A COMPLETE GUIDE TO CONDO MANAGEMENT
Owning or managing a condominium comes with many responsibilities, but Alwington is here to help. The following resources tackle the many elements of condo communities in order to provide you with everything you need to know about the responsibilities, and requirements of the Condo Board and Condo Managers.
We are continuously updating this content so come back often!
Contents:
Sustainable Condo Corporations Episode 5: Putting It into Practice
Towards a Sustainable Condominium Corporation Article Series
How a Property Manager Can Add Value Early in the Design Process.
How to Upgrade Your Building’s Design to Lower Your Common Area Costs?
What are my requirements and responsibilities as a Condominium Board Director?
What is the role of Board vs. the role of Property Management?
What is the Condominium Management Regulatory Authority of Ontario?
Where can I find resources for Registered Condominium Managers?
The Difference Between a Condo Manager and a Property Manager
What are my responsibilities when it comes to winter weather?
Spring has Sprung: Spring Maintenance Tips for Condo Corporations
SUSTAINABLE CONDO CORPORATIONS EPISODE 4: ACTING SUSTAINABLY
A condo corporation is a complex system with many moving parts. In order to effectively enact change, there are procedures to follow. In the fourth installment of our sustainability series, we discuss the policies, governance, and stakeholder buy-ins involved in implementing environmentally responsible systems and upgrades.
READ MORE
SUSTAINABLE CONDO CORPORATIONS EPISODE 3: IN-UNIT SUSTAINABILITY
Continuing our series on sustainability, part 3 tackles the complicated issue of in-unit sustainability. While a condo corporation has more control over common elements, the units themselves are the responsibility of each individual condo owner or tenant. Installing energy-saving windows can be done by the condo corporation, but they have no say over what sort of lightbulbs or thermostat settings are used. Instead, Alwington shows you how to make the best of the situation to maximize your impact.
WHAT IS A SUSTAINABLE CONDOMINIUM AND WHO DOES IT BENEFIT?
Sustainability in the real estate industry is becoming an increasingly important topic as we all work together to protect our environments. In this first of five posts on the subject, Alwington examines what sustainability looks like in a condominium context, and dissects the impact of sustainability on condo stakeholders.
HOW A PROPERTY MANAGER CAN ADD VALUE EARLY IN THE DESIGN PROCESS.
A property manager can be an incredible useful resource even before a condo community is up and running. From the beginning of the design process, they can help advise on useful features, functionality, and what may or may not attract residents to a building that others might not see. This article helpfully explores some of the ways that a property manager’s input can greatly impact the success of your next condo community.
HOW TO UPGRADE YOUR BUILDING’S DESIGN TO LOWER YOUR COMMON AREA COSTS?
A long-term budget must take into consideration every element of a condo communities finances, not
just day-to-day, but down the line. In order to maintain or reduce common element fees, consider what
upgrades, repairs, or design features that might affect the efficiency of a building over time. This guide
will steer you in the right direction to decide what upgrades your condo building needs in order to
reduce costs in the future.
WHAT ARE COMMON ELEMENT FEES?
It’s important to understand exactly what it is that Common Element Fees pay for. These fees keep your community running, and fund all maintenance, upkeep, and cleaning of common elements within your building. These fees keep your hallway lights on, ensure your elevators work, and clean your amenity spaces. Following this guide, Condo Owners can see exactly what it is they pay for, and understand how and why rates change over time.
WHAT IS THE RESERVE FUND STUDY?
Common element fees are carefully calculated to properly manage the finances of a condo community, but what happens when something breaks and needs to be replaced? A condo’s budget must always have a fund set aside for repairs that may not be covered under typical maintenance, referred to as the Reserve Fund. This guide breaks down the process of determining how much money is necessary to be allocated to this fund every year, and how finances are managed to keep a condo community running smoothly.
WHAT DO I DO WHEN A BOARD MEMBER RESIGNS?
When your Condo Board loses a member, there are several things to consider. Depending on several factors you may need to find a new member, and fast. But the most important thing is knowing the proper procedures for the right situations. Following this guide, you will learn how to assess the needs of your Condo Board if a member resigns, and how to proceed to ensure quorum is maintained, finances are managed, and your Condo Corporation can continue as necessary.
WHAT IS THE FIRST-YEAR DEFICIT?
Every new development must have a projected budget throughout the development stage and into the first few years of occupancy. Due to the impossibility of creating a solid prediction of the state of the market, trades, or revenue that far in advance, developers must present this budget with the understanding that it is their responsibility to make up for any discrepancies in the first year’s final expenditures after a formal audit is constructed.
HOW CAN I MAXIMIZE MY CONDOS PROPERTY VALUE?
In order to satisfy a modern market, it’s crucial to maintain clean, up-to-date facilities to keep residents happy. Renovations can be costly however, and choosing the right balance can be tricky. By following this guide, a Condo Corporation can successfully choose the best upgrades for their building to satisfy current residents and draw newcomers without blowing their budget.
HOW DO I HOLD AN EFFECTIVE BOARD MEETING?
Running a board meeting is a skill, like anything else. This means that there are certain things you need to consider and practice while running these meetings in order to maintain a successful Condo Board, and therefore a successful Condo Community. Prepare effectively, format a strong agenda, learn how to move a motion, and watch out for common pitfalls in order to hold the most effective board meeting and bolster the success of your Condo Board.
HOW WILL HIRING A STELLAR PROPERTY MANAGER HELP ME?
With the role of a Condo Board Director being a volunteer position, this extra-curricular is an added responsibility to your career, home, and social life. To alleviate the stress and responsibility that comes with this position, hire a Property Manager to help oversee these duties. Why? Because a good Property Manager brings the necessary skills and experience to the table that a Condo Board may be lacking. Continue reading to learn about the benefits of hiring a Property Manager for your condo community.
WHAT ARE MY REQUIREMENTS AND RESPONSIBILITIES AS A CONDOMINIUM BOARD DIRECTOR?
At the end of the day, a Condo Board is in place to represent the views of the majority of owners while ensuring that the condo community is kept running smoothly. From board meetings and voting to communication and transparency, a Director is responsible for understanding and following the requirements for their position. This guide breaks down the role that Directors play in this community, what is required of them before and during their time on the Board, and what the best practices are for representing your condo building.
HOW DO I BECOME A BOARD MEMBER?
Becoming a part of your Condo Board is a simple process, but one with very specific steps you must follow. Once a position opens on your Condo Board, follow these steps to gain a chance to speak in front of the board at your Annual General Meeting, or AGM, before the current Directors vote on the new member.
HOW CAN I BE AN EDUCATED BOARD MEMBER?
Not only is it helpful for a Board Member to be educated, it’s mandatory in Ontario. Any Condo Owner may benefit from these free online classes, but everyone on a Condo Board of Directors is required to complete this course within six months of the start of their term in accordance with the Condominium Authority of Ontario.
HOW CAN I LOWER CONDO FEES?
Common Element Fees typically go up every year in order to keep up with rising maintenance demands as a building ages, economic inflation, and higher price rates for trades. If you’re looking to decrease this cost, follow these four tips to ensure you’re getting the best deal, the most consistent maintenance, and the smartest upgrades possible in order to keep costs low for all Condo Owners.
WHAT IS THE RESERVE FUND?
A mandatory Reserve Fund Study must be completed every three years on any Condo Building. Starting with a “Class 1”, these studies examine the building and assess what repairs may be needed in the coming years in order to properly budget for these expenses. The procedures follow a very specific order, detailed here to help Condo Owners better understand what their fees are financing.
WHAT IS THE ROLE OF BOARD VS THE ROLE OF PROPERTY MANAGEMENT?
The first step to understanding how a Condo Community functions is this: understanding what roles a Condo Board fills as opposed to a Property Manager. Both have important responsibilities in ensuring the continued success of the building, but where the Condo Board acts in the interests of the community as a whole, a Property Manager works more closely with Condo Owners and Residents, taking care of the day-to-day upkeep of the community. Follow this guide for a comprehensive breakdown of where these responsibilities fall.
WHAT IS A STATUS CERTIFICATE AND WHY DO YOU NEED IT?
Following Section 76 of Ontario Condo Act, every Condo Building must complete a Status Certificate in order to provide potential buyers with all the information they need regarding the building’s legal and financial details. Following this guide, a Condo Owner or Condo Board Member will find all the necessary steps to acquiring a Status Certificate and what information it provides, including helpful resources and examples.
HOW CAN I MANAGE CANNABIS IN CONDOS?
With the legalization of Cannabis in Ontario, Condo Communities find themselves in the position of needing to implement new rules and regulations surrounding the usage of Cannabis on the property. Many Condo Boards make the decision to follow the same rules as smoking cigarettes, as many of the health and safety concerns are the same. Here are some of the questions your Condo Board should ask before making the decision on how to regulate Cannabis within your community.
WHAT DO CONDO FEES REALLY COVER?
The funds from collected Condo Fees go to three different key elements: Building Maintenance, Common Area Utilities, and the Reserve Fund. Here we break down what each of these three categories cover and how they may be determined, in order to provide Condo Owners a better idea of where their money is going, why it’s necessary for Condo Fees to be paid, and how their community is run.
WHAT IS THE CONDOMINIUM MANAGEMENT REGULATORY AUTHORITY OF ONTARIO?
To ensure the proper management and ethics of the condominium industry, the Condominium Management Regulatory Authority of Ontario oversees all Condo Managers and Condo Management Firms. With standardized regulations, the industry can be upheld to a high standard to protect the interests of all Condo Owners and Residents. The following article highlights the CMRAO Code of Ethics for a better understanding of the standards all condos are held to.
WHERE CAN I FIND RESOURCES FOR REGISTERED CONDOMINIUM MANAGERS?
Whether you’re looking for the laws and regulations of the Condominium Act, law changes, or some FAQs about condo ownership or management, the following resources provide insight into the different facets of owning or managing a condo from legal to practical.
HOW CAN I EVALUATE A CONDO MANAGEMENT FIRM?
When choosing a Condo Management Firm to hire to work with your community, it’s important to properly evaluate each potential Firm thoroughly before establishing a contract. Follow this guide for a comprehensive breakdown of our 5 important elements: Licensing, Depth of Team, Experience, Use of Technology, and Professionalism. By examining a Firm from these angles, you can find the best Condo Management Firm for your Condo Building.
HOW CAN I SURVIVE MY FIRST CONDOMINIUM BOARD MEETING?
No matter your level of experience, every Board of Directors is different, no matter the industry. In order to start off on the right foot and get the most of your first meeting with a new board, follow these 5 easy steps. Not only will you come off as professional yet personable, you will come out of the meeting with a better understanding of the board, and a great structure for future meetings to follow.
HOW CAN I BE A SAVVY OWNER?
Being a part of a condominium community has many benefits, but it’s important to understand your rights and responsibilities as a condo owner. In order to be a savvy owner, there are certain documents, laws, and obligations you must be aware of in order to avoid any misunderstandings, unforeseen costs, and other important factors. Following this guide, you can learn how to be the most responsible and informed condo owner you can be.
WHAT IS A STATUS CERTIFICATE AND WHY IS IT IMPORTANT?
When purchasing a unit in a condominium corporation, there are many elements to be considered that do not apply to a single freehold home. A Status Certificate, regulated under the Condominium Act, is a document that compiles the information about your unit, building, and corporation, in order to provide owns and potential purchasers with a complete view of the status and processes of their condo. This guide breaks down everything you need to know as a Condo Owner about why and how to read a Status Certificate.
WHAT IS A SPECIAL ASSESSMENT?
What is a special assessment? This is essentially a mandatory bill that Condo Owners must pay in special circumstances, used to finance the repairs of an element of the building that the reserve fund cannot cover. Read more to find out what circumstances might require a special assessment, how a Condo Corporation can prevent this, and what the alternatives look like.
HOW DO I TO START A CAREER IN PROPERTY MANAGEMENT?
Property Management is a field full of moving parts. Working with different industries, clients, and residents, a Property Manager must have a broad skill set and a wealth of knowledge in order to succeed. We help break down the process in this white paper, helping you decide whether or not the Property Management field is the right fit for you, the education you might need, and how to get involved in the industry. Alwington Communities is a dynamic property management firm, leading the industry with dedication and tenacity.
WHAT IS WEAR AND TEAR OF COMMON ELEMENTS?
Normal wear and tear occurs in every building. Depending on the traffic and types of residents, the rate of deterioration of common elements may be higher or lower and is therefore hard to predict initially. The following article highlights some of the different common elements that may see wear and tear, how to prevent unnecessary damage over time, and how Condo Communities finance this type of repair over time.
WHAT IS A SERVICE STANDARD FOR COMMON ELEMENT REPAIRS?
When managing a condo community, constant decisions are being made in order to maintain the proper functioning of the building. Often, necessary common element repairs are more complicated than simply calling a contractor to fix the problem. Depending on the expectations of the condo board and condo owners, certain standards must be met with regards to aesthetic appeal and cosmetic flaws. Alwington has the solution to thoroughly understanding the service standards your community must hold.
The Difference Between a Condo Manager and a Property Manager
To many, a Condo Manager and a Property Manager might sound like the same position. In reality, these two roles have very distinctive skill sets that are both essential to a successful Condo Community. In this blog, we comprehensively break down each position and highlight the importance of each, so you can better understand what they do and why we rely on them.
GUIDELINES FOR THE RENTAL AND SALE OF PROPERTIES DURING
As we continue to navigate the world during a global pandemic, it’s important to ensure the health and safety of yourself and others. The housing industry has become particularly tricky, but the experts at Alwington have helpful advice to homeowners and Condo Boards in order to safely show and rent units during the pandemic.
CONDOMINIUM CORPORATIONS AND SECURITY
When managing a condo community, the question of security is often on the mind. While far from mandatory, it may be a choice that you wish to make to ensure the safety of your residents and property. In this article, we help you consider whether or not your community would benefit from a security service, how it’s funded, and what options are available.
ONLINE AGMS – THE WAY OF THE FUTURE
Throughout the past year, AGMs have gone virtual. By hosting these meetings online through a
secure software, many of our clients have seen a significant increase in attendance of these
meetings for a number of reasons. The following article spills the facts on why AMG attendance
has increased, how software is making meetings easier, and why we believe that the future of
condo boards will rely on virtual meetings as an industry essential.
ROLES AND RESPONSIBILITIES OF THE BOARD OF DIRECTORS
As a member of a Board of Directors within a Condo Corporation, there are a variety of responsibilities one must fulfil alongside a licensed Condo Manager. In order to keep every condo running smoothly, everyone must do their part and avoid overstepping their position so that their colleagues can effectively complete their own responsibilities. In this guide, we break down what a member of a Condo Board is expected to do, and what they are not to do in order to maintain proper condo functions.
SUSTAINABLE COMMON ELEMENTS
Part 2 of our sustainability series examines the impact of common elements on our environment, and how condo corporations can implement different procedures and technologies to help reduce impact, and even save money. And to cap it all, we take a look at the importance of reducing carbon emissions and lowering our carbon footprint.
SUSTAINABLE CONDO CORPORATIONS EPISODE 5: PUTTING IT INTO PRACTICE
The final article in our sustainable condo series gets down to business by breaking down the final stages of the process. When making big changes within a condo corporation, there are many permits, contracts, and construction specifics to follow, but Alwington breaks it down step by step to help condo corporations move forward and build towards a greener future.
HOW DO WE BUILD BETTER COMMUNITIES?
To help our communities join the fight against climate change, Alwington has published a comprehensive ebook on Sustainable Condominiums, covering everything from Common Elements to Units and beyond. This guide takes you step by step through the process of implementing sustainable practices from start to finish, outlining procedures, policies, and more.
WHAT ARE MY RESPONSIBILITIES WHEN IT COMES TO WINTER WEATHER?
Every season brings new challenges to the world of Property Management. From snowy sidewalks to hidden ice, it’s the responsibility of the Condo Corporation to ensure all residents and their guests aren’t at risk of injury while on the property. In this piece, we break down the important elements to watch out for in the winter season.
How to Maintain a Financially Healthy Condo Corporation
A financially healthy condo community requires a delicate balance. This blog breaks down the steps to ascertaining whether or not your condominium is financially healthy, what that means, and why it’s such an important factor. This way, your community is prepared for any unexpected hardships, and runs smoothly year after year.
Choosing the Right Condominium Management Firm
Hiring the right Condominium Management Firm is tough. This guide breaks down the dos and don’ts of finding the perfect match for your community to make sure the needs and wants of your condo owners are met, and your condo corporation is run successfully into the future.
HOW TO CREATE A REALISTIC CONDO BUDGET
Every year, a condo corporation is responsible for drawing up a budget for the coming months. Many condos underestimate their budget for the year in an attempt to keep costs down, but Alwington Communities recommends another technique to better prepare yourself for the fiscal year. This blog breaks down the essential elements of the budget that must be considered, and the best practices for a Condominium Manager budgeting for their clients.
Spring has Sprung: Spring Maintenance Tips for Condo Corporations
As the weather warms up, it’s time to start thinking of spring and summer maintenance! From fixing pavements to cleaning carpets, changing filters and more, Alwington breaks down the essentials for a Condo Corporation’s spring to-do list to keep your building in tip-top shape.
