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Borrowing Money

Toronto Condo News
Publication date:
July 24, 2021
Article Summary: 

This blog explains the options available to condominium corporations when they require additional funds. These options include increasing monthly condo fees, imposing special assessments, or borrowing money. Borrowing money may be desirable when funds are required immediately, and a borrowing by-law may be needed. The article provides a step-by-step guide for implementing a borrowing by-law, including obtaining an engineering opinion, obtaining financing from lenders, drafting and approving the by-law, and registering it at the Land Registry Office.


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Source Citation: 
Toronto Condo News
Borrowing Money
July 24, 2021
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