Wednesday, December 2, 2009

Smaller Condominium Corporations and Self-Management

There are many smaller condominium Corporations popping up all over Ontario. Self management for them makes perfect sense rather than hiring a management firm who will charge a minimum (if you can find one for a community that small). One item I feel is noteworthy in this situation is that it is important that financial matters are handled professionally. Very often you can get accounting services from a local bookkeeper at reasonable rates.

But that is not the point of this article.

It is important that all condominiums check with their local land registry office to determine their current address for service. This can be done with a title search.

It is not always feasible for some corporations to have their address for service the same as the physical location of the property, for example townhouses. In these situations, it is common for the address for service to be that of the property management firm, quite possibly a firm that no longer manages the condominium, or a previous board member who has since moved. Larger corporations who have a site office will probably have their Address for Service correctly registered.

This process does not have to be completed by a lawyer, there is a standard form available for this change, and you can find a copy of the Form 2 - Change of Address for Service at Traway Property Management. It simply requires a resolution at a duly called board meeting, completion of the form and registration at the land titles office. With many Municipalities going electronic, a clerk can register this form at a fraction of the cost of a lawyer.

For those of you looking for a clerk to perform this service, please contact Tracey McLellan (anonymously if you wish) for the name and telephone number of individuals who perform this service.

While this may seem to be a small housekeeping task, in law, a notice sent to the address for service on record is deemed delivered yet it may never reach the Board of Directors.

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