Tuesday, March 11, 2014

Ontario Condominium Review

Condominium Owners and Investors just want responsible leadership and management. You want to be informed, and uninvolved yet be a transparent process. So you elect a Board of Directors.

You don't want to hear about WorkPlace Health and Safety Issues, Insurance Claims being chrged back to specific units or Requisition Meetings.  Just Keep maintenance Fees [low] stable.  

Me:  Do you attend your annual Condo Board Meetings?   Why is there so much FIGHTING?   Is it lack of understanding or lack of explanations?
Resp: You presume people want to know. The reality is most people don't want to know. They want someone else to deal with it all.
Me:   How can we help to better understand condo rules and budgets?
Resp: They have a problem when they hear conflicting opinions because they don't want there to be potential issues raised.
Resp: If there are real, legitimate issues, people want to ignore it.
Resp: I went through the ringer when I purchased my Condo & dealt with incompetence. 

Owners want responsible leadership and management.  They want to be informed, and uninvolved yet be able to see a transparent process.  They want a guaranteed return on their investment.

The Provincial Gov't has finished its 3 stage review of the Condominium Act that was being worked on since Fall 2012 and are now drafting the new Act. Some vast improvements in the works...


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