Insurance costs for condo corporations have been rising. Some face sharp increases in premiums and deductibles; others are unable to renew their insurance.
Financial uncertainty prevails for condo corporations that are anxious about continuing operations and budgeting in the wake of COVID-19.
Last week, the Ontario government took further action to support condominium corporations, including a new emergency order for condo meetings.
Recent innovations in delivery services may raise additional security concerns for condos, placing renewed importance on access control.
Ontario condo corporations can expect to start filing annual returns in 2018, according to a regulatory proposal released last week.