Chairperson's Address - Fall 2016
Thank you to all the experts in the various fields that have completed or are working on the RCM binders to ensure that they comply with Alberta codes. We are getting very close to having the Physical Building materials finalized.
On September 16 & 17 the 4th Annual ACR conference was held with resounding success. There were 29 speakers, 248 attendees and 37 exhibition booths. It was 2 days of jam packed education and networking for anyone involved in the real estate industry from Condominium Owners, Managers, Real Estate Professionals, etc.
I would like to encourage each and every management company in Alberta to submit their fiscal Condominium budgets to IREM (The Institute of Real Estate Management) who does data collection and produces a report for each city in the USA and Canada that submit their budget figures to the income/expense analysis report. The reports provide quality income and expense data for private-sector office buildings, conventional apartments, condominiums, cooperatives and planned unit developments; federally assisted properties and shopping centers in the top metropolitan markets. These reports are great tools for benchmarking, budgeting, forecasting, planning and more.
I have been using this tool for approximately 5 years to help my staff analyze each line item in the budget. The report includes high, medium and low dollar figures for the city of Calgary on line items such as utilities, landscaping, management fees, insurance, repair and maintenance, etc. The report also includes the number of projects reporting and the number of units involved on that particular style of building whether a townhouse, low rise, high rise or commercial condominium. Take a look at a copy of the report on two styles of buildings that they produce for Calgary. Okay “the race is on” let us see how many more companies we can have submit for the April, 2017 deadline that will be published in September, 2017.
ACMA looks forward to seeing you at our next luncheon.