Condo Owners Association COA

Monday, 25 February 2013 10:04

COA Concerns

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COA Additional Concerns

  1. Home Warranty Act needs a complete revision.  Consideration for Developer to guarantee maintenance fees for at least 3 years.
  2. Provincial Government consideration for a Condo Reserve Fund Bond which pays  1 to 1 ¼ % higher than the Ontario Savings bond. Reserve funds create jobs
  3. Reserve fund studies need to conform to proper financial numbers.  Interest rates and inflation rates must be set by the Government.  Reserve funds are using short term interest rates of 3% and inflation rates of 2%
  4. MPAC should consider deficiencies in the Reserve Fund
  5. Smoking problems in buildings
  6. Status Certificate - 10 banking days is too long of a period and jeopardizes sale
  7. Meetings with extensive costs considered should be part of status certificate

Read 25140 times Last modified on Monday, 03 March 2014 17:26
Linda Pinizzotto

Linda is the Founder & President of the Condo Owners Association (COA). Linda is very active in the community and has been a Realtor for over thirty years.

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