Novacorp Properties Limited has extensive experience in managing condominium complexes with the senior management team having been involved in this type of management since the 1980’s. Novacorp’s team includes dedicated property managers assisted by an in-house support staff comprised of property administrators and property accountants. This ensures that each Corporation, regardless of Board turn-over, adheres to the Corporation’s By-Laws, Declaration and requirements as set out in the Nova Scotia Condominium Act and protects the Corporation and its unit holder’s real estate assets. Novacorp understands that a condominium is a home and we work to build a unified community within the condominium corporatization.
Novacorp’s team has extensive experience managing condominium properties of all sizes with a current portfolio of condominiums ranging in size from 14 to 200 units and encompassing low-rise, high-rise buildings and townhouse style communities.
As a member firm of the Canadian Condominium Institute (Nova Scotia Chapter), Novacorp is current on industry trends and practices. Reporting to the Corporations’ Board of Directors, Novacorp coordinates day-to-day operations at the property including:
In addition, Novacorp assists Developers in the compilation and maintenance of Corporation By-Laws, operating budgets etc. and acts as interim property manager during that crucial period between first occupancy and registration of the Condominium Corporation. Novacorp also coordinates the start-up of new Corporations, acting as a liaison between the Board and the Developer to ensure construction deficiencies are addressed, and policies and procedures for effective management are established and implemented
- Preparing annual operating budgets
- Coordinating Annual General Meetings
- Managing service & maintenance contracts
- Attendance at Board meetings and Annual General Meetings
- Coordinating general repairs and maintenance of Common Elements
- Coordinating and managing Reserve Funds and Reserve Fund Studies
- Preparation and delivery of monthly Financial Statements and Progress Reports
- Preparation of Estoppel Certificates and other documentation for the sale and refinancing of Units.