Condominium Properties General Information
What is the role of the Board of Directors?
The Board of Directors of a Condominium makes decisions for the Condominium and their owners, relating to both collective and personal property. The Board is subject to restrictions imposed or directions given at the general meeting. The overarching tasks are as follows:
Administration:
- Maintaining the common property;
- Making and enforcing rules;
- Enforcing the Corporation’s bylaws and the Condominium Property Act;
- Understanding when larger maintenance-related jobs are needed and evaluating costs for these jobs;
- Setting the Corporation’s budget; and
- Collecting fees or contributions from property owners within the Condominium.
What is a Condominium?
A condominium is a unique type of property ownership where owners have a title to their unit (can be a townhome, apartment, or commercial property, among others), but also jointly own common property with the other unit owners. Unlike an apartment complex, the management of the common property and maintenance of the building (including administrative tasks) are the responsibility of the Corporation’s Board who are elected by the owners.
Where can I find all the information related to my Condominium unit?
Each new owner will be mailed a welcome package that contains valuable and important information, and we urge you to keep it for reference.
How do I find the Bylaws & Rules for my Condominium Corporation?
All current Bylaws & Rules for your Condo Complex should be provided to you when you take possession of your Condo Property. It is your responsibility to read through these documents and keep yourself aware of various rules and regulations, including upgrades and improvements to your condominium.
How do I request documents from Emerald Management & Realty Ltd.?
Every situation tends to be unique and, accordingly, for personal tailored responses, please contact Emerald Management & Realty Ltd. directly at 403-237-8600.