One of the great things about condominium living and ownership is that your home is your castle. Your sanctuary. Your escape from the rigors and pressures of the outside world. When you come back to your condo at the end of the day, you are the master of your own domain.
If you’ve got some cash burning a hole in your pocket and are on the lookout for sound investment opportunities, then condo real estate could be the right opportunity for you! Putting money down on an investment property is a great way to build some equity,
One of the most useful tools a condominium has to plan for the future is the humble reserve fund study. If you’re sitting at your computer, scratching your head and trying to recall just what exactly a reserve fund study is, don’t worry, we’re here for you.
If you’ve ever rented out your condo before, you know that finding a decent tenant can feel something like winning the lottery. Leasing out your property is a nerve-wracking experience, and nothing is more anxiety-inducing than feeling like the folks you’ve got living in your condo might not be taking the greatest care of your …
Condo living is changing. The world in 2018 is a very different place than it was even just five years ago: virtual reality is now commonplace, we all carry supercomputers around in our pockets called “Smartphones,” and eccentric billionaires are launching their electric cars into space!
Reserve Fund Studies (RFS) are crucial for supporting a healthy lifecycle of any building. The issue with how many RFS’s are conducted is that, while they should be conducted and updated every five years, they then remain stagnant and quickly become outdated. This means that there will always be a margin of error that continues …
Solar power as a renewable energy resource has taken huge strides in the past few years. In fact, due to current government funding, it’s now even more economically feasible to install a complete solar system that can operate. In fact, it’s also now cheaper to produce solar energy than energy from fossil fuels, due to …
At Catalyst, industry innovation drives us to continue improving how we support our condo property management clients. Part of this involves viewing condo buildings as an interconnected environment, identifying how to tie together building maintenance planning with capital planning efforts. The end goal? To help our clients better utilize their resources. To support our condo …
Inherited some property? Perhaps you received big promotion at work and have a bit of extra cash? Or maybe you just feel like you’ve got too much free time on your hands?
A new year always ushers in new changes, and even though we’re only a month into 2018, we’re already seeing some key trends emerging within the Calgary condo market. Like all trends,
Is your condo building thinking about going green this year? And no, we don’t just mean adding a healthy coat of green paint on your condo’s walls. Here, green is a blanket term for those initiatives your condo corporation
In January 2017, seniors’ advocate Ruth Adria argued in the Alberta courts for more fair and equal treatment of people in our province, regardless of their age. Adria’s intentions were to set the groundwork for the more equitable treatment of seniors as they age,
Condo living is typically advertised as “hassle-free living” or “you don’t have to worry about anything, just move in and enjoy life.” Then, because life happens, you need to make an insurance claim with your building,
This is it! The year that you’re going to purchase a condo unit as a rental property and grow your real estate portfolio. And investing in a condominium is a great asset to invest in. Unfortunately, investing in a second property isn’t as simple as purchase and see rewards.
Here at Catalyst Condo Management, we’re big proponents of condo living. What a surprise, right? But, seriously, the blend of communal living, convenience, and general lifestyle that condo living offers is perfect for us,
And just like that, we’re nearing the end of another year. With the New Year just around the corner, wouldn’t it be nice if your condominium’s building maintenance caused as minimal interruption to your condo residents as possible?
Condo change is in the air here in Alberta making it an exciting time to be a condo owner! For years, the government has kicked around the idea of reworking the Condominium Property Act (CPA).
The plain truth is that Alberta is a cyclical economy, where we go through steady boom and bust markets. Markets where everything is happening all the time and then markets where everything is stalled.
If you’ve ever lived in a condo complex, chances are you’ve come to dread walking up to the front door at the end of a long day and seeing that dreaded 8½ X 11 sheet of paper taped to the glass:
It’s pretty clear that the Calgary Real Estate market is going through a change and discovering what it’s “new normal” will be as we come out of the downturn. After years of rapid construction, particularly with condominium buildings,
Buying a home is one of the biggest purchases most individuals will make in their lifetime. With such an important decision comes excitement, nervousness, and of course, stress! Is this the right home for you?
What You Should Expect from Your Property Manager You own a condo unit and are keen to rent it out. Along the way, you realize that you just don’t want to manage everything that goes into renting your condo, such as putting a rental notice
Your condo building isn’t just a place to rest your head. It’s a place that multiple people call home, coming together as part of a community. Just as with every community, it’s important that you know what’s happening to stay on top of key events,
You’re moving into a condo – an experience unlike any other. While some may be of the belief that a condo is a condo is a condo, this is simply not the case. After all, buying a condo is different than renting an apartmentor living in a house with a yard of your own.
Condo Managers and Property Managers are not the same thing. There, we said it. While they are similar, there are clear differentiators that separate these two roles. It’s important that your condo board delineate the differences between the two services to ensure that you and your condo unit owners receive the proper service
A common condo owner / condo board discretion tale: a condo unit owner recently changed their washing machine in their suite. Unfortunately, as the individual unit owner replaced their machine, the hose used to connect to the water supply
Green bins are finally coming to Calgary, bringing a much needed “greenness” to our city. But what does this mean for your condo building? How will your condo manage the aspects of implementing this new program and, once implemented,
What your condo management contract is actually saying In reading your Condominium Management Services Contract, do you feel like it’s not talking to you? “There’s so much jargon,” “it’s full of redundancies, but isn’t saying anything clearly,
We’ve all been around them – the one person who needs to be heard, who always has an opinion and likes to make sure everyone knows it. But, what if this person is doing more damage than good to the overall effectiveness of your condo board?
What condo building in their right mind would spend $1000 on energy efficient light bulbs? Well, those interested in short term pain for long-term sustainable gain. Over the past number of years, “energy efficient” has made its way into everyday conversation.
Renovating a condo is unlike renovating most other properties. Renovating a new condo is also different from revamping an old condo. If you are considering condo renovation, you should be aware of the rules governing renovations in the building.
How Airbnb and short term leasing affects your condo living Your condo unit is your home, so you should be able to do whatever you want with it (that’s legal, of course), right? Not so fast. Part of the role of your condo board is to ensure the security
Without wanting to kill your neighbours You’ve made the leap and sold your home in favour of downsizing to a smaller space. But, what do you do when you no longer have neighbours just beside you, but above and below as well. Living in a high-density
Why your condo corporation needs a registered business number Did you know that your condominium is more than a residence? In reality, your condo is a corporation, similar to that of a non-profit. Yep, that’s right, you’re living in a corporation!
Making real impact from within for your condo building This is it! This is the year you’re joining your Condo Board to become more involved with your condo community. Before you sign up, make sure you understand the realities of what being an effective
When it comes to condo management, it is always recommended to set a code of ethics for the board members. They are required to act in an honest manner and in good faith. As a board member you should act in the best interests of the association.
The ceiling can have a leak or the plumbing may fail. There is no telling when such issues can arise, but they are really inconvenient. If you have a condo management company that offers 24 by 7 repair support, you can remain assured that there is always
Safety is one of the main concerns when managing a condo community. You should be well prepared and take proactive measures to reduce any risks. It is the board’s duty to ensure that building operations are protected and residents’ safety
The choice of the right property management company will have a significant impact on how successfully your community property is managed. Timely payment collections, following maintenance schedule, communicating effectively with residents,
Managing your condo community can be a time-consuming and complex task. Usually, it is the board members who take up all the responsibilities related to the day to day management of the community property. There is a world of a difference
When it comes to creating new policies for your condo association, it is important to keep all points in mind to eliminate any disputes or complex situations. Make sure that everyone including the members and residents fully understand the responsibilities
Managing a condo association board can be a time-consuming task in itself. If you have a medium sized community, condo management can be a full-time job for board members. There are so many ways a condo management company can ease your job
When it comes to repairs and maintenance, condominium residents face lots of uncertainty. If repairs are required in the common areas and apartments, who should be responsible for them. This is frequently occurring issue that can be seen in
Condo boards hold complete responsibilities for managing their community. The board is responsible for managing all fiduciary and financial aspects of all the projects. You can outsource several aspects of your functions to a condo management company,
Raising the annual assessments is simply the most detested steps you can take. It can be even more concerning at a time when the economy is not doing so well. The key to prevent the board from taking this action is to follow other methods to increase
Property maintenance is one of the key services provided by a condo management company. Not every company will be able to meet the highest standards in the industry to address all your maintenance needs while meeting high-quality standards.
Managing a condominium or HOA with a board can be a fulltime job. Even a small condo requires dedicating a lot of time and effort to ensure that keeps running smoothly. If you hire a condo management company, it can make a huge difference in saving you
Condo maintenance is part of the daily operations of condo management. Snow removal is one of the most important tasks and the level of complexity and work involved will depend on many factors. So what should it cost? What are the factors involved
The management needs for a high-rise condo building will be different from those for a small townhouse community. The scope and scale of services provided can vary significantly based on the different needs of the communities. So what should you look
Many Canadians think that special assessments are mandatory. However, that is not the truth. If you have a well-managed condo community, you can rely on your reserve funds as and when it is required. There are ways to prevent special assessments.
Post tension cables are used in concrete construction to add strength to thin and long slabs. This allows more span lengths between support columns. The cables have steel wires within plastic sheath. They are tensioned after pouring concrete,
VERY IMPORTANT changes implemented by CRA effective October 3rd 2016 say that if you sell your primary residence it MUST be reported on your 2016 tax return (hefty penalties apply if you don’t report it). See below. Please feel free to give us
The millennials are expected to make one of the biggest impacts on Canadian real estate market in the near future. The impact could n fact be bigger than what their baby boomer parents made. They make up about 25% of the country’s population and
As rental condos grow in Calgary, finding the right condo management services in Calgary has become a difficult process. Most services perform similar and industry standard processes and functions, making it difficult to differentiate between them.