As the adage goes, good fences make good neighbours. But for condo dwellers, when all that separates your living space with the one next door is a single wall, you’re bound to butt heads. With real estate in the core at a premium, prospective homebuyers are exploring the realities of condominiums—whether apartment-style complexes, three-story walkups or townhouses. They offer the opportunity to own a slice of our city’s burgeoning central neighbourhoods, but shared living spaces require a special type of cooperation.
The condo board. It’s both the first line of defence for issues that may arise and the first source of frustration for new owners. A well-run committee can improve your quality of life, but few board members are experts in conflict and financial management. “If the condo board isn’t doing their job, it will be reflected in the corporation’s condo documents and reserve fund study, which is required to be updated every five years,” says Anand Sharma, president of the Canadian Condominium Institute North Alberta Chapter. “These documents tell you how the condo board is saving money, how they are allocating their money for capital projects, and whether they are acting efficiently.” It all comes down to a cohesive and well-run board.
Though not many people actually enjoy the monotony of balancing budgets, and only a sadist would enjoy breaking the news that everyone must pitch in for a new elevator. Hiring a management company instead of self-governing might formalize the process and ease the board’s administration duties but it’s the elected board of directors who make the decisions, says Sharma. “But at the end of the day, the buck stops with the board.” So what makes a healthy board?
Like any good relationship, open lines of communication are key. Still, balancing the wants of everyone in the building is hard. “You are interacting with people that you don’t see everyday. It can be hard to get a read on people, or to tell another grown adult to do something without coming across as bossy,” says Matthew Garrett, who has served on his petite building’s five-unit board since moving in, in 2014. Joining your condo board shouldn’t be as painful as a bikini wax from a first-year cosmetology student. If your corporation is willing to work together, the process of governing can actually be pleasant.
“I don’t necessarily like to be in control of everything, but I like to have a say in my own destiny,” says Jeff Johnston, who served as his former condo’s president for four years. Even in the midst of overseeing a major structural repair to the building’s foundation, he found it to be incredibly rewarding. They regularly met in someone’s suite to discuss goings-on in the building or the neighbourhood. “It wasn’t all drudgery,” he says. “The meetings were quite fun, and it helped us to build a community.”
Now doesn’t that sound nice? That’s why we’ve prepared a comprehensive breakdown of every issue, foreign word and colourful character you might encounter on your path to harmonious homeownership in the core.
The Yards Guide to Navigating Condo Ownership