Tag Archives: millions of dollars

Condo Act Review Has Flaws

Another problem from Condo Owners, it never ends. It is a true shame that these types of things are happening to condo owners all over the province As you are aware, COA is involved in the condo act review and it has been a concerning process. There are substantial flaws in the process and the over 90% involvement of service related trades may be compromising the new recommendations for changes to legislation in particular the Condo Office where Condo Owners are expected to pay for Property Managers to be licensed yet they are employees of Property Management Firms who already receive monies for their contracts from Condo Corporations.  If you are a Condo Owner “SAY NO TO CONDO OFFICE”  it will cost you $$$ Millions of Dollars!!   Where does it stop? Why does the contract not already include the services of license property managers from licensed firms.

In many situation it is the fault of the Board of Directors who allow Property Managers free rein to do as they please. In many cases we are also finding that there are concerns of kickbacks and overinflated contracts which are jeopardizing the financial stability of condo corporations. It could be from either Property Manager, the firms and/or Board. Unfortunately without condo owners standing up for their rights and joining COA; it is difficult to combat. The Board has a fiduciary responsibility to act in the best interest of the corporation. Property Management firms are only contractual services and the property manager is delegated by that firm to over see the operations of the corporation ONLY on the instructions of the Board. If you are a past board member you may have been in a position to force changes for a new company but again that decision would have to be with a majority vote so if there is no support of this decision then you may have to call a meeting with 15% owners and try to force changes. Many condo owners feel they may be ostracized and or have more conflicts by complaining but the situation will get worst and there may be concerns on your financials.

If the corporation has broken personal ownership items of a Condo Owner they should be responsible however the Condo Act is self governed which lends itself to abuse and a one side power against Condo owners in many cases. We wish we could give more positive answers to help Condo Owners but there are none because the Condo Act has tremendous Flaws!

COA is always looking for support and volunteers because if we can grow with a strong following as the Teachers Association or any other Associations only then will Condo Owners have a strong voice and government will have no choice but to listen without the constant influence of service related trades protecting their own interest. Condo Owners have to stand up for their rights, it is long overdue!