Co-ownership property management

Module 1: Legal management

Training offered by Me Yves-Joli-Coeur, lawyer emeritus, founding president of the provincial RGCQ.

 

Contents

• The basics of co-ownership
• How co-ownership works
• Declaration of co-ownership
• Co-ownership finances

This course explores all aspects of the legal framework governing condominiums in Quebec and the resulting governance, including declarations, by-laws, special rules and rules of professional and ethical conduct.

Module 2: Financial Management

A training session given by Aline Désormeaux, CPA, founder of Desormeaux Patenaude, administrator of the provincial RGCQ.

Contents

• Understanding financial statements
• Trust accounting
• Financial forecasting
• Contingency funds
• Auditing

In the first part of the module, participants will learn how to prepare and analyze the financial statements of a syndicate of co-ownership. Fund accounting concepts, including all the particularities of the contingency fund, will be studied. The course will enable participants to recognize the different expense allocation keys in a declaration of co-ownership. They will also work on preparing financial forecasts.

Participants will then be asked to understand trust accounting, since this type of accounting is required for managers who are members of a professional order. Finally, they will examine the various auditor's reports and the internal controls to be implemented in a syndicate of co-ownership.

Module 3: Managing daily life

Training offered by David Ménassé, Adm, President of Équipe Propri-Gestion and Director of RGCQ-Montréal.

 

Contents

How to manage a condominium and its community of residents.

• Communications between stakeholders
• Insurance and prevention
• Deliberative assemblies
• Daily life in a European condominium
• New laws and reforms
• Management of major works
• Managing other people's property
• Conflict management
• Management contracts
• Ethics and deontology
• Good day-to-day management practices :
• Claims management

The formal basics acquired in the three previous training modules (legal, financial and technical) are repeated and explained in the context of day-to-day condominium operations.

This interactive module is made up of numerous scenarios, models, simulations and discussion periods between the trainer and the participants. Question periods are also an important learning strategy. Among other things, this approach makes it possible to analyze certain situations experienced (or potential) by condominium owners, managers or administrators.

Module 4: Contingency Fund

Training offered by Réjean Touchette, T.P., President of Cossette & Touchette Inc. and Director of RGCQ-provincial.

 

Contents

• The asset management plan in real estate asset management;
• The contingency fund in condominium management;
• Certificate of condition of a condominium;
• Multi-year asset maintenance plan;
• Financing strategies;
• Steps in a contingency fund study;
• Strategy for setting up a realistic contingency fund;
• Assessing the impact of the quality of contingency fund
• implementation on condominium value.

The contingency fund is an essential element for a condominium. Its purpose is to provide adequate multi-year financing for “essential” major repairs. The strategy used to build up a fair and reasonable contingency fund has a decisive impact on the competitiveness of the real estate asset. Deficiencies in financing are often discovered late, at a time when it becomes difficult to implement a competitive financing strategy. The aim of this training course is to make managers, administrators, co-owners and investors aware of best practices concerning contingency funds, so that they can assess their qualities and likelihood in relation to real estate needs.

Module 5: Building management

A training session presented by Valery Couture, CEO of Condo Strategis and condominium manager;
David Touchette, Professional Technologist at Cossette & Touchette;
André Bourassa, retired Architect; and Patrick Ouellet, Engineer specialized in the maintenance and repair of structures.

Content

• Identify the responsibilities and obligations of condominium managers regarding the technical management of the building.
• Identify the applicable codes for different types of buildings and understand their implementation.
• Understand the process of a maintenance, repair, or renovation project and identify the key stakeholders involved.
• Identify the main structural components of a building, understand their function, recognize signs of potential issues, and determine the appropriate professionals to involve.

The training module on building technical management takes a practical approach aimed at providing participants with a better understanding of the functioning of condominium buildings.

An overview of the applicable legislation for building construction and maintenance will be presented.

Following this, the different stages of a maintenance, repair, or renovation project will be explained, along with the key stakeholders involved in the process.