OPMG's success stories are a testament to its collective knowledge and dedication to the communities it serves. OPMG has a strong track record of success in all areas of its operations, including:
In December 2004, a 110-unit housing provider located in Etobicoke retained our services to decrease members' receivables totaling $31,000 and decrease an accumulated deficit in excess of $231,000.
By the end of April 2005, members' receivables totalled around $18,000 and the accumulated deficit was reduced to $215,000. In addition, OPMG was able to collect approximately $45,000 in outstanding GST payments that dated back two years.
This assignment was particularly challenging due to the short turnaround time: OPMG's initial engagement was for three months. During this initial period, OPMG identified the capital work required, prepared a five-year business plan, filled all vacancies, and identified and implemented savings totaling $62,752 annually. Moreover, we were able bring the community together and foster a spirit of co-operation.
Improved Vacancy Rates
In February, 2009, a 70-unit co-operative located in Whitby retained our services to improve vacancy rates, decrease a $355,000 deficit and decrease an $85,000 members’ receivable. An additional challenge to this project was deteriorating boundary fences and garage and foundation leaks.
Today we have implemented an action plan to collect members’ receivables both for those members still residing in the co-operative as well as for those that have moved out. We have completed a five-year capital repairs plan and engaged the Service Manager in positive talks around securing emergency funding for the life safety issues. Furthermore, the Board is currently reviewing a ten-year deficit reduction plan that will be provided to the Service Manager for approval.
Improved Quality of the Community
Every year, OPMG offers assistance to your neighbourhood children and students. Sponsored by Service Canada, summer students are hired annually through the Canada Summer Jobs program. Their working experiences are valuable and challenging as they are exposed to a diversified and mixed-income community.
OPMG has great success in improving the quality of the communities it serves. To learn more about other ways it is done, click here.
In January 2007, OPMG was retained by a 261-unit co-operative in Oshawa, Durham Region for a one-year period. Our initial mandate was to provide the Board with supervision of their own staff, to improve their existing management systems and prepare the co-operative for an operational review as well as the annual financial audit.
After the first six months and the delivery of our consulting report, the Board opted for our complete property management services.