Article Library
CONDOCENTRIC: Residents In Water Over Floods In Unit
Question:
We reside in a downtown condo on the 30th floor. Above our ceiling are the pipes from our building. During the past six months we have had four floods in our unit. Two caused minimal damage (warped cupboards, soggy carpet) and two caused more extensive damage (leaks on our …
CONDOCENTRIC: Ask The Pros - External Vents, Balcony Enclosures, Insurance Trustees, and Short-Term Rentals
Question:
Please outline the steps that a condominium board can take to limit, control or even stop short-term rental of units. We have on unit in our complex that is rented out, fully furnished in much the same way as an executive suite, on short-term stays – three months at …
CONDOCENTRIC: Record Keeping
Imagine the following scenario: a condominium corporation spends tens of thousands of dollars to carry out balcony repairs over several years. The cost for each instance of repair is relatively small, as the repairs are carried out on an as-needed basis; however, the overall amount spent is significant. The repairs …
CONDOCENTRIC: Discretionary Borrowing
The discretionary borrowing authority, found in many existing borrowing by-laws passed under the Condominium Act, R.S.O. 1990 (the “old Act”), is necessary to allow a condominium corporation to meet its short-term financial obligations without resorting to the premature liquidation of its investments. While investments are generally scheduled to mature to …
