If you’re in the process of evaluating property management companies, you’re likely overwhelmed by the data available. There are regulations to consider, costs to review, and long-term goals to meet. Zero in on the most valuable elements for exceptional strata management as we explore seven questions to ask when selecting a management service.
1. Which Software Do You Use in Your Management Service?
Software and digital tools bring convenience and speed to the strata manager role. Ensure the company has the requisite tools to meet your building’s needs. For example, does the company operate an online strata software portal that residents, strata council members, and building owners can use for various tasks?
Another consideration is data security: does the company have a data protection strategy to protect all information stored on its systems against potential threats?
2. Do You Provide 24/7 Maintenance Services?
If a furnace breaks down late into the night or a leak begins during the early morning hours, your tenants will rely on fast access to a strata maintenance team. Ensure the management service you select includes 24/7 maintenance services for the building. The management service should hire only the most qualified local repair professionals who have the required WorkSafe coverage and insurance.
3. What Level of Training Do Site Staff Undertake?
Staff must be able to rely upon consistent training to deliver a high standard of service to strata residents. Does the strata management firm have a clear training policy in place? Do they supervise staff regularly on-site to ensure they’re following the guidance set by the Strata Property Act? Ask about their training policies and how the company ensures staff members meet the required performance standards.
4. What Level of Insurance Do You Provide?
Does the company offer its own insurance program as part of its management service? Can they advise you regarding program administration so you can reduce your premium costs as your building ages? A strata management service with a comprehensive insurance program can help you reduce your premiums for the years ahead.
5. How Large is Your Portfolio?
Hiring a strata management service with an extensive portfolio will give you peace of mind they have significant experience in all facets of management. But if the company does manage an extensive property portfolio, ensure they have the resources to maintain all their properties. Ask how they attend to the needs of so many properties at once. And explore how they allocate their resources to each building and strata council.
6. What is Your Role in Communicating with Tenants and Owners?
The strata management team should take a proactive approach to tenant communications. One element to consider is tenant contracts. Ask the company how they handle contract negotiations with current and future strata tenants and their process for explaining any property updates to owners. The management firm needs a clear policy for communicating updates as quickly and clearly as possible, ensuring all building stakeholders are involved in each critical decision.
7. Can You Ensure Effective Bylaw Administration?
Does the management team have the background and expertise to enact and enforce strata bylaws? Ask that the company provides details on how they determine whether bylaws are effective and manage bylaws as the building and its tenant profile evolve.
Do you Have Questions About Strata Management? Book a Call with Pacific Quorum
Effective strata management sets the ideal foundation for your building and streamlines all day-to-day operations. Pacific Quorum has the resources, proven experience, and strata-specific expertise to handle all strata management needs. Book your free property management proposal today, and discover why property owners across Vancouver, Salmon Arm, Penticton, Surrey, and Kelowna now depend on our strata management to enhance the value of their buildings.