1. Residents Information Session – November 20th, 2012
CENTRAL/-1 OCSCC 903
Residents Information Session –
November 20th, 2012

2. Agenda Introduction of Board Board Update
CENTRAL/-1 OCSCC Residents Information Session
Agenda
Introduction of Board
Board Update
General Information on Condo Governance
Get Involved
Other Items
EnerCare
Urbania

3. (Taggart Realty Management)
CENTRAL/-1 OCSCC Residents Information Session
Board Members
Marty van Gaal (3 year term), President
Paul Gallagher (2 year term), Director
Krista Nonnenmacher–Biddiscombe, Secretary
Property Manager
(Taggart Realty Management)
Stefania Parnanzone
Concierge
Samra Mehmedagic

4. Board Update 3 Board meetings
CENTRAL/-1 OCSCC Residents Information Session
Board Update
3 Board meetings
Developed common elements deficiency list and issued to developer (including McLeod Lobby, BBQ design, bike racks, lighting in fitness room, etc.)
Determined topics of concern and obligation in order to plan future priorities, obligations, communication
Determined specific policies regarding such items as provision of audio visual services, security, amenity room booking, etc.
Reviewed proposals for winter snow removal, carpet cleaning, garage door maintenance, garage floor cleaning and window cleaning

5. CENTRAL/-1 OCSCC 903 Residents Information Session
Board Update
Approved additional security coverage (currently - Fri/Sat/Sun – 7pm to 2am, will be reviewed)
Changes to process of booking amenity room
Electricity - applied for and received approval to move from Wholesale Rate to Regulated Price Plan (RPP) – effective for October
Directory Board in Lobbies (split to reduce number)
Information Session
Performance Audit (PA) and Reserve Fund Study (RFS)
Communication

6. What can you expect from your Condo Board of Directors?
CENTRAL/-1 OCSCC Residents Information Session
What can you expect from your Condo Board of Directors?
Act honestly and in good faith
Build and maintain an adequate reserve fund
Call and hold Annual General Meetings (AGM)
Achieve compliance by owners with legislation and specific declarations, bylaws and rules
Keep owners informed

7. What can you expect from your Condo Property Manager
CENTRAL/-1 OCSCC Residents Information Session
What can you expect from your Condo Property Manager
Acts for the corporation, at the direction of the Board of Directors
Assists the Board in development of appropriate policies, plans and management systems
Manages financial, human, information and physical assets on behalf of the corporation
Collects monies payable to the corporation, and operates trust accounts
Supports general day-to-day operations

8. What can you expect from your Concierge
CENTRAL/-1 OCSCC Residents Information Session
What can you expect from your Concierge
Acts for the corporation, at the direction of the Property Manager
Supports the general maintenance activities of the common elements
Supports the onsite administrative activities
Security
Provides onsite contact for owners for general inquiries
Receives deliveries on behalf of residents

9. General Information on Condo Governance
CENTRAL/-1 OCSCC Residents Information Session
General Information on Condo Governance
What is a condo corporation?
How does condominium governance work?
What do my condo fees pay for?
What am I responsible for as an Owner?

10. What is a condo corporation?
Condominium is a legal description, rather than a type of home. Created by the Registration of a Declaration and Description of title to land
Each property owner owns some of the property outright (i.e. their individual unit), while the rest of the property is owned jointly (i.e.. the hallways, lobbies, amenity spaces, etc.).
The portions of the property, which are owned jointly, are referred to as “Common Elements” – where common rules are applied

11. 2 types of Jointly-Owned Property
Common Elements:
- Hallways, lobbies, amenity spaces, fitness room, courtyard, etc
shared by all owners in common
Owned and occupied by the Corporation
Exclusive-Use Common Elements:
Your unit balcony/terrace, storage locker, parking space
Individual owners have the exclusive right to use - follow defined rules
Owned by the Corporation, but occupied by the individual owner

12. Condo Corporation……
A condo corporation (person) is a non-profit legal entity set up, under authority of the Condominium Act 1998, to manage the entire condominium property, and any assets which the corporation may acquire (i.e. Reserve fund investments).
The Heirarchy of Laws includes:
Act
Declaration and Description
B-Laws
Rules

13. How does condominium governance work?
The condo corporation is governed by an elected Board of Directors.
The Board controls, manages and administers the common elements and assets of the corporation:
Annual budget
Reserve fund plan
Collection of common expenses
Enforcement of governing documents

15. The Condominium Act 1998 Top of the legal food chain
Provides the overall legal framework for condo corporations
Changed only by Ontario Government
All laws below must be consistent with the Act
The primary legislation of concern although other legislation applies, such as Income Tax Act, Employment Standards Act, Occupational Health Act, Human Rights Code, etc

16. Declaration and Description (Think of this as our condo “Constitution”)
Filed by the Developer to register the corporation.
Defines the percentage of the common elements owned by each unit owner, which forms the basis of the calculation of the monthly maintenance fees paid by each owner.
Outlines the obligations of the condominium corporation, board and owners, including repair and maintenance responsibilities.
Can be amended only with consent of 80% of owners.

17. By-laws
Provide the general operating framework for the corporation and must be registered.
Describes the procedures for meetings and elections.
Outlines the number, terms and qualifications of the Directors.
Can be amended only with the consent of 50%+1 (of all units not just those present)
Must be consistent with Act and Declaration

18. Rules and Regulations
Provides guidelines for safety, security or welfare of Owners.
Prevents unreasonable interference with an Owner’s peaceful enjoyment.
Can be changed by vote at an AGM, or passed by the Board with 30 days notice to Owners.
Must be consistent with Act, Declaration and By-laws
Rules do not have to be registered

19. What do my condo fees pay for?
Operating budget:
Day-to-day operations and administration (maintenance, supplies, common element electricity)
Staff - Property Manager, Concierge
Corporation’s insurance policy (building including standard unit)
Water (hot and cold)
Conditioned Loop for Unit Heat Pumps
Reserve Fund:
Money that is set aside for future major repairs as determined by a Reserve Fund Study (RFS) – 30 year view
Completed by an engineering firm.
RFS is updated every 3 years.
Minimum of 15% of Operating Budget (may be more depending on RFS)

20. How are my condo fees calculated?
The total annual budget (Operating + Reserve) is divided among all owners based on their percentage of ownership – (as defined in Declaration).
Percentage of Ownership is determined by your :
Your Unit square footage
Parking Space
Locker

21. What am I responsible for as an Owner?
Owners are responsible for participating in the governance of the corporation, the basics are:
Election of a Board of Directors
Voting for passing amendments, by-laws and rules
Attending Annual General Meetings
Payment of condo fees
Insurance of own unit
Repairs and maintenance of own unit
Remember the common spaces is yours

22. Repairs and Maintenance:
An Owner is responsible for certain portions of the repair and maintenance of their unit. These are outlined in Article 5 of the Declaration.
The basics:
Anything contained within the interior of the unit, including the interior surface of the front door and the drywall;
Any pipes, wires, ducts, conduits, etc, which provide service to your unit alone;
Your heating and air conditioning units;
Your balcony or terrace, including any windows which are accessible from the balcony or terrace, AND the interior of the balcony glazing.

23. General: Owners are responsible for their own hydro usage
Owners are responsible for any damage they cause to a common element
Owners are responsible for the actions of their guests, tenants, delegates, etc.
Owners are responsible for knowing the rules and bylaws of their corporation
Informing the board of any sub-leasing or renting arrangements (Tenants)
Informing the board of sale of a unit and moving date
Ensuring any tenants are informed of condo governance / rules

24. How can I get involved in my condo community?

25. Ask not what your condo can do for you,
Participate!
Participate in the governance of your corporation. Attend meetings. Vote!
Get informed!
Read and understand your Corporation’s governing documents, notices and updates.
Give back!
Volunteer for a sub-committee!
Ask not what your condo can do for you,
ask what you can do for your condo…..