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Communities facing rising umbrella liability rates

Mem Property Management

As property insurance rates are somewhat stabilizing in 2022, umbrella liability rates continue rising for common interest communities. A new phenomenon has emerged that is the result of a dramatic rise in litigation, along with astonishingly large payouts for bodily injury claims, also referred to as “nuclear verdicts.”

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Is now the time to buy a condo in Toronto?

Condo Control

In 2022, the average asking price of a new condo in the Greater Toronto and Hamilton Area (GTHA) peaked at nearly $850,000 ! If you’re interested in a resale unit, tour the property, understand what is included in the purchase price, and review the condo corporation’s governing documents before you buy.

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New 2025 condo and HOA laws for U.S. states

Condo Control

Senate Bill 4-D was signed into law in May of 2022 as a response to the Surfside condominium collapse. Owners can add an ADU and sell it as a second living space An HOA owner may add an Accessory Dwelling Unit to their property, and may be able to sell it to someone else if certain requirements are met.