Paid professional directors
The industry professionals in Ontario are toying with the idea that
residential and multi-use condominiums need paid professional directors.
There is merit to this idea especially with the new huge multi-use
condos that are being built. How can five or seven owners of
residential units have any idea on how to direct condos that have 600
residential units plus ground floor retail units and also be a part of
a large shared facilities corporation?
Professional directors can also be extremely effective in residential condos that have run
into serious financial difficulties or are about to come out of
A seminar being held at the 2015 AMCO CCI-T conference
If the majority of owners at an existing condo want paid directors that
will be held to a higher standard of accountability than their existing
amateur volunteers, there is nothing stopping them from hiring one or
more professionals today.
All they need is for the owners of 50% plus one of the units to pass a
by-law—it will need to be renewed every three years—stating the pay and
benefits the job offers and then the directors can be elected or
appointed at an owner's meeting. Condo Act Section 56.(2)
The concept of democracy
Democracy will be retained as the directors will need to be re-elected
and the board will have to report on their performance at the AGMs.
So what is stopping it?
In theory? Nothing. Some condos, (mostly the self-governed ones)
already give their directors some form of payments so this proposal
will just raise the level of remuneration and bring it out into the
However, just wait until the owners hear that their directors want to get paid and listen to the howling.
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