Condo-Link Services IncorporatedCommon Expenses and Common Interests Archives

Smoke-Free Condo Living

How to Make Your Condo Smoke-Free

Research clearly shows that smoking (including second-hand smoke) is a serious health concern. Health effects include lung cancer, asthma, respiratory diseases, and a host of other ailments. In particular, smoking is a concern in multi-unit structures where second-hand smoke travels through the building’s hallways, ventilation system, under doorways, and any unsealed area.

Most condominium corporations do not have any restrictions with regards to smoking in their By-L $no_smoking_sign_clip_art_16253 {border:solid red 1px}$ aws or Common Element Rules. And the New Brunswick Condominium Property Act (Chapter C-16.05) does not address smoking in condominiums. So, how can a condominium corporation facilitate change for a smoke-free building? The answer is to create a smoke-free building policy and include it in your condominium corporation’s documents. In New Brunswick, a smoke-free policy can be included in the Common Elements Rules. Continue reading →

Condo Fees versus the Costs of Maintaining a Home

Why Do Condominium Owners Pay Condo Fees?

Often I hear the comment that buying a condo feels like you still have to pay rent – referring to the monthly condominium fees. True, all condo owners are required to pay condominium fees. But what is misunderstood, is what these fees are used for. If you own your own home, you pay for maintenance, insurance, water and sewage, and hydro. You also pay for lawn care services or alternatively you buy the tools and supplies and take care lawn and garden beds yourself. If the roof needs to be repaired, you pay for the repairs, either by taking it from savings, using a line of credit, or perhaps remortgaging your home. Continue reading →

Expenses Every Condo Owner Should Know About.

Often I am asked what expenses a condo owner is responsible for. Each condominium corporation’s governing documents (Declaration & By-Laws), will identify what expenses are paid for by the condominium corporation. Condo owners contribute towards these expenses. Typically, condo owners are responsible for regular condominium fees and possible special assessments.

Condominium Fees

Condominium fees are used for 2 main purposes – 1) to pay for monthly and annual expenses of managing the condominium corporation and 2) to fund contributions to the Reserve Fund and a Contingency Fund, if applicable. These expenses are all identified in the annual budget. The Board of Directors is required to prepare and distribute a copy of the budget to all unit owners in accordance with their By-Laws. Continue reading →