February 2020
Condo boards can spend hours, weeks and months discussing matters for which they are unqualified. They can discuss technical or financial matters for which they lack experience, knowledge or insight.
This is inefficient, unproductive and not the way condo boards should function.
The Condo Act recognizes that volunteer condo boards may lack experience and knowledge to manage their corporation. What is expected is that condo boards operate in a way comparable to boards of private businesses that may lack experience and knowledge yet successfully manage their organizations.
In the condo world, boards have access to many resources should they choose to utilize them.
Condominium Manager / Management Company
Condo boards usually employ condo management services. They have access to a condominium manager or management company experienced in condominium and property management. They are paid to provide advice and should be part of an effective problem solving strategy. Both likely have additional resources available to assist in areas where they lack expertise.
Consultants
The Condo Act encourages condo boards to utilize the services of consultants. These may be companies with which the corporation does business or others with suitable expertise including engineers, accountants and lawyers. Condo boards that utilize consultants, rather than making decisions without insight and expertise, make better decisions and absolve themselves from liability should advice later on turn out to be incorrect.
Condo Community Resources
Some of the best information available to condo boards is through Toronto Condo News.
- Toronto Condo News is a FREE monthly magazine covering condo living and condo management. If you are not yet subscribed to receive Toronto Condo News each month click here to subscribe.
- Condo Archives is a comprehensive condo-focused library you can search for answers to questions about condo living and condo management.
- Condo Resource Guide is where to turn for vendors and service providers for condominium managers, condominium directors and condominium residents. Condo Resource Guide is Toronto’s #1 source for the Condo Professionals you need.
All resources are available free of charge at www.TOcondonews.com.
Trust in Google
The internet is a great general resource. In the absence of other information, the internet can be a good starting point. It is not a free alternative to consultants or experts who understand your particular situation.
Condo boards should avoid creating solutions where they lack information. Management can be most effective when they seek information from those better qualified, evaluate information provided to them and choose a path from available solutions presented to them. This allows condo boards to cover more issues, more effectively and in less time. The result is better condo management.
