A reserve fund is a separate fund that is maintained by the condominium corporation. The reserve fund is funded by condominium owners, and is used to pay for the major repair and replacement of common elements and assets of...more
A recent article in the Toronto Star, Marco Chown Oved reported that residents of a condo building that caught on fire a few weeks ago will be out of their units for several months before the fire-damaged generator can be...more
One of our previous posts stressed the importance for condominium corporations to keep a healthy reserve fund. However, sometimes a board of directors has no choice but to levy a special assessment in order to proceed with...more
Can anyone do a Reserve Fund Study? Yes if you are a Strata Corporation in B.C. and no if you are a condominium corporation in Ontario....more
Property managers and condominium corporations should take noise complaints seriously or risk facing serious financial consequences. In a recent case, a condominium corporation that failed to enforce its rules prohibiting...more
When the Condominium Act, 1998 (the “Act”) was under development, one of the many issues the government was asked to address by condominium corporations and unit owners alike was the general prohibition of changes to the...more
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