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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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Finding the Perfect Multifamily Property

American Apartment Owners Association

Multifamily refers to properties, such as apartment complexes, condominiums, townhouses, semi-detached units and duplexes, all of which offer multiple spaces for rent. When buying a rental property, there are local price trends, zoning rules and vacancy rates to consider in addition to financing and renovation costs.

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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. Chatbots Chatbots can be installed on a condominiums website to answer basic questions from prospective buyers or residents.

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

Condo Control

If there are insufficient funds in the reserve to cover the cost of repairs, the bill authorizes an association to obtain competitive financing to commence repairs or replacements without a vote, and to levy an emergency assessment to repay the loan if certain conditions are met. Milestone inspections must continue every 10 years thereafter.

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

Condo Control

Transparency Transparency involves openly sharing information about activities, finances, and decisions. 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.

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The Corporate Transparency Act – should your association wait to file a report?

Condo Control

The Corporate Transparency Act (CTA) aims to help detect and combat money laundering and terrorist finance, facilitate tracking money that has been sourced through criminal or terrorist activity, and safeguard national security and the U.S. financial system. Why are condos and HOAs expected to file a report?