158 Unit townhouse site in 42 clusters
Managed since March 2002
Assignment: Painting and Deck Restoration Project
Result: Greater client satisfaction and $50,000 savings
The painting project involved bi-weekly site visits to ensure the contractor was performing work as specified. Management
scheduled work with the contractor, provided notification to the residents, provided progress reports to council and
coordinated the completion of all deficiencies. This project was in excess of $250,000 and was completed in three phases
as quoted. Quay Pacific Property Management Ltd. was requested to perform the supervisory duties after council became
disappointed with the services of MPDA (Master Painter and Decorator Association). Quay Pacific provided superior supervisory
services to the corporation resulting in less resident and council frustrations.
The deck restoration project was initiated by Quay Pacific when an owner discovered a rotted deck beam. Management coordinated
with the caretaker a unit by unit inspection of the decks. In a building less than 72 years old, one does not expect beams to
become dangerously rotted. Management outlined to council proposed solutions and projected costs, contracting a consultant
qualified to detail the scope of work. A quote was obtained to complete the work at a cost greater than $5,000 per deck. Quay
Pacific, aware of the carpentry skills of the caretaker, recommended the work to be completed in house. To finish the project
in a timely manner, an additional carpenter was hired to work alongside the caretaker at an hourly rate. To ensure
quality, an engineer was contracted for specifications on scaffold and jack placement and construction details.
The caretaker and assistant carpenter were able to complete replacement of the decks at one quarter of the cost of the quoted work.
This resulted in savings to the corporation of over $50,000.
26 Commercial Retail Unit Shopping Plaza
50 Unit Residential Suites
Managed since April 2005
Assignment: Reduce Maintenance Fees
Result: Savings of $10,000 in first operating year
This project was built in 1996. The mixed use residential / commercial section was the first of three phases.
The second and third phases had not been constructed. The residents and commercial units faced maintenance fee increases every year.
Every Owner who attempted to sell their strata lot was faced with buyer inquiries as to the high maintenance fees. Previous management
companies were unable to, or not interested in, reducing maintenance fees. Quay Pacific Management Ltd. was given a three year contract
and a mandate to reduce maintenance fees.
Quay Pacific arranged insurance quotations and obtained the same coverage with an 18% reduction in premium. This was a savings of
$5900 annually. A review of the water bills led to a discovery that the residnetial section of the mixed use complex was being
incorrectly billed for water consumption. Quay Pacific obtained authority from the City of Coquitlam to rectify the situation.
This eliminated an annual expense of $8300. The Corporation has received a rebate for the erroneous billing.
A number of service contracts were reviewed in 2006, resulting in additional savings of over $5000 annually. The corporation has now
reduced its operating expenses by over $20,000 per year.
After 10 years of steady maintenance fee increases and special assessments, Quay Pacific presented them with their first budget ever with
a DECREASE in fees which was approved by the owners in 2007.