Ethics, cash flow, aging buildings top condo concerns

Aging buildings, condominium board ethics and keeping cash flowing during financially difficult times were among the topics covered at the 13th annual Condominium Conference, “From The Foundation Up”, held recently in Markham, Ont.

More than 750 delegates attended the conference. Seminar topics, delivered by 67 experts, ranged from condominium board conduct to insurance to the Tarion Warranty Corp. More than 100 exhibitors showcased condominium-tailored products and services that ran the gamut from green and energy efficient products to security solutions.

Speakers included MPP Jim Brownell, the key government affairs contact for the Joint ACMO/CCI Government Relations committee regarding condominium issues, including the Harmonized Sales Tax and review of the Condominium Act. Brownell said that the proposed HST, though widely opposed by the condominium industry, will provide some positive benefits once implemented.

Condominium board conduct and ethics, a popular topic, was discussed by a panel that included Superior Court Justice John Macdonald, who advised on best procedures and practices for the boardroom and how to know if your board is acting properly and abiding by the Code of Ethics.

A seasoned group of experts discussed the concept of branding a condominium building to maintain its individual character and offered ideas to maintain or improve the corporation’s brand.

A panel of speakers including condominium board member and former Toronto City Councilor Gordon Chong offered tips on keeping the cash flowing during recessionary times. Topics included collecting common expense contributions, dealing with unit owners who are in financial difficulty, special assessments during difficult times and negotiating service contracts.

With the aging of buildings and deterioration of major components, a reality all condominium boards will eventually face, another session offered advice on how to prioritize repairs, leverage energy efficiency opportunities and establish effective contract management.

Next year’s conference will be held Nov. 5 and 6, 2010.