Frequently Asked Questions
Apartment units are all housed within a complex that is owned entirely by a single entity, often a Corporation and then leased out to individual tenants. In condominiums, each unit is individually owned and managed by a Corporation Condo Board with the help of a Property Management Company.
Condominium Fees are a monthly expense which all condo Unit Owners pays.
Typically, condo fees generally always include a contribution toward the building’s upkeep and maintenance, but they may also include heat, water, sewer, garbage collection fees, and even electricity and cable TV in some cases, depending on the building. Condo fee payments are also contributed to the Corporation Reserve Fund.
The Reserve Fund is a pool of money that the Condominium Corporation sets aside for, or in anticipation of, major expenses beyond regular maintenance. This reserve is like a savings account that can be accessed for major repairs or for other large unexpected bills.
When buying a condo, always double-check with your real estate agent and the property listing to confirm what utilities are covered by your condo fee and information on the Condominium Corporation Reserve Fund.
If you are interested in a complete breakdown of all fees, consult your provided copy of the Condominium’s Operating Budget.
a) Postdated cheques: You can submit monthly postdated cheques. Please ensure cheques are made payable to the correct Condominium Corporation No. Also remember to include a reference to your unit number, and mail or drop off the cheques to Skyline’s office at #418, 9945-50 St.
b) Pre-Authorized Debts: If you prefer to be set up on pre-authorized payments, please complete the PAD form and submit it, along with a VOID cheque to our office no later than the 25th of the month for the automatic withdrawal on the 1st of the next month. (Please note that not all Condominiums offer this service. Contact Skyline Property Management Inc. to see if your building offers this).
A Board of Directors (also known as the Board) is a group of individuals that run a Condominium Corporation. Board members are usually elected each year by the Unit Owners. Anyone who owns a unit is generally eligible to run for a position on the Board of Directors. At least 2/3 of board members must be unit owners or mortgagees (mortgage lenders).
The role of the Management Company is to administer your Condominium Corporation, in accordance with the Alberta Condominium Act and Amendments. It is their mandate, under restrictions of the Corporation budget, Board policies and Corporation By-Laws, to direct the activities pertaining to the maintenance of all common areas, prepare statutory documents and act as a liaison between the Board of Directors and individual Owners.
A more important function of the Management Company is the development of a professional bond between the Board and the Condominium Management Consultant in order that all problems and recommended solutions are openly and confidentially discussed within the forum of a duly constituted Board meeting.
It is critical that all decisions be rendered by the elected Board of Directors and that those decisions are implemented by the Management Company. The Board can delegate authority to the Management Company; however, it cannot delegate any of its responsibilities under the Act.
In summary, if Owners have any condominium problems, concerns, suggestions, inquiries or questions, they should contact the Management Company. If it is something that requires a Board decision, they will insist that Owners submit their concerns in writing, so the Board as a group can consider and act thereon.
If your Unit has a leak, or any plumbing issues, please contact the Management Company or your Property Manager as soon as possible.
Personal Property i.e., faucet leaking, will be the Owner’s Responsibility. If you are unsure of the scope of work or place affected, please contact Management for further advisement.
Yes. Condo Bylaws are legally binding rules. They set forth the structure of the organization and guide the Board of Directors (“Board”) in the conduct of its business. In simplicity, Bylaws serve similar to an operations manual.
Residents who break the Bylaws of their Corporation, may be subjected to certain sanctions, monetary fines; or eviction in some circumstances.