Today, co-ownership associations must face several major challenges that impact the management and sustainability of buildings. Rigorous planning and professional support have become essential to overcome these challenges.
Aging buildings and management of major works
Many buildings are aging and require major renovations to ensure their safety and durability. The deterioration of infrastructure (roof, windows, facades, underground parking, etc.) results in high repair costs, often unforeseen when no rigorous planning has been put in place. Without proactive management and structured monitoring of the maintenance log, these works can become real financial crises for the syndicates.
Undercontribution of contingency funds and lack of financial planning
One of the most worrying problems in co-ownership is the undercontribution of contingency funds. For years, many syndicates have maintained contributions that are too low to limit common expenses, thus creating a major financial imbalance. With the entry into force of new regulations, such as Bill 16, syndicates will now have to adequately plan and finance the maintenance of their building.
Without rigorous financial management, many co-ownerships find themselves forced to impose special contributions on co-owners to cover foreseeable work. Structured support from financial management experts can avoid these situations and optimize investment returns to ensure long-term financial stability.
Increasing complexity of volunteer directors’ obligations
Co-ownership syndicate directors are, in the majority of cases, volunteers. However, the legal and administrative requirements incumbent on them are increasingly onerous. Setting up the mandatory maintenance logbook, legal inspections, insurance and claims management, compliance with tax laws and contractual obligations are all responsibilities that require in-depth knowledge.
Bill 16 and Bill 141 have strengthened and/or will strengthen these requirements, transforming the role of director into a true management function, often without adequate training or expertise. Without professional support, many directors may feel overwhelmed, which can lead to management errors and ill-informed decision-making.
Claims and maintenance contract management
Water damage and other claims in co-ownerships are increasingly common and require rapid and efficient management. Coordinating contractor interventions, collaborating with insurance companies, negotiating compensation and ensuring that work is carried out correctly are complex tasks that require technical and legal expertise.
A good co-ownership manager plays a key role in ensuring a rapid response to claims and implementing preventive strategies such as installing water leak detection systems or optimizing maintenance contracts. In addition, by negotiating group agreements with suppliers, an experienced manager allows syndicates to reduce their costs and access better quality services.
Guillaume Leblond, Vice-President Finance and Administration
Lafrance et Mathieu
1220 Boulevard Lebourgneuf
Office 150
Québec (Québec) G2K 2G4
Tel. : (418) 626-5500 #225
E-mail : [email protected]
