#Condominium Property Management Calgary

[yycrealestate]

CALGARY TOWNHOMES FOR SALE

CALGARY TOWNHOMES FOR SALE

Opting for a Calgary townhome presents an excellent property choice, seamlessly blending the perks of a condo with the convenience of a detached home. Numerous townhouses in Calgary boast two or more bedrooms and are strategically situated near playgrounds, parks, and schools, making them an ideal choice for families seeking a starter home. Explore the diverse range of available townhomes in Calgary below.For couples seeking a premier initial investment or a contemporary alternative to a single-family home, Calgary townhouses offer enticing features such as private entrances and, in some instances, attached parking. Many of these projects are strategically positioned near the city's finest shopping outlets, restaurants, and entertainment venues, adding to the appeal of Calgary townhomes. Investing in a townhome in Calgary comes with several advantages: - Affordability: Townhomes often offer a more budget-friendly option compared to single-family homes, making them an attractive choice for first-time buyers or investors. - Low Maintenance: Townhomes typically have lower maintenance requirements than detached homes. Exterior maintenance and landscaping may be managed by the homeowners' association, freeing up time for residents. - Amenities and Community: Many townhome complexes come with shared amenities such as parks, playgrounds, and sometimes fitness facilities or community centers. This fosters a sense of community among residents. - Convenient Locations: Townhomes in Calgary are strategically located, offering easy access to urban amenities, public transportation, schools, and recreational areas. This can enhance the overall quality of life for residents. - Space and Flexibility: Townhomes often provide more space than condominiums, with multiple bedrooms and sometimes even private outdoor areas. This extra space can accommodate growing families or those in need of a home office. - Security: Townhome communities often have a sense of security due to shared walls and close-knit neighbors, providing peace of mind for residents. - Investment Potential: Calgary's real estate market has shown stability and growth over the years. Investing in a townhome can offer potential appreciation in property value, making it a sound investment. - Ownership Benefits: Townhomes usually involve owning both the unit and the land it sits on, providing homeowners with a sense of ownership and control over their property. - Modern Features: Many new townhome developments in Calgary come with modern features and designs, catering to contemporary lifestyles and preferences. - Resale Value: Well-maintained townhomes in desirable locations tend to have good resale value, making them a potentially lucrative investment in the long run. Explore Calgary's Diverse Townhomes Market Calgary's townhome market is a dynamic and multifaceted arena, offering a broad spectrum of housing options to cater to the diverse needs of residents. Townhomes in Calgary are renowned for their architectural diversity, featuring a mix of modern designs and more traditional styles. Whether nestled in the heart of the city, providing convenient access to urban amenities, or situated in family-friendly neighborhoods with proximity to parks and schools, these townhomes showcase the versatility of Calgary's real estate. With various sizes and layouts available, from cozy one-bedroom units to spacious three-bedroom homes, Calgary's townhomes accommodate individuals, couples, and families, creating a living experience tailored to different lifestyles.Exploring the townhouse market in Calgary unveils a range of enticing features and benefits. Many townhome developments boast shared amenities like green spaces, playgrounds, fitness centers, and communal rooms, enhancing the overall living experience for residents. The affordability of townhomes, coupled with their lower maintenance requirements and potential for resale value, makes them an attractive option for first-time buyers and investors alike. Whether seeking a modern dwelling in the bustling urban core or a more tranquil residence in the suburbs, Calgary's diverse townhouse market provides ample choices for those looking to find a home that perfectly aligns with their preferences and lifestyle. Read the full article

[katrinashomes]

Downsizing with a Calgary Realtor and Empowering First-Time Buyers

In the heart of Alberta's bustling metropolis, Calgary, a real estate landscape unfolds catering to a diverse array of needs. For those considering downsizing or taking their first steps into homeownership, a knowledgeable Calgary Realtor becomes an invaluable guide, ensuring a smooth transition and empowering individuals to embark on new chapters in their lives.

Downsizing with Grace: Your Calgary Realtor's Expertise

For many homeowners, the prospect of downsizing can be both exciting and challenging. Whether you're empty nesters looking to simplify or individuals seeking a more manageable living space, a Downsizing Calgary Realtor is the key to a seamless transition.

These specialized Realtors understand the unique considerations involved in downsizing. They can help you assess your current needs, identify the most suitable properties, and navigate the emotional aspects of parting with a long-time residence. From determining the optimal time to sell to orchestrating a downsizing plan that suits your lifestyle, a Calgary Realtor dedicated to this niche ensures that the downsizing process is efficient and stress-free.

Calgary First-Time Buyers: A Realtor's Guidance on the Path to Homeownership

For individuals stepping into the real estate market for the first time, Calgary offers a myriad of opportunities. Navigating this landscape, however, can be overwhelming without the guidance of a knowledgeable and experienced Realtor specializing in first-time buyers.

A Calgary First-Time Buyers Realtor serves as an advocate, offering insight into the market, explaining the intricacies of the buying process, and helping clients explore available financing options. From deciphering property listings to coordinating inspections and negotiations, these Realtors are dedicated to empowering first-time buyers with the knowledge and support they need to make informed decisions.

Dual Expertise for Comprehensive Real Estate Solutions

What sets a Calgary Realtor apart is their ability to cater to a wide spectrum of clients, seamlessly transitioning between the needs of downsizers and the aspirations of first-time buyers. Whether you're selling a family home or searching for your inaugural property, these Realtors combine their extensive market knowledge with a client-centric approach to ensure a positive and tailored real estate experience.

Calgary's Diverse Real Estate Landscape

Calgary's real estate market is as diverse as its residents. From modern condominiums in the heart of the city to charming single-family homes in family-friendly neighborhoods, the options are vast. A skilled Calgary Realtor, whether specializing in downsizing or assisting first-time buyers, has a deep understanding of the local market trends, ensuring that clients find the perfect property to suit their unique preferences and lifestyle.

Conclusion: Partnering for Success in Calgary Real Estate

As you embark on the journey of downsizing or venture into homeownership for the first time in Calgary, the guidance of a specialized Realtor is your ticket to a smooth and successful transition. With a wealth of expertise, these professionals provide the insights and support needed to make informed decisions, turning real estate aspirations into reality in the vibrant city of Calgary. Whether you're scaling down or stepping up, trust in the expertise of a dedicated Calgary Realtor to guide you through the exciting world of real estate.

[kellerenginnering-blog]

How to Choose the Right Engineering Consulting Firm for Your Reserve Fund Study

Introduction

For condominium boards, co-op associations, and property managers, planning for the future is essential. One crucial aspect of this planning is conducting a Reserve Fund Study, which assesses the condition of a property and its components while estimating the funds needed for future repairs and replacements. Choosing the right Engineering Consulting Firms Toronto to perform this study is paramount. In this blog, we will guide you through the steps to select the best engineering consulting firm for your Reserve Fund Study.

1. Define Your Needs and Goals

Before you start your search, it's crucial to have a clear understanding of your needs and goals for the Reserve Fund Study. Consider factors such as the size and type of property, the scope of the study (including common elements and exclusive-use areas), and any specific concerns or priorities.

2. Research Potential Firms

Start by compiling a list of engineering consulting firms in your area that specialize in Reserve Fund Studies Calgary. You can ask for recommendations from industry peers, check online directories, or contact your local engineering association for referrals. Ensure that the firms you consider have experience with properties similar to yours.

3. Verify Credentials and Experience

Once you have a list of potential firms, it's essential to verify their credentials and experience. Look for the following:

Professional Engineers: Ensure that the firm's engineers are licensed professionals with expertise in building evaluations and Reserve Fund Studies.

Experience: Review the firm's track record in conducting Reserve Fund Studies for properties similar to yours. Ask for references and case studies.

Insurance: Confirm that the firm carries professional liability insurance to protect against errors and omissions.

4. Interview Potential Firms

Narrow down your list of candidates and schedule interviews with the top firms. During the interviews, ask questions such as:

How do you approach Reserve Fund Studies, and what is your methodology?

Can you provide a detailed outline of the study process, including timelines and milestones?

What technology and tools do you use for inspections and evaluations?

Do you have experience working with our type of property or similar communities?

Can you provide examples of past Reserve Fund Studies you've conducted?

How do you handle unforeseen issues or changes during the study process?

What is your fee structure, and what services are included in the cost?

5. Request Proposals

After the interviews, request written proposals from the firms that meet your criteria. The proposals should outline the scope of work, the timeline, the cost estimate, and any terms and conditions. Carefully review these proposals to ensure they align with your needs and budget.

6. Check References and Past Work

Contact the references provided by the firms and inquire about their experiences working with the consulting firms. Ask about the accuracy of their studies, the quality of communication, and the overall satisfaction with the services provided.

7. Assess Communication and Collaboration

Effective communication and collaboration are vital throughout the Reserve Fund Study process. Evaluate the firm's responsiveness, willingness to address your concerns, and ability to explain complex technical details in a clear and understandable manner.

8. Consider the Long-Term Relationship

A Reserve Fund Study is not a one-time task; it's part of a long-term plan for your property. Consider whether the consulting firm is a good fit for an ongoing partnership, as you may need their services for future updates and studies.

Conclusion

Selecting the right engineering consulting firm for your Reserve Fund Study is a critical decision that can have a lasting impact on the financial health of your property. By defining your needs, researching potential firms, verifying credentials, interviewing candidates, and thoroughly evaluating proposals and references, you can make an informed choice that ensures the accuracy and reliability of your Reserve Fund Study, ultimately benefiting your community's financial stability and peace of mind.

[preconstruction-info]

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[condopropertymanagement]

The Challenges of Condo Management

Condo management is the process of managing condominiums – residential apartment buildings with common areas and a condo association. It's a unique position in the property management industry, and it has its own set of challenges.

It's a complex process that requires specialized knowledge and skills. A well-trained condo manager will work to build and maintain a strong relationship with the community's residents.

The biggest challenge for a condo manager is working with a community that is in a constant state of change and development. They need to be able to adapt and adjust their approach when things become difficult, or new changes occur that will affect the community as a whole.

They must also have excellent communication skills and the ability to handle multiple tasks at once without sacrificing professionalism. For example, if a resident has an emergency pool repair, you may need to focus your attention on that project while also responding to a marketing phone call that comes through at the same time. To know more about condo, visit this website at http://money.cnn.com/interactive/pf/real-estate/micro-apartments/.

One of the best ways to keep the condo community running smoothly is by creating a set of rules and guidelines that everyone adheres to. This will prevent problems from happening in the first place, and it'll also help you to address issues that do arise.

A good condo management calgary company will understand how important a set of rules is to the success of the building. They'll work to create a set of policies and procedures that will be followed by all residents, from the smallest to the largest, and they'll make sure that everyone knows what the rules are.

They'll also have access to tools that can help them stay on top of a community's day-to-day operations. These tools include software that will allow them to track service requests, manage the condo calendar, and create detailed unit files for each resident.

This will enable them to stay on top of things like emergency contracts, pet details, and parking enforcement. This will help them to streamline the processes that go into managing a condo, which can save your community money.

It's also a great idea to choose condominium manager company that has experience with your specific type of condo. The right company will be able to help you with everything from maintenance and negotiating with contractors to dealing with delinquent owners.

You can also find out more about the type of services that a condo management company provides by visiting their website and reading reviews from previous customers. This can give you an idea of how they work, and it'll help you decide if they're a good fit for your condominium.

There are many different companies that offer condo management services. Some of these are very established and long-standing in the industry, while others are up-and-coming.

Some companies that manage condos do so with a full-time staff. The ones that do this have years of experience and will be able to provide the level of customer service that you're looking for.

[ditchthediy]

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[parterreproperty]

Importance of Preventative Maintenance in Condominium Management Calgary

When property investors plan to invest in a condominium, the longevity of components on their property is incredibly important to them. They seek to attain the maximum useful life of condominiums as it can have a significant impact on capital planning. Maintenance is the key to longevity of condominium property management. There are two types of maintenance, preventative maintenance and reactive maintenance. While it is easy to avoid preventative maintenance and fall prey to reactive maintenance, one has to be prepared for unexpected issues can end up costing much more than that of the necessary preventative maintenance activities. In fact, reactive maintenance can be exorbitant and thus it is prudent to use a preventative approach.

Preventative maintenance provides a positive impact on communities living in condominiums. However proper, Condominium Management Calgary is important as it allows for savings on unnecessary repairs, satisfactory living conditions and peace of mind. Preventative maintenance focuses on taking a proactive approach to repairing and replacing components in the condominiums. With preventative approach there is the responsibility of the community components that are routinely maintained. Taking this approach lessens the chances of components of condominiums breaking or failing. Moreover, it also enables one to tackle the issues before they become more serious.

In addition to overseeing the operational and physical well-being of condo communities, condominium property management must handle a number of vital duties. Condo management entails maintaining amenities, enforcing standards, meeting regulations, coordinating board activities, helping owners maximize their investments and more. They have broad and complex list of responsibilities. Yet one of their most time-consuming and difficult responsibilities is managing the preventative maintenance that keeps their properties safe, functional, and aesthetically pleasing.

Preventative maintenance for condo communities is favorable way for condominium management Calgary. Since implementing preventative maintenance allows property managers to allocate funds more efficiently by anticipating and planning for regular upkeep it helps to create accurate budgets, save money, and prevent unexpected financial burdens on condo communities.

As a condominium owner in Calgary, Alberta, it’s important to find the right partner to help you manage your property. Parterre Property Services Inc. is a reliable and efficient condominium management company providing you with peace of mind and allowing you to enjoy the benefits of condominium living without the hassle. 

Parterre Property Services Inc has been providing high-quality condominium management services in Calgary and Edmonton for over 15 years. Their staff of seasoned condominium managers is committed to making sure the properties they oversee are kept up properly and function properly. They handle all aspects of condominium management, from collecting monthly fees and handling maintenance requests to overseeing repairs and communicating with owners.

[rocyfanandez30]

Property Managers Calgary

A property manager for a condo is responsible for day-to day running of a condo complex. This includes coordinating monthly meetings with the association in addition to collecting and disbursing condo fee, enforcing condominium rules and regulations, and ensuring that the common areas are clean and safe.

[preconstruction-info]

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[ditchthediy]

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[cmsrealestateltd2]

At CMS Real Estate Ltd. our brokerage services focus on every major class of property including retail, industrial, office, multi-family residential, commercial condominium conversions and special use properties. Get Rental property management from us in Calgary .Visit us here!  

[parterreproperty]

How Property Management in Edmonton Ensures Accurate Financial Reporting and Budgeting

In the dynamic world of real estate, accurate financial reporting and effective budgeting are crucial to the success of any property investment. For landlords and property owners in Edmonton, ensuring that their properties are managed efficiently is key to achieving financial stability and growth. This is where professional Edmonton property management services come into play. By partnering with experienced property managers, property owners can rest assured that their financial operations are handled with precision and care.

Expertise in Financial Reporting

One of the primary responsibilities of Edmonton property managers is to deliver clear, accurate, and timely financial reports. These reports are essential in providing property owners with a comprehensive understanding of their property's financial performance. Edmonton property management companies utilize advanced software and reporting tools to track income, expenses, and overall profitability. This real-time data allows property owners to make informed decisions regarding their properties and plan for future growth.

A reliable property management company in Edmonton will provide detailed reports that include maintenance costs, taxes, insurance premiums, and other operational expenses. They also ensure that every financial transaction is recorded accurately and transparently. This level of accountability builds trust between property managers and owners, giving owners confidence in the management of their investment.

Budgeting for Long-Term Success

Budgeting is another critical aspect of property management in Edmonton. Proper budgeting helps property owners plan for both routine expenses and unforeseen costs that may arise. Experienced Edmonton property managers take a proactive approach to budgeting, helping property owners set aside funds for necessary repairs, upgrades, and maintenance tasks. This ensures that properties remain in good condition while minimizing unexpected financial burdens.

Property management companies in Edmonton are skilled at forecasting future expenses based on historical data and current market trends. This allows them to create budgets that account for ongoing maintenance, future improvements, and any changes in the local real estate market. By managing these aspects, property managers help owners avoid costly surprises and ensure that their properties remain financially sustainable in the long run.

Legal Compliance and Tax Management

Edmonton property management companies also play a key role in ensuring compliance with local laws and regulations. They stay up-to-date with the changes in Edmonton's real estate laws, ensuring that properties meet all legal requirements. Additionally, they assist property owners with tax management, helping them navigate property tax regulations and file the necessary paperwork accurately and on time.

Conclusion

Accurate financial reporting and effective budgeting are vital components of successful property management. By working with professional Edmonton property managers, property owners can ensure that their financial operations are handled with expertise and precision. From generating detailed financial reports to creating long-term budgets, Edmonton property management companies offer a range of services designed to enhance the financial stability and profitability of their clients' investments. Whether you are a new or seasoned property owner, partnering with a trusted property management team in Edmonton can provide peace of mind and help you achieve your financial goals.

[sandybrow2]

Marco Group of Companies

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Complete Listings Overview Learn More

Courtesy of Marco Group of Companies

Despite adamantly claiming in his youth that he’d never go back to Newfoundland, Marco CEO Christopher Hickman did just that. It would be a quick stopover between business degrees, he told himself, and it wouldn’t be forever. “I thought I was just taking a year off to work with my dad [Tom] before I did something else,” he says, “and I certainly never intended to work in construction.”

But his timing was just about as bad as could be. Christopher returned in 1991 and the cod moratorium began in 1992, leaving 30,000 Atlantic Canadians—about 12% of the workforce—unemployed. Almost every industry was affected, including construction, and Tom Hickman’s general construction company—Marco Service Limited, founded in St. John’s in 1980—was no exception. “The economy was very depressed and we struggled for years to stay afloat,” remembers Christopher, who could have jumped ship at any time. “Instead, I hung around.”

Really he’s being humble, because the younger Hickman did a lot more than just remain on hand. He had a business degree in his pocket and a keen vision to keep the family business alive while others shuttered their doors. “Because we had a lot of hourly employees and simply not enough work to give them, we decided to transform ourselves from contractors to managers,” he says. In an unstable economy, pivoting to project management offered the company more flexibility. “It gave us the opportunity to readily ramp up or down, depending on the economy, which is always boom or bust. We realized we needed to smooth out the life cycle.”

As low as the first dip in the ’90s felt, Marco soon rode the cycle upwards. “Suddenly we were very successful again and growing quickly,” says Christopher, whose father retired in 2000 and passed along the role of CEO to his son. While head office remained in St. John’s, Marco opened a Halifax office in 2003, and most recently expanded to Calgary in 2019. (Wait, Calgary? “One of our strengths is repeat business,” explains Christopher. “When some of the developers we work with went west, we went with them.”)

Back on the East Coast, Marco has taken on what Christopher calls “the gamut of pretty much every kind of project.” If Marco was based in Montreal or Toronto, he says, the company might specialize in, say, hotels or fancy condominiums, but that just doesn’t work in Newfoundland. “You have to go with the flow here. We have to continually reinvent ourselves to [align with] whatever’s happening in the market.”

Christopher spent his early years at the company specializing in retail, overseeing the construction of Walmarts and Canadian Tires in the Atlantic provinces. The period that followed was largely institutional—schools and health care centres. More recently the company has added a P3 division to focus on this growing business segment. Whatever the project, Marco’s staff of 96 will oversee its design, finance, maintenance and operation.

The best and worst part of his job, says Christopher, is that every project is new and different. A large-scale project—like the recently completed $55-million renovation of St. John’s International Airport—requires organizing up to a hundred different subcontractors. Everyone, from architects and engineers to the locker and bathroom fixture installers, is subcontracted. “That’s a lot of moving parts and a lot of things that can go wrong,” he says, citing labour issues, unforeseen bankruptcy [of subcontractors], and even unpredictable weather that constantly wreaks havoc on the best-laid plans. Christopher is juggling about 30 projects and thousands of workers at any given time.

Thankfully, after 20 years at Marco’s helm, Christopher has acclimatized to the ebbs and flows. “We’ve been around so long that we’ve seen everything, and there’s nothing that would surprise me,” he says. Except maybe this: if Christopher’s two university-aged sons, 18 and 20, who aren’t particularly interested in the family business, decide to come home sometime. “You never know,” he says.

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Even more of Canada’s Best Managed Companies » // API calls for recent posts to the 'best-managed-companies' tag. Grabs five of the given posts at random. NOTE: Post IDs are hard-coded below in `eligiblePosts` 'use strict'; var bodyClass = document.getElementsByTagName('body')[0].getAttribute('class'); var container = document.querySelector('#dynamicPosts'); // tag id for 'best-managed-companies' // var tagID = 351657; var postCount = 5; var exclude = parseInt(( bodyClass.indexOf('postid') >= 0 ? isolateID(bodyClass)[1] : 0)); var eligiblePosts = [1079843,1079845,1079849,1079851,1079853,1079855,1079857,1079859,1079861,1079863,1079865,1079867,1079869,1079873,1079875,1079877,1079879,1079881,1079885,1079887,1079889,1079891,1079893,1079895,1079897,1079899,1079901,1079903,1079905,1079907,1079909,1079911,1079913,1079915,1079917,1079919,1079921,1079925,1079923,1079927,1079929,1079931,1079933,1079935]; var chosenPosts = arrayRandomSubset(eligiblePosts, postCount, exclude); // subset of eligiblePosts, see function below var endpoint = 'http://www.canadianbusiness.com/wp-json/wp/v2/posts?'; endpoint += 'include=' + chosenPosts.join(','); endpoint += '&_embed'; fetch ( endpoint ) .then(function(response){ return response.json(); }) .then( function(data){ postsRender(data); }) .catch(function( err ){ console.log(err); }); function postsRender(data){ data.forEach(function(post){ // Define Post Elements // post container var thePost = document.createElement('div'); thePost.classList.add('row'); thePost.classList.add('bmc18-latest-post'); // visual holder var theVisual = document.createElement('div'); theVisual.classList.add('col-xs-12'); theVisual.classList.add('col-md-4'); // visual link var theImgLink = document.createElement('a'); theImgLink.setAttribute('href', post.link); theVisual.appendChild(theImgLink); // text holder var theText = document.createElement('div'); theText.classList.add('col-xs-12'); theText.classList.add('col-md-8'); theVisual.setAttribute('href', post.link); // the image var theImage = document.createElement('img'); theImage.setAttribute('src', post._embedded['wp:featuredmedia'][0].source_url); theImage.setAttribute('alt', post._embedded['wp:featuredmedia'][0].alt_text); theImgLink.appendChild(theImage); // the headline var theHed = document.createElement('h1'); theHed.innerHTML = '' + post.title.rendered + ''; theText.appendChild(theHed); // the dek var theDek = document.createElement('div'); theDek.innerHTML = post.excerpt.rendered; theText.appendChild(theDek); // the spacer var theDivider = document.createElement('hr'); //tack it all together thePost.appendChild(theVisual); thePost.appendChild(theText); container.appendChild(thePost); container.appendChild(theDivider); }); } // return the wordpress postID from the body class function isolateID( string ){ var pattern = /postid\-(\d+)?/; return string.match(pattern); } /** * From a given array, provide a subset * @param arr — the array from which to read the values * @param n — the number of results required * @param excl — a value to exclude from the results */ function arrayRandomSubset(arr, n, excl){ let out = []; // for the specified count, loop over the given array, select values randomly, and add them to the output array, but only if they aren’t already included. // NOTE: we temporarily increase the length of the loop to output an array of length n + 1. This is so that if there is an `excl` value provided for ( var i = 0; i < n + 1; i++ ){ // select a random position in the array let r = parseInt( Math.random() * arr.length ); // if the value at position `r` isn’t already in the output, add it if ( out.indexOf(arr[r]) < 0 ) { out.push(arr[r]); // if the value IS already in the output, decrement the loop to try again. } else { i--; } } // if the excluded value is not in the output, just trim to `n` results if ( out.indexOf(excl) < 0 ) { return out.splice(0, n); // if it IS in the output, remove it. } else { let e = out.splice(out.indexOf(excl), 1); return out; } }

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Condos for Sale in Calgary: Big Tips for First Time Buyers! Part 1

Calgary Condos: What to Know Before Buying – Part 1

In our decades of experience, the good agents here at Elite Home Real Estate have learned that summer is the #1 season for first time buyers. In fact, the number of first-timers that we help is consistently the highest during this season than any other time of the year… And for a whole lot of first time buyers, condos are the property type of choice.

Thing is, we’ve also learned that very few buyers – first timers or not – are 100% aware of the many ways in which owning a condo differs from owning a house or even a townhouse. It’s with this in mind that we write this blog series, “Calgary Condos: What to Know Before Buying”… Because a little bit of extra knowledge goes a long way!

The Benefits of Condo Living

Condos make a truly great home for many different reasons – from having your sidewalks shoveled for you to indoor parking, to low maintenance costs and property taxes – condominiums have become the property type of choice for an increasing number of homebuyers.

For a lot of first time buyers, these above factors are very attractive selling points! After all, the idea of property maintenance, taxes, home improvements, and utilities can be pretty intimidating for someone who has never owned their own home before (and sometimes, even if they have).

On the flip side, homeowners who are looking to downsize are also attracted to condo ownership for the very same reasons. After years of shoveling snow, cutting grass, taxes, endless property repairs and upgrades, and having to deal with your own plumbing and furnace emergencies, all these long-time homeowners want is someone to deal with this for them! (And, really, who can blame them?)

But owning a condo is not like owning a house or even a townhouse. In many ways, the responsibilities and duties of a condominium owner are much easier. In other ways, however, the obligations of condo ownership are more complex.

From the state and status of the condo building itself to the details of living in and insuring it, there are a number of things to consider when you look at buying a condo in Calgary.

Value vs. Workmanship

In Calgary’s last big boom, we saw the construction of literally thousands of new condos in Calgary These condos were built in a comparatively short span of time and sometimes by contractors who were stretched to provide the resources needed to accommodate all the building projects they were working on.

Ten years and many building code amendments later, many (but certainly not all) of these boom condo buildings are in need of upgrades and repairs. They’re still 100% habitable and have retained impressively strong property value, but their management companies and governance boards are now sending out special assessments. As a result, these condo unit owners are beginning to realize these additional costs.

This is why we always make sure our clients understand the difference and connection between value and workmanship.

Several months ago, we did about a blog post about a young couple that bought a home with some serious structural issues. In it, we emphasized the need for accurate and current home inspection reports. This same advice bears repeating here – but with a condo, you will want to have 2 types of thorough inspections:

A certified, professional home inspection • A thorough inspection of the condo documents

This is because unlike a home inspection of a house or townhouse, condo inspections only cover elements specific to the condo unit itself. These are unit-specific elements such as windows, appliances, cabinetry, fire and CO2 detectors, etc.

“Common elements” – like the plumbing, roofing, and electrical systems – are outside of a condo inspection’s scope and therefore cannot be included in a condo home inspection report.

This is why it’s crucial you have a trained eye review the condo documents. It’s in these documents that you’ll get a fuller story because they will reveal any problems or potential problems relating to the bigger picture and long-term issues.

A Bit More About Condo Documents…

These documents give you critical information on the condo’s overall status. This includes pertinent information on the building, the board’s financial resources, special assessments, insurance claims, condo fees, any legal actions taken against the condo’s builders or its board, and how the condo building is and has been managed.

Condominium documents also include the meeting minutes of the condo board, which is a great place to learn about potential issues that may be creeping up to cause serious headaches in the future.

Condo documents must be supplied to condo owners, potential owners, and their respective mortgage providers within 10 days of receiving a written request for them. You can find out more about condo documents from this incredibly handy Service Alberta info sheet.

Geographic Considerations (Prime Example: Floods)

Almost any Canadian who was around in 2013 will remember the devastating, overwhelming floods Calgarians endured that summer.

And while floods like that were previously considered a rare occurrence, the Government of Alberta itself has acknowledged that climate change will “result in long-term changes in temperature and precipitation, as well as increased frequency and severity of weather events such as droughts, floods, forest fires, and severe storms.” 

With this in mind, reviewing flood maps and available flood insurance policies is a very wise idea for anyone who is considering condo ownership – especially near Calgary’s two rivers and inner city.

Don’t get us wrong here; we’re not trying to dissuade anyone from investing in a condo in these beautiful and established Calgary neighbourhoods! We are, however, pointing out that there are some unique considerations to keep in mind  – regardless of where you want to purchase a condo.

As for floods, the vast majority of condo buildings will have water damage insurance that includes storm sewer back ups. This is important to know about because hundreds of buildings that were not directly affected by the flooding rivers in 2013 still suffered serious damage from over-flowing sewers, drains, and other infrastructure-related flooding damage.

However, if you are thinking of buying a condo near Calgary’s flood zone or flood fringe zone, then be sure to find out if the condo building has overland flood insurance (this information can also be found in the condo documents).

If and/or when the next big flood hits, you’ll be glad to know that you’re properly covered!

Insurance

Flooding and water damage insurance aside, owners of a condo unit will require a unique form of insurance known as “condo insurance”.

What a great many condo owners don’t realize (until they’re in the thick of it) is that condo insurance policies are very unique creatures in the property insurance world.

A condo insurance policy can be a confusing document to understand. That’s because a condo insurance policy needs to balance and complement the insurance that exists for the rest of the building with the coverage needs of your specific condo unit.

A prime example of this is a fire. If there was a fire in your condo, the condo building’s insurance would only cover the damage of the walls and ceiling outwards – so your carpets, fixtures, appliances, and furniture would be covered by a condo owner’s individual condo insurance policy.

Can Ya’ Do a Condo?

As you can see, there are some important things to think about when it comes to buying a condo in Calgary. What we’ve listed above are just 4 of the bigger considerations that potential condo owners need to be aware of.

There is definitely much more food for thought when it comes to being a condo owner, but luckily Elite Home Real Estate has some of the very best condo buying specialists in the province!

Stay tuned for our next installment of “Calgary Condos: What to Know Before Buying” where we’ll share more tips and helpful factoids about buying a condo in Calgary.

 Want to know more, or maybe you have some condo questions that need answering? Then get in touch! We absolutely know our stuff when it comes to Calgary real estate and Calgary condos – and are always happy to help.

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