Posts tagged Condo Corporation
How Much of Your Life is Spent Waiting in Elevators?

If you live in a high-rise condo, you know all too well the problems that can arise when one or more elevators go out of service! 

But how much of your day & life is spent waiting for these elevators?

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How to Avoid a Special Assessment in Your Toronto Condo

The words “special assessment” bring goosebumps to many condo owners & with good reason! These additional fees can appear to come out of nowhere if you don’t approach your condo purchase properly & do your homework on the building!

A special assessment occurs when there are repairs that need to made to a condo building but the existing reserve fund doesn’t have enough cash on hand to cover the expense. As a result, owners are left with an additional lump sum that they must pay to cover the costs.

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What Is “Exclusive Use” In A Toronto Condo?

When buying a condo, you will get inundated with a ton of new terms that relate to the ownership, rules & regulations of the building, many of which you probably have never heard before! 

One of these elusive terms used is “Exclusive Use”. This refers to the exclusive use common elements, which are elements only used by you while not actually being owned by you. 

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What Does Your Condo Declaration Mean?

If you own a condo, your Condo Declaration is one of the most important documents that you need to review as it contains all of the information regarding your suite & the building itself

Things like the boundaries of your condo suite & rules regarding pets, noise and what changes can be made to the unit with regards to physical alterations are outlined.

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