Condo Smarts: Sorting out fact from fiction of strata’s annual budget

Dear Tony: Our strata sent out notice of the annual general meeting in February with three separate budgets.  One has no increases in fees and less than $10 a door going into our contingency fund each month.  The second has a modest five per cent increase in operational costs, and the third has a 25 per cent increase that puts almost $100 a month in the contingency fund. The footnote says we must vote on one of the budgets by majority vote, as no amendments are permitted at the meeting. What happens if we don’t approve any of the budgets?   Read the Q&A…………


Related Articles

Toronto dealing with elevator technician shortage, industry says

There aren’t enough elevator technicians in Toronto to keep up with the city’s demand to build new elevators and fix aging ones

Etobicoke building residents struggle with rising condo fees

Condo fees are rising to an unaffordable level for residents of an Etobicoke apartment building.   After years of neglect, Eight

Condo alterations have to go through strata first

Dear Tony: Our strata is an older apartment-style of high rise condos with balconies. The balconies are part of our