Elect Candidates with Expertise on your Board

Posted on October 27, 2021 by | Comments Off on Elect Candidates with Expertise on your Board

The Condo Act should legislate that condo board members must hold professional designations related to the position requirements,  psychological testing, and strong track record of proven accomplishments and experience with references. 

Owners should send in their resumes for specific positions President, Secretary, President and 2 Directors. Candidates should be scored and put into the specific positions by Owners and not the board elect.

It is illegal for Condo Boards to call for 5 new board positions by resume at the AGM but they do it anyway. These Boards need to be personally fined and their Directors Liability Insurance cancelled. Condo Owners need to vote for candidates to fill each position based on proven experience and qualifications.  Having a Board with no experience is a run away train. Real professionals that understand business should be on the board. 

Candidates like a professional janitor or caretaker of buildings, for example, engineer, lawyer or paralegal, C-Suite professional with leadership abilities, a jack of all trades with advanced governance, business professional experience, persons with a professional real estate career or appraiser, perhaps a security or emergency management officer, and designated accountant are what is needed to ensure good governance and intelligent decision making ability. Also a person with credentials in the construction, building world. Board members need some knowledge of construction, refurbishments and mechanicals. The possibility of approving overpriced contracts could be a huge problem with Directors who have limited knowledge.

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Posted in Condo Issues, Condo Property Management, The Condo Act

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Building a Better Condo Act

Posted on October 27, 2021 by | Comments Off on Building a Better Condo Act

Stronger Ontario Building Codes to keep Condo Owners Safe

If we go back to the time when Municipal Affairs and Housing Minister, Kathleen Wynne announced changes to strengthen the Ontario building code to help prevent balcony glass of newly constructed buildings from breaking and keep Ontarians safe in high-rise buildings.

http://news.ontario.ca/mah/en/2012/06/ontario-strengthens-requirements-for-balcony-glass.html

While this initiative is an excellent start, Ministry of Municipal Affairs and Housing needs to address the inefficiencies of the New Home Warranty Program and Tarion Warranties for new construction and the limited 1-2 years warranties on existing buildings. These warranties do not protect the value of a $80 Million dollar condo building when the time period and list of coverages are similar to those of a single family dwelling. There needs to be a separate coverage to address multi-family residential condominium buildings. Continue reading →

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Posted in FYI, The Condo Act

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Maintenance Fees

Posted on October 27, 2021 by | Comments Off on Maintenance Fees

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 →

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Condos to Replace Princess of Whales Theatre

Posted on October 27, 2021 by | Comments Off on Condos to Replace Princess of Whales Theatre

Courtesy 680 News Toronto:

Theatre producer David Mirvish and architect Frank Gehry unveiled plans, Monday, to tear down the Princess of Wales Theatre and replace it with a new condo complex.

The complex will feature three 85-storey residential towers, a 60,000 square-metre art gallery called the Mirvish Collection, a new campus for the OCAD University, and retail space.

It will stretch along the north side of King Street West from the corner of John Street, across Ed Mirvish Way and east to the edge of the Royal Alexandra Theatre.

“These towers can become a symbol of what Toronto can be. I am not building condominiums; I am building three sculptures for people to live in,” Mirvish said.

The three condo towers will create one of the tallest structures in North America.

Mirvish said the project will be done in three phases and will take up to seven years to complete.

Have your Say about this.

Do you agree with tearing down The Princess of Whales Theatre?

  • No (60%, 3 Votes)
  • Yes (20%, 1 Votes)
  • Don't Care (20%, 1 Votes)
  • Undecided (0%, 0 Votes)

Total Voters: 5

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Posted in Condo Issues, Condo Property Management, documentary, FYI, The Condo Act

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Where is Accountability?

Posted on October 27, 2021 by | Comments Off on Where is Accountability?

Where is the Accountability?
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.

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