For all corporations we set up two separate bank accounts, one for the day to day expenses being the Operating Account and the second account is the Reserve Fund Account in which only the major expenditures of the corporation are paid.
All bank accounts require two signatures, which can be two board members, or one board member, and the principal of Cheval Property Management.
Each Month the Condominium Manager prepares a Monthly Management Report which includes all on-going items at the corporation. This includes but is not limited to day to day operations, monthly repair and maintenance updates/status and unit owner concerns received in that month.
Cheval Property Management archives all corporation documents in a secure location for easy access.