Condominiums

The associates and experts at Groupe Engitec provide an extensive range of management services to condominium (divided co-ownership) and co-op (undivided co-ownership) properties. Our experienced staff works diligently to maintain the highest standard of care at competitive prices. Groupe Engitec’s goal is to provide co-owners with the expertise and personal attention they deserve. On behalf of the condominium association, representing the interests of each of the unit owners, we strive to promote cooperation among stakeholders and enhance efficiencies, in order to increase the value of their real estate investment. Our track record of reducing costs and streamlining operations allows us to keep monthly condo fees as low as possible while maintaining unparalleled levels of service.

Services offered:

Financial management:

At month end, board members are presented with a detailed ageing report of accounts receivable. Co-owners with past due accounts are promptly notified with a letter and statement. In the event that payment is not received within the designated time frame, the board of administrators will be advised to pursue further action.

  • Revenues
  • Cash receipts
  • Cash disbursement
  • General ledge & trial balance
  • Deposits of condo fees
  • Investment of the reserve fund
  • Monthly financial statements
  • Real expenses/budgeted expenses

Reserve Fund:

With today’s volatile economic environment, the experienced team at Groupe Engitec emphasizes the necessity to build a substantial reserve fund. The need for maintenance and repairs can come without warning, despite diligent inspections and preventative measures. To ensure that co-owners do not need to worry about raising condominium fees in order to afford unforeseen costs, the property managers at Groupe Engitec negotiate directly with the bank to obtain the best possible interest rates for term deposits and investments. Cost savings from the efficiencies we provide in day to day operations contribute to the growth of the reserve fund. Groupe Engitec’s management gives clients the peace of mind they desire, while we take a hands-on approach to managing their investments.

Transfer of administration from the developer to the condominium association.

The assistance in transfer of responsibility from the developer to the association is essential in order to assure a smooth and proper transition for the maintenance of the property. Drawing on years of experience, Groupe Engitec has implemented a program to facilitate this transfer of responsibility. Our technical background allows us to assist the new board in managing and improving the building and all its common areas:

  • Strong interaction and good rapport with the association & unit owners
  • Shared vision with all stakeholders
  • Seamless transfer of administrative duties between developer and the association
  • Knowledge of by-laws
  • Supervision of election of association
  • Reporting at association meetings and the annual general meeting

Relations with co-owners/tenants:

Our experienced property managers are there to respond promptly to any complaint or concern. The managers follow a strict protocol to ensure all issues are resolved after the complaint has been received and analysed. In the event of an emergency, property managers are available 24/7. We maintain an exclusive network of competent and qualified service providers that are readily available at competitive prices for our clients.

Preventative Maintenance Programs:

Our qualified property managers inspect the property on a regular basis. For any corrective measures, Groupe Engitec has the experience and expertise to take the proper course of action with the client’s best interest in mind. Groupe Engitec offers customized preventative maintenance programs for each of our clients. From years of experience, we have proven that our proprietary maintenance programs reduce the need for future repairs.

In the event that there may be a need for major repairs, construction or renovation, our qualified professionals will supervise and manage all projects. The value that we add to each mandate is the professional engineering designation which grants us the ability to deal with architects, designers, contractors, and subcontractors at a professional level while managing to control the costs for our clients. Our experience has enabled us to complete superior quality projects on time and on budget