Covid-Virus with coins representing cash flow management during a crisis

How do I find out the current delinquent status of unpaid rent or condo fees for my property? [VIDEO]

Even at the best of times, cash flow management is key to the success of any business and investment. During crises like COVID-19, it’s even more important to establish good cash flow practices. From Magnum York’s analysis, in the first two tough months of the pandemic crisis, we’ve experienced a less-than-expected slight increase in defaults for tenant rent and condo fee collections. Investors and condo boards that have put aside our recommended three-months operating cash savings should be able to […]

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 Property Management Coronavirus Pandemic Response Covid-19

Magnum York’s Property Management Coronavirus Pandemic Response

PLEASE REFER BACK TO THIS PAGE for updated information on Magnum York’s response to the ongoing Coronavirus Pandemic. Index: Latest Update: March 29, 2020 March 19, 2020 March 13, 2020 Important Health, Industry & Government Links Latest Update: March 29, 2020 To say that there are a lot of moving parts to the coronavirus pandemic is a vast understatement. We’re doing our best here at Magnum York to stay up to date with how the government response impacts both our […]

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 […]

Magnum York Executive Team serving Alberta

Press Release: Magnum York Announces Two New Hires for Executive Team

Calgary, Alberta — February 7, 2020 — Magnum York Property Management Ltd welcomes Grant Kelba, Calgary Branch Manager, and Stephen King, Chief Customer Officer, to their company. Click here to download a press release in .PDF format “I’m excited to announce a few staff changes with Magnum York as we build a world-class team,” says Peter Best, CEO/Broker. “At the end of the day, we are a people-business; hiring exceptional staff helps us continue to provide outstanding service to a […]

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 […]

hometown hockey canmore home town hockey player goalie

Magnum York Sponsors Hometown Hockey in Canmore

  Sponsors Hometown Hockey: Magnum York Magnum York has been asked to be the title sponsor for the Canmore Hometown Hockey event and we are excited to be supporting the Bow Valley with such a great event. Hometown Hockey is in Canmore on February 10 and 11. The weekend will feature broadcast hosts Ron MacLean and Tara Slone, meet-and-greet opportunities with NHL alumni Ryan Smyth, Brendan Morrison and Lanny McDonald, live entertainment and engaging activities for the whole family. The […]