Read More
3 min read
Involvement in your community's Condominium Corporation is a rewarding way to stay active in and support the standards of your development.
Serving on a condominium corporation board of directors can be an exciting job that imbues you with a sense of personal responsibility—after all, you're taking an interest in how the corporation fares while you're on the board—but it's important to be aware of potential conflicts of interest, and to handle them as openly and above board as possible.
It's essential to know the difference between condo insurance and unit insurance. It turns out that both are necessary for owners and condominium corporations to avoid incurring significant costs in the event that damages should occur.
In today's economy, everyone is looking to save money-and that includes your condominium corporation.
Condominium boards are comprised of residents who volunteer to take active responsibility for what happens within their community. However, many residents and even new board members are not exactly sure of what the board and its members and officers do. Typically, there are four officers and an odd number of board members whose responsibilities vary slightly.
Damage caused by water may easily become one of the biggest expenses you could face as a condominium owner.
Most condominium boards decide to hire a professional, licensed property manager or management company to help take care of day-to-day tasks. To avoid confusion and unnecessary frustration, it's important to understand what property managers' duties are and what they can be expected to handle.