Posts by lara
Is Your Condo Board Actually Safe Against Cyberattacks?
It might be hard to imagine your condo corporation being targeted for cyberattacks. However, your board stores valuable resident, personal and financial information that’s hard to resist for hackers. Here we look at common condo corporation vulnerabilities and cyber security solutions to help ensure your condo board actually is safe against cyberattacks. Phishing/Fraudulent Links Phishing and…
Read MoreWhat Every Condo Board Should Know About Heat Pump Retrofits
Heat pumps improve occupant comfort and lower energy costs, making them an effective solution for your condo corporation’s net zero initiatives. Here’s what every condo board should know about heat pump retrofits. Understanding the Heat Pump Heat pumps use a compressor to heat or cool air extracted from outdoors. The air is then distributed to…
Read MoreCan Outsourced Accounting Really Mitigate Risks For Condo Board Fraud?
With a rise in condo board fraud, your condominium corporation requires total transparency with a set of carefully monitored internal financial controls. Here we look at how third-party controls and monitoring through outsourced accounting really can help mitigate risks for condo board fraud. Understanding Where Fraud Commonly Exists Third-party accounting firms understand the following common…
Read MoreWhy It’s Time For Your Condo Board To Achieve Operational Resilience
The past five years have shown condo corporations the importance of quick recovery from unexpected events such as pandemics and flash floods. As a result, condo boards need to embrace sustainable operation plans that help reduce the impact of these events. Here we explain why it’s time for your condo board to achieve operational resilience…
Read MoreWhat’s Better: Outsourced Or In House Accounting For Condo Boards?
There are many reasons condo boards decide to keep their accounting in-house. But is this really the best choice for your condo corporation? Here we look at outsourced versus in-house accounting to help you make the right choice for your board. Top 3 Considerations 1.Team experience Having a director or team member who is an…
Read MoreThe Truth About Whether It’s Ever Okay For Condo Boards To Defer Capital Work
With the cost of inflation presenting financial strain for even the healthiest reserve funds, your condo board might be tempted to defer capital work. Here we share the truth about deferring capital work and whether it’s ever okay to use this tactic as part of your maintenance strategy. When Inspections Say It’s Okay Feasibility studies…
Read MoreHow to Use a Decarbonization Roadmap to Improve Condo Board Planning
A decarbonization roadmap is a guide to achieving targeted reductions in greenhouse gas (GHGs) emissions. Here we explain how to use a roadmap based on your specific building lifecycle and budgeting limitations to improve condo board planning. Comparing Your Costs: Gas vs. Electric An effective roadmap includes mechanical equipment replacement, reviewing the predicted cost increases…
Read MoreThe Most Important Insights Condo Boards Can Gain From the 2024 National Accessibility Survey
Creating a condo community that meets the diverse needs of your residents must include those living with disabilities. Here we share the most important insights your condo board can gain from the 2024 National Accessibility Study (NAS) to create a more inclusive community. What’s the 2024 National Accessibility Study? The NAS is released by the…
Read MoreThe Important Condo Board Role In Heritage Building Stewardship
As a condo board member of a heritage building, you play a critical role in maintaining the historical integrity of the property. Here we look at what the stewardship of one of the GTA’s historic condo conversions looks like for your condo board directors. Historic Preservation Heritage conversions require the retention of notable elements that…
Read MoreWhat every condo board should know about the CAOs’ reserve fund report
In 2023, the Condo Authority of Ontario (CAO) surveyed condo corporations and owners to gain insights into the state of reserve funds in Ontario. Here we share key findings every condo board should know about the CAOs’ reserve fund report preliminary findings released in September 2024. Why the Survey was Conducted The surveys were conducted…
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