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.
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.
In February, before the WHO declared a global pandemic, talk among the condo board at Palace Pier was of various news reports piling in.
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.
This expansion of the CAT’s jurisdiction into new issues should be noted by condominium corporation boards and managers alike.
Impacts of the hard insurance market are trickling into condominium corporations across Canada, challenging boards and managers in their wake.
Low-slope roofing systems, on top of most residential towers, will typically require replacement following a service life of 20 to 30 years.
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.
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.
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.
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.
Condo corporations are facing new budgeting challenges in 2020. Planning for unexpected and increasing expenses is difficult to anticipate.
Although condo corporations in Canada are non-profit, there are still tax implications and annual filings that are often overlooked.
There are many budget-friendly upgrades that can help make big visual impacts like refurbishing suite doors in a condo community.
Creating less tension is one way to support condo managers who may be exposed to various levels of stress within their work environments.
With always evolving guidelines and pandemic uncertainty, building resilience in condo communities is more important than ever.
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.