What Condo Boards Should Know About Special Assessments

special assessments

Special assessments are a condo owner’s worst nightmare. The assessment presents an extra charge on top of monthly maintenance fees. Owners do not have approval over a special assessment. From an owner’s standpoint, an assessment is never a good thing. Most owners trust their monthly fees include a reserve fund to pay for unexpected projects…

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Irrigation in Condos: 5 Ways Water Smart Irrigation Assessments Saves Money

water irrigation system in condos

Inefficiencies in water irrigation systems in condos can lead to costly water waste. Therefore your board needs to ensure proper management and maintenance of your system. One of the easiest ways to do so is to schedule a Water Smart Irrigation Professional (WSIP) Assessment. Here are five ways a WSIP assessment can help reduce water…

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How to Prepare Your Condo Board for Toronto’s 2040 Net Zero Deadline

How to Prepare Your Condo Board for Toronto's 2040 Net Zero Deadline

Toronto’s 2040 Net Zero deadline calls for retrofit strategies that go beyond traditional cost- benefit calculations. Here we look at how to prepare for the deadline by making smarter retrofit choices that help set the groundwork for sustainability. Consider Larger Retrofits Your board needs to focus on larger scale retrofits. Before undertaking any one project,…

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Every Condo Board’s Guide to the Cost Proportions for their Corporation

cost proportions for condo corporations

Let’s talk cost proportions for your condo corporation’s expenses. The monthly common element fees (CEF) your condo board collects come with an obligation to your unit owners. Your job is to ensure you allot those funds properly to cover expenses and manage your reserve fund effectively. Here we offer a comprehensive guide to help you…

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What are the Core Responsibilities Involved in Managing A Condo Corporation vs. Administration?

Condo Management

The title “Condo Manager” can be misleading. While one condo corporation might hire a Condo Manager to oversee administrative duties, another might hire them to carry out duties that require a license. The Condominium Management Services Act defines the core responsibilities of a licensed Condo Manager. Here we compare the core responsibilities of a licensed…

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What’s a Healthy Reserve Fund?

condo reserve funds

Your condo reserve fund sets aside money for non-routine repairs and replacements. However, if your board isn’t careful, you can make critical errors that make it impossible to cover these necessary capital expenditures. As a result, your residents face the risk of special assessments.  Here we look at what is considered a healthy reserve fund…

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3 Hidden Condo Damages Every Board Should Know About

hidden damage to condos

Your building envelope is susceptible to direct and indirect damage. Direct damage is obvious and occurs to the building envelope itself. Indirect damage is hidden and results when direct damage is not addressed. As a result, indirect damage ends up costing your condo money as it is slow and progressive. Here, we look at three…

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The Reserve Fund Planning Challenges All High-Rise Condo Boards Need to Know About

reserve fund planning

With more and more Toronto condo towers reaching over 40 storeys, condo boards need to understand the challenges high-rises present for reserve fund planning. The taller the building, the more challenging upkeep becomes, especially when considering exterior renovations. Here we look at the reserve fund planning challenges for high-rises and the costs of “working at…

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