Buying a condominium is not only buying a unit but also buying a share in a business – the business of owning and managing a  portion  of the common property  And because you won’t purchase a business without checking it out -  checking  out the condominium corporation you are buying into just makes sense.

At CondoSmart Inc, we are committed to helping you make an informed decision on your condominium purchase.  With 25 years of experience in condominium and non-profit property management, (and all condominiums operate like a non-profit organization) we review the documents you will receive from the seller, will give you a written report and meet with you to review the report and answer the questions you may have.  We want you to be confident in your purchase, so we will not only review the report, but will also walk you through how a condominium works.  We help you not only understand the particular project you are looking at, but also help you understand the qualities that make owning a condominium so unique.

We check out the documents BEFORE you remove conditions.  Think of a Condominium Document Review as a Home Inspection – except – we look at the health and well-being of the condominium corporation. We examine how well the corporation manages the common property, so you can avoid unexpected costs and headaches. While our job is not to recommend whether you purchase this property or not, (we leave that to you and your Realtor) we aim to give you the tools to make an informed decision whether this is a condominium corporation you want to buy into. We think knowing what you are buying into is just smart.

Once we have all the documents, we will generate a report outlining our findings.  We look at the:

Condo Plan and title By-laws Minutes of the Board and the AGM (Annual General Meeting) The Financials – current and annual Reserve Fund Study, Report and Plan Mechanical and Structural  Reports Any Agreements Insurance

And then we will meet with you to go over the findings and answer your questions.

DOCUMENT REVIEW FOR CURRENT CONDO OWNERS
Our service is not only limited to new purchasers of condominiums.  We will provide the same service to current owners.  Knowing how well your condominium corporation is managing your share of the common assets can give you peace of mind.

 

SELF MANAGEMENT HELP PROGRAM
We know that many condominium corporations are choosing to self manage and we want to help you develop the strategies that will make the challenge as painless as possible and at a price that still makes self management viable. We will help you:

Explore ways to recruit new Board members Run effective (and short) Board meetings Develop strategies that will result in fewer Board meetings and unit owners. Develop financial systems that are simple and easy to understand. Help wading through the legal requirements Be your resource  - someone to turn to when you have questions.