Condo Smarts: Rising insurance costs affect contingency fund (BC)

/ Owner - November 4, 2021

Dear Tony:  Our strata council has an ongoing dispute between our treasurer and property manager about our annual insurance policy payment.  Our owners approved a budget of $82,000 for this year based on the previous value of the policy. We had not anticipated a substantial claim this year that had a significant impact on our renewal in September to $124,000.    Read the Q&a……………………………..

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