It is common for Condo Owners to be angry with the Property Managers blaming them for not returning their phones calls and/or not resolving their problems. Property Managers ignore their requests for help; frustrations develop and Condo Owners become angry and hostile towards Property Management.
Condo Owners are barking up the wrong tree.
The Board of Directors are to blame because they have the power. The Board controls all of the operations of the building which includes contracts and all service related trades. They approve Property Management contracts and the Property Management company designates a Property Manager to the building to do as the Board says at all expense because they want to ensure their contracts. There is alot of money involved; many of these contracts can range from $120,000 to $300,000 depending on the size and amount of buildings involved. It is a very serious stake in the Condominium World but one that has created major controversy of responsibility because even though these Firms are paid by the Corporation they report to the Board and in most cases believe they represent the Board.
Be wary of getting into arguments with Property Management because once they report back to the Board of Directors; chances are you will have more even more problems afterall it is the Board who is instructing Property Management to ignore your requests. If you have a good Board – it would never get this far.
How do Condo Owners know if their Board is operating in compliance to the Condo Act? The $1 Million dollar question can be answered only if Condo Owners start taking responsibility and learn about Condos, watch their Boards and speak out if they feel things are wrong. Until then; Owners will suffer the consequences of disputes, theft, fraud and a serious problems with their Board of Directors.
PROXY CORRUPTION AT CONDO AGM?
- Qorum was called – the meeting can start!
- 62 Proxies and 28 Owners in Attendance records 90
- How many were for quorom? None the proxies eliminated quorom.
- How many included voting? All 62 because an option for substitution and other non compliance terms were included
- Corporation Lawyer was the Chair at the AGM cost $500 per hour
- The Board hides behind the lawyer to look legitimate!!
- Lawyer refuses question period before the election
- The Board holds control of the majority 62 proxies !
- The proxy form is in non compliance to the Condo Act
- Owners object but Lawyer and Board ignores objection
- The Board appoint 2 of their friends as scruitineers
- Ballots are casted; scrutineers count proxsies behind closed doors
- The Board announces the “New Board Member/s and moves on!!
- How many proxy and ballot votes for each candidate!! Who knows? Only the Board, Property Management and the 2 scrutineers
- The Board forged 62 proxies before the meeting started!!
- 28 Owners wasted their time on the (1) single vote for Director for owner-occupied position
- The Deceitful Board of Directors has MAJORITY VOTE & control
- The Lawyer puts forward a motion DESTROY Ballots; of course and doesn’t answer owners about ability to view the Proxies; of course!!
- The deceitful Board now has control to ie: manouever contracts, skim monies, hold Owners hostage from receiving Condo documents, place unjustified liens on Owners units, create havoc and spread lies and deceit for their own self gain!!
- Owners are so afraid they will remain silent!!!!
- THE BOARD KNOWS THAT THE COAST IS CLEAR !!!
The Condo Owners Association (COA) is recognizing “Deep Concerns” in the Condo Market. It is not just about new construction or reports from Analysts, CMHC, Ontario Builders Associations etc. We have a continual ongoing problem of non disclosure of representation from Builders. There are so many Buyers who do not realize they have an occupancy period; they are forced to close occupancy without a completed unit; the Agreements are one sided to the Builders advantages; delays and undervalued price per square foot on maintenance fees at the time of sale vs the time of close create a financial issue for buyers; many buidings have deficits in the first year and although the builder clears the deficit; the owners are hit with 20% 25% increases after the first year.
…… and why on earth does Tarion only cover 1 & 2 years Warranty for an $80 Million dollar building when most of the standard (not structural) issues surface in the 4-5th year. The Condo market is slowing because the builders increased prices per square foot on new construction way beyond the price per square foot on the resale condo market. They wanted tomorrows profits for themselves and unfortunately buyers get caught up with the glamour of the building and the glass windows (which are another issue) that they purchase and hope…lets cross our fingers….that they made the right decision.
Where is the Accountability? by Adam Sloboda
With more than one million condo owners in Ontario, one would assume that something as important as the Condo Act would be taken a bit more seriously by the Government. With so many individual’s having personal and financial stakes in the review of the Condo Act, where are those who speak for the little guy, the condo owner?
The current Ontario Liberal government has put into a place a review process that is not only lacking on information but also lacking on proper feedback outlets. In the current technological standard that we hold in Ontario, it is inexcus able for the Government to have such a low sample size. From over one million condo owners, the Government has chosen to place only 10,000 individual into a lottery. From that lottery, ONLY 36 individuals will be chosen to participate in focus groups. Out of a possible one million condo owners, does that sample really match the numbers? Does that sound like proper representation?
A greater outreach is needed to be put in place. Outside of the focus groups, the Government should have online options for feed back. Online forums, online surveys and information pages need to be put in place and promote to push condo owners for input. Talking to a group of such small size in this day and age does not make sense. Condo owners not only need politicians who understand their needs but also someone who is brave enough to stand up for their rights.
People in Ontario need to wake up to what is going on. The review of the Condo Act does not only affect Condo owner, Condo Dwellers and Developers, but also store owners, restaurant owners and other small business that make up the areas around Condos. Rather than making it a hunt for votes and one upping other political parties, what Condo Owners really need is a party who will look out for them. Accountability is hard to find, we just need to vote in politicians who do not run away from it.
FINANCIAL STRUCTURE OF A CONDOMINIUM
What determines your Maintenance Fee?
The Condominium Financials includes the operating budget, surplus of funds, contingency funds and the reserve funds of the Corporation. The maintenance fee for each unit is assessed in relation to the square footage of the unit, parking and locker (if included). The Budget will include all of the expenditures based on a fiscal year of operations. Continue reading