The contract for services must clearly outline the condo manager's remuneration regarding the day-to-day management services provided for the co-ownership (condominium); this management includes the usual acts that are generally part of the base package but the manager can also request additional fees for extra rendered services.
Specifications
Preparing detailed specifications helps the syndicate of co-owners identify the nature of the basic services it expects; during this stage, it is necessary to question oneself on the nature of the mandate to be handled by the manager, that is to say it's important to determine if the board of directors wishes to delegate entirely or partially the day-to-day administrative, financial and technical/property management of the co-ownership.
Day-to-day management fees
Essentially, the cost of the manager’s services is based on the number of hours spent ensuring the preservation of the immovable as well as its administration. The manager's fees vary according to the number of apartments and co-owners to be served, the age of the building and also the complexity of the co-ownership’s legal structure; furthermore, other factors are also taken into account such as the recreational facilities (example: swimming pool), the number of employees as well as the budget allocated to its operation. In brief, to avoid any misunderstanding, the contract for services should specify the services included therein.
Additional services fees
In special circumstances, the manager may charge additional fees; thus, the contract for services should list the services to be paid over and above the basic fixed fee as well as their cost.
Additional services billed by the manager could be related to:
Illicit services
The manager can't charge for a service that does not directly concern his function; he must act with integrity in all circumstances and avoid to be put in situations of conflict of interests with actors within the co-ownership such as the service providers and the co-owners and consequently, he must refuse any compensation or any gifts whatsoever which could be offered by these people.
WHAT YOU SHOULD KNOW! A manager's fees may seem higher for small co-ownership projects since fixed charges are spread over a smaller number of apartments.
WHAT TO KEEP IN MIND: The remuneration of the manager is generally a fixed fee; if additional services are required, additional remuneration can also be charged.
WARNING! The remuneration of the manager must be adequate to the services offered.
