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Condo Chameleons- What does a Property Manager even do?

September 17, 2023/in Uncategorized

“What do you do for a living?” – the hardest question ever asked to a condominium manager.

Condominium managers. Property manager. CCI. CCI Grand River.

When I first started to write this, I thought about what it is to be a condominium manager, and how hard the job is to explain to people at dinner parties. Remember dinner parties?

Most little boys and girls don’t answer “property manager” when asked what they hope to be when they grow up; it seems to be a profession that just finds us, often as a second or third career.  Condominiums are unique communities (sometimes a bit too unique) that require managers to wear many hats, and none are a one-size-fits-all. A good manager is a chameleon, if that chameleon also happens to be extremely patient, an efficient communicator and great at multi-tasking.

Condominium managers. Property manager. CCI. CCI Grand River.

What is the hardest part of all that?

On the surface, the dabbling into law, building maintenance, employees, finance, HR, all the while being on-call for your buildings is a little snapshot. Getting a 2 a.m. call that there is a major flood, a fire, or visitors parking is full (everyone defines emergency differently) is never a fun experience so we are grateful when the stars align, and the phone is quiet. Having to be on the receiving end of extremely difficult phone-calls and meetings is likely one of the hardest parts of the business. No one likes to be berated for doing their job, and luckily most people are polite, but expectations are sometimes out of whack, even from the condominium Board. There are the residents that blame us for increasing condo fees (even though buildings do in fact need funds to function) and enforcing rules (we would like to spend our time doing things other than reminding residents that Christmas in June is not a thing, so those lights should come down).

So, you sit at a desk all day?

Condominium managers. Property manager. CCI. CCI Grand River.

Every day something unexpected pops up, and we often are heard saying “that is a new one”. You have never “heard everything” in property management; situations will make you scratch your head, ponder if drinking on the job is acceptable and praying you do not accidently hit “send” on that draft email. On the positive side, every day brings a new learning experience, and nothing is ever dull. You must be familiar with your site(s) and even that role varies; some property managers have an office in their one building whereas others look after more smaller properties. To answer your imaginary question, we do not sit at our desk all day, even though that would be easy to do as we get more mail than Santa Claus.

You mentioned a Board…

Condominium managers. Property manager. CCI. CCI Grand River. Board of directors.

The Board of Directors, whom we take direction from and report to, are a bag of mixed candies; some are sweet, some are sour, and some explode upon contact (pop-rocks style). They come from all walks of life, educations, and backgrounds, from students to former CEOs of multi-million-dollar companies. Sometimes it is just a husband and wife, and if they cannot find a babysitter, their child may come along as an observer. These Directors can change at any time, and so you must quickly adjust to the new random mix of personalities that get thrown at you at the drop of a hat. Some Boards are very casual and would make a sailor blush with their language. Other are very formal, and you feel the need to change into your good shirt or tie during the Zoom call and review Roberts Rules of Order before the meeting. Loyalty and trust-building can be difficult since a newly elected Board may wish to clean house and get a new management company, despite years of a strong working relationship. I personally like the adage “managers manage, directors direct” and when there is a stream-lined process in place, a condo should run like a well-oiled machine (that is, until there are not enough funds in the reserve account to operate said machine).

So, you are like a real estate agent that does superintendent work?

Condominium managers. Property manager. CCI. CCI Grand River.

Are you even listening? Where was I…the Board are the folks that hire us property managers, and as I mentioned, these people range in not just their working backgrounds, but in the type of Director they are. Some must have been military sergeants in their past lives while others are silent ghosts who disappear if you look at them too closely. Luckily for the most part, directors are there to ensure that their investment, as well as all the other owners, is being well looked after. Clear communication goes a long way in working hand and hand with the Board, and it is extremely satisfying when that major project gets completed, or you come to the end of dealing with a difficult situation together.

I still don’t get it.

Condominium managers. Property manager. CCI. CCI Grand River.

That is okay. A lot of condo home-owners do not really understand either. We are often seen as the “bad guys” who tell them their adorable family dog is not permitted, that their cigar habit is a nuisance to neighbours, or their four vehicles have nowhere to go. You can just imagine how well it goes being the provider of such good news and deflating the excited energy of someone who just purchased a new property. The CAO and ACMO provide so much helpful information on their websites, and we can only hope that those in the market for condos (which grows daily) educate themselves before purchase.

So you enjoy it?

Condominium managers. Property manager. CCI. CCI Grand River.

Despite kindergarteners not putting “condominium manager” up there on their career wish list along with astronauts, hockey players and rock-stars, it is an extremely important job that deserves more attention. There have been many articles written about the manager shortage crisis in Ontario, and hopefully more people are attracted to the profession that never gets boring. There are always interesting people to meet and connect with, and new and exciting things to learn. It also feels great to get so much accomplished for people’s homes, so go thank your property manager today! 

Sara Hicks, B.A.,(H.), OLCM, RCM, LCCI. MF Property Management. Vice President. Owner.


Sara Hicks, B.A.,(H.), OLCM, RCM, LCCI
Vice President, Owner, MF Property Management

www.mfproperty.ca

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Do Dryers and Other Home Exhaust Vents Pose a Health and Safety Risk?

September 17, 2023/in Uncategorized

Wiarton Willie told us that spring was going to come early. For birds migrating back to Ontario, this means one thing, it is time to find a nesting place. 

CCI Grand River. Home Exhaust Vents. Nesting. Condo tips. Condo safety.

As we all know eager nesters seek refuge for their soon-to-come hatchings in safe, sheltered areas. Dryer vent caps, stove exhausts, and air exchange vents are ideal locations because they are warm and sheltered from predators. A faulty or damaged vent cap or missing louvers can increase the odds you will have a new family member. 

As birds begin building nests, they pull nesting debris back up in vent lines clogging the exhaust’s path. Clogged lines for dryers can cause lint to build up back in the system and eventually into the dryer itself, potentially leading to a FIRE HAZARD. 

Not only can it pose a fire risk, but partially clogged dryer vents can also result in excess energy usage. Noting, the average load of laundry will exhaust 1.5 to 2.2 liters of water before its drying cycle is complete. Inefficiencies can drive monthly utility expenses up an additional $25 to $35 per month. 

Bees nest. Condo safety. Fire safety. CCI Grand River.

If you have been noticing moldy smells coming from the dryer, bathroom or stovetop exhausts chances are the root cause could be clogging in the line. As birds and rodents nest, inherently, they also continually deposit their droppings in the vent line causing unpleasant odors and health issues. Potentially leading to the infestation of mites. 

Though exhaust can pose a health and safety risk, it’s extremely important to acknowledge it is preventable and issues can be addressed relatively inexpensively. Having exterior vent caps and exhaust vent lines professionally inspected, repaired, or cleaned regularly can prevent these potential risks. It’s key to restore optimal velocity in airflow, ensure integrity in the exhaust structure, and the proper operation of exterior vent caps.

As the spring season continues to evolve, consider investing in the maintenance and optimal performance of exhaust venting. A couple of simple tips for Property Mangers to check off their maintenance list: 

Lint from ventilation. CCI Grand River
  1. Walk the property site completing a visual inspection of the exterior vent caps. Looking for nesting debris in the caps and/or damaged caps, missing flaps.
  2. Speak to each board member individually to ask about their individual dryers’ drying time. It should be less than 55 minutes on a regular load free of moldy smells or overheating.
  3. Review the property’s dryer vent line maintenance cleaning plan. When was the last execution date and what was the plan? Noting the Ontario Fire Marshall’s office recommends annual cleaning for everyone.
  4. Be proactive. A simple inspection and diagnosis from a trained professional could save owners money and KEEP them SAFE! 

Together, Let’s Get the Lint Out.

Patrick Stradiotto. Dryer Vent Wizard. Fire Safety. Condo Safety. CCI Grand River.

Patrick Stradiotto, Owner
Dryer Vent Wizard

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Provincial Election Background Information 2022

September 17, 2023/in Uncategorized

Questions

* Please refer to the attached ‘Background Information’ document for more information in relation to each question set out below.

1.        Condominium Act Amendments

Does your party have a plan regarding moving forward to prepare the necessary regulations and to proclaim the outstanding but important amendments to the Condominium Act? 

2.        Green Energy

Does your party have a plan to assist condominiums to migrate to green energy? If so, what incentive(s) would your party offer to condominiums to facilitate the move to green energy? Is your party prepared to have the government pay for a portion of installation costs, or offer other financial incentives? Would incentives offered to homeowners (in the more traditional sense of houses/townhouses) be extended wherever possible to condominium owners?

3.        Mandatory Inspection of High-Risk Buildings

In light of the structural collapse of the condominium in Surfside, and the Elliot Lake Mall collapse, would your government implement any form of mandatory structural inspections of high-risk buildings? 

4.        Affordable Housing

It is convenient to make arrangements with the developers to build these public features in exchange for increased density or other benefits to the developer but ultimately the cost and effort of overseeing them falls to the volunteer board at the affected condominium. What efforts will you or your party make to balance protecting the interests of the future condominium corporations while also seeking to provide affordable housing?

By virtue of their structure, condominiums have a positive impact on increased densification of urban areas versus single family homes. Condominiums contribute to achieving goals set out in Places to Grow legislation. In view of this, what is your party prepared to do to encourage condominium ownership? Is your party prepared to offer incentives to buyers of new and/or resale condominium properties? Logic says that incentives paid to developers would not energize the market in the same way as incentives paid to purchasers.  

5.        Construction Matters

What would you be doing to limit the complexity of condominiums to something that can reasonably be overseen by a volunteer board?

6.        Insurance

What would your party propose to assist condominium owners in having access to reasonably priced property insurance with reasonable deductibles?

7.        Tarion

Will your government be taking steps to monitor the recent changes to Tarion and the HRCA to ensure that they achieve their consumer protection goals. Do you have further plans to modify warranty coverage for Ontario condominiums?

8.        Condominium Managers 

Would your government take steps through the Ministry of Labour, Training and Skills Development to encourage growth in the condominium management industry by encouraging students to see management as a career path, and if so what would those steps include?

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Condo Corporation, new members, their annual conference, annual golf tournament, grand river, grand river canada, river grande, the grand river

The “Shoulda, Coulda, Wouldas” of Condominium Repairs

September 17, 2023/in Uncategorized

By a show of hands, how many of us have ignored a simple repair, only for it to become a large, complicated pain later on? 

Inspector

Whether it was a case of not having enough time, or not knowing whose responsibility the repair fell under, one ignored repair can oftentimes turn into a stack of pricey problems. 

So, how do we avoid the “should, coulda, wouldas” of condominium repairs? Oftentimes, it’s beneficial to retrace our steps and go back to the root of the problem. 

Understanding Core Responsibilities 

Whether condominium manager, unit owner, or building owner, it’s important to understand each other’s core responsibilities. Concerned if a leaky pipe is yours to fix? Make sure your board is aware of all issues as soon (or as close to) as they occur, and that professional advice is sought after right from the get-go. 

Know Your Condominium Resources 

When was the last time there was a scheduled general walk-through? Is there a contractor that your condominium typically uses? Having regularly scheduled walk-throughs and communicating the appropriate dates with all parties is crucial to building a community of trust. Organize regular check-ins within your condominium community to nurture an environment where hiding, or downplaying a repair issue becomes a seldom habit.

Don’t Ignore the Small Stuff 

It’s tempting. A small crack here, one leaky faucet there. It won’t hurt anyone, right? Unfortunately, this is something we are all guilty of. Don’t put off tomorrow, what you can do today. It’s never a good feeling when you walk into a problem, knowing that if it had been handled earlier, it wouldn’t be running up your financial bill as high as it is now. 

Board Members meeting

Hearing the word “repairs” shouldn’t send your body into a shockwave. If you backtrack to the root of what derailed a complicated repair issue, it can typically be summed up into those three parts: not understanding core responsibilities, being unaware of crucial resources, and ignoring the “small” stuff until it explodes in your face. 

Cultivate your community, and always remember to reach out to your condominium board for any support or advice you may need. 


Maggie Matian
Marketing Manager for CCI Grand River

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Education, Information, Awareness, Canadian Condominium Institute, Southwestern Ontario, Condo owners, Golf Tournament, conference 2022

An Introduction to Canadian Condominium Institute: Opportunities and Benefits

September 17, 2023/in Uncategorized

We kick off the first episode with Brad Wells, President of Wilson Blanchard Property Management and Vice President of CCI Grand River chapter, and Michelle Kelly, a partner at Robson Carpenter LLP, condo law expert, and currently President of CCI Grand River chapter. 

CCI Grand River is all about helping people! Listen to this episode to find out how CCI Grand River is a phenomenal resource for condo managers, directors, professionals, and owners!

Key Points:

  • Learn about Michelle’s story and how she went from not knowing anything about condos to becoming a condo expert
  • How most people come to work with condos and get “hooked”
  • The importance of networking and community between professionals and condo owners, and the go-to directory filled with condo experts
  • What CCI Grand River provides for condo managers, directors, professionals, and owners
  • Opportunities to get free legal advice
  • An update on the Condo Authority Tribunal (CAT) which has expanded its jurisdiction and will now hear nuisance, annoyance and disruption disputes (noise, odour, light, smoke, etc). 
  • Stay tuned for new updates! 

Subscribe and review this episode on your favourite podcast platform!

Connect with CCI:

  • CCI-GRC Website (info, blogs and events found here!)
  • CCI on Facebook
  • CCI on Instagram
  • CCI on LinkedIn

Resources and Information:

  • Condo Authority of Ontario website
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Education, Information, Awareness, Canadian Condominium Institute, Southwestern Ontario, Condo owners, Golf Tournament, conference 2022

SPRING FORWARD – in Your Condominium Landscaping!

September 17, 2023/in Uncategorized

It’s March! With the first real warm rays of spring about to caress our faces, our thoughts turn to the warm days of summer and once again enjoying the outdoors!

Now is the time to get things approved to ensure your condo community can benefit THIS YEAR from the investments you make! At your upcoming Board Meeting, create a plan to discuss your outdoor landscapes. What provided enjoyment over the past year(s)?  Are there any spaces that could benefit from a “refresh”? Is there a larger project, that by pre-planning now, could experience a successful start for enjoyment in 2023? Are there areas that provide safety concerns for unit owners? 

Here are some ideas to consider now in the expectancy of warmer days ahead.

Turf Enhancements. 

The best defense against weeds and unwanted pests is a healthy lawn.  While many annual landscape maintenance contracts include regular fertilizer applications, this is often where turf care stops for condo boards. Regular, proactive care relating to your turf can save thousands of dollars in the long term. Consider adding regular weed treatments, core aeration, topdressing and seeding to your regular care. Many properties have turf areas that are heavily shaded and/or where there is high foot traffic; grass just won’t grow. Consider amending these areas by replacing the compacted earth with mulch and/or stepping stones.

Mulching your Garden Beds. 

Mulching is one of the best things you can do for your gardens.  You have likely seen the positive impact that is immediately evident following an application of fresh mulch.  Not only does mulch provide a barrier for weed growth, mulch also helps your garden retain the needed moisture allowing plants and shrubs to thrive.  Mulch will help prevent rainwater from washing away your soil. Furthermore, if you use an organic mulch (shredded pine bark mulch is recommended), it will release valuable nutrients in the soil as it naturally decomposes.  

Rejuvenate Shrubs and Garden Beds. 

Over time the existing garden beds and shrubs on your property can really start to show their age. Depending on the amount of maintenance they receive in an ongoing manner throughout the year, a rejuvenation is a fantastic way to provide an immediate improvement that will be evident to all owners.  A rejuvenation involves horticultural pruning to shrubs such that new, fresh growth is encouraged.  The early days of spring are optimal to have this service provided! Not only will this provide a fresh, new look, it is also very healthy for the plant material. 

Enhance Entrance Signage. 

How is your complex distinguishable from others in the neighbourhood? Are the name and address visible?  Adding (or enhancing) your entrance sign will provide a positive focal point for visitors and potential buyers. Adding some lighting will provide for year-round interest as you enter and leave your complex. From a safety perspective, a well-placed and visible sign is a beacon in times of emergency for first responders.

Corrective Drainage Solutions.

Spring run-off and melting snow accentuates the wet, soggy areas of condo properties; we all know where the wet spots are on our properties! Given the high density of the building projects in recent years, there is less surface area for spring runoff and rain water to be absorbed into the ground. Pooling of water can also occur in areas where the ground has been saturated. A corrective measure, while not providing an impact that can be seen, will solve an annual nuisance and provide enjoyment for years to come.

Create a Place for Community. 

Do you have an area that is frequented by many of your unit owners? Is there an underutilized common area? Consider the impact that adding a community garden might have. Permanent benches added in common areas give the message “stay a while”.

The coming weeks can provide a great opportunity for planning to ensure success in the coming warm season of 2022.  We all know the intensity that spring provides: spring clean-ups, scheduled walk-arounds, etc. Moreover, your service provider’s capacities will be most stretched in the busy days of May and June. Proactive planning in March and April allows for project scheduling so your ideas can be implemented in a timeframe that works for you. There is no better way to jettison the ugly memories of grey snow piles than to anticipate the arrival of spring.

Make it an agenda item for your April board meeting!


Andrew Westrik, Sales Manager/Landscape Sales
www.wpn.ca

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Education, Information, Awareness, Canadian Condominium Institute, Southwestern Ontario, Condo owners, Golf Tournament, conference 2022

5 Tips to Keep Your Virtual Meetings Productive

September 17, 2023/in Uncategorized

Whether it be a virtual meeting, conference, or webinar, either can be tough to get through while keeping them productive. Being behind a screen for the last couple years has taken away any excitement that was left behind the simplicity of virtual meetings.

Floods of “can you hear me’s”, paired with an ominous blank screen staring right back at you. It can be exhausting to lead any type of proactive discussion. Can they hear you? Is your screen frozen? Have they muted you while they go about their other tasks?

You can’t control everything that happens on the other side of the screen, but you can be proactive to ensure that you set yourself up to lead your next virtual meeting with ease.

  1. Make sure they know who will be leading the meeting.

Meeting, conference, or webinar: your audience and team will want to know who will be the main speakers of the event. This should be detailed in all communication, from the first event invite, to all social posts and any update after. By giving your meeting a “face”, you humanize the digital element of the virtual meeting.

2. Greet every guest as they come in.

Certainly, you make sure to greet guests as they come in, but how many could you confidently say are given a personal greeting? If you find yourself in the middle of a conversation with one guest, and another guest has entered, try to find a way to work them into the conversation. Invite them to participate, or politely interject that you acknowledge their presence. By doing this, not only do you elicit a guest to use their “off-mic” option, but you may even see a camera or two turn on.

How you start your meeting will determine the mood throughout the lecture. Making and maintaining a connection with your guests is imperative to virtual meeting success

3. Let guests know when they can ask questions.

What may seem obvious to you, may not to another guest. Before you formally start, take a moment to relay how you will be presenting your material, and when you have planned for questions. Be clear if you’d prefer they keep their questions until certain parts of the presentation, or if you can take questions while presenting.

Additionally, remind your guests of the use of the “hand up” tool on most virtual conference apps. Not only does this feature give a polite nudge to the speaker that someone would like to speak, it also puts them in order. As long as you are taking questions from left to right, then you are going by the order in which the hands were raised.

If you have set time aside at the end for a Q&A, make sure your audience knows this prior to starting the lecture. You may have some guests who will stress about not having enough time for you to answer their questions if you don’t answer them in the middle of your presentation. By letting them know that you have set time aside, you are alleviating any unnecessary stress that anyone in your audience may be feeling.

4. Make time for breaks.

This isn’t as crucial if your meeting is under an hour.

However, once you start ranging on the 1.5-2 hour mark, you should be planning for a quick break.

The unofficial rule for breaks is 5-minutes for every hour. So, for 1.5-hours, that’s approximately 7-minutes. No matter the content, staring at a screen for long periods of time is draining. Breaks are necessary for ensuring your guests have the capacity to take in new information and have the energy to continue to participate in the meeting.

For example, if you are hosting a 3-hour meeting: plan for a 15-minute break at the 1.5-hour mark. Ask your guests to return within 10-minutes, and then not only do you have a 5-minute buffer for any straggler, those final few minutes before you pull the focus back on you, but your audience is also free to engage together across the screens

5. Give everyone an opportunity to speak at the end of the meeting.

After your Q&A (if you have planned for one), take a moment to give your guests the floor to speak on any final thoughts they may have.

This is also where you want to include and/or summarize the next steps, not only for yourself but for any attendee you’ve allocated any kind of responsibility to.

For example –

Mary will have the report by next Friday.

Jerry will touch base with Mike by end of the day.

The speaker will send out meeting notes by tomorrow morning.

You’ll want to aim to end your meeting with the same energy as you’ve started. No one should be leaving your meeting feeling drained, and uninspired to carry out their task. Luckily for you, you’ve followed our 5 tips to ensure your meeting was successfully executed!



Maggie Matian
Marketing Manager for CCI Grand River

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Conference Sponsorship, annual conference, annual golf tournament, Grand River Chapter, Canadian Condominium Institute, Become a Member

Going Electric: Electric Vehicles in Condominiums

September 17, 2023/in Uncategorized

Do you have an electric vehicle, or would you like to get an electric vehicle, and are wondering how to charge that electric vehicle at your condominium? Electric vehicles are becoming more and more common, and that is fantastic news for the environment. But is your condominium equipped to deal with this change?

If you are unsure about your condominium’s rules and infrastructure regarding electric vehicle charging systems (“EV charging systems”), start by checking the following resources: 

Read your condominium’s declaration and rules. 

If you do not have copies of the declaration and rules already, ask your property manager and/or board of directors. Does the declaration and/or rules discuss electric vehicles and EV charging systems? If you live in a newer condominium, the documents might. If you’re in an older condominium, the documents likely do not.

When reviewing the electric vehicle provisions in your condominium documents, consider whether they answer the following questions: who pays for the installation of the EV charging system? Who pays the ongoing costs, including monthly hydro bills, maintenance and repair, and insurance? Hint: it’s probably you. 

Review your rights under the Condominium Act, 1998 (the “Act”). 

Under the Act, an owner can apply to the corporation for an installation of an EV charging system. That means you can ask the board if you can install an EV charging system, and if your application complies with the Act, the board has only a limited list of reasons why they could reject your application. Reasons for rejection include, but are not limited to, if the installation will pose a serious risk: (1) to the health and safety of an individual, or (2) of damage to the property or assets of the condominium. 

If your application is approved, you must enter a written agreement with the corporation regarding the installation which will be registered on title to your unit. Again, the requirements for the agreement are set out in the Act. The agreement will discuss, among other things: 

  1. the manner of installation and cost-allocation for installation of the EV charging system;
  2. duties and responsibilities of both the corporation and the owner, including costs of use, operation, repair after damage, maintenance, and insurance of the EV charging system; and
  3. ownership of the EV charging system.

The corporation can also propose an EV charging system installation to the owners, and if approved by the owners in compliance with the Act, the EV charging system can be installed by the corporation with the costs of the system installation being common expenses of the condominium. 

Speak with your property manager and/or board of directors. 

You might not be the first owner to approach your property manager or board with this question, and they may already be considering EV charging system options that could benefit you and other owners. 

Electric vehicles are becoming increasingly common, and it’s time for condominiums to get on board!



Annie Bailey, Associate Lawyer
www.rcllp.ca

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Where Does Social Media Take Your Condominium?

September 17, 2023/in Uncategorized

Social media is an ever-evolving beast. Once you get comfortable with one algorithm, there have since been five updates, and a new sub-app that everyone is telling you to use. It’s understandable that most find themselves wanting to pull their hair out once tasked with social media managing. This can be especially frustrating if you are already overwhelmed should anyone utter “social media” around you. 

Where do you start? How do you map out your KPIs? What’s keeping all this from becoming too overwhelming and getting away from you?

It’s clear that social media is key to your continued success, and understanding how to utilize this tool will make marketing much less intimidating.

  Understanding the Importance of Marketing Your Condominium or Company

At its core, marketing your condominium, your management company, or your business can be simplified to one word: connection. 

Engaging with your audience, whether occupant, potential buyer, or industry network, is crucial to building a strong, positive reputation. People are in constant search of connection, and if you can strategize a way to appeal to your masses in a way that is more personable rather than robotic, you are on the right track.

Given how we are as a society, it’s important to understand one key thing: anyone who has never heard of you will look up your social media.

Anyone. Everyone. Staying relevant, consistent, and approachable online will help when it comes to first and lasting impressions.

The first thing you need to do is choose your preferred social media platform. You do not need to be on every single main platform, but you should be utilizing at least two. Take the time to get to know the platforms, and ensure that those platforms are where your audiences will likely spend their time.

Once you narrow down which social media apps your audience uses, and which ones you feel confident using, the rest will fall into place.

  Measuring Your Social Media Success

It’s not always about the number of likes a post gets. Though we all like to see that count rise, and get a little giddy when we see higher double and triple digits, there is more to measuring than meets the eye. 

Reach. Engagement. Total follows. Those are three areas where you always want to see in the green. Making sure your content goes out at the right time, on the right day, will ensure you hit those first two targets. The followers, will follow. 

Monitoring Your Social Media 

Social media is both simple and complicated. It can get away from you easily, and pile up under a mountain of updates and missed insights. 

If we circle back to your online reputation, there is one area of social media that you absolutely do not want to ignore. 

Reviews. 

By a show of hands, how many of us can say we monitor our online reviews, regularly? How many of us can say we know how to handle negative reviews or online disputes? 

Monitoring your tone online is a difficult task, and is especially difficult when you’re handling uncomfortable situations. And even more so, if the person handling the situation is already frustrated. 

The key to handling negative reviews is to deal with them ASAP. Since we’re now in the habit of checking our reviews regularly, it’ll become much easier to regulate your online presence. 

If you come across a negative note or comment, here are some quick steps to handling it: 

  • Read the comment carefully. 
    • Ensure you understand exactly what the commenter is talking about, and if not, reach out to your team to see if anyone was involved with the interaction. 
  • Respond to them promptly. 
    • Take the time to give them a thoughtful response. Acknowledge their experience, apologize for the circumstances, and invite them to discuss the matter privately whether through direct message or phone call. 
  • Once resolved, ensure you update the review/comment. You can encourage the original poster to do so, but there is no harm with replying to the public comment with an update (i.e., we have touched base with Ms. Doe about X issue and are happy to announce that we have found a resolution. We thank everyone who has taken the time to share their feedback.). 
  • There is no harm in asking for support from your condo board or marketing team. Reach out if you feel unsure of how to handle any social media-related situation. 

Social media is a great tool. Being able to connect with your audiences regularly will allow you to stay at the top of their list.

Using your platforms wisely, understanding your KPIs, and managing public reviews will have you running like a well-oiled machine. 

This is no easy feat. Working with a social media professional, or an online marketing professional can take some of the digital weight off your shoulders. 

Luckily, there is a plethora of information and resources out there in regards to social media and your digital presence. Stay tuned for our upcoming pieces as we discuss monitoring Facebook Groups, and understanding how “brand” affects you. 


Maggie Matian, Theresa Place Media
www.theresaplace.ca

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Budgeting: Should Last Year’s Surplus Be Used to Fund a Pet Sanctuary?

September 17, 2023/in Uncategorized

It’s that time of year again for the Annual General Meeting and the process of forming next year’s budget. The auditor happily noted that the condominium had a growing surplus in both accounts. A golden retriever with a goofy grin ran onto the stage. His owner read a flyer that showed the benefits of having a pet sanctuary.

Budgeting: Should last year’s surplus be used to fund a pet sanctuary? 

It’s that time of year again for the Annual General Meeting (AGM) and then comes the process of forming next year’s budget. 

AGM Meeting

The AGM began with the auditor taking the stage to present the audited statements. The auditor happily noted that the condominium had a growing surplus in both the general account and the reserve account. After the auditor had left the meeting, the president of the board opened the floor and asked the unit owners what they would like to do with the surplus funds. 

Unit Owner Discussion 

The serious accountant, fiddling with her laptop, informed the other unit owners that they could put the surplus into a GIC, but the interest rates had fallen since the pandemic started in 2020, so the benefit was minimal. She then suggested that they could decrease their monthly common element assessment fees for the next fiscal year or keep their fees locked at the same rate for the next few years.

The active triathlete piped up, suggesting that the condominium should install an Olympic-sized pool and gym with stationary bikes for spin classes. He went on and on about the health benefits of exercise until a golden retriever with a goofy grin ran into the room and escorted him back to his seat by tugging on his pant legs. 

The owner of the dog, a unit owner and humanitarian, took the stage. He read a flyer that showed the health benefits of having a pet sanctuary.

Pet Sanctuary

The room was abuzz with excitement, as many unit owners in that community loved pets. The board took this to a vote, knowing that they would need 66.67% of the owners to approve any change to the common elements. The vote was unanimous in favour of purchasing the pet sanctuary. 

Budgeting with a Surplus Balance 

At the next board meeting, the directors discussed how to form next year’s budget to plan for the coming year, as a budget is required by the Condominium Act to be included in the audited financial statements. The board followed these steps:​

  1. They looked at the auditor’s financial statements. The auditor had let the board know that the corporation had one year’s worth of expenses as a surplus in the general fund. (Typically, accountants like to see ½ month to 3 months’ worth of spending as a surplus in the general fund). 

  2. When forming the budget, they were told to work backwards. 

  3. What were the known expenses? The landscaping contract was $35,520. Property management fees were $25,100. Insurance premiums were quoted at $9,000. 

  4. What were the trends of increasing/decreasing expenses over the last five years? They saw a trend of water expenses increasing by $1,000 every year. Waste removal was also increasing by $2,000 each year.

  5. The treasurer of the board added up the total expenses they were anticipating for the next fiscal year. 

  6. The board member in charge of the pet sanctuary project had researched the costs of constructing the pet sanctuary and added the project, as a one-time expense line item to the budget. The board member had also researched the costs of maintaining the pet sanctuary and added another $1,000 to their budgeted utility expenses. The board debated decreasing security costs due to the additional security the pets provided. They decided to wait another year to get a more accurate measure of how the sanctuary impacted security costs. 

  7. The treasurer observed the reserve fund study to see if there were any upcoming major repairs that they needed to consider. The corporation had been transferring the required amount to the reserve fund. There was appropriate funding for their reserve expenses and the treasurer saw no additional transfers required in the reserve fund study within the next three years. 

After doing this exercise to figure out their total expenses, the treasurer noticed that their budgeted expenses were higher than the total amount of fees that they collected in the prior year by $20,000. As a group they decided that they were comfortable keeping their monthly fees consistent with the prior year, resulting in a planned shortfall of $20,000 for the current year. After the initial construction of the pet sanctuary, they would have fewer costs in the subsequent fiscal year. Their plan allowed them to continue with a surplus of $80,000, which gave them enough cash flow to cover the costs of the year, paying all of their vendors on time.

Now that the board had the financial plan for the year, the pet sanctuary committee could start selecting which pets they would like to save. 

… If I was on the committee, I would definitely have chosen the monkeys first!

 

 

 

Jennie Buerkle CPA, CGA

Senior Accountant at RLB LLP

https://www.rlb.ca/

 

 

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