According to the attached CBC article the Condo Home Owners Association says strata building often don’t save enough for basic repairs. It make sense to plan for the future to avoid conflict and occupational health issues in your strata complex. While everyone struggles to make ends meet in our property markets, the sunk legal costs fighting your members is not a good your of your strata’s limited funds. Please see the attached link, definitely a situation worth avoiding.
As CHOA says, “The solution is just good long-term planning, and planning for the renewal of your building system.”
People don’t plan to fail, they fail to plan. Have a Depreciation Report for your strata.
