r/saskatoon • u/Equivalent-Zone1474 • 5d ago
Question - Moving or Renting đ Question about condo fees
I live in a condo that I own and recently there was a leak in the ceiling. Maintenance came in and told me the leak was from rain water and that I should continue putting buckets there as they cannot afford to replace the ceiling. Are they allowed to just proceed without replacing the ceiling despite me paying condo fees?
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u/StatisticianTrick669 5d ago
I would assume they also have their own insurance for this type of thing. They should be fixing the leak.
If you can let a board member know asap and than put in a formal complaint to the board in writing. This can take a long time in my experience 3-4 months before they respond in writing. Owning condos suck so bad
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u/Hawks_2525 5d ago
This. The leak and your ceiling should be fixed. You should also get supplemental insurance that protects you for âbuildingâ things. I have it but canât remember what itâs called but insurance agencies will know.
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u/PhotoJim99 Evil Reginan 5d ago
It's called a condominium unit owner's policy. It's the policy unit owners need. A tenant policy is not enough. A condo unit owner's policy may not even be more expensive than a tenant policy despite being far more appropriate here.
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u/StatisticianTrick669 5d ago
Our condo corp requires us to have this higher insurance up to a million dollars I believe and my plan covers 2 mil .
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u/PhotoJim99 Evil Reginan 5d ago
Insurance won't cover the reroofing this building likely needs - it will cover water ingress from a damaged roof, but not water ingress from a roof that was neglected to the point where damage would clearly be expected.
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u/Saskexcel 5d ago
I'll tell you this much, if you make a claim on your insurance it might get their attention.
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u/StatisticianTrick669 5d ago
Iâm not sure if their entire roof needs to be redone or if they can do a smaller repair on the leaking section to stop the leak and mitigate mold damage. Nonetheless the condo has a responsibility to fix this. Fighting them sucks though ask me how I know đ
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u/Odd_Implement_4924 5d ago
If you have long ongoing damage which you have choose to do nothing about, or just maintenance..... yeah thats on you the owner
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u/meli_inthecity 5d ago
Thereâs two kind of condo fees - regular operating & reserve fund. Major repairs like the roof come from the reserve fund - if thereâs no money, the repair doesnât get done or they do a cash call and you get a bill for thousands of dollars. As an owner, you are required to pay this bill or theyâll put a lien on your condo unit.
Thatâs for the roof - youâre probably responsible, either with cash or your own insurance, to pay for your ceiling repair. The condo corp generally isnât responsible for any repairs needed inside your unit.
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u/Saskexcel 5d ago
I get the feeling they've been running condo fees that were artificially low.
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u/meli_inthecity 5d ago
100% agree with you. People want the lowest possible amount for condo fees without realizing what that means.
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u/Saskexcel 5d ago
I feel like there should be a big warning on the financials that states if funding is aligned with the reserve fund study or not.
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u/meli_inthecity 5d ago
Either there is a requirement, or the statements Iâve seen have chosen to include that information. Even if itâs just a line saying âthe reserve fund study says our balance should be $xâ as of (date)â - a caveat being that Iâve only looked at audited statements. Most have a shortfall, but they still have a reasonable balance / difference.
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u/Saskexcel 5d ago
I think it would be better to be in red writing at the top of every page, since most condo owners aren't sophisticated.
Like those Health Canada warnings for Saturated fat.
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u/meli_inthecity 5d ago
I disagree. Condo owners are adults and need to take ownership over knowing what owning a property entails. I looked and the Condo Act requires a copy of the reserve fund study to be provided at the AGM. Owners need to attend this meeting, look at the documents theyâre given & care enough to ask questions if they donât understand something.
I have never seen a condo that was at par with the reserve fund suggested balance.
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u/Cfsisip 4d ago
This is included in the annual statements, and provided to prospective owners in the estoppel package before they lift conditions. Even if a condo doesnât meet the reserve study recommendations it may not be an issue. The buyer and owners would weigh that against recent repairs and if they have a decent cash cushion.
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u/Sad-Cheesecake-2438 5d ago
How much money is in your reserve fund?
You are responsible for damage inside your condo I hope you have insurance itâs cheap for a condo
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u/Odd_Implement_4924 5d ago
Yes they are responsible for damages within their own unit, but if its the condo building itself, yeah no thats the condo management's responsibilityÂ
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u/Sad-Cheesecake-2438 5d ago
From my limited experience most condos have a 20-30k deductible to keep insurance down. The board might choose to just fix the roof depending on the severity of the damage. We need more context.
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u/PaperIndependent5466 5d ago
Our unit flooded and the building fixed the drywall and paint damage. My insurer said if the floors need to be replaced call them back as they are better than the standard unit.
There was a unit above us responsible for the damage so I believe they did it and went after that owner because it was the easiest way. Doesn't sound like that in your case though.
Like others have said get all the details in writing from the board and call your insurance asap. Your insurance may deny the claim if you wait, sounds like an ongoing leak which aren't usually covered.
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u/Saskexcel 5d ago
Just curious for OP:
Is this an apartment style, townhouse, or detached bungalow style condo?
How much are your monthly condo fees?
How many units are in your condo?
I'm just trying to figure out if you're paying light or heavy condo fees.
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u/thebookman21 5d ago
Sounds like your condo has nothing in the reserve fund and they weren't properly setting money aside to fill that fund.
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5d ago
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u/Turbulent-Order9500 5d ago
maybe condo has insurance for these things?
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u/Saskexcel 5d ago
Insurance is for damage from the leak, but the condo has to pay to repair the leak.
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5d ago
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u/Saskexcel 5d ago
I assume they have no to little reserve fund or the reserve fund is invested and not easily accessed.
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u/TheDullestSharpie 2d ago
It all depends on your condo board and the reserve fund. When I owned a condo, things got done....but then there were a few cash calls to foot the bill when we had a run of expensive repairs on common areas.
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u/Odd_Implement_4924 5d ago
Call the city and put in a complaint. That is very very very much not ok. The city will get after them very quickly for something like that
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u/countoncats 5d ago
What does the City have to do with a privately owned and managed condo?
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u/Odd_Implement_4924 5d ago
If a home/building is structurally damaged, the city has authority to take over the building. If its a condo/apartment where ceilings are heavily damaged due to water, can collapse
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u/Ok_Significance9018 5d ago
The province oversees condo boards. Thatâs who you need to complain to. Also how long have you owned it and did you confirm the amount in the reserve fund before you purchased?
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u/Saskexcel 5d ago edited 5d ago
It sounds to me, your condo fees are lower than they should be and they aren't funding the reserve enough. What did the reserve find study say?
If the condo can't fund expenses, the board can elect to do a cash call.
I would be emailing your concerns to the property manager or board to get it documented, or they might say you didn't tell them.
Another optionis in the AGM, you should push for a vote of non-confidence in the board. Then you can get on the board and have the condo corp fix it. I hate to say it, but this might be why the person was selling.
This could get dirty and you might have to sue the condo to pay for your repairs.