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Magnum York Property Management held a virtual customer townhall for our condominium owners and board members, to share what we do and to provide the opportunity to answer some questions about the roles of a management company.
The panelists included Peter Best, President & CEO/Broker, Alex Casuga, Director of Branch Operations, Calgary/Associate, Stephen King, Chief Customer Officer, and Business Leader as well as Holly Yuzwa, Business Relationship Manager for our MYVendor Program and host.
Thank you to our 125+ attendees for joining the Magnum York townhall and for those who submitted questions before and during the presentation; it’s always great to learn how we can continue to improve. For a copy of the slide deck, ask your Magnum York property manager. For information regarding upcoming webinars, visit www.magnumyork.com/webinar.
Brief History of Magnum York – Alberta’s Property Manager
Magnum was founded in 1992. Peter Best bought the company in 2008. With a family history in real estate, Peter grew up absorbing industry knowledge from a young age. After purchasing Magnum and York West, the combination formed Magnum York Property Management Ltd. The focus was then on expansion by managing rental pools, condominiums, and single-family homes and growing into more cities and offices across Alberta.
Magnum York has acquired several other property management companies along the way, including our most recent merger with Sim & Thorne in Red Deer: Magnum York Welcomes Sim & Thorne Property Management To Our Red Deer Office
Magnum York serves over 750 properties in 30 communities, from six locations across Alberta, with our main offices in Calgary, Edmonton and Red Deer. We manage a range of property types, from condominiums, bare land, HOA’s, rental properties, rental pool, and co-ops.
Your Property Management Team – Dedicated POD
A “POD” is dedicated to each condominium property under management with Magnum York. This is comprised of a Property Manager, Property Administrator, and Property Bookkeeper. This ensures a comprehensive approach, which allows us to offer exceptional service through backup redundancy, including checks and balances for quality, as well as providing continuity and consistency for our clients.
For in-depth descriptions of the roles and responsibilities of Magnum York as well as the Condo Board, visit our recent blog post What Are The Roles And Responsibilities of Condo Boards and Property Managers in Alberta?. Here you can download a copy of Magnum York’s eBook “Condo Roles & Responsibilities”. Knowing how to work together leads to successful management.
Magnum York’s 7 Main Services for Corporations
- Accounting, budgeting, financial services, condo fee collections.
- Assist Board to contract & manage physical maintenance.
- Board meetings and annual general meetings (AGMs).
- Monthly reports, record keeping.
- Owner notices and correspondence.
- By-Law enforcement.
We have created a Financial Reference Quickguide which outlines how we present the Corporations financials, how an annual budget is prepared, how to read the auditor’s annual report as well as Magnum York’s collection process. To download a copy of this eBook visit: introducing.magnumyork.com/quickguide-condo.
Where do your Condo Fees go?
As a management company, this is a very common question. Of course condo owners want to ensure their investment is protected and know exactly where their monthly condo fees are going.
The Property Manager works closely with the Board to develop an annual budget to ensure that the property is taken care of. Magnum York tries to help the Board find savings wherever possible, for instance, finding better insurance providers, thoroughly reviewing utility contracts, and finding any potential waste.
Education, Education, Education
Education is very important to the Magnum York team, this includes the education of our own staff as well as education for the condo owners and boards that we serve. Magnum York has created many guides and eBooks (some listed earlier in this blog) to offer this education on various functions of property management.
A large concern for Corporations recently has been how to conduct AGMs during current COVID-19 restrictions. We encourage you to visit our latest blog post: Magnum York Property Management’s Guide To Holding Condominium Virtual Annual General Meetings. Here you can download our Virtual AGM Guide.
What is the Magnum York Preferred Vendor Program (MYVendor)?
This program is an exclusive collection of our most trusted partners, trades & vendors. Holly Yuzwa leads the program as the business relationship manager.
How do you become a Board Member of your Condominium?
Board members are typically elected at the annual general meeting (AGM). Being a Board member of your Condominium can be very rewarding. You will gain a deeper understanding of how the property runs, how to understand the finances, as well as the bylaws that govern the corporation.
Unsure how to be a great condo board director in Alberta? Download our eBook where we break down all the roles and responsibilities of being on the Board of Directors: www.magnumyork.com/gift.
Top Questions & Answers
- Q: What can condo owners do about noisy neighbours?
A: Get to know your neighbours. Some occupants might not be aware of the disturbance they’re creating, so a conversation could resolve the issue. If not, there are noise bylaws in place. Speak to your property manager, or call the bylaw officers of your city to report the issue.
- Q: Why can’t owners pay condo fees through online banking?
A: Unfortunately we cannot allow e-transfers as condo fees are held in a trust account, which has limitations. We have many alternative payment methods, such as through our online portal, or through pre-authorized payments (PAP).
- Q: What is the best way to contact Magnum York?
A: Through our email webform – www.magnumyork.com/service. Creating a service request through our online form automatically creates a service ticket in our system. This ticket is then allocated to the correct person and is tracked. You can view the status of your request through your MYCustomerWebAccess portal.
- Q: If I encounter a plumbing issue inside my unit, who should I call first? A plumber or Magnum York?
A: Typically, anything that is inside the walls of your condo is the owner’s responsibility. If a tap is leaking, for example, that is the owner’s responsibility. It is recommended that you contact the same plumber that is used for the whole property, as they have a prior understanding of the plumbing in the building.
- What Are The Roles And Responsibilities of Condo Boards and Property Managers in Alberta?
- Magnum York Property Management’s Guide To Holding Condominium Virtual Annual General Meetings
- Magnum York’s Financial Reference QuickGuide: introducing.magnumyork.com/quickguide-condo
- Magnum York’s How To Be A Great Condo Director In Alberta: www.magnumyork.com/gift
- Condominium Property Act – Consumer Tips – Owning A Condominium
- Alberta Government – Owning A Condominium Tip Sheet
- How do Jan 1, 2020 Condo Act Changes in Alberta impact owners and condo boards?