Condominium boards have some highly competent individuals serving as directors. From time to time, these directors reach out to share with Toronto Condo News their experiences, best practices and advice which we incorporate into our articles.
John Cardoulis is a director on the board of Newport Beach Condo in Humber Bay Shores, Etobicoke. He created a “who pays for what” chart for the residents at Newport Beach Condo to help them understand what happens when damage occurs to common elements or a unit. The chart is custom to reflect his community’s insurance policy, rules, standard unit by-law and insurance deductible.
He felt this would also be of great value to condominium managers and directors throughout Toronto and the GTA.
We agree and feel the complicated issues around insurance would be easier to understand if everyone used a similar chart customized for their community.