• |
People living in close proximity are as likely to create conflict as they are to create a sense of community. |
• | Young purchasers and those who downsize from detached homes often have difficulties adjusting to living so close to other people. |
• | Each condo is a little fiefdom and each one has a king. |
• | Many people who get elected to the board have time on their hands and this is the only place where they have power. Unfortunately, that starts to go to their heads. |
• | Some boards go to great length to police their neighbours. |
• | Noise complaints are a big issue. |
• | An upscale Calgary condo collected $80,000 in fines in one year. Noise violations cost $1,500 and damage to the common elements by a dog $950. |
• | Mediators for condo disputes cost up to $800 an hour with mediation costing an average of $12,000 compared to $222,000 in typical costs if the dispute goes to court. (These court cost figures were provided by Armand Conant, a Toronto condo lawyer. These figures seems to me to be far, far too high. editor) |
• | Some neighbours engage in
vandalism, spying and assault against each other. |
• | Seniors with dementia living alone are serious safety risks. |
• | We may be building future one-bedroom ghettos. |
• | Investors are buying two-bedroom condos and using them as rooming houses for up to 12 people. |
• | Some young condo purchasers resist paying higher fees to fund the reserves for repairs that will be needed in the future because they do not plan to own their units that long. |
• | Low-income residents with no
savings are struggling to maintain large highrises. People who have no
savings shouldn't be living in condos. |
• | Some people who cannot read a
balance sheet or a financial statement are running buildings with a
budget of $3- to 4 million a year and are keeping the fees low and are
failing to do the necessary repairs. |
• | Up to 20% of the condos in the
GTA are facing problems so severe that
in some cases the province will be forced to step in and dissolves the
corporations and sell the properties. (20% of 4,000 condos are a lot of failed condo corporations. Can it actually be this bad? editor) |