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$14M Special Assessments Or: How I Learned To Stop Worrying And Take Condo Governance Seriously

Author: 
Tony Bui
Publication date:
January 28, 2022
Article Summary: 

A Toronto condominium has levied a $14 million special assessment, with each of the 321 units being given 15 days to pay between $30,000 to $42,500. The building requires significant structural repairs, and its finances are in disarray, owing nearly $9 million in debt. The article emphasizes the importance of reasonable fee increases, adopting a Code of Ethics, and staying informed about condominium affairs. The writer suggests that proactive and informed actions can help avoid such predicaments.

Keywords: 

Toronto, condominium, special assessment, structural repairs, debt, Code of Ethics, informed, and proactive.

Source Citation: 
Tony Bui
$14M Special Assessments Or: How I Learned To Stop Worrying And Take Condo Governance Seriously
January 28, 2022
https://www.lexblog.com/2022/01/28/14mm-special-assessments-or-how-i-learned-to-stop-worrying-and-take-condo-governance-seriously/
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