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Industry Leadership

Core Services

Over the course of 40 years, and building upon our experience as we grew from one corporation on Toronto’s waterfront to over 350 condominium communities today, Crossbridge has developed a comprehensive set of services, cost saving measures, products and policies for all Crossbridge managed properties. This section sets out those management services that form the core of our responsibilities as your management company. Our Service Excellence Program defines the deliverables that you will receive from us. The management of a condominium corporation can be divided into 3 essential categories – financial management, operations (day to day management of your property) and administration.

Many of the deliverables, like standard contracts and specifications, volume purchasing, meeting checklists and the countless manuals in our e-library, demonstrate the added benefits that you can expect from Crossbridge. See the Crossbridge Advantage section for details on the commitment and results only Crossbridge can offer.

Financial
Boards of directors expect accurate and timely financial statements, detailed and responsible operating budgets and well-funded reserves. In short, they want healthy finances and no surprises.
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Although we cannot make decisions on budgets, reserve funding or the timing of major repairs and replacements, we will provide you with the best financial information and experience-based advice in the industry so that you can make the most informed decisions with confidence.

Monthly Financial Reporting

Crossbridge delivers the following by the 11th working day of each month:

  • a monthly financial statement on an accrued basis;
  • a list of aged accounts payable;
  • a list of accounts receivable;
  • a schedule of investments;
  • a schedule of accrued liabilities;
  • a copy of all bank statements;
  • a bank reconciliation;
  • a variance report explaining significant budget variances; and,
  • a reserve fund statement of expenditures.

Budgeting Operations

Crossbridge prepares a 'draft' Operating Budget, using our detailed template, during the 10th month of the fiscal year that includes:

  • a projection of revenues and expenses to year end using the 9 month results;
  • a variance analysis of projected expenses to budget;
  • a proposed budget for each expense for the following year;
  • detailed notes on each expense; and,
  • a draft covering letter to the unit owners addressing the budget and any fee increases.

Reserve Fund Study Reviews

Under the Condominium Act, management companies like Crossbridge cannot prepare Reserve Fund Studies, but Crossbridge will:

  • work with your Reserve Fund Planner to provide resources, information and support in the preparation of the Reserve Fund Study; and,
  • review the corporation's Reserve Fund Study, provide comments on it and submit a detailed Budget of Reserve Expenses for the following year.

Proper Financial Management

Crossbridge provides a number of other bookkeeping, accounting and financial management services including:

  • paying all invoices within 30 days of receipt;
  • paying any late penalties on hydro, gas, water and WSIB invoices that are solely signed by Crossbridge signing authorities;
  • collecting maintenance fees and guaranteeing losses;
  • preparing all working papers for auditors;
  • providing Boards with our standard common charge collection policy;
  • providing procedures and systems for internal controls;
  • assisting the Corporation by opening an Investment Account with an external Brokerage Firm of their choice and ensuring that a proper Investment Plan is prepared;
  • making recommendations on investment purchases as per the Condominium Act;
  • providing Boards with our developed investment policy;
  • setting up a pre-authorized payment plan for common charges at rates below typical bank rates; and,
  • providing and procuring appropriate insurance coverage and appraisals.

Payroll/Benefit Administration For Building Employees

Crossbridge provides a wide variety of services for employees who work in your building that include:

  • a Group Benefits Program with flexibility to the Corporation in terms of sharing premiums (50% - 50%/100% Corporation paid/no benefits)*;
  • an optional RSP Program;
  • a standard performance review program;
  • site specific job descriptions for each employee;
  • Corporate support and advice on Payroll and Human Resource issues;
  • internal controls on hours/timesheets/payroll/government remittances;
  • separate payroll registers for each corporation;
  • a volume discount program on payroll services through Ceridian;
  • complete personnel record keeping;
  • recruitment, training and supervision of employees and recommendations on pay rates for all building employees; and,
  • our expertise in negotiating collective agreements with unions.

* Unionized sites are governed by the collective agreement.

 

Operational
Contract tendering, administration and supervision are major responsibilities and concerns for boards. Are proper tendering procedures in place? Are you comparing "apples to apples"?
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Does the contract provide maximum protection for the condominium? Are the bidders qualified and will they do an exceptional job?

At Crossbridge, we have developed a number of products and processes to ensure that you get the right answers to these questions. These include:

Standard Generic Specifications

Crossbridge has developed generic specifications for some 60 different services that may be required by your condominium. Copies are available for property managers at Head Office or through our e-Library. All site specific changes made to the generic specifications are approved by the President and COO. Specialty projects and/or projects of large magnitude are handled through third party engineers, architects or interior designers.

Standard Contracts

Crossbridge has standard contracts for all services described above. Our suppliers must use our contracts. This means every contract has been reviewed and approved by senior management and has been designed to protect the condominium.

A Proper Tendering Process

Crossbridge tenders all contracts on behalf of the corporation in excess of the spending limit specified in the management contract or at a specified dollar limit as requested by the board. A presentation of the quotations received is made with a spreadsheet and a standard bid analysis form. The presentation also incorporates a recommendation to the board. We only use a pool of qualified suppliers after we carefully review past work performance and coverage for WSIB and other insurance.

Administration

Crossbridge supervises all trades and suppliers. The property managers track contract lists and expiration dates. Crossbridge will monitor and oversee all projects, including those involving third parties and general contractors.

Purchasing

Crossbridge has developed a standard Purchase Order form template that is used for every purchase. This provides control on spending and accuracy when preparing accruals for monthly financial statements.

Getting Cost Effective Service

Crossbridge is dedicated to the development of products and services to manage its buildings at the lowest possible cost. These efficiencies provide a significant benefit to the board of directors. We are committed to using our economies of scale and our clout for the benefit of our clients. Volume discount programs such as lighting, elevator service, HVAC service as well as the direct purchase of natural gas are measures that accomplish these objectives.

Property Inspections

Monthly inspections are conducted and filed in the management office (copies are also sent to the regional manager at head office). The regional manager performs spot checks and walk-throughs when on-site.

Programs & Manuals

Crossbridge has established various day to day programs and operational manuals. Some of these include:

  • An Annual Planning Guide;
  • A Disaster Management Plan;
  • WHIMS Training & Compliance;
  • Training & Education for Building Employees;
  • Spring & Winterization Programs;
  • Fire Safety Plans;
  • 24 hour Personal Emergency Services;
  • implementation of Government Regulations as they Apply to the Property; and,
  • Security Standing Orders.

 

Administrative
Proper record keeping, filing and easy access to the history of events is essential to the proper administration and management of any condominium corporation.
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No board wants to be embarrassed or incur additional expenses because records are not readily available for inspection by owners, no paper trail is available in wrongful dismissal cases, contract documents and specifications are not available, rules not properly enforced or status certificates are improperly completed.

Crossbridge provides a complete program for the proper administration of a condominium that includes:

Record Keeping

We maintain all corporate records including the register of owners, mortgagees and tenants, the Minute Book, banking documents, drawings, building specifications, maintenance manuals, contracts, suite files, financial records and all other records defined by Section 55 of the Act in accordance with a standard filing system in each office and a board approved record retention policy. All records are your records and you will never have any problems gaining access to them.

Rules And Rules Enforcement

Our standard step by step procedure focuses on obtaining voluntary compliance from rule offenders and preserves all the necessary documentation in the event of mediation, arbitration or legal proceedings. We may not be fully trained mediators, but a good manager with a sincere desire to settle issues can resolve disputes between neighbours, boards and other parties. Our library includes a Manual of Rules established by all of our condominiums that acts as a valuable resource for any condominium redesigning its rules.

Monthly Reporting

A written monthly report highlights the status of all outstanding issues from previous meetings, items requiring board approval, correspondence, a complete financial report, a building inspection, future plans and closed items. We prepare your board agendas, notices to directors of all meetings and we arrange for minute taking.

Meetings

Our checklist provides the plan for a well organized Annual or Special General Meeting and Crossbridge will make all of the preparations and provide all of the assistance and organization necessary. Crossbridge attends all meetings of the owners, the board, shared facilities committees and other committees when requested.

Status Certificates

We prepare your Status Certificate and provide all required documentation. Our agreement provides that Crossbridge accepts responsibility for any errors that may occur.

Customer Service

All Crossbridge staff must take our Customer Service Excellence Training Program to ensure delivery of our commitment to service philosophy and our 4 Steps to Outstanding Service approach to all of our dealings. Our standards of response dictate immediate response to emergencies, 24 hour response to voicemail and e-mail messages and 48 hour written response to written correspondence. Our biggest asset is our personable, attentive and professional response to all issues, large or small.

Resident Relations

Our standard response times to communication we receive and our service oriented staff only go part way in developing a good working relationship with all residents. We also make regular contributions to newsletters and we will assist in the preparation of resident manuals so that everyone can benefit from the lifestyle of your community.

Staff Relations

Most condominiums have employees. Whether it is one or fifty-one, Crossbridge recruits, screens, hires, trains, evaluates and supervises building staff on your behalf. We have an excellent Group Benefit Program, annual performance review and planning sessions, regular meetings and other staff development programs in place. Position descriptions, work programs and support from our Corporate Human Resource department ensure that all staff become part of a team and perform at levels expected by your residents. Our policy manual defines strict compliance with the Ontario Human Rights Code, working conditions, Health and Safety issues, retirement policies and board involvement in salaries, hiring and budgeting.

Support for Directors

New directors are given a binder to assist in familiarizing them about their condominium, their new role and the resources and support form Crossbridge. We hold seminars on the major issues facing condominiums like hydro deregulation, gas purchasing and new legislation. Quarterly issues of our newsletter keep them up to date on a variety of topics and we arrange for preferred rates for the ACMO/CCI Annual conference and other seminars.

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