Greater Toronto Property Management Inc

In 2013, the three condo directors at MTCC # 581 hired Greater Toronto to manage the property. For years the condo was burdened with financial and political difficulties, yearly changes in the board and new property management companies and ongoing allegations of mismanagement and fraud.

The buildings were in poor shape. The underground garage, concrete steps and the exterior brick walls were all in poor shape.

In the first two years under Greater Toronto, there was a monthly fee increase and a small Special Assessment. Yet, not much seemed to be spent on repairs.

Termination
In the spring of 2015, the board and the management held an owners information meeting to see if there was sufficient interest in terminating the condo corporation.

Pervez Tagari was present but he did not speak to the owners but sat at the back of the room.

The details were sketchy but the owners I talked to said that they were told:
1.
Management and the board would find a developer who would demolish the four buildings and build new mixed-use condo towers on the site.
2.
The owners would move out for a two to three year period and then would get a new condo unit.
3.
The new units would not be as big as their present units.
4.
The board would have to spend $100,000 or so to have a survey done of the property.
5.
If the condo was not terminated, then expensive renovations would be needed.
There was a Brampton based Realtor at the meeting who gave the owners his business card.

The "proposal" did not seem to be well thought out and the owners that attended this meeting couldn't say why a $100,000 survey was needed.

It was clear that there was limited, if any, support for  terminating the condo corporation.

Third Special Assessment
The new budget for 2015 contained a third Special Assessment. This time the owners were expected to pay an extra $2,000.

One of the owners looked for help to find out what could be done about the board and Greater Toronto as the monthly fees were rising, there were annual Special Assessments but no one could see any improvements.

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