BFL Canada and Magnum York Insurance Seminar

Why are Alberta Condominium Corporation Insurance Premiums Increasing?

In early March, we invited our condo boards in Calgary to come out and hear the latest on insurance renewals. The insurance industry worldwide has been reacting to a perfect storm of too much risk and too many claims; it’s made them unprofitable in their property insurance business. Thanks to our friends at BFL Canada for their research and partnership. For every $1 collected in premiums, insurance companies paid $1.67 in claims. Based on our partner BFL Canada’s data from […]

Magnum York Alberta Judge Bans AirBnB VRBO Condominiums

Alberta Courts Rule Against AirBnB & VRBO Short-Term Rentals in Condominiums

On February 27, 2020, the Alberta courts made a decision that prevents condominium owners from using their units as short-term rentals for websites like AirBnB & VRBO. Owners who use those services to get short-term “renters” are considered the same as running a hotel. Condominium’s that have bylaws that prohibit a unit’s use for commercial use are able to ensure owners cannot have short-term renters in their property in exchange for consideration. Interested in reading the judgement? Click here. This […]

Auburn Rise Phase 3 Building Construction Logel Homes Magnum York Property Management

How does a Condominium Builder Transition Their Properties to the Condo Owners & Board?

Property Managers are vital partners for condo building developers. A property manager’s key role is to ensure a smooth transition of ownership to condo owners from the developers as they take possession of their individual units and form their first condo board. This morphs into working together with the board on an ongoing basis to continue to maintain its brand new building and ensure proper corporate governance. Auburn Rise Phase #3 Opening in Calgary Congrats to our partner Logel Homes […]

BFL Canada & Magnum York present condo and landlord insurance seminar in calgary

BFL Canada Insurance Seminar for Condo Corporations & Landlords in Calgary, March 3

Along with our partner, BFL Canada, we’re excited to present a seminar on the current market conditions affecting insurance premiums, deductibles, and coverages. “Current Insurance Market Conditions and how this is affecting Corporation and Landlords.” This is an exclusive presentation for Board Members and Landlords of Buildings professionally managed by Magnum York Property Management Ltd. When: Tuesday, March 3, 2020 For: Magnum York clients — Condo Board Directors, Investment Owners & Landlords. Time: 6:30 pm – 8:30 pm Where: Best […]

Condominium Protect Act Bill 9 CPA Jan 1 2020 changes impact all Alberta Condo owner and board directors Magnum York

How do Jan 1, 2020 Condo Act Changes in Alberta impact owners and condo boards?

Alberta Condo Property Act Changes from 2019 to 2020 are outlined in this post. First, we will provide an overview. Alberta Condo Act changes include: Insurance deductible assessment changes. Insurance premium increases and what condominium corporations and owners can do in response An exemption for changing corporation bylaws so they do not conflict with updated condominium legislation, effective January 1, 2020. A requirement for notice before rules come into effect; enforcement of rules and bylaws; and notices regarding non-compliance and […]

how to make your condo board great again condominium

Take your Condo Board From Good to Great

    Let’s say you and your condo board are doing pretty well. You meet regularly and communicate decisions effectively. Your finances are on the up-and-up, and your building doesn’t seem to be falling apart. Things are… good. But maybe thoughts of a flooded parking garage keep you up at night. Or the windows and doors are starting to show their age, or maybe the owners are feeling strained by an unexpected special assessment. Maybe things are good now, but […]

DDC Journal: The Power of Exceptional Service-5001

DDC Journal: The Power of Exceptional Service

  We are very excited to announce that Magnum York has once again been published in the DDC Journal! You can find the full article on page 42 of the Spring 2017 issue of the Magazine. “The Power of Exceptional Service”   http://www.ddcjournal.com/issues/spring2017/   Or you can read the article below. It is all about Magnum York’s attention to customer service, the vendor program, and our online portal system. Thanks to DDC for the fantastic write-up.   The Power of Exceptional Service Alberta’s […]

6 Superb Ways to Make Sure Your Condo Property is Safe-4886

6 Superb Ways to Make Sure Your Condo Property is Safe

While it may not need to be expressly stated that condo safety is important, it is something that many people take for granted. It’s easy not to think about what could be going wrong with systems and pieces of equipment that aren’t in plain sight. “Out of sight out of mind” is an apt description for many owners, but not taking an active role in safety can lead to disastrous results. It’s easy to blindly roll along without giving a […]

We Had one of the Most Difficult Condo Board Members-4881

We Had one of the Most Difficult Condo Board Members

Condominium boards play a very important role in maintaining the standards and operations in communities. For an efficient management of the communities they belong to, the board members need to operate as a unitary group. But when individuals with diverse backgrounds, experiences, personalities, perspectives, beliefs and sets of skills work together, disagreements inevitably arise. Depending on how differences are managed, they can morph either into constructive debates or disruptive conflicts. Since disruptive divergences can damage relationships, and lead to division […]

What No One Tells You About Condo Insurance-4843

What No One Tells You About Condo Insurance

Insurance is one of those things that most people take for granted. As long as we know it’s there then it is bound to save whatever it is that we are paying for. This, in part, is true, but it’s not the whole story. Having comprehensive insurance is an extremely important aspect of owning a condo, renting a condo, or owning multiple condos or even a building. Knowing what that insurance includes, and perhaps more importantly, what it doesn’t will […]