CondoBusiness - Financial Management
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Financial Management

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 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.

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.

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 the unknown amid a pandemic

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

A condo tax refresher

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

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.

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 build up resilience in 2020

With always evolving guidelines and pandemic uncertainty, building resilience in condo communities is more important than ever.

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.

Dealing with abusive behaviour in condos

Here are some steps that condo corporations should consider to protect managers and directors from unreasonable treatment.

Are condos prepared for climate change?

While many condos haven’t yet experienced the major effects of climate change, statistics and case studies foreshadow the impacts that could come.

When a condo board becomes interim manager

When most people run for the condo board of directors, the last thing they imagine is a situation where they’re actually running the condominium.

Plans for reopening condo amenities

As provinces gradually gear up for reopening and ease some coronavirus restrictions, there are proactive measures and legal concerns condo communities might want to think

Condo budgeting concerns afoot

Financial uncertainty prevails for condo corporations that are anxious about continuing operations and budgeting in the wake of COVID-19.

Navigating the unknown in communal living

Condo managers are the corporation’s agents for proactive thinking, but now find themselves asking entirely new questions when it comes to communal living.

Documenting evidence in condos amid COVID-19

Condominium property managers should be documenting evidence in the coming months due to losses and claims amid the pandemic.