Here’s where you’ll find recent articles about FirstService Residential, as well as our impact on the areas we serve.
Policies are necessary in any condominium corporation, but if they aren’t well thought out or properly implemented, they can create more problems than they solve. For example, if a rule goes too far, is not enforced fairly or is not enforced at all, it can cause resentment among unit owners and erode your sense of community. So what can your board do to be certain that the policies you establish do the job they were intended to do?
As a member of your condo corporation’s board, you have a fiduciary duty to your community. In part, that means getting insurance protection for the corporation at the best price possible. However, condominium corporation insurance can be very confusing.
Creating your condominium corporation’s annual budget is one of the most important responsibilities your board has. It takes a lot of hard work and may require spending decisions that won’t be popular with unit owners. Consequently, owners may voice strong objections or even question the board’s ability to manage the corporation’s money.
For the more than 1 million Ontario residents who live in condominiums, driving an electric vehicle (EV) has become a more viable option. Recent changes to the Condominium Act, 1998, address one of the primary barriers condo owners have faced: limited availability of EV charging stations (EVCS) at their condominiums. The revisions, which went into effect May 1, 2018, establish processes for getting EVCS installed in condominium buildings.
At one time or another, every condominium corporation has to spend money on replacing equipment or making major repairs. Whether that means replacing a roof, installing a new ventilation system or any other big-ticket project, they are a necessity. But how should your condo corporation pay for them?
A condo corporation’s overall financial health relies heavily on following regular maintenance schedules and making necessary property improvements before it’s too late. To ensure that these important responsibilities are well managed, a long-term plan and effective handling of day-to-day projects is required. Want to know what you can do to make this happen?
If you’re like many board members, one of your most challenging jobs is running your condominium corporation’s board meetings. Keeping everyone on task and addressing board member disagreements is not always easy. So what can you do to manage your meetings more effectively?
As a board member for your condominium corporation, you know that your community depends on volunteers to operate successfully. However, finding residents who are willing to be on your board of directors, join a committee or help at an event can be challenging.
Humans are social creatures with a deep-seated yearning for connection and community. This is particularly evident in a condo corporation, where a strong sense of community can be the difference between long-standing residency and high turnover.
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.