Financial Management

condo finances

Condo finances feel the COVID effect

The pandemic has altered an interesting and often overlooked item in the budget, which is not a cost at all, but a loss of revenue.
deductibles

Insurance crisis affecting reserve fund planning

The insurance crisis in condominiums is affecting how boards are planning for disasters in Ontario.
repairs

Condos in precarious spot if small repairs sit idle

Should the corporation move forward with certain maintenance repairs if the issue has the potential to become exponentially worse?
elevator repair

Ontario advances elevator repair legislation

Ontario is kicking the dust off of elevator repair legislation, which was passed under the Liberal government in May 2018 but never proclaimed into law.
burnout

Condo managers face pandemic burnout

I am a licensed condominium property manager, I am in my early 30s, and I am completely burned out.
Celebrated attractions convey spinoff real estate value

Iconic sites convey spinoff real estate value

Niagara Falls, and Jasper are the two Canadian entrants on a largely European and American list of locales associated with celebrated global attractions.
Stockyards District

What the new Construction Act means for condos

Construction is a billion-dollar industry in Canada. While most large projects at condominiums proceed relatively smoothly, there is always risk of friction for contractors and
renovation

How to avoid a DIY renovation disaster

The renovation work should aim to improve the property and make it more accessible for residents and visitors.
CDM

Gaps flagged in new CDM programs

After 2022, companies must use their own funds to reimburse embedded energy managers, but will be offered “an enhanced level of technical support and resources.” It's a move some see as more short-sighted.
skills gap

Closing the condo manager skills gap

This pandemic has helped condo managers to identify relevant skill gaps in relation to being prepared for the unexpected.
Ontario endorses competitive mechanisms to trim the price-point of energy efficiency spending

Ontario to stretch energy efficiency spending

A new slate of conservation and demand management (CDM) programs allocates $456 million for commercial, institutional and industrial consumers over the four-year period from 2021-24.
sustainability plan

Creating a condo sustainability plan for 2021

A sustainability plan and budget should be made with the mindset of plan and prevent, instead of react and pivot.
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.
foreign buyers

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.
employment

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.