With Pinnacle’s main business focus being property management, we pride ourselves on our commitment to providing our clients with a full-service management solution.
Financial Management Overview
Each month the Board will receive detailed financial reports outlining all of the financial activity of the Corporation.
Monthly Financial Reports
- Balance Sheet
- Profit and Loss with variance
- Detailed General Ledger
- Cash Flow Report
- Accounts Payables
- Account Receivable
- Fully Reconciled Bank Statements
Budgeting – A detailed annual budget is central to successful financial management. Pinnacle will review the prior year’s actual expense with current performance to establish a budget that is both fiscally responsible and will properly address outstanding concerns based on a needs assessment.
Operations – Pinnacle utilizes the latest accounting software system designed to give a greater level of detail into income and expenses.
Accounts Payable – Pinnacle maintains a superior A/P system that ensures your vendors are paid in a timely fashion and in conjunction with any applicable contracts.
Taxes – We will assist the Corporation in auditing the financial records and providing a tax return each year.
Site and Maintenance Management
Your property value is directly tied to the appearance of the common areas. At Pinnacle, we strive to implement effective maintenance programs designed to maximize the appearance and minimize cost impact. Pinnacle will implement controls to ensure work is completed correctly and efficiently.
- Maintenance Programs – Programs will be initiated with the current budget and needs assessment in mind. Outside vendors will be used as appropriate. The Board will be notified via frequent updates as to the status of ongoing maintenance.
- Inspections – Each maintenance program will be implemented with industry benchmarks and will be frequently audited to ensure the delivery of goods. The asset manager will perform frequent site inspections to review progress.
Administrative Management
Administrative management is central to the implementation of effective communication programs, homeowner and Board meetings, and processing of special assessment and condominium fee billing.
- Meetings – facilitate the coordination of Board meetings and Annual General Meetings.
- Homeowner conflict resolution – Pinnacle has a set of escalation policies and will inform the Board of each complaint and a recommendation on resolution.
- Legal and collection – Pinnacle will pursue outstanding receivables and assist the Board in any legal proceedings. Court appearances and caveats are an additional fee.
- Communications – Pinnacle prides itself in its approach to proactive and effective 2-way communication.
