A New Property Management Company Hamzeh Roumani, Board of Directors President June 8, 2015

The Selection Process

• As a member of the the Shared Committee (whose membership comprises our casitas and the two towers), I was involved in the process of selecting a property management company for our complex. This contract is probably the most important among all our service contracts because it affects everything: from budgeting and accounting to administering and customer service.
• We have been with Del Property Management since our complex was built back in 1995. The other two corporations in our complex, representing the two towers at 88 and 880 Grandview Way, have also been with Del since their inception, and so is the Shared Facilities Committee. These four contracts add up to about a quarter of a million dollar annually.
• To me, the number one priority in selecting a property management company is the safety of our funds. I have heard many horror stories (surprisingly too many) in which very large sums of money were stolen from condo corporations by contractors and/or property managers working by themselves or in collusion with Board members. The management company must thus have strict policies, detailed processes, and checks and balances in place to ensure that funds cannot be accidentally or intentionally transferred to the wrong party. Given the number of monthly transactions and the number of parties involved, this is not an easy feat to accomplish. Bigger companies are often better at this because they can afford to add redundancy to secure their processes.
• Beyond the safe keeping of our money, I look for a company that has the technical expertise needed to ensure the safety and comfort of the residents, and the customer-service mindset needed to interact with them. These aspects rely, to a large extent, on the experience of the onsite manager, but they also benefit from backoffice resources and company-wide policies and structures.
• We requested quotations from four companies: Brookfield, Canlight Hall, and FirstService in addition to the incumbent company Del. The selection process involved extensive reviews, detailed comparisons, presentations by the CEOs, interviews, and reference checks.
• In the end, we selected FirstService (link). This company has been in business since 1998 and has over 280 condominium complexes under their management. They also offer (separate) security and cleaning services but we didn't opt for these.
• The FirstService bid was ~25% lower than what we currently pay. Their fee increase is capped at 2.5% for Year #2, and 2% for Year #3 of the contract.

Transition and Timeline

• June 30th will be the last day for Del. The first day for FirstService Residential will thus be July 1st.
• Transitioning is a complex process and is fraught with 'challenges'. Bank accounts, investments, post-dates cheques, contracts, and a host of other documents need to be moved. The process has already started and will continue until the end of the month. Things are bound to lapse during such a transition and your Board is trying its best to minimize the fallout.
• FirstService will throw a 'party' sometime in July to welcome all residents. As such, there will be no BBQ event this year but we will hold our exchange/give-away during the FirstService welcome party.
• Our AGM (which is normally held in June) will need to be delayed this year to give the new management company enough time to settle, finalize the financial audit, and send the notice. By law, the AGM has to be held within 6 month of fiscal year end, so we have in theory until the end of August, but I hope we can do it much sooner.
• The last phase of the stair coating project (see my previous Blog) will be completed this week. This critical project (and the mess it creates) has delayed a number of other projects and activities such as the window washing, front-doors painting, gardening contest, and the community garden. These will be started very soon.

Perennials

I would be remiss if I ended this blog without saying a word or two about two topics that continue to be ignored by some of us. Here are a few quick reminders (see also my previous blog):

• If you are doing any kind of repair or reno work in your unit, you must go to the management office first and fill a form. Failing to do so leaves you open to liability and allows the manager to undo the work at your expense.
• Note that all repair and reno works must be done on weekdays between 9 am and 5 pm.
• The gazebo area is not a playground. Children of any age may not play or ride bicycles or skates in it or anywhere else onsite (including the corridors). Use the playground in McKee, Northtown Park just North of us, or at Kenneth and Byng instead.
• Please be considerate of your neighbours at all times and particularly before 8:00 am and after 8:00 pm. Ask your visitors to observe these quiet times when they drive and park their cars around Grandview Way.

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Note: Views expressed in this blog do not necessarily reflect the official position of MTCC 1113. They were written by Hamzeh Roumani, the President of the Board, and reflect his personal take on things.