We are proud to offer two different condo courses.
Board of Directors Course:
Contains a full spectrum of information. Ideal for anyone in the industry who is involved as a decision maker or manager for a Condominium Property. We meet one evening per month and dive into a different topic each class, where we pack as much information as possible into a 2 hour period. We are excited to have guest presenters share their knowledge. Such as Lawyers, Accountants, Reserve Fund Specialists and Insurance Specialists. Be prepared to have your head packed full with great information every month.
Specifically designed with Realtors and their team members in mind. We will be covering information that you need know in order to help your clients buy or sell their condos. You will leave this course with confidence to be a competent Agent on any Condo Unit purchase or sale.
Document Review Services
When purchasing a Condominium, you get much more than just your unit and possibly a parking stall or two. You are also buying into the “business”.
There are many business documents that should be reviewed before you remove conditions on your potential home and commit to being a part of this “business” venture.
We specialize in reviewing these documents and will provide you with the tools to make an informed decision.
For more information about Condominium ownership, click on the “Condo Information” tab.
We will examine and review the Condominium Documents and provide a written summary stating the facts of the findings. The report may be sent via email or fax. We will also follow up with a telephone call, to the client, highlighting the areas of interest.
Our reviews include the following:
- Condo Fee Amounts (utilities and other services included in those fees);
- Have the Bylaws have been registered at the appropriate Land Titles Office;
- Any use and occupancy restrictions, such as age restrictions, pet prohibitions or restrictions, and the like;
- Developer/Builder exemptions, if any, such as exempting a developer from paying condominium fees until the unit is sold;
- The location of the unit and parking stalls (if any) which the customer will have the exclusive right to use within the Condominium Plan;
- The type of Condominium (bare land or structural);
- What portions, if any, of the unit the owner is responsible to repair, maintain and/or replace;
- What portions, if any, of the unit the Condominium Corporation is responsible to repair, maintain and/or replace;
- What does the Owner of the unit have the responsibility to insure;
- What does the Condominium Corporation have the responsibility to insure;
- The number of members on the Board of Directors;
- What are the qualifications to be a Board member and what, if anything disqualifies a member from remaining as a member of the Board;
- Parking arrangements including whether and how an Owner obtains exclusive use of specific parking stall(s);
- Have any judgments or writs of enforcement been registered against the Condominium Corporation;
- Have any restrictive covenants prohibiting or restricting the use of the unit by an Owner been registered upon the title to the unit;
- Has a Capital Reserve Fund study been conducted and when;
- What portions of the Capital Reserve Fund has the Condominium Adopted;
- Has the Capital Reserve Fund Study been complied with, or are there arrears and shortfalls in the study as adopted by the Condominium Corporation;
- Review the Condominium Corporation’s last financial statements and budgets and comment on any deficiencies or shortfalls;
- Advise if any Special Assessments have been passed by the Condominium Corporation as evidenced by Resolutions of either the Board of Directors or the Unit Owners of the Condominium Corporation;
- A review of all minutes of meetings of the Unit Owners and the Board of Directors of the Condominium Corporation for one year prior;
- If the Board of Directors of the Condominium Corporation has the power and authority to establish rules and regulations pursuant to the Bylaws of the Condominium Corporation, a review of any rules and regulations passed and adopted by the Board;
- Any other document requested by the Customer to be reviewed by Condolyzers.
The client is responsible to collect the documents from the Condominium Corporation. Once we have received sufficient documentation, we will proceed with the review.
A review typically takes 3-4 business days to complete. Please ensure adequate time is considered to remove conditions from your offer to purchase.
Payment is required prior to commencing the review.