First-Year Deficit of a Condominium Corporation

One of the first challenges of a new condominium board of directors is the survival of the first fiscal year on a budget set by the builder. When there is a shortfall between this first-year budget and the actual operating expenses incurred by the corporation during that first year, condominium corporations can turn to the declarant.    Read the article………….


Related Articles

Slipping (and falling) in a Winter Wonderland

The winter season is upon us, and (not surprisingly), with this time of the year comes rapidly falling temperatures. As

How Much will the Condo Authority Cost Condo Owners?

As you certainly know by now, the new Condo Authority of Ontario will be designated as the condominium authority as

Bill 132 – Update to Workplace Harassment: Is Your Condo Compliant?

A condominium corporation is an employer for the purpose of the Occupational Health and Safety Act (OHSA), and therefore is