According to a recent study by TD Insurance, 47% of Canadian tenants under 35 do not have renter’s insurance.
Continue Reading Study: Young tenants aren’t carrying insurance
repair costs
On further thought . . . Reversing earlier board decisions
A recent decision of the Ontario Small Claims Court tackles the interesting issue of whether and how condominium boards can reverse earlier decisions in maintenance and repair scenarios.
Continue Reading On further thought . . . Reversing earlier board decisions
“Do you want a loan with that balcony retrofit?”
Daily Commercial News reports on a trend emerging in response to the deteriorating physical and financial condition of older condominiums — "lender tenders."
The article cites a report by GRG Building Consultants showing that condominiums built in the 1970s are in worse shape today in terms of their building envelope and structure compared to complexes built in the 1980s and 90s. Moreover, increasingly stringent reserve fund requirements in the Condominium Act since the 1980s have created a financial gap between condominiums built in the 1970s and those constructed afterwards. The 1970s condominiums are less likely to have a properly-funded reserve to pay for major repair and replacement of the common elements than condominiums constructed since then.Continue Reading “Do you want a loan with that balcony retrofit?”
Educate owners about insurance today
Today’s entry discusses the critical importance of educating unit owners about the need to obtain adequate insurance for themselves, and offers a number of suggestions to help spread that message effectively.
Continue Reading Educate owners about insurance today