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Condo Conflicts, Contracts and Kickbacks

Author: 
Patrick Greco
Publication date:
October 11, 2019
Article Summary: 

This article delves into the topic of kickbacks and conflicts of interest within the condominium industry. It covers the highlights of an educational event organized by CCI Toronto in June 2019, where experts discussed the importance of avoiding conflicts of interest and ensuring transparency in contract dealings. The article emphasizes the significance of properly-minuted board deliberations and closed bidding for substantial contracts to prevent kickbacks. Property managers are also advised to have clear policies in place to protect their reputation and ensure actions are in the best interest of the condominium corporation and its unit owners. The session also explores the provisions of the Condominium Act regarding director conflicts of interest and the broad powers of the Condominium Management Regulatory Authority of Ontario (CMRAO) to investigate property manager conflicts. The discussion concludes with the need for ongoing dialogue and awareness about this critical issue within the condominium industry.

Keywords: 

Condominium Industry, Kickbacks, Conflicts of Interest, Transparency, Ethics, Educational Event, Board Deliberations, Closed Bidding, Property Managers, Condominium Act, Condominium Management Services Act, CMRAO, Contract Dealing, Board Members, Director Conflicts, Property Manager Conflicts, CCI Toronto.




Source Citation: 
Patrick Greco
Condo Conflicts, Contracts and Kickbacks
October 11, 2019
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