What do my condo fees cover?
Your condo fees cover the maintenance of the common elements of the Corporation. The common elements include the common areas of the Corporation. Some examples include parking garages, hallways, patios/balconies and often landscaping depending on the type of Condominium. The Declaration, in Schedule D, shows the percentage each owner contributes to the budget. The percentage is often calculated based on square footage of the units.
What methods of payment do you accept for condo fees?
A number of our Corporations have opted into a Pre-Authorized Debit (PAD) payment system. If you are unsure if your Corporation is set up for PAD please contact our office and we can confirm this and provide you with the required form to set-up payments.
If you Corporation is not set-up with PAD the preferred payment method is post-dated cheques made payable to your Condominium Corporation (not Genedco). Cheques should only be supplied to cover the rest of your Condominium’s fiscal year. If you are unsure what the fiscal period is for your Condominium please check in with the office to prevent wasting cheques. If cheques are not an option for you cash can be taken in the office but we do not carry change so please bring the exact amount.
When are condo fees due?
Condo fees are due on the 1st day of the month. It is automatically deemed late on the 2nd day of the month. If payment is not made the accounting department will be in touch to collect your payment. Please note that Condo fees are required to keep the property maintained. It is the sole source of income for a Corporation. If fees are not paid than the Corporation cannot maintain the property or pay the contractors who do the work.
What are the possible consequences of overdue condo fee payments?
Once condo fees hit 2 months in arrears a Notice of Lien is sent providing you with 10 days to make a payment otherwise a Lien can be registered on your unit and is registered on title. A registered Lien adds further legal amounts to your account which will need to be paid off before the Lien will be discharged. Although this is not a route we like to take we are required to protect the interests of the Condominium. If a unit has a registered Lien on it and arrears continue to accumulate a Corporation is in a position it can place a Power of Sale on your unit.
Do I require insurance on my unit since the Condominium has insurance?
Yes, you do require insurance on your unit and this is stipulated in the Declaration of your Corporation. The insurance you obtain essentially covers the interior of the unit and the Corporation insurance covers the exterior and common areas. To further clarify what insurance is required in your case please review your Corporation’s Declaration and any Standard Unit By-Laws.
How do I submit a request for repairs?
A written request can be made in person in the office or you can submit the form that is found on our website. You can also email requests directly to email@example.com. We ask that you submit your request in writing to ensure there is no misunderstanding in the information provided and that way you are able to ensure your request is received with as much details as you can provide. The more detail provided ensures prompter remedy.
I have an emergency that requires prompt attention. What should I do?
If necessary call 911 and then please call our office immediately. During regular office hours our staff is ready to help and for after hours please notify our 24hr emergency service that it is an emergency and they can reach the on-call staff member to ensure prompt attention to the matter.
Can a Genedco Property Management employee enter my unit?
Yes, but only with your authorization, unless it is an emergency situation. An example would be a leak in the unit below and in that case the office will attempt to reach you first and if we are unable to reach you we will enter your unit to assess the situation and to ensure the situation is remedied to prevent damage to the Common Elements or another unit.
What do I need to do if I have sold my unit?
Please ensure to advise our office of the closing date of your sale as well the names of the new owners if you have them or the lawyer you have used so we have information to reach the new owners if they do not get in contact with us. Also, if you are on pre-authorized payment please submit in writing a request to cancel your pre-authorized payments as of the closing date. If post-dated cheques were provided please stop in to pick up the rest of your cheques or contact our office to provide authorization to shred the remaining cheques. Any cheques still on file after the closing date will be shredded.
What do I need to do if I rent my unit?
Under Section 83 of The Condominium Act owners are required to notify the Corporation within 10 days of renting the unit out of the information on the tenant. A tenant information form can be found on our Forms page. In addition, an updated owner information form should be supplied to ensure we have your address for service and contact information to ensure you receive correspondence from us.
What is the role of the Board of Directors and how do I become a Director?
Directors are the decision makers of the Corporation. They act on behalf of all owners to make decisions on what is done at the Property. Boards meet anywhere from a couple of times a year to every month depending on the Board. A few of the tasks Boards are responsible for are setting the budget, making and amending rules and deciding what work is done. If you are interested in being on the Board for your Corporation please contact our office and we can advise you if there is a vacancy on the Board and if not when the next Annual Meeting is that you would be able to put your name forward at. Please also note that to be a Director you must take mandated Director Training and set up an account with the CAO with an email account.
What are my responsibilities as an owner? What happens if I do not carry out my responsibilities?
Owner responsibilities can be found in detail in your Corporation’s Declaration. In most cases these include, but are not limited to, paying condo fees, being responsible for the action of all occupants of your unit, maintaining and repairing your unit, following the Declaration, By-Laws and Rules of the Corporation and carrying insurance on your unit. If for example an owner parks on the lawn of the Corporation and damages the lawn the Corporation can have the lawn repaired and charge the owner for the repair if it is not done after a request to have the repair done is not adhered to. Also, if a tenant in your unit is continually breaking the rules you can be asked to have the tenant removed.
My snow hasn’t been cleared, what should I do?
As you can understand when a snowfall happens the contractors are very busy and must get to all of the properties, they clear snow for. The usual practice is that the plow comes around first and does the main laneway, driveway area. They will then come back and clear the walkways if they do them at your property. Please note that in outdoor parking areas the contractors will not plow between vehicles due to liability. After a snow storm we appreciate your patience with our contractors as they do their best to get everyone looked after as promptly and safely as possible.
I want to make a change to the inside of the unit, what do I need to do?
You should always contact our office to verify if the type of change you are doing requires the Boards approval and if a special request must be made. If a structural change is being asked for you will be asked for drawings by an architect to ensure that load bearing walls are not affected by the change.
We hope that we have covered all of your questions but if there is still information you are in need of please contact the appropriate staff member above and we would be happy to assist.
We look forward to working with you and providing you with outstanding service and outstanding results!