Demystifying Maintenance and Repair Roles for Residents in Your Condo Corporation
Posted on Wednesday December 20, 2017
How well do unit owners in your condo corporation understand maintenance responsibilities? You might think that responsibilities for maintenance, repairs and replacements would be straightforward enough – what’s inside the condo unit is the unit owner’s, and what’s outside is the corporation’s.
True Financial Stability
Posted on Tuesday September 26, 2017
A strong, healthy corporation requires every facet of property management to work in sync toward one common goal...true financial stability.
Smart Financial Planning
Posted on Monday September 25, 2017
Safeguarding an Ontario 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.
Understanding Condominium Corporation Reserve Funds and Reserve Studies
Posted on Tuesday September 12, 2017
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.
Condominium Corporation Budgets: Things to Consider When Creating Your Budget
Posted on Monday July 24, 2017
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.