REMI

Financial Management

Loan conditions onerous for condo projects

Loan conditions onerous for condo projects

Loan conditions are expected to be onerous for residential condominium developments again in 2025, following a year when many lenders pulled back on construction financing.
retaining staff

Tips for retaining condo staff and avoiding turnover

A high turnover rate disrupts the belonging that residents strive to foster, incurs unnecessary costs associated with recruitment and training, and may be an indication of a culture gone wrong.
owners

How to avoid ambushing owners with difficult news

An all-too-common occurrence at owners’ meetings is the surprise residents feel when financial shortfalls for major capital repair projects are up for discussion. Some would
shared facilities

The pitfalls of shared facilities agreements

A shared facility agreement is often a quagmire of legal mumbo jumbo that is next to impossible to interpret.
condo

Expanding condo board oversight

Bringing the condo governance disputes into the CAT’s jurisdiction as per the standing committee’s recommendations would be an altering change of the Act’s self-governance model.
aging

Anticipating the needs of aging condo communities

New updates to the OBC, which come into effect January 1, 2025, do little to address accessibility. How can existing condos prioritize inclusion when planning for renovations?
employment

Five reasons to review employment contracts

Outdated employment contracts expose condo corporations to financial and legal risks they could otherwise avoid.
condo

Eco-friendly condo upgrades

Reaching net zero by 2050 means sustainability targets for new and existing condo buildings will need to change quickly.
Vacant residential land stirs surtax rumblings

Vacant residential land stirs surtax rumblings

The Canadian government is exploring options for a surtax on vacant residential land through a newly launched public consultation, which is open for submissions until December 31, 2024.
reserve funds

CAO releases report on state of reserve funds

The Condominium Authority of Ontario has released preliminary findings on the state of reserve funds and owners’ awareness of their importance.
water leaks

Managing water leaks 101

The causes of water leaks are often related to materials, installation, maintenance and operational issues.
Short-term rental registry stuck in manual

Short-term rental registry stuck in manual

Toronto relies heavily on manual review processes for oversight of approximately 8,400 registrants currently approved to offer short-term rental accommodations in their principal residences.
security

Legal case puts spotlight on condo security

In a recent case, a condominium found itself at the centre of a significant security challenge posed by a resident.
emergency

Initiative seeks to close emergency response gaps

The Peel Regional Police Service is one jurisdiction that is leading a program that focuses on high-rise safety and resident well-being.
independent contractors

Tips for hiring independent contractors

With costs on the rise, many condominiums are choosing to retain independent contractors to provide superintendent and/or cleaning service.
spring maintenance

Spring maintenance for newly built homes

A deep clean and thorough inspection are extra important for newly built homes during the spring season to help identify and address any damage or defects.
plumbing

Keeping plumbing maintenance from plummeting

As time and usage take its toll, plumbing systems deteriorate and improper and deferred maintenance lead to disastrous results.