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What Does The Board Do?

The board runs the condo corporation, representing the owners. The board’s directive is to ensure the standards of the building management, including every aspect from maintenance of the property to the treatment of staff, are protected. It also keeps everyone honest, without any undue power being given to one particular individual. A good board will ensure the property is effectively maintained so the value of the condos remains at or above their market value.

Boards of Directors’ responsibilities include:

·        Planning and overseeing the fiscal health of the corporation

·        Hiring a management company to manage the day-to-day work[mk3]  and duties

·        Ensuring that the staff is qualified performs their duties and is treated with respect

·        Collecting condo fees from owners

·        Paying invoices

·        Keeping records of management, maintenance, etc.

·        Preparing a budget

·        Awarding contracts through a tendering process

·        Insuring the condo

·        Managing reserve funds

·        Maintaining status certificates

·        Addressing residents’ complaints

·        Meeting the needs and rights of residents

·        Ensuring people live peacefully in accordance with the Condo Act

·        Communicating with residents about condo updates and news

·        Remaining accountable to residents

general a nutshell, the board’s job is to protect the property and its residents.

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