-->
CM Magazine Cover
From the Spring 2020 Issue

The Journey to ACMO 2000 Certification

Its Importance and its Impact on a Condominium Management Service Provider

ACMO 2000 || Angelo Dass

The recipe for creating an ACMO 2000 certification is no doubt long and requires many ingredients that may be hard to obtain. As a recent ACMO 2000 certified company, Capitalink Property Management Ltd. (“Capitalink”) certainly went through this journey. As a company whose modern iteration was established in 2008, Capitalink first required the right team of individuals to execute the company’s vision. With the hiring of hardworking and reliable administrative staff and property managers, Capitalink began to execute its core values: integrity, commitment, responsibility, striving for excellence, and mutual respect. With the appointment of Lingam Kularatnam, RCM as the Vice President of Operations, and the support of Capitalink Team, Capitalink Property Management began to pursue ACMO 2000 certification.

 

Why We Pursued ACMO 2000

There are two predominant reasons why Capitalink proceeded with the certification:

 

1. Greater industry recognition

During 2017, senior management believed that Capitalink was providing condominium management services equivalent to many ACMO 2000 firms. We believed that getting ACMO 2000 certification would provide higher recognition with the condominium management community while providing the same or higher quality of service as our competitors.

2. Branding awareness to prospective clients

Capitalink management also believed that by achieving certification, the management service provider can also receive better branding awareness to prospective corporations interested in hiring management firms.

 

The Process

The process of certification was long, but many of the required components had already existed within the company informally. Some components of the process consisted of putting together paperwork that already existed including human resources policies, new Director’s Guide, purchasing policies, and operational policies. However, these components needed to be further refined to comply with precise compliance guidelines required under ACMO 2000. As such, Capitalink assigned an ACMO 2000 Compliance Committee, headed by a Coordinator, to ensure that the ACMO 2000 requirements were met.

 

Challenges while implementing ACMO 2000 standards

Understanding the need for ACMO 2000 certification and integrating documents was by far the simpler task. Implementing the standards amongst the staff is a bigger challenge. For pre-existing staff, there was a learning curve to understand the performance requirements that are now required of them. Therefore, the initial learning process was slower than anticipated during the transition.

 

Pursuing industry knowledge was also something that went from being highly recommended to required for managers. Therefore, we had to ensure that managers were knowledgeable about various legislative changes by encouraging them to attend all conferences.

 

During the initial Audit, certain improvements were recommended by the ACMO 2000 Auditor, including the minute taking of senior manager meetings, and other aspects such as a more detailed instruction manual on various administrative processes. We understood that these suggestions can also provide a smoother learning process for new employees. As such, these instructions have begun to be implemented into the company process as well.

 

Impact

This Accreditation has great value with boards, as we can uphold a higher standard of property management. Being regulated also reassures the board that they are safe with us. This is especially proving to be a huge asset during the initial relationship-building process with new boards.

 

Pursuing ACMO 2000 was important to our company as it established our credibility as a property management firm that could be regulated and trusted by the property management community. It also allows our hiring and training to be structured.

 

The impact of these procedures can be witnessed when hiring new staff members. With clear HR policies, new employees’ transition into the company was much swifter than before, despite more complicated condominium services climate during recent years.

 

Although the application process was lengthy, it empowered Capitalink by having highly defined procedures and policies on paper. It made the company more efficient in providing condominium services. It also ensured that nothing would be missed when a corporation was managed, from directors, tradespeople or residents to the property managers. Everyone’s roles and expectations were clearly outlined on paper; something individuals could refer to at any time.

 

Therefore, the Return on Investment pursuing ACMO 2000 certification was a net positive. For any new small company looking into providing a higher quality of service, pursuing ACMO 2000 should prove to be a positive impact on your company’s operational processes. The process also ensures that your company has a well-defined long-term growth trajectory.

 

Next Steps After Certification

After receiving the ACMO 2000 certification, we are working to ensure that we practice the operational procedures and that they are implemented in a day-to-day environment. We are also ensuring that our managers and staff review the operational information, such as the building information sheet, and contracts are updated in a quarterly manner. However, remaining an ACMO 2000 accredited company is a continuous journey. Just as how a recipe gets perfected upon reiterations of cooking, so must the provision of good management. It is a journey that Capitalink is willing to continue to provide great management service while maintaining a synergistic and conducive environment for our staff.

 

Angelo Dass, CPA, CGMA, RCM, is the Director of Financial Reporting for Capitalink, a Toronto-based company that provides professional management services to condominiums across GTA. Angelo is also a General Licensed Manager and has been instrumental in service delivery and growth over the past 10 years with Capitalink. He can be reached by email at angelo@capitalink.ca
capitalink.ca


View PDF View Flipbook Back to Latest Issue


Search Archives

Issue Archive
Article Categories
iTunes
iTunes

CM Magazine
Subscribe