Home » How Much Power Does a Condo Board Have?
Condo living in Ontario comes with a unique governance structure, and the Condo Board of Directors holds significant authority to manage the property. Understanding their powers and responsibilities is crucial for both board members and unit owners. At CityTowers, we’re dedicated to providing clarity and support, ensuring your condo community thrives.
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The condo board’s structure and responsibilities are often outlined in By-law No. 1, which typically stipulates the powers of the board and how meetings are conducted. Let’s delve into the key roles:
Board decisions are made at duly called meetings of directors. By-law No. 1 dictates how these meetings are called, typically requiring notice to all directors. Often, there is a set day of the month for regular meetings. However, a majority of the board can call a special meeting with 48 hours’ notice. It is important to know that proxies are not allowed in board meetings. If a quorum is lost during a meeting, the meeting is rendered invalid. Recently, a decision was passed allowing for online board meetings, and no by-law amendment is required for this.
The Ontario Condominium Act and related regulations provide the legal framework for condo board operations. Boards must adhere to these laws to avoid legal challenges. Violations can lead to disputes and even legal action. CityTowers offers support in navigating these legal complexities, ensuring compliance and protecting your investment.
Mandatory training for condo board members is essential for effective governance. This training covers legal obligations, financial management, and best practices. A well-trained board can handle complex issues, improve property value, and enhance the living experience for all owners.
At CityTowers, we’re committed to providing expert Condominium Management and support to both boards and unit owners. If you have any questions or need assistance, don’t hesitate to reach out. We’re here to help you navigate the complexities of condo living and ensure your community thrives.
Financial management - the board is responsible for managing and maintaining the condominium’s financial accounts and budgets. This includes collecting condo fees from unit owners, paying bills, and managing the reserve fund.
Rule enforcement - includes enforcing the rules set by the condo board, such as noise restrictions, pet restrictions, parking regulations, etc.
Maintenance and repairs - it is also the boards’ responsibility to maintain and repair the condo’s common areas and amenities. This includes landscaping, snow removal, and repairs to the building’s exterior.
Insurance - the condominiums board of directors are responsible for purchasing and maintaining insurance for the condo corporation. This includes insurance for common areas, liability insurance, and insurance for the board of directors.
Communication - communication with unit owners and residents includes keeping them informed about upcoming events, board meetings, and changes to the condo's rules and bylaws.
Regular condo board meetings are usually not open to the condo owners; however, condo owners may ask the board to call a meeting under the Condominium Act of Ontario to discuss and/or vote on a specific issue that has come up.
Additionally, the Annual General Meeting (AGM) is open to all owners of the condominium corporation.