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Tag Archives: condominium management

Packed forum demands changes to Condominium Act

The Canadian

Why Should I Care’s ‘Condo Forum,’ held February 27th, drew condo owners from across the GTA, all demanding changes to the 15-year-old Condominium Act. This WSIC event was so well attended that the traditional Q&A portion had to be extended by 30 minutes.

The evening’s guest speaker was Trinity-Spadina MPP, Rosario Marchese, who has long proposed a bill of his own that would update the Act. “The success of this event shows that people are becoming increasingly active. They are frustrated and they are joining other owners to make their voices heard. That’s a very positive sign in a democratic society.” said Marchese.

“The passion and engagement of the attendees is further evidence of a growing chorus of condo owners who understand and demand that the condo act be re-opened and significantly amended to create much better protections for what is, for most people, the largest single purchase and investment of their lives.” said Liberty Village Residents Assoc President Todd Hofley.

“I was pleased to attend this event and ensure that the position of ACMO (the Association of Condominium Managers of Ontario) was clearly represented to those that share our belief that Ontario’s condominium law needs revision. While we believe in a more thorough review of the Condominium Act than that represented in Mr. Marchese’s previous bills, ACMO does support licensing of the condominium management profession and ACMO and CCI have shared our suggested changes to the Condominium Act with Minister Best and her senior Ministry staff. Copies of our legislative brief are available at www.acmo.org or www.ccitoronto.org” said Dean McCabe association President

“Why Should I Care?” is a non-partisan, community-lead initiative dedicated to providing an educational platform for discussing salient political issues. Concerning the February 27th event, WSIC Director, Terri Chu said: “After learning about the problems caused by Toronto’s condo boom [at last month's WSIC event], it was great to hear some solutions tonight.”

“On behalf of Condo Owners Association (COA), we were pleased to work with “Why Should I Care ?”. WSIC is bringing important issues to the forefront. Open communication and interaction, between our Communities and Political Representative is critical to change. COA believes changes are required to the Condo Act, Tarion Warranty, Building and Zoning Codes. There are so many issues; the list continues after each meeting and recognizing the problem is the first steps towards resolving it.” said President Linda Pinizzotto.

WSIC’s next event will be held March 19th. Dr. Paul Garfinkel – a psychologist and former CEO of CAMH; and Elaine Flis – past Chair for the Margaret Frazer House and Board Member for PARC; will lead a discussion about the mental health challenges facing Canadians today and propose some solutions.

Our April event will examine Innovation and Technology with Guest Speaker Dr. Ilse Treurnicht the CEO of MaRS Discovery District, a leading innovation centre located in Toronto.

Why Should I Care? events are free, non-partisan, and held in an inviting, low-key environment. All are welcome to attend, ask questions, and share their ideas through thoughtful discussion. For more information on this and other WSIC events, visit www.whyshouldicare.ca.

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Contact the Jeffrey Team for more information – 416-388-1960

Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.

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  • Real Estate Terms You Should Know

    Buying or selling real estate can be a tricky process. There are hundreds of commonly used terms that could make up a language of their own. Here are some home buying terms that you will most likely encounter when you purchase your home.

    Amenities
    Features that enhance and add to the value or desirability of real estate. Common amenities include swimming pools, professional landscaping, gourmet kitchen and so on. Generally used regarding condos.

    Amortization
    This is a schedule that outlines your loan payments for the duration of the home buying loan. It details how much of each monthly payment goes toward the principal and how much goes toward the loan interest. Initially, the bulk of your payments will be applied toward the interest.

    Appraisal
    An estimate of the value of property, made by a qualified professional called an appraiser.

    Bungalow
    A one-story house, cottage, or cabin.

    Breach
    Violation of an obligation in a contract.

    Broker
    A real estate professional who has acquired a higher level of training and experience than a sales agent. A minimum number of classes must be taken along with passing a provincial exam to acquire a broker’s license. Generally they are a legal representative or a proprietor of the office. Brokers usually charge a fee or receive a commission for their services.

    Building Code
    A set of stringent laws that control the construction of buildings, design, materials and other similar factors.

    Condominium
    A large property complex that is divided into individual units and sold. Ownership usually includes a non-exclusive interest in certain common elements controlled by the condominium management.

    Close
    The final procedure in a home sale in which documents are signed and recorded. This is the time when the ownership of the property is transferred.

    Closing Costs
    Expenses in addition to the purchase price for buying and selling a property. Generally they included land transfer tax, legal fees, plus any adjustments due to property taxes or utilities.

    Comparative Market Analysis
    A comparative market analysis (CMA) is a report that shows prices of properties that are comparable to a subject property and that were recently sold, are currently on the market or were on the market, but not sold within the listing period.

    Conventional Mortgage
    A first mortgage issued for up to 75% of the property’s appraised value or purchase price, whichever is lower.

    Counter Offer
    An offer made by the seller back to the buyer altering one or several terms and/or conditions of the offer as originally written.

    Deed
    A legal document that conveys (transfers) ownership of a property to a buyer.

    Deposit
    Along with an offer, buyers should make a deposit on the home to demonstrate the seriousness of the offer. When a deposit is made, it is held in trust until closing. It is then added to the down payment.

    For Sale By Owner (FSBO)
    This term refers to property that is being sold without a real estate agent. FSBO is also used to refer to the home owner who is selling the property.

    Foreclosure
    The process after home buying is complete by which a lender repossesses and resells a property after the owner has defaulted.

    Investment Real Estate
    Real estate that generates income or is otherwise intended for investment purposes rather than as a primary residence. It is common for investors to own multiple pieces of real estate, one of which serves as a primary residence, while the others are used to generate rental income and profits through price appreciation. The tax implications for investment real estate are often different than those for residential real estate.

    Land
    Property or real estate, not including buildings or equipment that does not occur naturally. Depending on the title, land ownership may also give the holder the rights to all natural resources on the land. These may include water, plants, human  and animal life, fossils, soil, minerals, electromagnetic features, geographical location, and geophysical occurrences.

    Land Value
    The total value of the land, including any upgrades or improvements to the land.

    Land Transfer Tax

    Payment to the provincial government for transferring property from the seller to the buyer. In Toronto, there is also a second municipal land transfer tax.

    Lien
    This is a legal claim that keeps the property from being sold until the lien is paid off.

    MLS – Multiple Listing Service

    An organization that collects, compiles, and distributes information about properties listed for sale by its members, who are real estate brokers and salespeople. Membership isn’t open to the general public, though selected MLS systems may have public websites. Different MLS systems can be local or regional.

    Real Estate Agent
    A person with a state/provincial license to represent a buyer or a seller in a real estate transaction in exchange for commission. Most agents work for a real estate broker or realtor.

    Title Insurance

    An insurance policy that protects a lender’s or owner’s interest in real estate property from assorted types of unexpected or fraudulent claims of ownership. It’s customary for the buyer to pay for the lender’s title insurance policy.

    Zoning
    Government (usually municipal) laws that control the use of land within a jurisdiction.

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    Contact the Jeffrey Team for more information  -  416-388-1960

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    How to give an older condo unit a facelift

    Renovating a condo differs vastly from renovating a single-family home.

    David Males

    Remember the Toronto condo boom of the 1980s? Back then, condos were springing up in this town faster than dandelions on a spring lawn.

    According to Canada Mortgage and Housing Corp., 58,665 highrise condominium units were built in Toronto in the decade starting in 1984.

    Now, 20-plus years later, those condos might be starting to look a little old. A little tired. In other words, they need a reno.

    Renovating a condo is not the same as renovating a single-family home. There are big differences that can trip you up if one undertakes the process unprepared.

    So why would someone buy one of these old, tired units that needs to be renovated as opposed to a brand spanking new unit with all the bells and whistles?

    Condo buyer Judy Wingham has the answer to that one – and it, of course, starts with location, location, location.

    “We really wanted to be in the St. Lawrence Market area, and there weren’t any new projects in the area when we were looking,” she explains. But, equally important to Judy and her husband, Brian Smith, was the size of the unit itself.

    “How do you find a place big enough when you’re downsizing from a four-bedroom house? We only looked at older units because they’re generally larger than the new ones,” says Wingham about the 1,300-square-foot, two-bedroom condo they purchased.

    Condominium lawyer and Toronto Star columnist Gerry Hyman says buyers (or owners) who are considering a condo renovation need to be very cognizant of the rules that govern renovations in that particular building or risk finding out too late that they can’t do what they were planning.

    Condo buyers should make their agreement of purchase and sale conditional on the examination of the status certificate,” explains Hyman. “This will include a copy of the declaration and the rules. If you sign an agreement of purchase and sale without taking that step, you may be too late.”

    The declaration outlines what is owned jointly by all the owners in the building (called common elements) and what is owned by the unit owner. As a general rule, you can change what you own, but can’t change any of the common elements without the express permission of the corporation.

    This is where what is or isn’t a common element becomes important, because things like windows, balconies and unit front doors are almost always common elements, and many declarations prohibit any structural, plumbing or electrical renovations.

    “People may have carried out renos they shouldn’t have and the corporation can require them to put it back the way it was,” says Hyman. “It’s rare, but it does happen.”

    The condominium rules may also contain additional guidelines regarding how the work is to be carried out. Things like parking for tradespeople, the hours they are allowed to work and disposal of garbage may be spelled out in the rules.

    Because of the added complications involved in renovating a condo, there are contractors who won’t even consider doing that kind of work. Others, like Sandra Baldwin, president and owner of Lifetime Contracting in Toronto, find it’s not that difficult if you have the right approach. She’s completed a couple dozen condo renos in recent years and says the key is to involve the condominium corporation from the beginning.

    “If you approach the condominium corporation right up front, they are usually very helpful and try to accommodate you,” explains Baldwin.

    She gives condo clients a detailed written estimate that they can give to the corporation, along with a covering letter, so they can seek approval long before the work begins.

    For her, the biggest difference in condo vs. single-family home renos is the time factor.

    “Getting materials and debris to and from the unit – that’s a big hassle,” she explains. But, on the plus side, building permits are often not necessary, as they are often not doing work that involves plumbing, electrical or structural elements.

    I, too, have found that the timing issue is the most difficult to manage when renovating a condo. Many corporations will have set hours that tradespeople can work – usually from 9 a.m. to 5 p.m. – which means that I can’t just schedule trades to work a few extra hours if the job gets behind. Parking can also be a pain as many buildings only have one or two (if any) service parking spaces and these are snapped up early. Most experienced contractors will build an allowance for parking fees into the original quote or contract.

    While Brian Smith and Judy Wingham did their homework before purchasing, there were still a few surprises along the way.

    “We couldn’t do pot lights because the ceiling above is a cement slab,” explains Smith. “Of course, that makes sense, but it’s not something you necessarily think about right away. And, all the structural walls in our unit are concrete slab as well, so you can’t even put in a new plug. It made planning more challenging.”

    Waste removal was also a big challenge. During the renovation process, Smith negotiated bringing in a dumpster, but the corporation would only allow it to be on site for one day – meaning all the waste had to be stored in the unit and carted out all at once.

    “You can’t dirty the hallways or the elevators either,” explains Smith. “An awful lot of care had to be taken at every step of the process.”

    Every room of the couple’s condo was tackled, with new trim work and painting throughout, new hardwood floors in the main living areas, new tile in the entry, kitchen and bathrooms. Both bathrooms and the kitchen were also completely renovated and a den was created where there was a solarium. The price of the reno ran about $120,000.

    Another big challenge is trying to change the location of things like sinks and toilets when you can’t touch the plumbing behind the walls. In Judy and Brian’s kitchen, for example, the pipes were extended behind the cabinets to move the sink and dishwasher to their new location.

    The ensuite bathroom was more challenging. To move the toilet, a step up was built so that the new drain could slope properly to the old drain location. To minimize the visual impact of this step, a half-height wall was added between the toilet area and the rest of the bathroom, adding more privacy in the process.

    To replace the bathtub with a built-in shower, the new shower was located so that the existing drain from the bathtub could be used without raising the floor level or drilling for a new drain.

    The costs for these kinds of changes is comparable to those incurred in a traditional renovation, it’s just the methodology that differs. (Of course, the condominium management was consulted before proceeding.)

    Smith and Wingham have some words of advice for those considering a condo reno: Be flexible, work with a contractor you can trust and make your decisions on time.

    “That was what really surprised me, how quickly we had to make decisions,” said Smith.

    “We were on a tight timeline (two months) and we had to get out there and choose the tile, granite and fireplace surround on time, or it would have held up the whole project,”says Smith.

    Condo owners considering a renovation need to make sure they hire a professional who has done condo work in the past, says Baldwin.

    David Males is president of Northern Edge Construction Services, a residential renovation company, and chairman of the BILD Renovators Green Committee. For more information, go to www.noredge.com.

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    Contact the Jeffrey Team for more information  -  416-388-1960

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