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Reserve fund requirements for Canadian condominiums and stratas

Condo Control

Not only is it easy to get to, but condominium units were plentiful and very affordable. While there are some exceptions to reserve fund requirements, most condominiums are required to have studies completed by a professional at least once every 5 years. Florida has historically been considered an ideal state to purchase a winter home.

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How do license plate readers work in condominium buildings?

Condo Control

That being said, license plate readers can be effective access control solutions in condominium parking garages. Table of contents How do automated license plate readers work How are LPR systems used in condo buildings? The condominium must consider costs, make a maintenance plan, and determine who can review footage.

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New Florida laws for summer 2025: Is your condo impacted?

Condo Control

Although summer is a great time for a bit of rest and relaxation, Florida condominiums have some work ahead of them. Note that this bill is directed at condominium and cooperative associations. House Bill 913 , also known as the 2025 Reform Bill, came into effect July 1. The location must be provided in the association’s bylaws.

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Is now the time to buy a condo in Toronto?

Condo Control

But, making such a large purchase always comes with risks that need to be evaluated. The price is right It’s still a stretch to say that Toronto condominiums are affordable, but prices are certainly more reasonable now than they were 3 years ago. Q1 2025 condominium sales amounted to 3,794 in the GTA, down 21.7%

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5 ways for high rise condominiums to save money in 2025

Condo Control

Densely populated high rise condominiums have always been budget conscious. In order to avoid angering residents by issuing hefty special assessments or maintenance fee increases, boards and managers are doing what they can to offset the high cost of maintaining a condo. But this year is different. million for a 300-unit building.

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How to increase the annual budget while making your condominium more bike friendly

Condo Control

Would you consider your condominium to be bike friendly? of bike amenity space into their new condominium. Bike racks dont require too much maintenance, so those annual payments will add up over time. If youre not a cyclist, you may have not given this question much thought before. One developer is incorporating over 7,000 sq.

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Reserve study requirements by state

Condo Control

Motivated by the Surfside condo collapse, lawmakers don’t ever want to see another community in the same position as the Miami condominium ended up in. Condominium disclosure statements must include the current balance in reserves, and the most recent reserve study, states Section 81-409.