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for all you condo/townhome owners

Discussion in 'TRIBE Main Forum' started by Jennika, Oct 11, 2005.

  1. Jennika

    Jennika TRIBE Member

    So Tearer and I will be moving into our new home at Massey Square on King Street West next month. as first time condo owners I'm trying to learn as much as I can about the whole process- especially the managment and condo board business. We've had our lawyer look over the status certificate and things seem fine but after reading articles in the condo section of the Star it looks like it's important to stay on top of who's running your building.

    so for any of you owners, are any of you on your condo board? Do you recomend it? have you had good dealing with your board?

    I'm interested in making sure our building is run well so i'm considering joining the board. do I have to have any experience or to have lived in the building for a set amount of time before I can get more involved?

    thanks!
     
  2. silver1

    silver1 TRIBE Member

    Congrats on the new place guys.

    Assuming that the condo board isn't currently run by morons, I don't really see the need in trying to become a member of the board (you have to get elected in).

    We're always apprised of what going on with updates from the condo board and I attended a meeting once on a number of issues that the board was looking for input on (the meeting dragged on and on and on because everyone and their cousin had some inane story to tell that only vaguely applied to what was being discussed).

    Either way, I wouldn't worry too much about it.

    The board members are already looking out for everyone's best interest for the most part.

    I mean, I'm not discouraging trying to get into it if you have an interest in being a board member. I'm just saying that in my experience I don't think it would have made any difference if I were a board member or not because all board members are condo owners anyway so most likely their best interests (i.e. running the place well to keep their homes value high) are your best interests as well.
     
  3. Vincent Vega

    Vincent Vega TRIBE Member

    You don't need any previous experience nor are there any residency duration requirements. But you do need to be voted in and other resident-owners will have to consider whether you're an appropriate choice. Bear in mind that it does require a committment and quite a lot of work if you're serious about it.

    A well-run Board is integral to the efficient running of a building. It helps to have resident owners on the Board as opposed to outside parties. Check to see if units in the building were sold as a large block to investors. If so, you run the risk of having all investors essentially turn over their vote to a representative who will then be voted to the Board on sheer number alone. If you don't get elected to the actual Board, try and see if they would be interested in setting up Committees of which you can be part. These can be based on several topics of common interest and can encourage owners to be more involved.

    The one item that will cause most stress in the building will be the issue of maintenance fees. If yours cover hydro, for instance, I guarantee you they will rise a lot. And very quickly! This is due primarily to the increase in hydro rates along with tendency of developers to understate fees when selling the building. So enjoy your first year....'cause they get higher after that ;)

    Aside from that....enjoy your new place. And congratulations on becoming homeowners.

    Rob
     
  4. Jennika

    Jennika TRIBE Member

    thanks Tommy, that's totally what I needed to hear. I'm the first of my group of friends to buy so I don't have too many people to go to for advice on all this.


    Glad that you guys are still happy in your place.
     
  5. squirrely

    squirrely TRIBE Member

    this totally doesn't answer your question, but i will be moving into DNA in May 2006. yay king west!!
     
  6. fear_of_fours

    fear_of_fours TRIBE Member

    DNA is ugly
     
  7. Jennika

    Jennika TRIBE Member

    babe, that's awsome! and you'll literally be right accross the street from us.

    hi almost-neighbour :)
     
  8. Sunshyne Jones

    Sunshyne Jones TRIBE Member

    we've been renting a condo and preparing to buy our own place, and the condo board in our building leaves a lot to be desired from what we've been able to tell as renters.

    if we were going to buy in our current building, we would definitely try to make our way onto the board, but mostly because we disagreed with things the way they are.
     
  9. squirrely

    squirrely TRIBE Member

    i can't wait. :)
     
  10. the_fornicator

    the_fornicator TRIBE Member

    from what my friend tells me:

    don't take board meetings too personally. there's always going to be a Village Idiot. It's much like an office meeting -everybody fills in a different role; there are productive people; there are stupid people; lastly, there are just plain fuckwads.

    i.e. don't feed the trolls.
     
  11. starr

    starr TRIBE Member

    i'm moving in next month
    tribers are taking over the area :)

    edit: sorry i realize i'm not helping either
     
  12. mcbee

    mcbee TRIBE Member

    my advice as a current condo owner is...read all the paperwork the board forwards you, plus VOTE when its comes time to vote on things. this is the biggest problem in my building is the lack of votes. therefore, sometimes the snivelling head honcho and his snivelling sidekicks (our nicknames for the trolls on our board) get their way, only b/c there were no opposing votes. i always vote by proxy b/c as tommy mentioned, the annual general meetings are a snorefest.

    good luck!

    :)sarah
     

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