc.
5 Management Staff
Our management staff consists of a well coordinated group of support staff with specializations in accounting, secretaril and receptionist duties. They are well trained in their respective disciplines and work as a team to provide dependable support for our strata managers.
To meet your specific requirements please contact our senior strata agent Eric Chung at 604-872-3218 or email: info@magsen.net