condo management

Co-ownership management involves administering one or more buildings grouped under a syndicate of co-owners, in compliance with the provisions of the Civil Code of Québec and those set out in the declaration of co-ownership. Each year, the co-owners elect a board of directors from among their number, whose mandate is to make the necessary decisions for the maintenance, preservation, and enhancement of the building. The board may act alone or entrust some or all of these responsibilities to a professional manager to ensure rigorous monitoring in accordance with the growing industry requirements. The tasks to be performed are numerous and involve administrative, accounting, legal, and technical aspects. On the financial side, this includes developing the annual budget, collecting condo fees, and monitoring outstanding accounts. On the technical side, this includes preparing specifications for work, soliciting bids, managing contracts, planning interventions, analyzing technical reports, and ensuring compliance with the asset management plan. Legal knowledge and mastery of legal obligations such as those arising from Bill 16 and Bill 141 are essential. or even Bill 122 are now essential to enable the board of directors to effectively fulfill its role. The administrative burden resulting from these tasks is also significant, as it includes preparing and facilitating board and general meetings, as well as drafting and distributing minutes to all co-owners. In a context where responsibilities are increasingly burdensome and complex, many directors, although dedicated, cannot devote themselves to them full-time and therefore choose to surround themselves with professionals. This increased requirement from the legislature aims to provide a clear framework and ensure rigorous monitoring that will guarantee the long-term sustainability of buildings. In the near future, other issues will also be brought to the table, such as environmental considerations, the energy transition, sustainable practices, and issues of living together, all of which will play an increasingly important role in building governance and in the expectations of co-owners.