Realtor offers thousands to save condo owners from faulty pipes (ON)

Just as Toronto comes off another healthy summer of condo sales, many condo owners are coming to grips with an unforeseen and costly crisis looming behind the walls. With plumbing recalls in an estimated quarter of condos built between 1995 and 2007, it is not a question of if Kitec plumbing will fail, but when.  The faulty and once popular plumbing has been known to cause leaks or even burst. This could lead to floods and damage in multiple units and it is up to the owners to foot the bill for repairs. With staggering repair price tags of $5,000-$10,000 per unit, many are scrambling to find the money for the repairs or fear that they might not be able to keep insurance policies and resale values in place.    Read the article…………..

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