Condominium

Benefit Of Getting A Condo Vs. Residential Houses. September 25, 2008, Thu | Condominiums come in a variety of styles. Some are simply apartments that have been reclassified as condos. Others are much nicer with a real homey feel to them. Its price is simply put; a two bedroom condo will almost always be priced lower than a two bedroom home in nearly every area of the country. There are luxury condos that trump this rule, but there are exceptions to just about every rule. Regardless, the lower

Condominium assessments are the lifeblood of the any condominium association. A condominium association cannot function and provide essential services to co-owners unless assessments are collected. Unfortunately, dissatisfied co-owners often threaten to withhold assessments as a means to get what they want. Examples of situations where co-owners commonly threaten to withhold assessments and/or withhold assessments are as follows: 1. A co-owner has suffered damage to their unit and/or the appurtenant

What every Condominium Association needs to know about Parking Restrictions The enforcement of parking restrictions is one of the most problems that condominium associations and property managers are forced to deal with. In densely packed urban areas, parking spaces are often at premium in condominiums and issues arise when co-owners fail to park in their designated areas. In contrast, suburban site condominiums with single family homes often face parking issues related to parking boats, commercial

Wendy Ji, a resident at the Emerald City Condominiums in Taranto, Canada has filed a $30-million class-action lawsuit against the Toronto developer, Elad Canada, for failing to deliver what she claims they promised to. On Emerald City’s website they state the condominium would include “easy underground access to the Don Mills subway.” When Wendy first moved into the apartment she discover something shocking, the underground tunnel connecting the condominium to the subway did not exist. The condo developer

victory for Michigan condominium associations in Cove Creek Condominium Association v Vistal Land & Home Development, L.L.C., et al., Oakland County Circuit Court Case No. 16-155706-CH (Order Granting Summary Disposition, Dated February 10, 2017). The Oakland County Circuit Court held that the 2016 amendment to MCL 559.167 does not re-create “need not be built” units on common element land that is owned by the co-owners. The ruling will have an impact on any incomplete condominium projects that contain

ADDITIONAL ASSESSMENT AND A SPECIAL ASSESSMENT IN A MICHIGAN CONDOMINIUM ASSOCIATION As many new condominium co-owners are aware, the general operations of a condominium association are funded through annual assessments. MCL 559.169 sets forth the requirements for imposing assessments in a Michigan Condominium as follows: 559.169 Assessment of common expenses; contribution of co-owner. Sec. 69. (1) Except to the extent that the condominium documents provide otherwise, common expenses associated with

Toronto is the largest condominium market in North America followed by Montreal, Calgary, and Vancouver along with Halifax and St. Johns. Up until 2013 the market had been growing and especially booming in Toronto. In 2013 this high condominium purchasing rate attracted the attention of the Bank of Canada, and the question was posed whether satisfying this high demand, including from foreigner’s side, was a good thing for the market. Following that, the banks became more “cautious” when lending funds

America’s households, live in gated communities with dividers and entryways in the end of the 1990’s. This number is difficult to monitor and estimate as the real estate market evolves, the gated community changes forms and alternative forms such as condominiums increase. That being said the number has been steadily changing as Americans are increasingly looking to privatize previously civic space. According to census statistics, gated communities are becoming one of the fastest-growing housing types in

to buy our condominium. In a 3 years it was accomplished with 45 story building. Who are your customers ? Our customers are usually businessman, employees of the companies here in Global City, people who wants to invest for their future. Honestly, this type of people is the target of our company. Uptown Condominiums are made of high class materials. Materials that are produce by our country and most of the times from other countries. We really make it sure that our condominiums are perfect

positive for Michigan condominium associations as many developers have drafted onerous provisions in condominium documents that do not allow for the board of directors to take necessary to protect condominium associations action unless a 2/3 co-owner vote is a obtained and numerous other requirements are satisfied. HB 4446 will address the following issues: Anti-Lawsuit Provisions Decrease Property Values Michigan residents purchase condominiums with the expectation that the condominium documents will