Ontario Condo Act Changes E-Book is now available for downloadLearn More

Breaking Down Ontario Condo Act Changes

Long awaited Ontario Condo Act Changes are here – what does it mean?

The province of Ontario has amended the Condominium Act and enacted a new piece of legislation called the Condominium Management Services Act.  These changes are the first improvements in over 16 years which introduce new condo authorities and regulations to enhance consumer protection.  Some of the benefits which were born out of collaborative efforts of condo owners, developers, managers and other experts over more than 18 months of review provided by the changes in legislation include:

  • Improve Communication between boards and owners
  • Mandatory Training for Condo Directors
  • Mandatory Education and Licensing of Managers
  • Consumer Protection
  • Simplify Access to Records
  • Enhance Owner participation in meetings
  • Streamlined Dispute Resolution

Changes to the Act will allow for flexibility and consumer input in a rapidly changing industry by permitting the development of regulations. This guide has been assembled in collaboration with Denise Lash Condo Law to explain the changes as we understand them prior to their implementation scheduled as early as November 1, 2017.  Our current customer can stay on top of new announcements through Director Connections.

Understanding how your home is insured…

Condo Insurance could possibly be one of the largest recurring expenses a condo corporation is responsible for.  It is put in place to protect the corporation for unexpected loss.

This guide has been put together to help condo Board of Directors, unit owners and property mangers understand:

  • What condo insurance is and basic terminology
  • Your responsibilities – Board Members and Unit Owners
  • How to make sure you are properly covered, getting the best value for your insurance fees
  • How to be prepared and what to do if a loss occurs
  • How to save money by mitigating losses

This comprehensive guide summarizes discussions of six recent webinars presented by the award winning insurance professional, Wendy Wildeman of Rogers Insurance for both Ontario and Alberta.

Larlyn is pleased to offer this valuable condo education making you a smarter member of the board of directors and homeowner, understanding how to avoid loss and save money!

 

Putting the pieces of the financial puzzle together:

Board of Directors need to understand the pieces of the puzzle provided by Property Management to ensure they are using fees collected from owners the best way possible for the corporation and are prepared appropriately for the future.

This guide breaks down the following:

  • How to Read Financial Statements
    • Why you need them
    • What’s included in a typical package
    • What information  each provides
    • Samples
  • The Budget Process
    • Why you need them
    • What’s included
    • Who does what
    • Special Assessment
    • Considerations when deciding to raise fees or not
  • Condo Reserve Funds
    • What funds are used for
    • How much should be kept in savings
    • Implications / Consequences of Board decisions

Download this informative read today to understand the financial tools provided to the Board of Directors.

 

Your home should be maintained and operated in such a way as to ensure that it delivers what you expect of it:  To be healthy and comfortable year round.

The single most important step to ensure the value of your home will appreciate while spending the least amount of money on maintaining and operating it is to understand that your House Is A System.

This guide was written for you:

  • To Save Money
  • To Improve Your Home
  • Make Your Family Safer, Happier and More Comfortable

Download this informative read today to understand how your home, its equipment and its occupants affect how your home is run and learn how and what to consider when making changes to maintain necessary balance.

 

Considering joining your building’s Board of Directors?

This guide not only covers the requirements and responsibilities of the position but also provides tactical techniques to effectively display your leadership skills and support.

In this free learning guide, you will learn:

  • What reasons people often choose to be part of the board of directors
  • If you are qualified for the position
  • What your obligations will be
  • How to have the right attitude for the job
  • How to create new member orientation for your board
  • How to run EFFECTIVE board meetings that discuss all the important matters
  • Successful budgeting practices.

This 27-page E-Guide is a great read for an aspiring Board Member, a new board member, or someone who’s evaluating if becoming a board member is the right role for them.

We hope you enjoy it!

 

This guide is a straightforward look inside the role of a Property Manager and the importance of hiring someone to keep your building running smoothly.

Inside this free learning tool you’ll learn:

  • The difference between managing Condo/Strata Corporations, Revenue Generating Properties, New Developments and Start-Ups
  • Common responsibilities of Property Managers for each type of property
  • The 7 characteristics that make GREAT property managers

Download this engaging read today to better equip your property for success!

 

Moving your life to a different home can be a daunting task, whether it involves relocating to a brand new city or simply a building down the street. Our easy-to-read guide will walk you through every step of the moving process, from packing to getting comfortable under your new roof.