Why Reserve Fund Studies Don’t Tell the Whole Story

reserve fund study

Most condo board members understand the importance of a reserve fund study. After all, it’s one of the most important financial planning tools available to a condominium corporation. It helps boards understand future repair and replacement costs, establish reserve fund contribution levels, and prepare for major capital projects. But there’s a common misconception that once…

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The Hidden Costs of Deferred Maintenance

deferred maintenance

Few condo boards intentionally decide to neglect their buildings. In most cases, deferred maintenance begins with good intentions. A project gets postponed to avoid a fee increase. A repair is pushed into next year’s budget. A component still appears to have some life left, so replacement is delayed. Individually, these decisions may seem reasonable. The…

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Why Condo Owners Get Frustrated With Their Board

frustrated with condo board

Most condo board members volunteer their time because they care about their community. They attend meetings, review budgets, oversee repairs, respond to issues, and make decisions that affect hundreds of residents and millions of dollars in assets. Yet despite those efforts, many boards find themselves facing criticism from owners. Complaints about condo boards are common…

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Understand Your Condo Budget: A Guide for Board Members (No Accounting Background Required)

condo budget

Serving on a condo board comes with a surprising responsibility that many volunteers don’t expect: You become responsible for overseeing a budget that may range anywhere from hundreds of thousands to several million dollars annually. Yet most board members aren’t accountants, financial analysts, or auditors. They’re owners who volunteered because they care about their building…

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Condo Management Communication Problems: Why So Many Boards Feel Left in the Dark

condo communication

Condo management communication problems are becoming one of the biggest frustrations for condo boards across Ontario. Most board members understand that managing a condo corporation is complex. Costs increase, emergencies happen, projects evolve, and resident concerns never completely stop. What many boards don’t expect is feeling disconnected from important decisions happening within their own building.…

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