5 Important Things Florida’s Surfside Condo Collapse Has Taught Boards
Florida’s Champlain Towers’ south condo collapse is a scenario all condo boards dread. Yet, lost life due to poor property management is completely avoidable. Here we look at five important things the surfside collapse has taught condo boards. The Danger of Deferrals According to sources, an engineering report noted “major structural damage” in 2018. The…
Read More What Boards Need to know About the Condo Guide
As of January 1, 2021 condo developers must provide the new Condo Guide to purchasers of residential new or pre-construction condos. While the Condo Guide speaks to topics of interest for condo purchasers, it’s also important to condo boards. Here’s what your condo board should know about related Condo Act amendments and the Condo Guide…
Read More Breaking Down Costs Of Poor Communication For Condo Boards
The efforts to maintain effective communication between condo boards and owners can take up a lot of time. However, when looking at the potential costs and consequences of poor communication, it is easy to see the importance of effective communication. Here we break down the costs condominium corporations face due to poor condo board communication.…
Read More Condo Insurance: Why Now Is The Time Boards to Plan For Insurance Challenges
As more buildings in the GTA age, the risk for major issues such as water damage rises. Here we explore the world of condo insurance and why now is the time your condo board should plan for insurance challenges. Insurable Losses and Your Reserve Fund Your reserve fund pays for “foreseeable” major repairs and replacements…
Read More A Condo Board’s Guide To The Value For Money Audit
The Value for Money Audit was conducted by the Ministry of Government and Consumer Services. The survey was designed to spot shortcomings regarding the implementation of the reforms made to the Condo Act. It also looked at the role of both the Condominium Management Regulatory Authority of Ontario (CMRAO) and Condominium Authority of Ontario (CAO).…
Read More Top Five Condo Lawsuits and How to Avoid Them
Condo owner disputes happen. And it can happen in any condo. Though when not properly handled, they can lead to costly, time-consuming condo lawsuits. However, if you are familiar with the top five lawsuits condo boards and Toronto and the GTA property management companies face, you can take steps to avoid them. 1. Failure to…
Read More What Condo Boards Should Know About New Short-Term Rental Laws
Most condo boards followed the ongoing struggle between “ghost hotels” operating through services such as Airbnb and housing advocates dead set against them. Following a battle that began in 2016, the advocates finally won out. On September 3, 2020, new laws cracking down on Toronto short-term rentals came into effect. New regulations now restrict short-term…
Read More How Condo Boards Can Successfully Introduce New Pet Bylaws
As pet owners, we love our pets. As a result, introducing new pet bylaws to pet owners can be tricky for condo boards. However, with a clear understanding of Section 58 of the Condominium Act, you can successfully pass new pet bylaws with little opposition. The Condo Act and Pet Bylaws Your biggest challenge for…
Read More Condo Holiday Decoration Rules for the Residents
And just like that, Halloween decor is out. Winter holiday decoration is in. But interestingly, many condo residents don’t know their board of directors has the right to limit holiday decoration. Because of this, condo boards should help residents understand what they can and can’t do. Without putting a damper on celebrations, clear communication helps…
Read More How to Manage Condo Owner-Requisitioned Meetings
Owner-requisitioned meetings are called by the owners of the condo corporation. They can catch your board unawares, as they often involve “touchy” topics. If your board receives a meeting requisition, it’s important to respond on time. Here’s how to effectively manage owner-requisitioned meetings. Why are Owner-requisitioned Meetings Called? The most common reasons owners call a…
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