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09/08/2022
The search for a good condo manager is like the quest for a good wine! Should you try several before finding the right one? At the risk of having stomach disorders. Or rather, it is necessary to know before the search for the right nectar the quality criteria that are flexibility, intensity, clarity ... Well, let's go! Let's do like the tasters and look for the best qualities in French co-ownership manager (syndic), Quebecois co-ownership manager and why not elsewhere? Even in China because there are also Chinese co-ownership facing the same problem of quality research of the manager! Here are the quality criteria of the syndic of co-ownership as they are seen on the side of France: ...
09/08/2022
A syndicate of co-owners has the obligation to account for its operations by funds. The Civil Code of Québec requires the creation of a general fund, a contingency fund and in April 2022, the creation of the self-insurance fund. The creation of the early self-insurance fund is recommended. The general fund for current operations is also sometimes referred to as an administration fund or an administration fund....
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09/08/2022
December 23, 2021- As an employer, a syndicate of co-ownership has a right of management with respect to its employees, that is to say the right to direct them. This right of management must, however, be exercised in compliance with employment rules. It starts in the hiring process Leading staff is much more than just assigning tasks to the employee. A good employer/employee relationship is created from the hiring process. Experience and job references are important points to consider, as well as the motivation, skills and background of the candidate, in order to select well. This step should not be overlooked....
09/08/2022
October 3, 2021 - When it comes to determining the insurance premium based on the insurance value of a building (for insurance purposes), the broker or insurer will require his client to provide the cost of "reconstruction". Indeed, this premium is established according to the risks which are attributable to the building and the premises, but also according to the cost of reconstruction. We obviously understand that after a disaster we have to rebuild the damaged places, but the concept goes far beyond reconstruction. Indeed, the cost of reconstruction is impacted by contingencies and difficulties in restoring the inventory to its original condition. Think for example of the work involved in replacing a broken ceramic tile, on the wall or the floor, it goes without saying that this also involves the replacement of other tiles around, damaged by the work. ...
09/08/2022
March 10th 2022 - The pre-acceptance inspection is a critical step in the process of acquiring a new property. A thorough and careful inspection is the best way to protect buyers from any unforeseen issues. In this article, we will tell you everything you need to know about the pre-acceptance inspection of the private portions and common areas of your co-owned property. LITTLE REMINDER : Let us start by reminding you that in the new co-owned property market, the mandatory guarantee plan administered by Garantie de construction résidentielle (GCR) covers buildings held in divided co-ownership that have no more than four private portions stacked one above the other, as well as detached, semi-detached or row-type single-family houses held in co-ownership. “Condo towers” are not covered by the mandatory guarantee plan....
01/03/2022
In theory, your co-ownership doesn't necessarily need a Chartered Professional Accountant to present its financial information, whether it's financial statements, financial forecasts or financing applications. Competent administrators or a manager could do the work and present the required financial information well. However, the need may arise if the co-owners have doubts about the work, skills or honesty of the board members. The internal reports submitted to the co-owners may also be absent or deficient....
21/02/2022
February 22, 2022 - The archives of a co-ownership are a set of documents kept being able to manage the building, prove rights or testify to certain activities. I am sometimes asked for how long documents filed in the co-ownership register should be kept by the syndicate. This is a fair question, since the legislator has given no explicit directions on this subject in the Civil Code. It could be that its silence means, "You must keep everything, permanently !” As far as I am concerned, I rather lean in that direction....
17/11/2021
November 18, 2021- When it comes to hiring labour in a co-ownership, many directors think that it would be simpler and less expensive if it were provided by contract that the janitor, for example, would be considered a "self-employed". By doing so, it would not be appropriate to deduct deductions for tax purposes, or contributions to Employment Insurance or the Québec Pension Plan (QPP) at source. In addition, it is believed that this avoids red tape and contributions to the Commission des normes, de l'équité, de la santé et de la sécurité du travail (CNESST). In short, it costs less and everyone is happy......
05/11/2021
November 10, 2021 - It's well known, Covid has been blamed for a lot. Your favorite restaurant is now closed three days a week? It's because of Covid. There's a two-hour wait to talk to a representative at a call center? It's because of Covid. Is there a chlorine shortage for the pool? It's Covid's fault. Hurry up and buy your winter tires, Christmas toys, and storage cabinet because all of this might soon be in short supply because of... Covid! And what does your condo have to do with all this? Well, know that whether made of wood or concrete, tall or long, no condo will be able to avoid Covid......
03/11/2021
November 3, 2021— It is clear that confusion still persists today with the concepts of market value and insurance value. Indeed, many people and stakeholders in the real estate field do not distinguish between these two values, as well as between the concepts of replacement cost and reproduction cost, or even between the cost of new construction and the cost of reconstruction. But, first of all, how to distinguish the market value from the insurance value? Let us try here to disentangle all that. ...