Our Co-op Services

  • Financial Operations
  • Meetings & Minutes
  • Tasks & Trades
  • Communications
  • Emergency Response

Financial Operations

  • All financial operations are conducted in accordance with the Real Estate Services Act and Operating Agreements.
  • Open and maintain all necessary trust bank accounts. Each co-op has independent bank accounts.
  • Negotiate discounts and favourable rates to optimize interest with financial institutions including term deposits and operating accounts.
  • Bill, collect and deposit co-op income; including monthly housing charges, assessments, fines and miscellaneous charges.
  • Provide preauthorization payment option to co-op members.
  • Provide special accounts receivable collections; such as arrears, billings, termination, eviction administration and initiate legal action, as required.
  • Receive, code, approve and pay expenses as authorized.
  • Prepare and provide financial statements in a timely manner. Full statements include detailed general ledger, aged accounts receivable, bank reconciliation including bank statements.
  • Provide copies of paid invoices as requested.
  • Assist co-op boards with annual budgeting, long term planning and replacement reserve fund requirements.
  • Arrange audits.
  • Provide payroll as required.
  • Reconcile share refunds as required.

Meetings and Minutes

  • Prepare agendas, statements, documents, and reports as necessary and distribute them in advance.
  • Organize and attend board and general meetings in accordance with service agreement.
  • Facilitate board and general meetings as required.
  • Provide knowledge and experience to board members
  • Provide minute drafts to boards within 48 hours as required
  • Provide minutes for distribution within one week.
  • Prepare and distribute general meeting documents in accordance with the Cooperative Association Act.
  • Prepare general meeting registration documents, including registration list and ballots.

Tasks and Trades

  • Complete tasks and directives in a timely manner.
  • Arrange competitive property maintenance, repairs and contracts as authorized.
  • Provide available bulk purchasing discounts and services.
    Insurance: Ascent Real Estate Management Corporation has a unique Master Insurance Program. Economies of scale provide a significant premium discount while providing an excellent independently drafted coverage specification.
  • Pay trades in a timely manner.

Communications

  • Respond to phone, fax, email and correspondence in a timely manner; normally same day or within 24 hours.
  • Provide advice to directors at meetings, as required; such as industry operational, administrative accepted practices and regulations.
  • Provide documents and records.
  • Communicate and correspond with client employees and trades.
  • Receive and acknowledge correspondence.
  • Place correspondence on meeting agenda.
  • Provide rule violation correspondence and follow up.

Emergency Response

  • Provide a 24 hour emergency answering/responding service.
  • We record and act on various types of emergencies that may be unique to each co-op.
  • Emergency responses are reported to and followed up by the Co-Op Manager.



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