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Avoid The Band-Aid Solution

Toronto Condo News
Publication date:
November 22, 2022
Article Summary: 

In this article, the author discusses the issue of special assessments in condominium communities that defer major repairs or implement band-aid solutions to keep condo fees low. The article highlights the risks associated with deferring large-scale projects and emphasizes the importance of planning and adequate funding for such projects. The recent collapse of Champlain Towers in Florida is used as an example of the potential consequences of neglecting necessary repairs. The article suggests that communities should prioritize planning and funding for major repairs to avoid the need for special assessments.


condominium communities, special assessments, major repairs, band-aid solutions, condo fees, infrastructure, financial status, planning, reserve fund, Champlain Towers.

Source Citation: 
Toronto Condo News
Avoid The Band-Aid Solution
November 22, 2022
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