Search results for: common
Pest Control in the winter: How to reduce pest risk for your condo board
Condo boards and residents share responsibility for preventing pest infestations. However, condo boards must implement effective pest control measures to create healthier communities. You can help reduce winter pest risks using these strategies. Know the regulations Section 119(1) of the Condo Act addresses the responsibilities of both the condo corporation and unit owner regarding infestation.…
Read MoreHealth and wellness for condos: your board’s competitive edge
The Global Wellness Institute believes built environments are essential to health and wellness within your condo, driving a growing need for more wellness-centric spaces. As the Toronto real estate market faces value challenges, condo boards can use health and wellness as a competitive edge. Fitwel Certification for your condo board Fitwel Certification targets health and…
Read MoreAI for condo boards: Are condo boards and AI a good mix?
Artificial intelligence (AI) is a time-saving tool with exceptional analytic abilities. Here we discuss whether emerging AI and condo boards are a good mix. What is AI? AI uses technology to mimic human thought. Programs can carry out a growing number of tasks thanks to instant access to information and advanced data processing capabilities. AI…
Read MoreHow to make sure your board aces your condo performance audit
Performance audits identify common element deficiencies under warranty by the Ontario New Warranties Plan Act. Use our quick performance audit overview to help your condo board ace the process. Performance audit 101 Tarion administers the warranty protection required for new homes and condos. A condo corporation’s common element warranties last up to seven years following…
Read MoreHow to make sense of confusing condo board shared facility agreements
Shared facility agreements (SFAs) outline how shared spaces and resources are governed and maintained in multi-purpose developments. Here, our property management company in the GTA help make sense of SFAs and the common challenges they present. What is a shared facility agreement? The Condo Act refers to SFAs as “mutual use agreements.” SFAs define and…
Read MoreIs 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 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 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…
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