Be on the Same Page: Communicate Perfect Condo Goals-3945

Be on the Same Page: Communicate Perfect Condo Goals

As with any corporate meeting, your condo board meeting should be where members accomplish meaningful tasks through effective decision making. So how do you Communicate Perfect Condo Goals? Your board meeting will best serve that function when everyone keeps these purposes in mind: Know your responsibilities as a board member; what is the board responsible for overseeing/implementing/enforcing/resolving? Understanding primary concerns and issues Avoid conflicts of interest and understand the liability involved Be familiar with the corporations bylaws; Specifically sections on Board & Owner responsibilities, as well […]

Investing in property across Alberta? Magnum has you covered-3865

Investing in property across Alberta? Magnum has you covered

When a “nothing-special” bungalow recently sold to a Chinese university student for a million dollars in the north end of Toronto, people started taking a harder look at how foreign investment in Canada’s real estate market is affecting the market in general and their personal chances of obtaining reasonable access to affordable property in specific. Apartments and condos are being snapped up left and right in our cities, often by foreign investors, and the prices are being driven up in […]

The Most Efficient Condo Boards of All Time Do This-3823

The Most Efficient Condo Boards of All Time Do This

A condominium is a community and, like all communities, some are run more smoothly and efficiently than others, and each is unique within itself. A condo is also a corporation and, like other corporations, is governed by a Board of Directors according to the corporation’s by-laws. In the case of condominiums here in Canada, governance is also required to conform to applicable provincial legislation. Proper property management can be an important factor in the ongoing health of a condo community, […]

What is the Value of $440K?-3814

What is the Value of $440K?

The average price for homes sold across Canada in March of 2015 was $439,144. The most notable rises in list pricing came out of Vancouver at 7.2%, Toronto at 7.8%, and the Northwest Territories at a whopping 14.7%. So what is Real Estate Value like in Canada? At a national average cost of $440K, what exactly will that buy in Canadian real estate? Where is the best value for your dollar? Coming in below the $440,000 price point are: Summerside, PEI […]

green house monopoly property risk

Could You be at Risk?

  According to insurance experts, there are 6 main misconceptions regarding home owners and their insurance policies.   30-Day Vacancy Rule: The refusal of coverage from your insurance company if your property remains vacant for over 30 days. Jewelry Coverage: Theft or loss of jewelry is only covered to a sub-limit that is set by your insurance company. Rare Items: Appraisals and insurance extensions are recommended in case of theft or loss of rare items. Sewer Back-Up & Earthquakes: These occurrences […]

Handing keys from one hand to the next. Magum York Condo

Housing Market Declines in Calgary

  With a 30% decline in sales from 2014 to 2015, the Calgary real estate market has definitely seen better days. In a currently flooded market, available listings continue to rise, while the number of buyers steadily declines. Buyers and investors alike are becoming much more guarded with their funds, due to the fall of oil prices and drastic changes in Calgary’s economic situation. Even the cost of real estate is being affected, as Calgary has already seen a 1.2% […]

Resident Retention and Your Bottom Line-4086

Resident Retention and Your Bottom Line

There’s something we must admit: renting a condo unit is much different than actually Retaining the residents. It can be one of the most challenging aspects of rental property management. Why should you struggle to attract and retain high-quality tenants for a long time? Leaving aside all the time and effort you must spend to fill vacancies, securing a longer lease is more cost effective than finding new tenants every few months. Since finding and keeping good renters for an […]