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Condo Management Services

Management Services

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Banking and Payments

JEMS collects and deposits all monies on behalf of the Condominium Corporation. We require view only access to online banking and bank statements are sent to the JEMS office. All cheques for accounts payable are prepared for signature as the Board directs.


Financial Statements

JEMS prepares financial statements for monthly electronic distribution to Board members, this includes a budget comparison explaining any variances, accounts receivable listing and detail about how we are working on collecting those accounts, accounts payable listing since the last financial report, and a copy of the most recent bank statement. This ensures the Board of Directors is aware of the financial status of the Corporation at all times and can make better decisions based on knowledge and factual information. We work with the Board appointed accountant to ensure they have all the relevant information in a timely manner to complete the annual statements, file the appropriate income tax returns and furnish the professional statements as required under the Bylaws and the Condominium Property Act (CPA) of Alberta.  


Administration

JEMS maintains an owners roster including mortgagees who have notified the Corporation, email minutes to owners who have provided email addresses, provide contact phone number to take all the day-to-day phone calls, emails and written correspondence from owners about repairs, complaints, questions, concerns – these are all logged and reported to the Board monthly.  Prepare newsletters (maximum of 4 per year) as directed by the Board.  Any additional requests from the Board, including, but not limited to performing surveys and arranging inspections of individual units etc.

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Financial Record Maintenance

JEMS keeps accurate records of account for all financial transactions, supporting documents and correspondence relating to the financial operations of the Corporation. All records are securely held and are available for inspection by the Board at reasonable times. 


Contributions

We process pre-authorized payment for monthly condominium contributions, accept payment and provide receipts at our office location, deposit cheques or cash into Condominium Corporation’s bank account.  JEMS also send notices, overdue notices, register caveats, initiate foreclosure proceedings through legal counsel in accordance with Board resolution for collecting Condominium Contributions and bill NSF charges for any returned payments.


Building and Ground Maintenance

JEMS performs an annual site inspection (typically in spring) and provide a report to the Board on recommended repairs, ensure the Corporation’s preventative maintenance schedule is being adhered to, if one doesn’t exist, work with Board to develop one. Ensure any contractors who work on site have adequate liability insurance and WCB, when applicable. 

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Annual Budgets

JEMS prepares and submits a draft operating budget to the Board. The Board retains their responsibility to change, amend, modify or accept the draft Budget as they see fit, under the authority of the Bylaws and the Condominium Property Act (CPA) of Alberta.  JEMS assists the Board in determining the appropriate amount of assessment to be paid by each owner.


Governance

We ensure the Condominium Corporation is in compliance with the Condominium Property Act (CPA) of Alberta and its Bylaws. JEMS provides advice if the Board or owners wish to make amendments to Bylaws, and we liaison with legal counsel for all Condominium matters where legal advice is required and report back to the Board.


Bylaw Implementation

JEMS enforces bylaws in accordance with the Board’s direction and reports to the Board on all enforcement activity. 


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