Connect with us

Headlines

Ousting a condo board president requires majority support

Published

on


A leak from my ensuite shower caused damage to the ceiling of the unit below. The condominium hired a plumber and the corporation charged me for the cost of the plumber. A bylaw of the corporation states that the owner of the unit where the cause of damage to another unit originates will be responsible for the cost of repairs up to the amount of the deductible in the corporation’s insurance deductible. Was the back charge proper?

The Condominium Act makes an owner of a unit responsible for the cost of repairs to another unit, up to the amount of the corporation’s insurance deductible, if that owner caused the damage by an act or omission.

The Act provides that a declaration may alter the circumstances under which the amount will be added to the common expense contribution for the owner’s unit. The provision rendering an owner responsible for the cost of the repairs of damage that originated in that owner’s unit was contained in a bylaw and not in the declaration and is therefore not valid.

As well, please note that you are only responsible for the cost if you caused the leak by an act or omission. You are not responsible simply because the cause of the damage originated in your unit as stated in the invalid amendment.

Some of the owners in our condominium want to remove the director who serves as the board president. If we cannot get the owners of at least 50 per cent of the units to vote for removal, must we wait until the director’s term is up in order to replace him?

If you can’t get sufficient votes to remove the director, he will remain in office until his term is finished. He may then decide to stand for re-election, in which case he could be defeated by another candidate for the available position.

Our board passed a new rule that does not allow smoking tobacco or cannabis in our suites or in the common elements. All owners received notice of the rule. But it was not sent to residents who are not owners, nor was it sent to the condominium staff. The condominium staff will not enforce the rule. Is that acceptable?

Section 119 of the Condominium Act provides that an occupier of a unit shall comply with the Act, the declaration, the bylaws and rules. Sub-section 58(6) of the Act requires the board, upon making a rule, to give notice of it to the owners.

The board is not required to send the notice to unit occupants who are not owners. But the unit occupants must comply with the rule, even without having received the notice. Sub-section 17(3) requires the corporation to take all reasonable steps to ensure that the occupiers of the units comply with the rules. The condominium corporation, therefore, must take all reasonable steps to ensure compliance with the new rule by unit occupants.

Gerry Hyman is a former president of the Canadian Condominium Institute and contributor for the Star. Reach him on email: gerry@gerryhyman.com



Source link

قالب وردپرس

Headlines

Affordability driving demand for condos in Toronto

Published

on

By


The Greater Toronto Area (GTA) saw higher sales and demand for condominium units due to increasingly affordable prices.

Data from RE/MAX revealed that the GTA accounted for nearly 37% of the total residential sales on the Toronto Real Estate Board (TREB). Market share for this segment has been tracking higher since 2013, when the transfer of condominiums covered 30% of total sales.

Seen as the only property segment that rose above the 2017 market correction, the average price of a condominium apartment hiked almost 8% to $551,761 between January and October 2018, up from $512,552 during the same period in the previous year. Townhomes prices were at $571,058, compared to $568,165 in 2017. Meanwhile, prices of freehold properties, including single-detached, semi-detached, attached/row/townhouse, and linked townhomes fell year-over-year.

Despite the rising values, these home types are well-received because most Canadians still found it affordable and a sound choice for investment.

On the other hand, it was pointed out that the increased demand for condo apartments and townhomes was driven by immigration, population growth, and lifestyle choices. 

“Aging infrastructure, combined with a lack of transportation alternatives, longer commute times and the environmental component — with efforts to reduce carbon footprint — have all played a role in buyers choosing condominiums in Toronto proper that are close to both work and play,” RE/MAX noted in a statement.

The most popular area for condominium sales was still the downtown core, with 21.9% sold in the area bordered by Bloor Street to the north, the Lakeshore to the south, the Don Valley Parkway to the east and just past Dovercourt Road in the west.

However, supply remained low, which pushes prices higher.

“Limited inventory continues to place substantial upward pressure on prices, with fewer affordable housing options available — and that includes condominium rentals,” said

Christopher Alexander, executive vice president and regional director at RE/MAX of the Ontario-Atlantic Canada Region.

As a result, buyers tend to avoid the higher prices in the core and turn to condominium communities farther afield instead.

Currently, almost 51% of condominium sales in the GTA are below the $500,000 price point, but it is worth noting that builders and developers are currently facing skyrocketing construction costs and a land crunch within the GTA.

 

Related stories:
Revival of investor immigrant program stirs academic discussion
BC enters $1B deal to provide affordable homes

 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate




Source link

قالب وردپرس

Continue Reading

Headlines

App matches you with the perfect real estate professional

Published

on

By


Real estate matchmaking platform Mortgage Sandbox recently beta launched a free web-based app called Match Finder in the Vancouver market. The app was conceived as a way for buyers to connect with suitable professionals that can help them find their perfect home.

“The beta program is dedicated to gathering feedback from users so that we can improve the product while rewarding participating home buyers and real estate professionals with better working relationships at no cost,” said David Stroud, founder and CEO of Mortgage Sandbox.

Similar to an eHarmony questionnaire, Match Maker asks 10 simple questions to match home buyers with three trusted, pre-screened real estate agents and mortgage brokers. Users can then make their selection to start their home-buying process.

The app was envisioned to provide a better home buying experience for all parties involved. Match Maker is a secure, cloud-based application that also provides real-time interest rates and property forecasts. It has advanced home buying calculators and can be used on a laptop or a smartphone.

“The tools are part of Mortgage Sandbox’s ongoing commitment to build the most complete home buying advice platform on the market,” said Stroud.

Stroud emphasized that Mortgage Sandbox tapped into the real experiences of Canadian homebuyers and real estate professionals to properly address issues that are encountered when purchasing homes.

“We’ve designed an easy to use, data-driven, matching tool that connects you with local, pre-screened real estate professionals who share your interests, values, and have a complementary work style,” said Stroud.

“We believe aligned values lead to better working relationships and a more successful home buying experience.”

 

Related stories:
Revival of investor immigrant program stirs academic discussion
BC enters $1B deal to provide affordable homes

 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate




Source link

قالب وردپرس

Continue Reading

Headlines

App matches you with the perfect real estate professional

Published

on

By


Real estate matchmaking platform Mortgage Sandbox recently beta launched a free web-based app called Match Finder in the Vancouver market. The app was conceived as a way for buyers to connect with suitable professionals that can help them find their perfect home.

“The beta program is dedicated to gathering feedback from users so that we can improve the product while rewarding participating home buyers and real estate professionals with better working relationships at no cost,” said David Stroud, founder and CEO of Mortgage Sandbox.

Similar to an eHarmony questionnaire, Match Maker asks 10 simple questions to match home buyers with three trusted, pre-screened real estate agents and mortgage brokers. Users can then make their selection to start their home-buying process.

The app was envisioned to provide a better home buying experience for all parties involved. Match Maker is a secure, cloud-based application that also provides real-time interest rates and property forecasts. It has advanced home buying calculators and can be used on a laptop or a smartphone.

“The tools are part of Mortgage Sandbox’s ongoing commitment to build the most complete home buying advice platform on the market,” said Stroud.

Stroud emphasized that Mortgage Sandbox tapped into the real experiences of Canadian homebuyers and real estate professionals to properly address issues that are encountered when purchasing homes.

“We’ve designed an easy to use, data-driven, matching tool that connects you with local, pre-screened real estate professionals who share your interests, values, and have a complementary work style,” said Stroud.

“We believe aligned values lead to better working relationships and a more successful home buying experience.”

 

Related stories:
Revival of investor immigrant program stirs academic discussion
BC enters $1B deal to provide affordable homes

 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate




Source link

قالب وردپرس

Continue Reading

Chat

Trending