Condo Doc Review Partners

Condo Ownership is Buying into a Business.

When purchasing a Condominium, the best place to start with condo docs is to review them yourself!

You can work with a condo document review company to help sort out all the information. This company will examine all the presented documents and share the findings with you.

The review allows the buyer to make an informed decision while reducing the risk of any large surprises

  • A REALTOR® can help find the best fit! Condominiums have different aspects that need to be considered, for example, multiple parking stalls or storage units. The bylaws may have a pet policy or rules about balcony use.

    Condo corporations set, maintain, and enforce the bylaws that govern the corporation, the condo complex, unit owners, tenants, and other occupants. You should review the bylaws to make sure they suit your lifestyle. If you buy a condo, you will get access to all the condo documents to review.

  • Condos can be many shapes and sizes; Including apartment-style buildings, duplexes, townhouses, detached single-family homes, or even plots of land.

    A condo is registered with the municipality as a condominium corporation. Just like it sounds, a condominium corporation is a business. Unit owners are like shareholders.

  • As a Condo owner, you own a private dwelling called a "unit" registered in your name. You may also have titled, assigned or leased parking stalls and/or storage units. Condo owners have a share of the common elements and assets of the community.

    It's essential to be clear about your unit's boundaries and how you can use the common area. Each condo corporation is slightly different in how it operates.

  • The Condominium Property Act outlines the obligations of the condo corporation. The Act requires Condos to: maintain common property, hold insurance, maintain a reserve fund, present an annual budget, collect monthly fees, maintain documents , and enforce the corporation’s bylaws and rules

    All this is carried out by a board of directors elected by the condominium unit owners. They can also hire a professional management company to help carry out the tasks.