Financial Management Services
Condominium Financial Services are about fiduciary duty and empowering your Board to make informed, fiscally prudent decisions. Our extensive experience, with over $120 Million in combined operational budgets under management, ensures we maintain your corporation's financial health, in accordance with the Condominium Act, 1998.
Condominium Financial Services: Our Unwavering Commitment
Our comprehensive Financial Management Services are provided by our in-house financial experts, ensuring a depth of knowledge that sets us apart from other condo property management firms.
- Audit Support: We prepare all working papers and deal proactively with financial audits, assisting the auditor in the audit process to ensure "clean and unqualified" financial audits.
- Financial Forecasting & Cost Control Strategies: We perform monthly detailed reviews of financials to identify opportunities for cost savings. Gemini AI analyzes quotes, contracts, and utilities, which is critical for identifying cost-saving opportunities.
- Budget Development: We handle the development of the Annual Operational and Reserve Fund Budgets in compliance with the Condominium Act, 1998 and the Board’s directions. We also provide direction and guidance on Reserve Fund Study requirements.
- Financial Reporting: We prepare and present monthly unaudited financial reports at each Board Meeting. Statements are provided in a transparent and easy-to-read way, with Directors accessing them 24/7 online.
- Account Management: We manage invoice processing, cheque production (A/P), and deposit funds by electronic funds transfer or post-dated cheque deposit. We also handle timely collection of maintenance fees and follow-up on arrears (A/R), including back-charges and the lien process (e.g., preparation of Forms 14).
- Risk Management & Compliance: We utilize SparcPay for payables automation, giving Directors full control to sign and approve payables online anytime and anywhere. We implement robust investment strategies and tracking, ensuring the investment of excess cash is in accordance with the Condominium Act, 1998.
- To 18+ Years
- 28 Employees
- 40 Condos
- 5450 Units under Management
- 110+ Million Combined Operational Budget under Management
Why Choose City Towers?
| Problem We Solve | Our Solution |
| Inconsistent Financial Reporting and Lack of Transparency | Solution: We provide transparent, easy-to-read monthly reports and Directors receive full 24/7 real-time online access to all financial files. |
| Escalating Arrears and Collections Fees | Solution: We enforce a standard collection policy. Crucially, there are no additional fees to the Corporation for debt collection; costs are paid by the unit owner in arrears. |
| Budget Overruns and Inefficient Spending | Solution: Our Intelligent Energy Management Program and Gemini AI identify mechanical, operational, and procurement efficiencies. |
Partner with City Towers for Financial Excellence
Our focus is on meticulous condo financial management that builds trust and secures your investment's future.
Citytowers testimonials
Jasper Scott
3 months ago
Citytowers really take good care of our townhomes community. Our manager Rose has many years of experience and trying her best to upkeep our properties. If you're looking for a reliable condo management company in Toronto, I would highly recommend Citytowers.
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Gary Child
4 months ago
I have lived at 223 Webb since 2016 and I have always had a great experience with the entire Management team. Manni and his team have always been extremely helpful when needed. City Towers, in my opinion, is the most professional Property Management Company around. The entire building staff: Security, Maintenance , Front desk, Office, and Housekeeping are the very best.
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Christian Bennett
5 months ago
The property manager, Halyna, is consistently accessible and proactive in handling any concerns that may arise. Her dedication ensures that our property is meticulously maintained, providing us with a sense of security and contentment.
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Deepa Condocontrol
3 months ago
I have worked with Vitaliy, in setting up Condo Control for their property in Hamilton. Property management is a tough industry and it is difficult to find time for get everything set up and running as you have daily issues to tackle. Vitaliy found time for the process, while balancing with his regular work. I am pretty sure he will be using the platform as well to its fullest potential to provide a very good management experience.
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N. Miller
6 months ago
CityTowers Property Management was recently brought in to replace another company who was not up to the task of looking after our building. Vitaliy, our on-site property manager, has done an excellent job of working with the condo board to develop and implement policies to ensure the building is safe and clean. I have personally been very impressed with Vitaliy’s people skills as well as his administrative skills. This is not an easy job, with over 200 owners to keep happy and he and the company are doing a stellar job.
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Denna Y
7 months ago
I have lived in the Onyx building on Webb Drive since it was newly constructed. The manager (Manni) at this condo is very knowledgeable, considerate, kind and professional. He knows the residents at the building by name which shows proves his professionalism and care towards his residents. He goes above and beyond for the condo to make sure it is in top shape clean and enjoyable for both residents and visitors. Onyx has by far the best amenities and the party room at this condo is extraordinary. My experience being a resident at this condo has been amazing and the management staff has a lot to do with that!
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Kunal joshi
10 months ago
I have been living in 360 Limelight Towers for the past 5 years and I am extremely impressed with the level of service provided by the management team. I would like to really like to thank Abhijit Roy, Kyle,Natalie and Faisal who have always been friendly and helpful, and have responded to any queries or concerns in a timely manner. They do a great job of communicating with the residents and are always proactive. I receive regular updates on any building maintenance or repairs that are taking place, and I always feel informed about what's happening in the building.Overall, I am very satisfied with the services provided by the condo management team. They do an excellent job of creating a welcoming and safe environment for residents.