Study of re­serve fund manda­tory

In­volve­ment of own­ers can be help­ful

Calgary Herald - Calgary Herald New Condos - - New Condos - ROBERT NOCE

Q: Our con­do­minium board wants to ren­o­vate some com­mon prop­erty ar­eas, but there is no cur­rent re­serve fund study (it is two years over­due). The con­do­minium cor­po­ra­tion is cur­rently re­pair­ing an out­side wall, which required a spe­cial as­sess­ment, and the board tacked on more money for ex­tra work. Own­ers are con­fused about ev­ery­thing. Can a so­cial room and ex­er­cise room change lo­ca­tions? Do plumb­ing changes, ex­tra door­ways, re­moval of door­ways, and/or win­dows all re­quire the sup­port of own­ers?

A: First, the Con­do­minium Prop­erty Act re­quires ev­ery con­do­minium cor­po­ra­tion to con­duct a re­serve fund study ev­ery five years. The cor­po­ra­tion and/or in­di­vid­ual board mem­bers are ex­pos- cor­po­ra­tion un­der­took caused dam­ages within your unit, the cor­po­ra­tion should be tak­ing steps to re­pair those dam­ages, as well. The dif­fi­culty with an­swer­ing this ques­tion is that I would re­quire ad­di­tional facts to give you a de­fin­i­tive an­swer. How­ever, your po­si­tion sounds rea­son­able.

Help­ful hint:

David Moll/Cal­gary Her­ald

The Con­do­minium Prop­erty Act says the condo cor­po­ra­tion must re­pair and main­tain com­mon prop­erty or cor­po­ra­tion-owned prop­erty.

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