February 2015
Complexes with a dysfunctional board are de facto run by the outside management company, which often, when it realizes that there is a decision-making problem at the board level, will seize the opportunity to make decisions, often benefiting itself rather than the complex. This may include hiring expensive trades and receiving kickbacks and other perks because the management company knows that a poorly functioning board will be unable to detect, or deter, such nefarious activities, or, worse yet, will not be able to make collective decisions to change the management company.
The Condo Bible delves into aspects of condo living that most people do not consider. Click here for information on The Condo Bible for Canadians.
