Managing a condominium’s money is one of the most important duties condo boards have. It includes preparing annual budgets, maintaining reserve funds for major repairs and emergencies, and controlling day-to-day expenses. Good financial management is essential to protect the corporation’s assets and ensure the long-term success of the community.  However, even the most well-intentioned boards … Read more

Just like houses, conducting regular condo inspections is the most effective way to protect the corporation’s assets, preserve the property’s value, plan for future maintenance and prevent costly repairs, ensure resident safety, and ensure that the community’s daily life and use of the common areas and amenities are enjoyable for everyone.  And in Calgary, inspections … Read more

Condo board meetings don’t have the best reputation, with dull, useless and a waste of time among the most frequent adjectives to describe them. But despite their notoriety, board meetings are an essential part of a condominium’s effective governance and are the moment when some of the community’s most important decisions are made: From approving … Read more

Condo boards eventually face this question: “Should the community stay self-managed, or should they hire a professional condo management company?” While many opt for self-managing to keep operative costs low and full control of administrative affairs, these aren’t the only tasks that make a condo run efficiently, and the responsibilities can pile up quickly as … Read more

When buying a condo in Alberta, you’re not just getting a place to call home or earn revenue by renting it out; you’re joining a shared community with unique responsibilities and costs. One relevant financial consideration of condo ownership is the monthly fees to maintain and repair the shared areas and amenities within the complex.  … Read more

Self-managing a condominium can be time-consuming and overwhelming, especially in mid-size and larger condo communities. From long meetings and administrative tasks to addressing owners’ and residents’ concerns and conflicts, keeping up with the to-do list of things needed to make a condo a safe and comfortable community for all its inhabitants is almost impossible for … Read more

For condominiums who have a budget year that begins in January, December is the time that owners get a notice stating what the new condo fee will be. That number can be the same as the previous year, but often, that number goes up, and with market pressures and inflation, this year that number may … Read more

An important change is coming to Alberta condo law. The Alberta Government has introduced Bill 19 The Condominium Property Amendment Act, which aims to improve efficiency and reduce financial risk for condo corporations. Here are some of the major changes that have been announced and how they impact you. Chargebacks Typically in a condominium, if … Read more