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A downtown condo, that is about
75% rented, has not raised its monthly maintenance fees in the last six
years.
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a
three-year old hipster condo in Toronto's Entertainment District has
underfunded its Reserves by $100,000 so it could pay the operating
costs. |
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A fairly new middle-class condo
in North York where the directors who raised the monthly common
expenses were voted out of office. |
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Requistionists who want to
replace the board and promise the owners that if elected, they will
reduce the fees by 19%. |
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A condo where the financial
statements claims there is $300,000 in the
Reserve Funds but the auditor states, buried in the bottom of the front
page, that the Reserve account has a bank overdraft.
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Owners in a ten-year old condo
who are requisitioning an owners meeting so they can replace the board,
fire
the management company, cut the cleaning hours and hire lower-cost
contractors in order to lower the fees.
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An
owner who is helping in an attempt to remove an honest board tells the
owners that a little bit of corruption is okay if our fees go down.
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A condo in the west end of
Toronto that has not raised its fees in years, has an eight-year old
Reserve Fund Study, needs $4 million in repairs and had only $13,000 in
the Reserve Fund. It owes thousands in unpaid utility bills.
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A Reserve Fund study by the
engineering firm that says a roof
needs to be replaced and the parking garage repaired in 2012 but the
next study, done by a second engineering company, says the work can be
postponed until 2020 and 2024. |
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A
North York condo that is so
broke it laid off the gatehouse security staff and then bought a tea
kettle for the gatehouse desk to make it look like guards are still on
the job.
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