What is a Reserve Fund Study?

 

A reserve fund study is an inventory of existing common area components (i.e. the roof, sidewalks, and boiler) and is a 25 year projection of the timing and costs to replace these components. This fund is a mandatory item for all Condominiums and is regulated by the Alberta Condominium Act. For more information about the ACT, please go here, or to download the ACT click here

SIMCO Management will suggest a third party consultant who specializes in completing Reserve Fund studies. They will work with you to find the best plan that supports your long term components while controling costs and future increases to condo fees.

 

Mon 7 15

Insurance

Simco Management can assist your Board in obtaining Public Liability, Board of Directors Insurance, Fidelity bonds as well as Accident insurance and other products. The materials below provide information on some insurance concepts.

Should you need more information on obtaining insurance for your condominium complex, please contact our office and ask for your Property Manager.

 

Property Management is the operation of condominium residential/ commercial and residential real estate.

Duties of property management range from responding to and addressing maintenance issues, resident concerns and record keeping.

There are many facets to SIMCO Management, including managing “trust” accounts and the finances of multi-family properties and responding to after- hour emergencies.

SIMCO Management takes a personal approach when managing Condominium Corporations, Home Owners Associations and rental properties. This allows home owners to feel comfortable when in the hands of SIMCO Management as our staff is dedicated, energetic and dynamic. The strength of our company not only lies in our extensive property management background, but also in our clear recognition of the necessity for the Management Company to work in harmony with the Board of Directors and Owners.

 

SIMCO Management is a Calgary based Property Management Company specializing in Condominium management, but also includes the managing of Homeowner Associations, Commercial Condominiums and Rental Properties.

Simco Management provides a full range of services including:

  • Prepare an annual budget for board approval
  • Collect monthly Contribution Fees from Owners for deposit in separate “trust” accounts.
  • Maintain accounting records and provide monthly financial reports to the Board.
  • Attend Board Meetings and Annual Meetings
  • Review insurance requirements with the Board
  • Handle complaints and secure compliance by owners, tenants and guests with all rules and regulations as established by the Bylaws of the Condominium Corporation or HOA under Board direction
  • Respond to after-hours emergency calls

Site Maintenance Services

  • Consult with Board to determine standards of housekeeping required in common areas
  • Suggest qualified Reserve Fund Consultants for long range plans for repairs and/or replacement of the common elements of the property.
  • On behalf of the Corporation/HOA, secure bids, contracts and propose third party consultants when required.
  • Periodic inspection of common areas

To learn more about our Management services or for a quotation please fill out our online request form.

Wed 26 15

Accounting

The heart and soul of SIMCO Management is our dedicated qualified Accounting Department. Our accounting methodologies alone set us apart from other property management companies as SIMCO Management utilizes the latest in property management technology. We use software dedicated to property management.  Our accounting department has in total over 79 years in experience combined with our dedicated accounting software which enables SIMCO Management to set the standard in accounting practices in the industry.

SIMCO Management provides exhaustive financial reports to our Boards on a monthly basis. This allows our Boards/owners to feel at ease.

Wed 26 15

Reserve Fund

What is a Reserve Fund Study?

A reserve fund study is an inventory of existing common area components (i.e. the roof, sidewalks, and boiler) and is a 25 year projection of the timing and costs to replace these components.

SIMCO Management will suggest a third party consultant who specializes in completing Reserve Fund studies.

Simco Management provides the right framework for homeowners associations to determine how they can meet their needs through our personal service, attention to detail, and a commitment to their community.

We believe that satisfied homeowners are more cooperative and involved with their community, and to achieve this satisfaction, our company believes customer service is as important as property maintenance and accounting.

Some of the services include the following to encourage your association to function most effectively:

  • Comprehensive, accurate financial reports
  • Assistance with delinquency issues
  • Professional and timely maintenance
  • Preparation of monthly financial statements that are distributed to the Board of Directors in a timely manner.
  • Open and Maintain bank accounts as directed by the Board of Directors. Each Association’s funds are deposited into an account for their specific property. Funds are not co-mingled.
  • Maintain account ledgers and history for each homeowner.
  • Assist the treasurer in preparing and submitting a proposed annual budget to the Board.
  • Review billing for accuracy in cost and goods and prepare checks for approved invoices.
  • Generate and mail out correspondence necessary to bring delinquent accounts up to date and if unsuccessful in collecting, work with the Association’s attorney for appropriate legal action.
  • Assist and cooperate with any outside auditing firm that may be retained by the Association.

Simco strives to tailor our management services to fit the needs of each association working closely with board members to develop policies consistent with the association’s goals, assessment collections, covenant enforcement and supervision of vendors. Contact us today to receive a quote for your property.

 

Request a Proposal

 

 

Property management company

A Calgary Rental Management Company With You In Mind

What should you look for when selecting a rental management company? Start by looking for a managerial team that consists of well-seasoned professionals who are licensed with the Real Estate Industry of Alberta. Make sure that those experts are members of the Calgary Residential Rental Association, and then ask about their experience handling rental properties similar to your own. When you follow those steps, we're confident that you'll find exactly what you need with Simco.

We have years of experience offering rental management in Calgary, and we always keep your needs in mind. From customizing services to accommodate your property and your personal desires to keeping you up to date on developments with your rental property, our professionals remain focused on maintaining your property for maximum profitability.

 

Calgary Rental Management Company

See Why Simco Is Calgary's Best Choice For Rental Management Services

Simco stands out as one of the best options for property management in Calgary because we understand what it takes to protect your most cherished investments. Perhaps you're an investor and you don't have the skill or desire to maintain your properties alone. Maybe you're an owner trying to maximize profit from a property that you no longer use personally. Either way, you can count on our experienced professionals to fill in where needed or to take complete control.

Our professionals are fluent with the Residential Tenancies Act, so we do more than make sure that rent payments are collected and maintenance duties are performed in a timely and affordable fashion. We also protect your investment from costly legal encounters and issues with code enforcement officials. If you're not confident in your ability to manage your property alone, rest assured that you're in good hands when you select Simco for rental management in Calgary.

 

Simco Management (CALGARY) Inc. has a high standard for our buildings and liaises between our tenants and landlords to ensure each party’s needs are met. Simco Management Rental professionals are licensed with the Real Estate Industry of Alberta and are members of the highly regarded Calgary Residential Rental Association. Simco Rental Managers utilize legislations set forth in the Residential Tenancies Act and apply this knowledge to the day to day operations in management of your property.

The Property Management services provided by Simco Management (CALGARY) Inc. can be customized to suit a variety of different needs for today’s property owner or Real Estate investor-owner. Our management professionals can oversee all aspects of managing your property, from:

  • Advertising your home’s unique aspects, to
  • Simplifying the tenant selection for you, to
  • Monthly collection of rents, thru to
  • Regular care and maintenance of your property.


Comprehensive Leasing & Management Package:

This package offers a complete lineup of services that ensure your property is managed to your specifications starting with:

  • Providing rental market evaluations
  • Advertising and promotion of your property
  • Showing your property to prospective tenants
  • Complete the rental application with the prospective tenant
  • Complete tenant screening selection including but not limited to:
    • Credit checks
    • Employment references
    • Previous landlord and residency references
  • Sign Lease Agreement and Addendums with tenant
  • Collection of Security Deposit
  • Property Inspection/Condition Agreements (Move-in inspection/Move–out inspections)
  • Lease Renewal negotiations with existing tenants
  • Monthly rent collection
  • Income and expense accounting
  • Monthly financial statements and reports
  • Security Deposit administration of refunds to past tenants
  • Eviction procedures and representation at Residential Tenancies Dispute Resolution Services if required
  • Periodic property inspections (scheduled and vacancy)
  • Co-ordination of landscaping and snow removal services as required
  • Forwarding of bad debt to collections agency
  • Provision of NR-4 form for tax returns
  • Recruitment and supervision of all on-site staff
  • This more comprehensive service package will appeal to those owners that do not wish to handle the day-to-day operations of their property or live outside of the city or country.

 

Rental Property Management Includes:

  • Rental Apartment Buildings
  • Rental Pools
  • Townhomes
  • Duplexes
  • Individual Condominium Units
  • Single-family Homes

 

Repairs & Maintenance Services

  • 24-hour emergency assistance for all residents
  • Annual scheduled maintenance of mechanical, smoke detectors, and inventory of mechanical and major appliances
  • Ensure maintenance items are dealt with in a timely manner
  • Maintenance Department available for the co-ordination of full property renovations, flooring, painting, kitchen/bathroom cabinets, modernization of fixtures
  • Maintenance Department available for the co-ordination of minor repairs at competitive industry rates

 

To learn more about our Management services or for a quotation please fill out our online request form.

 

 

Invoices by Mail

26-08-2015

Contractors can now submit invoices by email. Please contact your Simco Property Manager for details on how invoices can be sent to us.

Read More

Cash Payments

26-08-2015

Please note that currently our office does not process cash payments. Payments at our office may be made by cheque. Should you have questions please contact your Property Manager through...

Read More

About Simco

First incorporated in 1982, Simco Management has become a success story. We now manage over 140 Condo/HOA complex’s taking advantage of our Professional Property Management Services in Calgary and area, our vision has stayed the same - Understanding the Value of your investment through Dedicated service and processual.

Latest News

Invoices by Mail

26-08-2015

Contractors can now submit invoices by email. Please contact your Simco Property Manager for details...

Cash Payments

26-08-2015

Please note that currently our office does not process cash payments. Payments at our office...

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