Condominiums › Condominium Corporation

News & Analysis as of May 25, 2013

What is a Reserve Fund Study?

by Matthew J. Wilson | Lerners LLP on 4/19/2013

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

Condo Owners Forced Out By Fire

by Barbara Holmes | Heenan Blaikie LLP on 2/27/2013

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

Special Assessments : The Board Has The Last Word

by Rod Escayola | Heenan Blaikie LLP on 2/21/2013

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

Was Your Condo Reserve Fund Study Prepared By A Qualified Professional?

by Denise Lash | Heenan Blaikie LLP on 2/6/2013

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

Noise Complaints In Condos : The Perils Of Failing To Enforce Condo Rules

by Rod Escayola | Heenan Blaikie LLP on 2/5/2013

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

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