What Do Condominium Fees Pay For

What Are Condominium Fees?A condominium requires each unit owner to pay a certain amount of fees each month. This monthly fee is utilized for any development or maintenance purpose at the condo. First time condo buyers are often unaware of what these condo fees consist of and combined with their property tax and mortgage payments, […]

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What Is The Difference Between Condo Strata HOA and Co-Op Associations

Are There Any Major Differences Between These Terms?People who aren’t aware of the differences between these terms often use them interchangeably. In essence, these terms actually hold a different meaning altogether and people who are interested in buying a dwelling in any one of these associations should have the core understanding of these terms.For the […]

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How to Hire a Good Condo Property Manager

Did You Hire The Right Condo Manager?The board of directors of a condominium may consider hiring a property manager to overlook the daily operations of the condo. A property manager is entrusted with the task of collecting common condo fees, keeping the operating records of the condo, responding to any complaints from owners and monitoring […]

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What Are The Responsibilities Of A Condo Board Treasurer?

What is the Condo Board Treasurer Responsible For?Success of a homeowners association lies in the hands of the board of directors. Strong boards of directors carry out proper planning and execute those plans on a timely basis to ensure well-being of the home owners and residents in a condo. The management of finances of the […]

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How To Manage Special Assessments

Condominium Special AssessmentsThe most hated words discussed by Boards or Condominium Managers. The ugly truth is that Special Assessments are becoming more and more common. An Special Assessment can be assessed for either Operating or Reserve Fund expenses. The Condominium Property Act of Alberta mandates that the Board is responsible for assessing fees to run […]

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