Articles

Here you will find articles about condominium living, condo management and other topics of interest for board members, owners and residents.
 

True Financial Stability

A strong, healthy corporation requires every facet of property management to work in sync toward one common goal...true financial stability. 

Posted on Tuesday September 26, 2017 read more

Smart Financial Planning

Safeguarding a condominium corporation’s operating and reserve funds is one of the main fiduciary duties of all board members, not just the treasurer. This means that boards must protect the financial interests of the corporation and its members by making sure all funds are properly managed, invested and protected.

Posted on Thursday September 21, 2017 read more

Preventative & Predictive Maintenance are Critical to Your Replacement Reserves

Reserve Fund Studies are based on the assumption that components will reach their maximum useful life. However, if a preventative maintenance plan doesn’t accompany your reserve study, it’s highly unlikely some components will ever reach their maximum useful life. 

Posted on Thursday September 14, 2017 read more

Understanding Condominium Corporation Reserve Funds and Reserve Studies

One of the most important responsibilities of your condominium corporation's board of directors faces is effectively planning for major common-area repairs and replacements. Whether a costly expenditure is needed in a few years or not for 20, it’s the board’s fiduciary duty to make sure your condominium corporation has adequate funds when the time comes. That’s where reserve funds come into play.

Posted on Tuesday September 12, 2017 read more

Condominium Corporation Budgets: Mapping Out Your Strategic Plan

Get the details on creating a strategic plan for your community.

Posted on Tuesday July 25, 2017 read more

Condominium Corporation Budgets: Things to Consider When Creating Your Budget

The annual budgeting process offers an opportunity for your board to explore your condominium’s current financial condition and to ensure your community’s financial stability for the future. Successful condominium management hinges on a well thought out budget for both short-term and long-term planning. 

Posted on Monday July 24, 2017 read more

Condominium Corporation Budgets: Creating a Road Map to Success

It’s budget season! Are you stressed? Concerned about a potential dues increase or a large capital project that’s looming in the future? The word “budget” can be scary, so thinking about creating next year’s budget is daunting for many homeowners boards. We’d like to change that.

Posted on Wednesday July 19, 2017 read more

Tips to Create a Rooftop Oasis

Enhancing the lifestyle of your high-rise property requires starting at the top – the rooftop, that is. By taking advantage of this space to offer creative and imaginative amenities, you’ll not only increase property values, but you’ll also provide a gathering place for residents to relax and connect. Great rooftop spaces also have a way of infusing more resort-style living into your high-rise.

Posted on Thursday March 09, 2017 read more

The Seven Financial Must-Do’s for Condo Corporation Success

There are so many things to enjoy about living in a condominium community. Among them are the sense of community, the great amenities and the high standards. However, if your condo corporation’s finances aren’t stable, none of it is possible.

Posted on Thursday March 02, 2017 read more

The Six Ways a Condominium Management Company Adds Value

If your condominium corporation is self-managed, you may think everything is going along just fine. But what you may not realize is just how much a professional condominium management company could improve your community and how much money it could save your corporation in the long run.

Posted on Thursday February 23, 2017 read more

Five Fundamental Roles on Your Condominium Board

To be successful, a condominium community needs a dedicated Board of Directors who understand their roles and responsibilities and are committed to fair representation of the residents they have been elected to serve.

Posted on Tuesday February 21, 2017 read more

Eight Myths about Partnering with a Property Management Company: Busted

Despite its size and pervasiveness, the property management industry is a mystery to many people. They aren’t sure exactly what a property management company does that they can’t do on their own, the benefits of partnering with a quality property management firm or what to look for when shopping for one.

Posted on Wednesday February 15, 2017 read more

How Healthy and Effective Is Your Condominium Board?

How well is your condo board functioning? Do your meetings feel fluid and productive, or are you stuck in a rut? Do members of your condo corporation trust your board, or are people starting to raise questions about how operations are run? Regardless of how well you think your board is currently functioning, it is always a good idea to conduct a thorough, honest evaluation of your board.

Posted on Tuesday February 07, 2017 read more

Defining Condo Corporation Leaders’ Rights and Responsibilities to Create Better Communities

When your condominium board members (and your property management team, if you are working with a professional management company) have a thorough understanding of their rights and responsibilities, it helps to create a more inviting community. Your community is more likely to be effectively managed and well-maintained, which leads to happier residents.

Posted on Tuesday January 31, 2017 read more

Cyber Security Part Two: Board Member Tips for Keeping Your Condo Association Safe

In part one of this two-part series, we discussed the importance of cyber security to your condo association and the steps that residents can take to protect themselves and their association. In this article, we look at your board’s responsibility in preventing cyber attacks.

Posted on Wednesday January 25, 2017 read more

How Your Condo Board Can Ensure Great Communication

For a condominium corporation, great communication relies on an open exchange of information, thoughts and ideas among residents, board members and your property management company. When communication is done well, you can get the answers you need, tackle challenges and strengthen community spirit. 

Posted on Monday January 23, 2017 read more

Cyber-Security Part One: How Residents in Condo Communities Can Protect Their Tech

Like it or not, we have become very dependent on our technology. Whether it’s a cell phone, tablet or computer, our devices enable us to stay connected, conduct business and access information anywhere, anytime. Yet as convenient as these devices may be, cyber security is simply not a priority for the majority of tech users—despite the increased prevalence of cyber attacks. One recent attack even occurred in our own backyard at the University of Alberta.   In part one of our two-part series, we look at why cyber security is so important to condo associations. We also provide important steps that residents in your condo community can take to protect their technology so that sensitive information doesn’t fall into the wrong hands.

Posted on Thursday January 19, 2017 read more

Six Important Things You Need to Know as a New Board Member

Some owners are reluctant to volunteer to be a condominium board member because they’ve never done it before. That’s why we developed these six essential tips for new board members to help them get up-to-speed quickly. If you consider these points as you get down to condo business, you will be successful in your new role ─ one in which you really can make a difference.

Posted on Friday January 13, 2017 read more

LED Lighting: It’s a bright choice

LED lighting is a great way for a condo building to save money on energy and light bulbs. Since the lights use much less energy and have a significantly longer operating life, the positive impact on the corporation’s operating budget is definitely worth the initial investment.

Posted on Wednesday December 28, 2016 read more

Eleven Tips to Improve the Security of your Home

Don’t make it easy for criminals to get into your home. These 11 common sense tips will help homeowners improve the security of their property and make it safer for their families.

Posted on Wednesday December 21, 2016 read more
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