Changes to Condominium Act

Changes to Condominium Act

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.

Why You Should Hire a Property Management and Leasing Firm

Whether you have a residential, commercial or industrial property, hiring a property management firm in Barrie is an essential component of turning your real estate investment into a financial success. Professional property management firms are well versed in their industry and can improve the quality of a property by utilizing their vast wealth of industry knowledge. While it may be tempting to manage your own property, consider the following reasons why you should hire a property management firm. Continue reading “Why You Should Hire a Property Management and Leasing Firm”