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® : What you should expect from a manager ® ® Jonathan Swift described such a group by saying, "Blessed are they who expect nothing, for they shall never be disappointed!" â€" but I would hasten to add, neither would any corâ€" poration for that is exactly what they can expect â€" Nothing! So, what should you expect from a manager? A competent manager should be able to prepare an annual budget forecast, based on past experience and cost trends. Any board, when looking for management, should also include the following in their list of expectaâ€" tions: A monthly financial statement Someone has said, "The Irish don‘t know‘ what they want â€" and they won‘t be satisfied until they get it!" There are a lot of condominium corporations who are in the same position when it comes to looking for professional manâ€" agement. They make the mistake of not having decided what to ask for when they engage a management firm to look after the dayâ€"toâ€"day affairs of the condo. Countrywide Town Centre Realty Inc. â€" 280 North Service Rd. W. Oalkwille, Ontario LGM 255 â€" s JEFF PEARCY Bus. 338â€"6550 24 Hour Pager | $129,854 | _ $178,750 Countrywide TA «W «N . C« Eâ€"â€" .N /TaA:R.â€"â€"E 338â€"6550 board should get as well, a preventaâ€" tive maintenance plan with a progress report on its operation. In the contract with the manager, should be a clause that he is available on a 24 hour basis for emergencies and that his firm is willing to accept liability for any misâ€" takes that cost the corporation money, such as errors in estoppel certificates and common expense arrears that went The second important requirements would be for the property manager to present to the board a monthly repair statement with a general maintenance schedule and progress report. The well you will want an age(i expense arrears list to prevent having to enforce unnecessary lien applications. expense account covering the current month, including the year to date and the comparative budget figures. As showing; a balance sheet, an income flDDD D000D & _ |_$224,750 | |GARTHDALE CRT.) Bus. 338â€"6550 24 Hour Pager ALLAN BAIN $369,900 | he If all these precautions seem to be ‘aâ€" somewhat paranoid, it‘s because "A ss paranoid"," according to William ict â€" Burroughs, "is someone who knows a se little of what‘s going on." Such planâ€" is â€" ning on the part of a board is known in is the civil service as C.Y.A. (or to put it sâ€" politely, Protect Your Derriere), forâ€"it y, is far better to be safe than sorry. es Though this is a formidable list of nt â€" requirements, it gives a good insight to unliened. Other items in the contract should include adequate liability and fidelity insurance with proof of certificate. An agreement regarding the termination of the contract within 60 days, without cause, attendance at regularly called board meetings, periodic onâ€"site inspections and an agreement to indemnify the corporation from all liaâ€" bility, however caused, including negâ€" ligence or illegal actions by the managâ€" er and/or employees. PARANOID Above all the board should be ready to let the manager manage. When a director is faced with a complaint from an owner, don‘t let yourself be tempted into trying to resolve the matter, that is what you have hired the manager to do. Tell the owner to submit his probâ€" lem to the board in writing â€" or if the problem requires an immediate answer have the owner call the manager directly, do not step in or interfere. In order to avoid cross currents and confusion, assign one director to act as a liaison between board and manageâ€" (See ‘Deal‘ page 19) There is, however, another aspect to be considered when going professionâ€" al. What is the corporation‘s responsiâ€" bility towards good management? As we all know, this cannot be a oneâ€"sided relationship. For it to succeed the board should be ready to be open to new ideas and new approaches. Managers of Ontario? Finally, how extensive is the supâ€" port staff of that company such as accountants, engineers and backâ€"up personnel to take over in case of holiâ€" days or illness? These are some of the credentials that should be studied when choosing management. agreement, select the companies you are prepared to consider. Submit to each your requirements and agreement and after receiving replies, interview the companies and in particular the manager with whom your condo would be working. It‘s not a bad idea to have a committee which includes some owners, together with the directors, in the selection process. Obtain references and follow them up. Talk to corporations using this compaâ€" ny and get their reaction. Does the company have a professional image? Are they active in condominium assoâ€" ciations such as the C.C.I. or the Association _ of _ Condominium Managers of Ontario? Having been convinced that you should look for professional manageâ€" ment, how do you go about hiring a firm to deal with the nitty gritty of daily operation? Having by now a clear idea what it is you want your manager to do, you should set down on paper a complete list of his responsibilities. Next you prepare a draft management The basic requirement for a compeâ€" tent management company is that it must be experienced in condominium budgetary matters, in the control of costs and in the forecasting of future expenses. Proof of its financial stabiliâ€" ty and a sound appreciation of prevenâ€" tative maintenance with the agreement to respond to all the affairs of the corâ€" poration without undue delay. As we continue our search for the organization who will be entrusted with the job of accomplishing under Section 12â€"(1) of the Act "The objects of the corporation to manage the propâ€" erty and any assets of the corporation," it might we well to review briefly what some of them are. the complexities of management and that there are many factors that should be taken into account. Next, we plan to present a suitable course of action for any Board to folâ€" low should they be considering for the selection of a management company to assist them to manage the property and any assets of the corporation as they are required to do under Section 12â€"(1) of the Condominium Act. L. Grant Glickman once made the claim that, "Behind every great man is a woman with nothing to wear." Perhaps we might add that behind every great condominium manager there‘s a corporation with no problems to bear. NITTY GRITTY