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Looming Condo Fee Increases

Toronto Condo News
Publication date:
May 23, 2022
Article Summary: 

The Canadian Institute of Actuaries has published a research paper on condominium corporation risk management that provides insight into the status of reserve funds throughout Canada. It states that low reserve fund contributions will likely lead to overwhelming annual increases and require lump-sum payments from owners to cover shortfalls. Reserve fund planning is an area where actuaries are needed to accumulate funds to cover uncertain future payments. Governments should administer a standardized form to condo corporations to gather data so that the situation in the industry can be monitored and adjusted if necessary.


canadian institute of actuaries, condo risk management, reserve fund planning, risk management for condo corporations, condominium reserve funds, condo development, canadian insurance industry

Source Citation: 
Toronto Condo News
Looming Condo Fee Increases
May 23, 2022
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