A Reminder About Reserve Funds and Status Certificates

If a condominium corporation is aware of any circumstances that may result in an increase in the common expenses (that is, an increase beyond inflation), this must be disclosed in Paragraph 12 of the status certificates. Therefore, something may need to be mentioned in Paragraph 12 of the status certificates if it appears that contributions to the reserve fund may need to increase (beyond inflation).   Read the article………….


Related Articles

How to run a condominium meeting

Are you the Director of a Condo Association or Condo Board? Efficiently and effectively running a Board Meeting can be

Electric Vehicles in Condos

Today, in celebration of Earth Day (yes I know I’m late), I thought that I would write about an environmental

Notes on the management of BC strata corporations with sections

Over the course of 2013 it came to the attention of the Real Estate Council of British Columbia(“RECBC”) that the