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Tag Archive for: Condo Resources

Revisiting Inflation – Where are we now?

May 30, 2024/in Educational

It’s been almost 2 years since we last talked about inflation – back in the summer of 2022 the consumer price index had just increased by 7.7% year over ear, with residential construction prices increasing by a whopping 26.5% year over year in Toronto. So where is inflation now and how is it effecting our condominiums?

 

Beyond its more visible day-to-day effects; inflation can have a significant impact on condominium budgets and on the overall health of your reserve fund. Boards, property managers and engineers are grappling with the need to maintain condominium buildings, while minimizing cost increases that many residents cannot afford. Over the past 2 years the consumer price index slowed to an annual increase of 4.3% last year (March 2022 to March 2023) and 2.9% this year (March 2023 to March 2024) (i), with residential construction prices in Toronto increasing 17.6% last year (Q1 2022 to Q1 2023), and 7.6% in this year (Q1 2023 to Q1 2024) (ii).

 

These are still huge cost increases, but how is it impacting us locally? Residential construction price indexes are primarily skewed by new condominium construction prices, as those projects dwarf the repair/restoration construction sector (fixing existing condominiums). Since interest rates have increased, the number of new homes being constructed has fallen – by 12% in Toronto over the past year (iii). Anecdotally we have noticed this has begun to drop the costs of condominium repair/restoration construction projects throughout the Grand River area due to a few factors:

 

1. Reduced new construction is reducing workload for manufacturers (IE Windows) who are now dropping prices, and lead times for items such as insulated glass units are dropping from approximately 10-12 weeks in 2022 to 4-6 weeks now.

2. Fewer new construction projects is reducing workload for labourers, resulting in some construction staff who work in the new construction field to move into the restoration construction sector, reducing wage pressures.

3. Various industries are cutting back on construction spending (financial institutions, universities and colleges, existing condominiums) meaning that trades are offering discounts, or taking on projects at a loss to keep their staff busy.

 

Inflation has profoundly affected the condominium industry in recent years, but recent trends are promising, and we are beginning to see construction projects come in under budget. Although there is no way to eliminate inflation’s influence on your condominium, now may be the time to re-check pricing for that important project you have been considering.

 

 

Jordan Swail, BESc, P.Eng., BSS,

Associate,

rjc.ca

Explore our Previous Blogs.

https://cci-grc.ca/wp-content/uploads/2024/05/Blog-Titles-CCI-GR-4.png 938 2344 Ariel P https://cci-grc.ca/wp-content/uploads/2023/09/CCI-Full-Logo-Grand-River-31ae3da81a2928943167b28ecdb52b1f-300x103.jpg Ariel P2024-05-30 09:55:202024-05-30 09:55:00Revisiting Inflation – Where are we now?

Spring Preparation Checklist for Condominium Corporations: Essential Planning Steps

February 15, 2024/in Educational

As the winter frost begins to thaw and signs of spring emerge, condominium corporations must gear up for the seasonal transition to ensure the smooth functioning and well-being of their properties. Spring brings its own set of challenges and opportunities, making proactive planning essential for maintaining the integrity and attractiveness of the condominium complex. Here’s a comprehensive checklist outlining the crucial planning steps that condominium corporations should undertake in preparation for spring.

Landscaping Assessment and Maintenance:

Spring marks the revival of landscaping activities. Conduct a thorough assessment of the property’s green spaces, including lawns, gardens, and shrubbery. Identify any damage caused by winter weather, such as frost heave or fallen branches, and prioritize cleanup and repair tasks. Schedule lawn care services, pruning sessions, and mulching to rejuvenate the outdoor areas and enhance curb appeal.

Irrigation System Inspection:

Verify the functionality of the irrigation system to ensure it operates efficiently during the upcoming warmer months. Inspect for leaks, clogs, or damaged components that may compromise water distribution. Adjust watering schedules according to seasonal needs, considering factors like increased rainfall and rising temperatures. Implement any necessary repairs or upgrades to optimize water conservation and maintain healthy vegetation.

Exterior Building Maintenance:

Spring is an ideal time to address any exterior maintenance issues accumulated over the winter. Conduct a detailed inspection of the building facade, roof, windows, and doors for signs of wear, damage, or deterioration. Address any cracks, gaps, or sealant failures to prevent moisture intrusion and maintain structural integrity. Schedule professional cleaning services to remove dirt, grime, and debris, enhancing the aesthetic appeal of the property.

HVAC System Tune-Up:

Prepare the heating, ventilation, and air conditioning (HVAC) systems for the transition from heating to cooling mode. Schedule routine maintenance checks, filter replacements, and duct cleaning to optimize system efficiency and indoor air quality. Verify thermostat settings and adjust temperature controls accordingly to ensure occupant comfort while minimizing energy consumption. Consider investing in programmable thermostats or smart HVAC technologies for greater control and energy savings.

Pest Control Measures:

With the arrival of warmer weather, pests such as insects, rodents, and birds become more active, posing potential threats to the condominium complex. Implement preventive pest control measures, such as sealing entry points, installing screens, and conducting regular inspections. Consider partnering with professional pest management services to develop a comprehensive integrated pest management (IPM) plan tailored to the property’s specific needs and environmental considerations.

Common Area Cleaning and Sanitization:

Prioritize the cleanliness and sanitation of common areas, including lobbies, hallways, elevators, and recreational facilities. Develop a spring-cleaning schedule to address dust accumulation, disinfect high-touch surfaces, and remove clutter or debris. Promote resident awareness and participation in maintaining cleanliness standards through communication channels and community initiatives. Consider incorporating environmentally friendly cleaning products and practices to minimize ecological impact.

Emergency Preparedness Review:

Reassess the condominium corporation’s emergency preparedness protocols and procedures in anticipation of spring-related hazards, such as storms, floods, or power outages. Update emergency contact information, evacuation routes, and disaster response plans as necessary. Conduct training sessions or drills to familiarize residents and staff with emergency protocols and promote a culture of safety and preparedness within the community.

Budget Planning and Allocation:

Review the condominium corporation’s budgetary allocations for spring maintenance and improvement projects. Prioritize essential tasks based on urgency, compliance requirements, and community priorities. Seek competitive bids from qualified contractors or service providers for larger-scale projects to ensure cost-effectiveness and quality assurance. Allocate sufficient resources for contingency funds to address unforeseen expenses or emergency repairs.

Community Engagement and Communication:

Foster open communication and collaboration among residents, board members, property managers, and service providers throughout the spring preparation process. Keep stakeholders informed of planned activities, timelines, and expectations through regular updates, newsletters, and community meetings. Encourage feedback, suggestions, and participation in decision-making processes to promote a sense of ownership and investment in the condominium community’s well-being.

Environmental Sustainability Initiatives:

Embrace environmentally sustainable practices and initiatives to reduce the ecological footprint of the condominium complex. Explore opportunities for energy efficiency upgrades, water conservation measures, waste reduction strategies, and green landscaping techniques. Educate residents on sustainable living habits and promote eco-friendly behaviours through awareness campaigns, recycling programs, and community initiatives.

Garage Power Wash:

Start the spring season off with a clean slate by scheduling a thorough power wash of the parking garage. Over the winter months, salt, sand, and debris may have accumulated, leaving behind unsightly stains and grime. A power wash not only enhances the appearance of the garage but also helps to prolong the lifespan of the surface by removing corrosive materials.

Catch Basin Cleaning:

Prevent potential flooding and drainage issues by cleaning out catch basins before the spring rains arrive. Remove any debris, leaves, or sediment that may have accumulated over the winter, hindering proper water flow. Regular catch basin maintenance helps prevent water pooling and minimizes the risk of property damage during heavy rainfall.

Windows Washing:

Restore clarity and brightness to the condominium complex by scheduling a professional window-washing service. Clean windows not only improve the overall appearance of the building but also allow more natural light to enter indoor spaces, creating a welcoming environment for residents and visitors.

Outdoor Pool Startup:

Get ready to make a splash by initiating the startup process for the outdoor pool. Conduct a comprehensive inspection of the pool equipment, including pumps, filters, and heaters, to ensure they are in proper working condition. Balance water chemistry, remove debris, and install safety equipment such as lifeguard stands and signage as necessary.

Garbage Bins and Chute Cleaning:

Maintain cleanliness and hygiene within the condominium complex by cleaning and sanitizing garbage bins and chutes. Remove any accumulated waste, debris, or foul odours to prevent pest infestations and maintain a pleasant living environment for residents. Implement a regular cleaning schedule to ensure ongoing cleanliness throughout the year.

Asphalt Repair:

Address any potholes, cracks, or surface damage on the asphalt driveways, pathways, and parking lots. Schedule asphalt repair and resurfacing services to restore the integrity and safety of the surfaces. Prompt repairs help prevent further deterioration and minimize liabilities associated with trip hazards and vehicle damage.

Parking Lines Repainting:

Refresh the parking lines in the garage and outdoor parking areas with a fresh coat of paint. Clear and visible parking lines help optimize parking space usage, improve traffic flow, and enhance safety within the condominium complex. Ensure that the repainting is done in compliance with local regulations and accessibility standards.

Roof and Balcony Inspection:

Protect the structural integrity of the condominium complex by conducting a thorough inspection of the roof and balconies. Look for signs of damage, leaks, or deterioration caused by winter weather conditions. Repair any loose shingles, damaged flashing, or deteriorated seals to prevent water infiltration and maintain a watertight envelope.

In conclusion, proactive planning and timely maintenance are essential for preparing a condominium corporation for the arrival of spring. By following this comprehensive checklist and taking proactive planning steps, condominium corporations can effectively prepare for the arrival of spring, ensuring the safety, functionality, and attractiveness of their properties for residents and visitors alike. Spring presents a prime opportunity for renewal, rejuvenation, and community engagement, setting the stage for a vibrant and thriving condominium community throughout the season and beyond.

 

 

 

 

 

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Condominium Professionals

Helpful Resources for Condominium Owners

April 28, 2022/in Educational
Condominium industry research

When an owner has a question related to their condominium and/or condominium living in general, their first instinct is to likely seek out an answer for themselves. Below outlines many of the helpful resources that an owner could make use of while undertaking review of a question or concern with respect to a condominium in the province of Ontario.

A search in other areas of Canada or North America may provide insight into a relevant matter, but due to differing laws, the resource from outside Ontario may provide improper information if taken into consideration in Ontario. Always remember to ensure any resources are applicable in the province of Ontario.

  • An owner’s most direct resource would always be their corporation’s governing documents, including the declaration, by-laws, and rules. These documents will apply directly to your corporation.
  • The next resource would be the Condominium Authority of Ontario resource page located at the link provided below. This webpage contains multiple links for various matters along with forms you may require while undertaking an informational review of your corporation. https://www.condoauthorityontario.ca/resources/
  • Let’s not forgot a call to your corporation’s manager could, depending on the inquiry, be a simple conversation to resolve a concern or question.
  • Another great resource especially with broader questions or scope would be the Condominium Act, 1998, S.O. 1998, c. 19, which can be found in its current version at https://www.ontario.ca/laws/statute/98c19
  • If you need additional information as it relates to managers and/or the management of your corporation, a great resource would be the Condominium Management Regulatory Authority of Ontario website, which can be found at https://cmrao.ca/
  • National, regional, or local condominium association websites and/or meetings when available are a great resource of information and presentations that are typically accessible and searchable online with tools such as Google, or by way of direct links. This includes our own CCI website: https://cci-grc.ca/
  • Much of the time with a specific online search you will encounter legal articles or law blogs pertaining to your inquiry. This information can certainly provide clarity with respect to applicable matters but should be qualified as factual or merely opinions relating to a specific topic. Regardless, this type of information can be helpful when reviewing a topic.
Condominium professionals

The above-noted resources are likely where you will be able to find useful information as it relates to condominiums and condominiums living in Ontario.

If further research is required beyond the above, a person may need advice or information that is very specific or direct in nature and should seek the advice of a professional in the applicable field.

Corey Sargeant, President G3 Properties

Corey Sargeant
President, G3 Property Solutions Ltd
www.g3propertysolutions.ca

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