A proactive approach to Property Management
MANAGEMENT WITHOUT THE STRESS
Take the first step & contact our condo management team.
Performance Property Management prides itself on providing the most effective and customized property management service. By focusing on communication, transparency and a firm belief in being proactive, PPM has become one of the fastest-growing property management firms in the GTA.
Working with PPM
A common misconception held by property management companies is that a townhouse complex, converted loft building or a 30-story high rise tower are all managed the same. Our competitors believe that “management is management”. PPM believes that this could not be farther from the truth. We believe that there are significant differences in the scope of work and general goals for each and every building or complex.
With that said, this must be recognized from the beginning. Before taking on any new building PPM ensures that we are aware of the buildings' unique needs and then tailor our approach to the building in question. Not only does this include the number of hours on-site, licensing of the manager and which online platforms to use, but the property manager responsible as well. Performance Property Management handpicks the property manager who we believe best fits the building and Condo Board we are serving. By doing this we believe it sets up the board of directors, condo corporation and property management up for success.
When working with PPM, you will be working with a customer-focused firm that pushes transparency, customer service and response time, all by ensuring that your property is maintained with the best possible care. PPM is only as good as the people we employ. We believe that an enjoyable and positive work environment translates into productive property managers. We accomplish this by streamlining our employees' roles to ensure that no one is overworked. Unlike our competitors, accounting is done by accountants, management is done by certified property managers and administrative work is done by administrators. Our managers have the lowest “manager to property ratio” in the industry which allows PPM to provide additional time and resources to each and every one of its clients. This is one of the reasons why Performance Property Management has been ranked #1 on TorontoPropertyManager.ca for the second straight year.
Before PPM officially takes over the corporation it is important that we do our due diligence to ensure that we are being proactive instead of reactive. We are able to set up the corporation, Board of Directors and property manager with the best chance of success by offering the following services:
- Detailed meeting with Board of Directors and staff members
- Evaluate current contracts and procedures
- Review of the current operating budget
- Complete review of financial statements and records
- Create building inspection logs
- Implement of online portal and community website
- Create a list of priority items
- Create a building operation manual
Maintenance of your building’s common areas is important for keeping both your residents satisfied and the value of your condominium high. PPM has been maintaining high-quality hallways, sidewalks, and greenery for years. We do the work properly so you can reap the benefits.
Other services include but not limited to:
- Develop and implement a maintenance program relating to all aspects of the physical components of the building including mechanical, electrical, plumbing, fire safety system and insurance
- Detailed assessment of all solicited tenders and quotations; to ensure the best possible contractual maintenance of the complex and a fiscally responsible mandate.
- Establishment of energy and cost-saving protocols
- Provide 24 hours a day availability and on-call service. All members of our team will become fully familiar with your property. If your property manager is unavailable for any reason, the call will be forwarded to the next managing executive to ensure continuous service.
- Provide written reports and recommendations to the Board of Directors.
- Administer all contract and maintenance service needs for each individual property, including but not limited to:
- Snow Removal and Landscaping
- Pest Control
- Security Control
- Cleaning and Maintenance of Common Areas
- Garbage Removal
- Janitorial Services
- Fire Safety Inspection and Equipment Maintenance
- Window and Glass Cleaning
- H.V.A.C Maintenance.
Keeping your residents happy is critical to the long-term success of a condominium. One of the best ways to do that is to foster a healthy community. PPM are experts in making sure that all residents are kept informed and satisfied.
Other services include but are not limited to:
- Provide full compliance with the Condominium Act
- Help to effectively handle requests and suggestions from residents
- PPM uses an in-house ticketing system which ensures emails are answered within 24 hours
- Maintain a high standard of living for your residents – giving your board of directors’ peace of mind
- Ensure that all residents are compliant with all rules and policies
- Provide quarterly newsletters which contain relevant information for residents
- Keep directors aware of the physical conditions of the building, property, and equipment to ensure that the building’s values and assets are preserved
- Arrange for the preparation of Status Certificates for executives. Cost for any Status Certificates are a direct cost to the condominium owner who requests it.
- Organize work orders and scheduling for in-house staff and contractors
- Prepare purchase orders for all supplies required for the maintenance of the property
- Issue and maintain a log of security keys
- Maintain a complete condominium owner’s register file and update changes as necessary
- Prepare newsletters to the condominium owners when required
- Provide an experienced property manager to perform duties efficiently
- Hiring and supervision of qualified personnel where applicable
- Supervising all services and contracts as to obligations and performance
- Attending Board of Directors meetings and Annual General Meetings
Repairs, accidents, and issues happen in all condo buildings and townhouse complexes. To ensure that the costs and incidences are controlled, it is important to provide preventative maintenance throughout the course of the year.
PPM will implement the following:
- We will review common areas around the complex to ensure that often overlooked items are receiving necessary management
- Hydro consumption (common area lighting)
- Common element maintenance matters (painting and decorating)
- Elevator maintenance and servicing items
- Periodic building repairs and maintenance items
- HVAC preventative maintenance matters
- Periodic electrical service repair and maintenance items
- Plumbing related preventative maintenance (i.e. jockey pumps and PRV valves)
- Fire system’s security system
- Domestic hot water and heating boiler system (i.e. burners trays, heaters, and check valves)
- Water treatment and boiler operations
Collecting and maintaining financial information relating to your condominium can be time-consuming and tedious. PPM provides, in conjunction with our condominium management services, financial services. We take care of the frustration so you can enjoy the benefits of your property without any of the hassles.
Other services include but are not limited to:
- Establishment and maintenance of a computerized receivables system
- Establishment and maintenance of separate trust accounts
- Scrutiny, recording, and payment of all invoices related to the project
- Provide detailed monthly financial statements, including comparisons with budget (Current month and year-to-date). Submit actual income and expense statements with a year-to-date column, plus a column indicating the year-to-date budget
- Short term investment of surplus funds as outlined by the Condominium Act and banking regulations
- Preparation of budget and expenditures
- Formulation of capital reserve budget; predicted upon results of a comprehensive reserve fund study
- Attendance at scheduled meetings of the Board of Directors with presentation of financial and management reports
- Prepare and submit all H.S.T. returns
- Prepare unaudited financial statements and general ledgers for Condominium Corporation
- Perform payroll administration
- Performing regular site inspections and meeting all maintenance and budgetary requirements and obligations
- Maintaining relations with owners of the Corporation and enforcing the applicable by-laws and house rules
Although financial services and bookkeeping services work together, at PPM we have segregated the two services to ensure that everyone is accountable, and no one is wearing multiple hats. This allows PPM to meet all deadlines given to our Board of Directors.
Other services include but are not limited to:
- Collect and process monthly condominium fee payments
- Follow up on arrears; prepare monthly reports and payment-reminder letters, etc.
- Prepare condominium lien forms when necessary
- Process invoices for payments
- Prepare cheques and invoices for final directors’ approval and signatures
- Prepare employee cheques or payroll deposits
- Organize all payroll deductions (i.e. Income Tax, C.P.P, U.I.C, WCIB, and EHT).