If you live in a condo and have ever wondered who’s responsible for the upkeep of the building, or who you should run to in order to deal with unruly residents, it’s the Board of Directors.
All condos in the GTA have a Board of Directors who represent owners in the building, and act as their voice in regards to their best interests and requests. At all times, the Board of Directors must enforce and uphold the Condo Act, rules and by-laws, which is essentially the Board’s first priority. Any complaints from residents are reviewed by the Board, who will then decide if violations were made or what fines should be imposed.
Even though it’s your responsibility to take care of your own unit, it’s the Board’s job to maintain the property, as well as identify and repair any problems with common areas, such as the hallways, amenities and the building’s exterior.
Those condo fees that you have to pay every month are part of the condo’s association money, which is managed by the Board of Directors. Every year, the budget is reviewed, and subsequently, the annual fees are set to help pay for services and upholde a reserve for emergencies.
As a condo owner, you should expect to have information such as decisions, problems, information meetings and finances communicated to you on a regular basis by your Board of Directors. Such honesty and transparency is not only important, but it’s also the duty of your condo’s Board of Directors.