What Does It Mean To Live In A Condominium/Strata?
What Does It Mean To Live In A Condominium/Strata? Have you ever tried to define a condominium? When I first entered the condominium management business, I sat down with the owner of the company that had hired me. He was a pioneer in the industry, having started his company in the late 1970’s. His first […]
Understanding Condominium Contributions (ie.fees)
Understanding Condominium Contributions (ie.Fees) For many owners, your condominium contributions are an ongoing challenge. Every year, it seems predictable your monthly contribution will go up with outwardly no demonstrable benefit or improvement for the owner. Yet, is this really the case? To better understand your contributions, ask yourself the following questions: Are they really fees […]
Are Your Drains Magical?
Are Your Drains Magical? Located throughout your unit are a number of drains tied into the building plumbing system. The obvious ones being the kitchen and bathroom sink, bath tub and toilet. In some units there are less obvious drains such as the dishwasher, laundry washer and floor drain. These are all located within your […]
Condominium Insurance – Mitigating Loss
Condominium Insurance – Mitigating Loss The rising cost of insurance has been in the news frequently over the past few years. Your board should be working with your property manager to ensure that your condominium is insured per the requirements of the Condominium Property Act. One way to minimize the cost of the insurance is […]
Contracts! What Your Board Of Directors Needs To Know
Contracts! What your Board of Directors needs to know You live in a condo, and you love it. Your garbage gets picked up every week without any issue. The elevator works fine most of the time, and the lawn is cut in summer and snow removed in winter. No worries, right? Then you decide it […]
Reserve Fund Studies – Why Is It Important To Have One?
Reserve Fund Studies – Why Is It Important To Have One? Condominium Corporations in Alberta are required to have a reserve fund study done every 5 years. The reason for this is to build in financial protection for asset repairs and maintenance and retain property values for owners. It should also protect the owners from […]
Condos Are More Popular Than Ever! Here Are The Top Five Issues
Condos are more popular than ever! Here are the top five issues Condominiums have become an increasingly popular form of homeownership over the years, offering a range of amenities and convenient living arrangements. However, as with any form of housing, there are common issues that can arise in condominiums. Here are some of the most […]
Contemplating Buying a Condo? Read this First!
Contemplating Buying a Condo? What you need to know before you make that decision. If you are thinking about buying a condo you need to understand what you are buying and you need to consider the reasons that a condo is or isn’t a good purchase for you. “ The bottom line about buying a […]
Short Term Rentals and Fire Risk, What’s the Relation?
Short Term Rentals and Fire Risk, What’s the Relation? Recently an article was published about fire safety for condos with short term rental units. The article went on to state that in Ontario short term rentals of condo units are causing the Corporation to adopt a higher level of fire safety because the short-term rentals […]
Document Reviews, Why Get One?
Buying a condominium, why get a document review? You are buying a condo and your realtor advises you to get the documents reviewed. You obtain the documents and they are overwhelming and nothing makes sense. You do a quick search and see there are about 10 different companies offering this service. Who do you choose? […]