Archive for July 2024
Inflation: How to Prepare for 2025 Reserve Fund Study Sticker Shock
Construction inflation is putting pressure on condo boards to find strategies to make up for significant cost increases in refund studies. Inflation could mean making some hard decisions, including introducing common element fee increases or special assessments, putting further financial strain on condo owners. Here we offer tips to help your condo board prepare for…
Read MoreI Quit! How to Gain Control of Condo Board Member Churn
Ongoing board member resignations can cause operational disruptions, interfering with your board’s efficiency and effectiveness. However, you can use the following strategies to help avoid resignations and gain control of condo board member churn. Focus on Resignation Prevention Resignation prevention focuses on simple strategies that help ensure board member satisfaction and success, including: Formalize your…
Read MoreWhat Every Condo Corporation Should Know About Free TAF Support
The Toronto Atmospheric Fund (TAF) is a non-profit agency helping the cities of Toronto and Hamilton (GTHA) meet their carbon neutral goals. Through guidance and funding, the agency facilitates GTHA projects related to global climate stabilization, including energy efficient solutions for multi-unit residential buildings (MURB). Here’s everything your condo corporation should know about the free…
Read MoreNot on My Watch: Security Tips for Condo Boards
Your condo board has a responsibility to take reasonable measures to keep the property and residents safe. Here we share security tips for condo boards to help you implement proven security strategies. Review, Assess and Establish Goals Make sure your board understands your current security plan by reviewing the following: Security documentation Emergency response plans…
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