Do we ask the condo owners for the money upfront or do we get a bank loan?
Q We are short of funds in our reserve fund account. Either we levy a special assessment of $2,000 per unit or get a bank loan. Would it be within the authority of the board of directors to get a bank loan without consulting the owners? We realize that a special assessment would cause a little hardship to several of the owners, so we feel that a loan would be a better option. Read the article………….
Firefighters and residents alike say a condo fire in Fort McMurray could have been a major disaster if not for
Q: I am an owner and on the board of a small four-storey condominium building. Recently, a company bought a
Q. My brother is buying a condo and he wants to know if each condo is obligated by law to