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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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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. Reduce administrative costs Administrative costs are any expenses incurred to maintain day-to-day operations of the condominium. Software reduces paper usage Admin work requires a lot of documentation. But this year is different.

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

Condo Control

Owners living in California can elect directors and amend governing documents using electronic secret ballots as of January 1, 2025. Amendments were made in 2024, requiring condominiums with 25 or more units to have a website. HB 1203 makes it clear that HOAs need a website, just like condominium communities.

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Florida HOA Laws 2024: Updates And Changes

HOA Managememt

These bills affect both homeowners associations and condominium associations. This certification confirms that they have read the association’s governing documents, will uphold them, and will faithfully carry out their duties. They must also complete a state-approved condominium education course.

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Is being ethical part of a board member’s responsibilities?

Condo Control

Encouraging ethical behavior in your community Promoting ethical behavior within a condominium or HOA requires a strong commitment from board members to uphold ethical standards. A formal written document serves as a reference point for all board members, ensuring they are aligned with the communitys values and expectations.

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HOA Collection Laws In The U.S. (50 States) For Fair Debt Collection

HOA Managememt

Most debt collection practices are governed by state law, and your specific homeowner’s associations governing documents tackle the process. Many HOAs have already meticulously outlined the process in their governing documents. Michigan HOA collection laws in Michigan primarily include the Michigan Condominium Act (MCL 559.208).