Condo Owners Association COA

Displaying items by tag: condo information

Emergency Situations

Question: What should the Property Manager and the Board of Directors do in "Emergency Situations"

Answer:  Property Management and the Board of Directors should contact the Proper Authorities immediately and allow them the time to defuse the situations and investigate it thoroughly before taking any steps. 

** Remember, the actions of the Property Manager and the Board of Directors could cause irreversible damage to the Condo Corporations should they take matters in their own hands and/or expose information prematurely without securing facts which can only be done by allowing the Authorities to do their job without interference or obstruction.   This is not the tine for either parties to seek news media attention.  If there is a sister building involved where a building has share facilities, the  Property Manager and neighhbouring Board of Directors need to take cautions to ensure they do not interfere with the situation nor divulge confidential details of the occurrence to outside parties ie. the Press.


In the Case of a Bomb Threat

The Government of Canada Department of Public Safety and Emergency Preparedness outlines an Emergency Plan

If they are negligent to exposure the issue to the Owners prematurely, it would trigger irresponsible reporting through the News Media etc.  The level of safety and true facts of the situation needs to be addressed first beforehand:  

 Occupational Health and Safety Program

Government of Canada - Health and Emergency Disasters

Problems with Property Management

Question: Why do I have problems with my Property Manager all the time, can't the Condo Owners just get him fired?

Answer: No the Property Management Company is hired by the Board of Directors on a majority vote.   The Property Manager is delegated to the building by the Property Management Company because the Property Manager is only an employee of the Property Management Company.  If you are having trouble with your Property Manager it is the responsibility of the Board of Directors to deal with the problems and resolve them.  If the problems cannot be resolved, the Board should make arrangements to investigate if it is a common problem amongst owners.  If so the Board must arrange for an immediate replacement through the Property Management Firm.  If the Property Management company refuses, there is most likely a 30 day cancellation policy on the Contract so the Board of Directors should exercise their rights and cancel the contract.  Unfortunately many times, the Property Manager is only carrying out the orders of the Board of Directors.  Neither the Property Management Company or the Property Manager have any degree of Government licensing so the doors are wide open for abuse.   

Information on Status Certificates

Question: What does a Status Certificates contain

Answer: The Status Certificate package includes:

  1. Condominium Documents
  2. Auditor approved Financial Report
  3. Reserve Fund of the Corporation and any other related information
  4. Insurance Company Letter confirming up-to-date condo building insurance
  5. Cover letter from the Board outlining unit maintenance fees, arrears etc. relating to Unit
  6. Information relating to the condominium building   ie Loans, Liens, Law Suits
  7. Is the Condo Building working with the Condo Owners Association COA

Importance of Reserve Fund

Question: Why is the reserve fund so important.

Answer: The Reserve Fund is extremely important, see notes below:

  1. High reserve funds creates good value within a condominium corporation, the fund must be used in accordance with the study
  2. Board of Directors must have reserve fund to ensure they have adequate fund in the reserve fund for the expected costs of major replacement  (per item 4 below)
  3. Board of Directors must follow reserve fund study for major repair and replacement of the common elements and assets of the corporation (as mandated by the Condo Act 1998) to maintain value
  4. Boards of Directors decisions must comply to all mandates of the Condo Act 1998 and New Condo Act 2015