As Barrie rapidly expands, so does the pace of new condominium developments. Condo living is an attractive lifestyle to many, however it is important to understand that condos should be properly run. You should have high expectations as a unit owner, and having a professional condominium management company in place can ensure those expectations are met. Make sure your property manager is up to speed on the following changes to the Condo Act that recently occurred:
• Mandatory licensing of managers
• The new Condo Tribunal
• Periodic Information Certificates
• Board meetings by electronic means
• AGMs: Advance Notices of owners meeting and reduced quorum
• New voting methods and new proxies
Having the right condominium property management firm in place is essential to the successful operation of any condominium corporation and will ensure proper maintenance of the building. It will ensure the declaration, rules, regulations and by-laws are adhered to and are in accordance with the Condo Act. It’s also extremely important to protect your investment and understand the importance of the reserve fund to prepare for upcoming major repairs and replacements and avoid any unexpected special assessments.