What Makes Us Different

Condo Accounting

Professionalism in Action

  • Our two principals are very familiar with the condominium and service industries. Both are designated professionals in their fields and published authors
  • Our president, Andrea Silman, RCM, has more than 12 years experience managing condominium properties and possesses the vaunted RCM designation. She has spent more than 30 years in the condominium industry.
  • Her partner, husband, is a Chartered Professional Accountant CMA​ ​​with many years experience in the service industries including running his own consulting firm. He also has an MBA from the University of Ottawa.
  • Both principals not only walk the walk, they talk the talk. They are both very familiar with the Ontario Condominium Act.

Our Firm

For property management companies, condominium boards, or property managers, Condo Services Agency can help minimize overhead, up to and including complete outsourcing of all administrative functions.

Each property is kept separate. Profit and loss statements are prepared for everyone. Periodic government payments, payroll-related forms, and government and WSIB forms for employees can all be prepared. The client authorizes all transactions, and a proper audit trail is kept. Bank signing authority remains with directors and it will be ensured that all work orders are director authorized.

Condo Services Agency will prepare a complete history of the condominium corporation ownership from the date of signing, and can provide budget information, full financial reports (including charts and dashboards), and bank reconciliations for each month. Reserve fund and operating budgets are prepared annually, as are financial statements for the Annual General Meeting (AGM). Other materials for the AGM will be prepared and distributed. Using Condominium Manager software, work orders can be automatically issued, payment for work orders certified as complete can be handled, records can be kept of work done in any suite, and reconciliation of issued and outstanding work orders can be done. Automated billing and management of accounts receivable can be implemented.

We can also collect common element fees and manage assets of common areas. Condo Services Agency will work with external auditors and reserve engineers, and is able to issue periodic communications to all clients. Conversion to our software can be done simply, either at year-end or after a given month. Condo Services Agency delivers a full range of financial reporting services. Your financial controls are appropriately reviewed and strengthened, and you remain in complete control of all of your resources and assets. You have 24/7 secure access to all information from your computer, and accountability is assumed by our professionals.