Board of Directors

condo trends in 2022

Condo Trends: The 5 Hottest Trends for Condo Boards

Condo boards can look to changing condo trends to help maintain efficient, cost-effective industry best practices. Here we look at the five most compelling trends your condo board can embrace right now. 1. Integrated Technology Facilitating improved responsiveness and effective processes for both staff and residents requires integrated technology. Many condos are functioning with a…
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year in review 2021

The Tough Lessons Condo Boards Learned in 2021

We all learned some tough lessons in 2021, many driven by the pandemic. The end of each year presents an opportunity for you to use those lessons and take them to heart. By reviewing what you’ve learned you can improve your efficiencies and profitability for 2022. Here we look at the toughest lessons learned from…
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condo board

The 4 Most Revealing KPIs Every Condo Board Should Track To Avoid Disaster

The financial and physical health of your condo depends on your board’s management. One of the basic management best practices boards tend to overlook is using key performance indicators (KPIs and more specifically condo KPIs) to measure their success. Does your board measure and track the success of your condo corporation? Here we list four…
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condo collapse in Florida

5 Important Things Florida’s Surfside Condo Collapse Has Taught Boards

Florida’s Champlain Towers’ south condo collapse is a scenario all condo boards dread. Yet, lost life due to poor property management is completely avoidable. Here we look at five important things the surfside collapse has taught condo boards. The Danger of Deferrals According to sources, an engineering report noted “major structural damage” in 2018. The…
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New Ontario Condo Guide

What Boards Need to know About the Condo Guide

As of January 1, 2021 condo developers must provide the new Condo Guide to purchasers of residential new or pre-construction condos. While the Condo Guide speaks to topics of interest for condo purchasers, it’s also important to condo boards. Here’s what your condo board should know about related Condo Act amendments and the Condo Guide…
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poor communication with condo boards

Breaking Down Costs Of Poor Communication For Condo Boards

The efforts to maintain effective communication between condo boards and owners can take up a lot of time. However, when looking at the potential costs and consequences of poor communication, it is easy to see the importance of effective communication. Here we break down the costs condominium corporations face due to poor condo board communication.…
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condo insurance

Condo Insurance: Why Now Is The Time Boards to Plan For Insurance Challenges

As more buildings in the GTA age, the risk for major issues such as water damage rises. Here we explore the world of condo insurance and why now is the time your condo board should plan for insurance challenges. Insurable Losses and Your Reserve Fund Your reserve fund pays for “foreseeable” major repairs and replacements…
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value for money audit in the GTA

A Condo Board’s Guide To The Value For Money Audit

The Value for Money Audit was conducted by the Ministry of Government and Consumer Services. The survey was designed to spot shortcomings regarding the implementation of the reforms made to the Condo Act. It also looked at the role of both the Condominium Management Regulatory Authority of Ontario (CMRAO) and Condominium Authority of Ontario (CAO).…
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Top 5 condo lawsuits

Top Five Condo Lawsuits and How to Avoid Them

Condo owner disputes happen. And it can happen in any condo. Though when not properly handled, they can lead to costly, time-consuming condo lawsuits. However, if you are familiar with the top five lawsuits condo boards and Toronto and the GTA property management companies face, you can take steps to avoid them. 1. Failure to…
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New short-term rental laws

What Condo Boards Should Know About New Short-Term Rental Laws

Most condo boards followed the ongoing struggle between “ghost hotels” operating through services such as Airbnb and housing advocates dead set against them. Following a battle that began in 2016, the advocates finally won out. On September 3, 2020, new laws cracking down on Toronto short-term rentals came into effect. New regulations now restrict short-term…
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