Strata Management
Buildings Under Management
Cedar Hill
Pacific Village
Shamrock Professional Centre
Summerwood Village
Diversified Properties Ltd. has been providing property management services for 22 years.
In addition to the management team, we have a full-time staff of 15, including property managers, commercial realtors, site managers, maintenance personnel, and administration and accounting staff. Our portfolio consists of residential and commercial strata corporations, as well as commercial, industrial and residential investment properties.
Accounting and Financial Reporting
In addition to a monthly balance sheet, income statement and detailed general ledger for each property, we prepare a written operations report outlining owner receivables, a re-cap of operations and a description of variances from budgeted operating expenses. We also outline any extraordinary incidences or abnormalities with the property, which may have occurred during the month.
Each year we obtain quotes from suppliers so we can obtain the most effective pricing for our clients. On an annual basis we prepare a maintenance budget and a five-year maintenance plan for review and discussion as well as review the contingency fund requirements and forecast. For major repairs, we obtain three estimates for competitive pricing purposes and these are discussed with the Council prior to contracting the work.
Each Strata Corporation is operated from a separate trust and contingency fund bank accounts to ensure that owners' funds are segregated. Our trust transactions are required under the Real Estate Act to be audited annually by an independent firm of chartered accountants. The Province of British Columbia licenses our property management services and we are bonded by a fidelity bond.
Contact Michael Smith for additional information:
250-475-3700
mjsmith@divprop.com