Maintenance Reserve Fee

The $300 Maintenance Reserve Fee is to help build the Reserves for the Association for future maintenance on the buildings, roads, roofs, etc. The Reserves are to help defray special assessments to the co-owners.

Administration Fees

The Administration/Transfer fee, Status Letter fee and Condo-Questionnaire fee are common in the industry as an additional charge. The management fee is based upon services that are rendered on a routine basis. Such as, but not limited to overseeing annual contracts, accounts payable and receivable, property inspections, attending Board of Directors meetings, etc. However, the transfer fee, status letter fee, and condo questionnaire is charged on an "as needed" basis because it is impossible to project how many of these transfers will occur during the life of the contract.

The transfer fee is based upon the extra work that is needed when there is a transfer of property. This involves responding to calls from Realtor, title companies, and lending institutions handled by our administrative assistant and the property manager. The records need to be changed. This involves both data entry and hard copy files. For instance, the front office administrator must compile a welcome packet for the new homeowner. There is a rebuild of the account from closing out the books to building a new account for the new co-owner. The accountant must also input, CMA approve and final submission for the new payment book. Once the information form is completed by the new homeowner, the front office administrator must input the data provided.

The status letter must be processed from both the property managing and the accounting sides. This is performing an audit of the existing homeowners account and completing a requester specific form which varies from Title Company to title company. This may have to be done numerous times but the one charge covers the request. This is true even if it takes many times within a month to finalize due to homeowner and purchaser negotiations.

The condo-questionnaire is another form that financial institutions may require prior to the sale of a home. This questionnaire can vary from 15 to 50 itemized questions relating to the Association as a whole, as well as to the individual home. It asks about phases of the community, requires bylaw and master-deed references, delinquencies and calculates percentages of ownership, etc.

KC Property Service charges the following for these services:
  • Transfer Fee: $300.00
  • Status Letter Fee: $100.00
  • Condo Questionnaire: $110.00
There may be additional charges affiliate with these services that the website charges for through