Are You Serious? Volume 12.

Aggregating the real estate of condominium commentary, opinion, tragedy and truth being told to the public. Buy into the author’s thought or sell your own. For legal advice, consult a professional condominium lawyer.

Condo Trademarks

It is not uncommon for owners to associate and identify their condominium with the marketing/project name the developer provided for the condominium project. Knowledge and use of the condo corporation’s legal name (for example, Toronto Standard Condominium Corporation No.1234) is often not used by owners.  The author of this post sheepishly admits that he only recently learnt the legal name of his condo corporation, four years after ownership! Source: Joseph Salmon, Lash Condo Law

Like Little Towns

Like Little Towns. In speaking with friends who serve on municipal Councils and Boards, I am struck by the utter disbelief they display upon hearing of the lack of accountability of our Boards of Directors and Property Management Companies and of the baffling lack of “enforcement” on the part of the Ontario Government. Each and every one, without exception, has stated that if the antics of some Directors, Officers and Property Managers of some condominium Corporations were to occur in the sphere of “municipal governance”, those responsible would be facing the scrutiny of the Ministry of Municipal Affairs and Housing, the Ministry of the Attorney General and investigations by provincial auditors and regional and provincial police services. Source: CAFCOR, Canadian Alliance for Condominium Owners Rights

Tips for Managers, Boards or Both

Some Helpful Thoughts to Help Everybody to Get Along Source: unknown, CCI – Canadian Condominium Institute

Artificial Intelligence for Condominium Managers

Artificial intelligence technology may soon be ready to improve on management of condo buildings. Source: Toronto Condo News

Demystifying condominium reserve fund studies

An expert shares common financial planning problems as well as possible solutions

Even before 2001, when the current Condominium Act started to require reserve fund studies at least once every three years, the industry was grappling with how to make the best use of this financial planning tool. In broad strokes, a reserve fund study is prepared to identify reasonably foreseeable repairs or replacement of the physical assets of the corporation and create a funding plan that can accommodate the associated expenditures. Source: Bruce Davidson, MediaEdge Communications Inc.

Down Payment for a Condo How Much Do You Really Need?

Toronto housing market has witnessed a large population buying condos either for settlement in attractive neighborhoods of the city or to invest in property. There are several things to consider before purchasing one. The most basic of these factors include- locality of the development, transport, interiors, amenities, and most importantly, the budget range of the condo purchase. Source: Jordan, Precondo

Are You Serious? Volume 10.

Aggregating the real estate of condominium commentary, opinion, tragedy and truth being told to the public. Buy into the author’s thought or sell your own. For legal advice, consult a professional condominium lawyer.

Martin Short and Friends Fight to Save Muskoka from Condos and Over-Development

Toronto cottagers heading to Muskoka these days might find tranquility a little harder to find. Proving still waters can run deep, cottagers and residents alike are protesting new multi-unit condominium projects around the lakes that have made the region famous. Source: Lisa Van de Ven, Storeys Publishing Inc.

14 Common Misconceptions About Condos

Today, we’re sharing 14 common misconceptions about owning a condominium: Source: the BREL Team | Toronto Realtors

Special Assessments in Condos: Insure Your Risk

At a recent annual general meeting, the owners were advised that their reserve fund was not properly funded over the years and repairs needed to be done to the roofs and parking garage in the very near future.  There was discussion around special assessments and how owners would be paying those amounts. Source: Denise Lash, Lash Condo Law

Home or Condo Unit Sharing Through Online Platforms

Short term tenancy or single family visitor? Single family use or multiple occupancy? Rooming house or boarding house? Commercial use? Condominium insurance issues?

Many of the issues listed above have been dealt with in a series of cases and were believed to have nailed down home sharing as akin to hotel use and therefore not in accordance with single family use restrictions common in condominium declarations. Source: John Deacon, Deacon, Spears, Fedson + Montizambert

What is a Section 98 Agreement?

In my last post, I wrote about section 98 of the Condominium Act, 1998, which permits owners to make changes to the common elements if: the board approves the proposed change; they enter into an agreement with the corporation; and notice is provided to all owners (if applicable). Today I’ll discuss the agreement in more detail. Source: Michelle Kelly, Robson Carpenter LLP

Have You Looked At Your Water Bill Lately?

We reported previously on the City’s new fee structure, cautioning that the new tiered approach might be bad news for condominiums (click here to access our previous blog). Source: Nicole Robinson, Davidson Houle Allen LLP