Blog
What Is the Purpose of Paying for the Common Expenses in a Condo?
In a condo, all co-owners are required to pay for their share of the common condo expenses, also known as condo fees. Generally payable monthly, these fees are used to deal with all the expenses and fees related to the condominium and the building. They must be paid...
Bill 141: Which new obligations do the co-owners have to fulfill?
The adoption of Bill 141 concerning condominiums and Bill 16 have introduced new obligations for condominiums and co-owners, with several effective dates. Bill 16 tends to integrate the aging of buildings to take the necessary measures for the preservation of...
How Are Condo Maintenance Fees Calculated?
Any co-owner who owns one or more lots in a condo is required to pay condo maintenance fees. And contrary to popular belief, they are not proportional to the living area, because other criteria come into play to determine the method of fee distribution between the...
3 Responsibilities of the President of a Condo Syndicate Council
The council plays a prominent role in managing a condominium. And the responsibilities of the president of a condo syndicate council—appointed or elected from among the members of the council—are multiple: in effect, this key person in the condominium has the complex...
Bill 16: What Are the Implications?
Following a detailed study, Bill 16 was endorsed on January 10, 2020. This in-depth reform primarily targets three objectives: taking the aging of buildings into account and implementing the necessary measures for their preservation; protecting the buyers of...
Is a condominium maintenance logbook mandatory?
The mandatory condominium maintenance logbook is a register in which the building’s entire history is recorded and which is essential to the condominium’s life. It contains both all the operations performed and those to come. The condominium maintenance logbook is...
When Is a Condo Syndicate Mandatory?
A condo syndicate is a legal entity made up of all the co-owners whose mission is to oversee the maintenance and administration of the common areas. A condo syndicate is mandatory when a building is co-owned. Co-ownership and the mandatory condo syndicate A...
What is the purpose of the condo management fees?
The expense statements of a building show the various expenses related to its maintenance and management. While the cleaning items in the common areas or the elevator maintenance costs are easily understandable, many condominium owners do not have a clear idea of what...
Example of Maintenance Logbook for a Condo
A register retracing the history of the building. The management and maintenance logbook is essential to the life of the co-ownership. And includes all the interventions already carried out or to be planned in the building. It reflects the concern for sound management...
Why contact and hire a Property Manager?
You have invested in real estate assets and you wish to enhance and optimize the return on this investment. This seems coherent, but it is not as simple as that... While it is possible to a certain extent to manage financial investments yourself from your personal...