Think About Preparing a Chart of Repair and Maintenance Responsibilities

In some condominiums, it can be tricky to decipher the division of responsibilities between the owners and the corporation – particularly when it comes to repair and maintenance of electrical and mechanical features (like HVAC equipment, fans, ducting, plumbing, wiring, electrical panels, etc.). Continue reading “Think About Preparing a Chart of Repair and Maintenance Responsibilities”

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The Crisis in Condominium Insurance

I think it’s fair to say that condominium insurance (insurance obtained by condominium corporations) is currently in crisis. Insurers have been dropping out of the market. Premiums are dramatically increasing. Deductibles are dramatically increasing. And some condominium corporations are even having trouble obtaining insurance. [There are condominiums in Ontario and BC that are simply not able to get insurance. At least one condominium has an annual premium of $1,000,000! At least one condominium has a $1,000,000.00 deductible!]

Is there an answer? Continue reading “The Crisis in Condominium Insurance”

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