What Is The Difference Between a Condominium Board and a Property Manager?

In this series, we discuss various facets of Condominiums in the Collingwood, Blue Mountains, Meaford, Wasaga Beach, Clearview and Grey Highlands areas.

Condo Information for Collingwood, Blue Mountains, Meaford, Grey Highlands, Clearview and Wasaga Beach

Condo Information for Collingwood, Blue Mountains, Meaford, Grey Highlands, Clearview and Wasaga Beach

Management

Under the direction of the Board of Directors, a condominium’s day to day operations are run by a Property Manager or Property Management firm.  They look after such things as collecting and distributing the common expenses, dealing with contractors, or arranging meetings.  They act on the instructions of the Board of Directors.

Governance

Depending on  the bylaws of the Condo Corporation, the Board of Directors may or may not be owners of a unit within the condo complex.  A member of the board usually has a multiple year term (3 year terms are common) and once the board is elected by the unit owners, the positions within that board are determined by the Board of Directors.

The Board of Directors make policy decisions which will directly influence the use of the common elements and what an owner can do with their unit.  Condo owners should keep well-informed about their corporation by reading any information that is distributed to them, understanding the rules and regulations, and by attending any meetings which are called from time to time.  Sometimes, decisions made by the Board of Directors are their sole responsibility, but other decisions must be approved by a vote of the owners.

An excellent resource all condominium owners should read is the Condominium Act, 1998 which governs all residential and non-residential condominiums in Ontario.

Related Posts:

Part 1- What is a Condominium?
Part 2- What Is A Condominium Status Certificate?
Part 3- What Is A condominium Reserve Fund?


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About Marg

is an award-winning real estate Broker who has successfully been helping people move since 1989. When it’s time for a move in or out of a bigger, smaller, better, more expensive, less expensive, newer, older, house, condo, farm, investment property, vacant lot or business, talk to Marg.

This entry was posted by Marg on Monday, April 2nd, 2012 at 5:26 am and is filed under Condominiums. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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