Property Management

Residential Property Management

When it comes to residential property management in Montreal, NGI understands what it takes to control costs and enhance revenue. With over a decade of experience, we can help ease the stress of being a member of a co-ownership syndicate while ensuring your needs are addressed in a friendly and professional manner. Our years of experience in this field mean we have the ability to handle any management situation that may arise.

NGI has one of the most competitive price lists in the business for suite turnovers. Whether this is your first income property or you have multiple condo units, our team can help you bring efficiency to your operation while guaranteeing compliance with all Federal and Provincial laws. Our services cover every aspect of property management including: Financial Management, Administrative and Secretarial Services, Management of Meetings and General Assemblies, Upkeep Management, Management of Co-Ownership Declarations, Co-Ownership Syndicate Assistance, Insurance, Monitoring Services, Consulting Services, and 24/7 Emergency Services.

The benefits of partnering with NGI Asset Management include:

  • Reducing workload of your administrators;
  • Effective management of the condominium’s material and financial resources;
  • Continuity in condominium management;
  • Access to numerous resources;
  • A standardized system managing all documents, records, files, contracts and financial statements of the condominium;
  • A 24/7 emergency service;

Read more to learn about the specific services NGI Construction offers.

Financial Management

  • Oversee collection and deposits of condo fees in the co-ownership accounts according to the distribution terms mandated by your declaration of co-ownership (assessed values of condominium units / distributive shares);
  • Pay bills via check;
  • Prepare bank reconciliations;
  • Follow your declaration of co-ownership to manage all funds;
  • Compile, update, and release a monthly, quarterly or annual balance sheet, emphasizing the account balance, accounts receivable and accounts payable;
  • Produce a monthly, quarterly or annual financial report for your board of directors;
  • Consulting services for board of directors or administrators with the aim of maximizing the return of the amount invested from the contingency funds;
  • Prepare estimates for a budget;
  • Have the condominium’s annual tax return prepared, as stipulated by the law;
  • Fill out the required annual declaration with the enterprise registrar of Quebec;

Administrative and Secretarial Services

  • Manage correspondence via word processing services;
  • Oversee syndicate records as well as co-owner information and files; ensuring files are always up to date
  • Prepare any document required by the board of directors;
  • We offer 24 hour, 7 days a week phone support;
  • File and store any documents related to the condominium;
  • Store architectural blueprints, quotes and specifications of the building;
  • Prepare any paperwork required by the notary in drawing up formal documents at the time of sale of a condominium unit;

Management of Meetings and General Assemblies

  • Manage the organization of meetings and general assemblies;
  • Prepare the agenda for the board of directors meetings or the co-owners general meetings and send them to the syndicate within the given deadline;
  • Prepare meeting notices, proxy forms, ballot slips and attendance sheets; ;
  • Act as facilitator during co-owner meetings;
  • Keep minutes of the board of directors meetings;
  • Keep a record of the minutes of the meetings and the regulations adopted;
  • Send any modifications to the building regulations to the co-owners;
  • Consult administrators about condominium management;
  • Carry out and follow the decisions of the syndicate;

Upkeep Management

  • Guarantee that a suitable concierge service is in place at all times, if necessary;
  • Manage and grant concierge service contracts and/or supervise the personnel, as the individual case dictates;
  • Ensure cleanliness of the premises, both inside and out, at all times;
  • Obtain bids and quotes for service contracts;
  • Ensure that service contracts are honored; including initial preparation and negotiation;
  • Oversee repair work done while honoring the delegation of power specified by the board of directors in the contract;
  • Set up a building maintenance plan taking into account a reasonable structural reserve;
  • Monitor with a preventative maintenance system;

Management of the Declaration of Co-Ownership

  • Mediate any problem or litigation between co-owners; ensuring quick resolution;
  • Assist the syndicate of co-owners in determining respective responsibilities of both the syndicate and the co-owners as mandated by the declaration of co-ownership;
  • Propose regulations to the board of directors that are useful to the condominium and have them adopted;
  • Manage any necessary follow-up should delinquent co-owners fail to submit fees;
  • Generally ensure that the terms of the declaration of co-ownership are being honored by the co-owners;

Starting Up a Syndicate of Co-Ownership

Establishing a syndicate of co-ownership is critical to the process of organizing owners and managing condominiums. It is important to take this initial phase seriously as the consequences of a poorly-considered co-ownership syndicate include the loss of your legally guaranteed rights and the guarantee plan for new residential buildings (APCHQ, ACQ, Master Builders, etc.). NGI Asset Management has the knowledge and experience required to ensure that each step in this process is managed professionally and with full attention to detail.

Insurance

  • Update appraisal reports for insurance purposes;
  • Submit the compensation requests for the common areas to the insurance company in case of a claim;
  • Follow the claims files and allocations which involve the beneficiaries;
  • Draw up an administrative report within the monthly, quarterly or annual report, if necessary;

Monitoring Services

  • Guarantee the declaration of co-ownership is being honored and monitored in the case of legal proceedings, if necessary;
  • Keep the syndicate’s insurance policy up-to-date;
  • Make sure that service contracts granted by administrators are being honored;
  • Prepare and oversee a condominium maintenance program according to the agreed schedule;
  • Inspect the premises on a regular basis and make appropriate recommendations;
  • Ensure that parking regulations are followed;

Consulting Services

Our wealth of knowledge in the area of property management is highly beneficial to both syndicates and a board of directors. Our consulting services allow you to efficiently manage your costs while improving the day-to-day experience of residents.

Emergency Services 24/7

Emergencies don’t keep a regular schedule, which is why our support team is available to you 24/7. Call during open office hours or at any time via our emergency phone service. Our knowledgeable team will assess the situation at hand and dispatch a contractor to carry out the required work.