Professional Property Managers in North Vancouver, BC

The main board officer positions include president, vice-president, treasurer, and secretary. For more information on the roles of board members, read our article How to become an HOA board member.

Condominiums, or condos, are multi-unit housing properties that consist of individual residences that are privately owned, as well as common areas shared by all homeowners. Condos are considered real property, meaning homeowners own the deeds to their units and a portion of the common areas. Co-operatives, or co-ops, are not considered real property. A corporation owns co-ops, and co-op buyers own shares in the corporation that entitle them to the exclusive use of their units. Co-ops tend to have fewer amenities than condos and are often located in older buildings. Most co-op associations require that a committee of current co-op owners approve prospective buyers.

High-rise buildings are usually located in desirable settings, such as urban or resort areas, often conveniently close to business, recreational, entertainment, and cultural centers. Many high-rises also offer scenic skylines, beaches, or other dramatic views, especially from some of the higher floors.

Developers should consider partnering with a property management company from the beginning of the real estate development project. A professional firm will be able to provide services and solutions for Early planning and design Marketing and leasing Operational efficiency Legal compliance Financial management Resident relations and conflict resolution

Assets are the things your community association owns. They can be current assets, which will be converted to cash within one year, including accounts receivable for assessment payments. Fixed assets are longer-term and include property, equipment, buildings, vehicles, and furniture. Liabilities are the things your community owes, both currently and long term. Current liabilities are things like bills from suppliers or utility companies. Long-term liabilities are loans and mortgages that can take years to pay off.