Financial Management

More electricity price adjustments for Ontario

More electricity price adjustments for Ontario

For now, residential and small business customers enrolled for either time-of-use (TOU) rates or tiered pricing under the provincial regulated price plan will be charged the off-peak TOU rate of 8.5 cents per kilowatt-hour for all electricity consumption.
Vacant dwellings generated $88.2 million in speculation and vacancy tax in B.C. in 2019

Vacant dwellings yield revenue gains for B.C.

Resident British Columbians own about 30 per cent of the properties subject to the speculation and vacancy tax, but account for just 6.6 per cent of collected revenue.
condo

Inside one condo board’s COVID-19 response

In February, before the WHO declared a global pandemic, talk among the condo board at Palace Pier was of various news reports piling in.
Chargebacks

Chargebacks and lessons learned in 2020

Condominiums need to be careful when they decide to chargeback costs to an owner and must ensure they have the legal right to do so before they start lien proceedings.
CAT

How a newly expanded CAT will impact condos

This expansion of the CAT’s jurisdiction into new issues should be noted by condominium corporation boards and managers alike.
insurance

Canada’s condo insurance crisis

Impacts of the hard insurance market are trickling into condominium corporations across Canada, challenging boards and managers in their wake.
roofing

A guide to finding the right roofing contractor

Low-slope roofing systems, on top of most residential towers, will typically require replacement following a service life of 20 to 30 years.
benchmarking

Why benchmarking small buildings still matters

While building codes and standards help regulate efficiency in new buildings, existing buildings have been operating with little oversight and, in fact, no insight at all into how energy and water was being used in our cities.
reserve fund

Reserve fund budgeting: A fan coil unit retrofit

One of the most under addressed issues in aging condos is the fan coil unit. Residents often take an “out of sight, out of mind” approach.
hydro cost hit postponed with extended eligibility for Ontario Electricity Rebate

Rebate extension postpones hydro cost hit

The six-month extension comes with an improved rate since the discount on pre-tax electricity consumption and transmission/distribution costs will increase to 33.2 per cent on November 1.
reserve funds

How is COVID-19 impacting reserve funds?

Many reserve fund projects have not been able to proceed this year. Even now as construction has “opened up,” contractors have backlogs that will allow them to complete only some of the previously planned projects.
Budgeting

Budgeting the unknown amid a pandemic

Condo corporations are facing new budgeting challenges in 2020. Planning for unexpected and increasing expenses is difficult to anticipate.
condo tax

A condo tax refresher

Although condo corporations in Canada are non-profit, there are still tax implications and annual filings that are often overlooked.
suite doors

A guide to rejuvenating suite doors

There are many budget-friendly upgrades that can help make big visual impacts like refurbishing suite doors in a condo community.
condo managers

Aiding condo managers on the front lines

Creating less tension is one way to support condo managers who may be exposed to various levels of stress within their work environments.
Condo communities

Condo communities build up resilience in 2020

With always evolving guidelines and pandemic uncertainty, building resilience in condo communities is more important than ever.
Many hydro accounts for common areas in large multi-residential buildings will no longer qualify for the Ontario Electricity Rebate as of November 2020

Ontario Electricity Rebate applied unevenly

Many hydro accounts specifically tied to the common areas of multi-residential buildings will no longer qualify for the 31.8 per cent rebate beginning in November 2020.