The Canadian Institute of Actuaries’ latest insight statement on the longevity of condo infrastructure explores several risks.
As multi-residential buildings grapple with rising construction costs, condo managers in Ontario are experiencing the impacts up close.
Ongoing challenges to capital replacement project costs are wreaking havoc on already stressed reserve funds and causing anxiety for boards and property managers throughout the province.
Construction cost increases are a significant concern if a condo needs to complete work in the next year or so. But the concern isn't just the here and now.
Maintenance and repair obligations of both owners and condo corporations are defined in the Condominium Act, which sets out the minimum default obligations. T
The growing crop of condo owners across Canada will likely encounter huge annual fee increases and lump-sum payments due to low reserve fund contributions, authors of a new research report are warning.
Building failures of this horrific scope are seldom seen in North America. But it is important to examine what happened so we can learn and prevent similar collapses in the future.
How would this scenario unfold in Ontario? Leaving aside the construction process itself, there are vast differences between Ontario and Florida condominium laws that would have given the Champlain towers significant added protections following registration.
Fire plans may need an overhaul as the resident population ages, building systems are updated, and renovations alter the layout of floors or rooms.
The insurance crisis in condominiums is affecting how boards are planning for disasters in Ontario.
Should the corporation move forward with certain maintenance repairs if the issue has the potential to become exponentially worse?
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.
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.
While many condos haven’t yet experienced the major effects of climate change, statistics and case studies foreshadow the impacts that could come.
At least twice per year, property managers should conduct roof inspections and maintenance on their roofs.
The question of how to start a preventive maintenance program is extremely common, and for good reason. With budgets tight and workers stretched thin, preventive