July 19, 2019

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External signs which say a lot....

HOW TO RECOGNIZE A POORLY ADMINISTERED BUILDING IN CO-OWNERSHIP?

By Élie Boridy, administrator, Syndicat des copropriétaires du 995 Muir

Saint-Laurent  Borough, Montréal

http://www.le995muir.com/documents_utiles/les_propriocataires.html 


There was a time when the principal factors considered in the acquisition of a condominium were the purchase price and the condo fees. The lower the condo fees the better it was. Unfortunately, the reality is that one day or the other money will be need for maintenance and repairs.  

How to recognize a condominium badly administrated? Here some clues:

 

When in front of a building do you notice the following things?

  • Television antennas anchored on the balcony or external walls of the building?
  • Clothes drying on the balconies either on the railings, clothe lines , chairs or any drying apparatus?
  • Different objects stored on the balconies, such as bicycles, tires, boxes, freezers, etc
  • Railings of the balconies covered with fabrics (often multicolored)?
  • Flower pots hung on supports anchored on the walls of the building?
  • Walls and ceilings of the balconies painted (often with badly matched colors)?
  • Windows of the units encumbered with strange decorations and stickers?
  • “For Sale” or “For Rent” signs hung on the windows and the balconies?
  • Windows of the units covered with multicolored flags or sheets?
  • Carpets and  cloths hung on the railings of the balconies?
  • Posters “For Sale” or “Open House” installed by agents  in front of the entry of the building?
  • Finally, does the general  state  of the building give the impression to be badly maintained?

If you notice one or more of the above points most probably the building is badly administrated.

Indeed, our declaration of co-ownership prohibits all the points enumerated above. If administrators tolerate one of the points mentioned above, they would later have difficultly enforcing the other rules. Often, these administrators do not observe themselves the rules of the building.

Most probably the administrators that do not enforce the building rules have no courage to increase condo fees in order to plan for an emergency fund. They would not have either perspicacity to establish a maintenance log, nor to make a periodic evaluation for insurance.  Lastly, they would not have the building inspected by a professional to evaluate its condition and ensure its maintenance. 

As a consequence of low condo fees there are higher risks for painful special contributions and decreased value of the condo units