What condo owners don't always consider is that even if the damage may be covered by the building master policy, buildings often have very high deductibles; therefore condo owners then become responsible for paying their portion of the deductible determined by the assessment, even if the damage itself is covered by the insurance.
The dwelling portion, however, differs from a traditional policy because most condo owners don't own all of the ancillary structures attached to their building.
Most buildings bill the owners to cover the condo corporation's insurance deductible on a large claim, but many Canadian condo owners don't realize they will be responsible for these costs.
More than two - thirds (88.1 %) of
the condo owners did not plan on purchasing additional condo units in 2013 and 2014.
What condo owner doesn't desire more space?
The study showed that
the condo owners did not give in to the market prices and eventually
the condo owners did sell their condos for more money than the downturn market price.
Not exact matches
We rented a private
condo directly from an
owner online, so we
did not
do the all inclusive and therefore can't really comment on the restaurants.
Somewhere near the middle of the building, on floor 25, is new
condo owner Dr. Robert Laing (Tom Hiddleston, the perfect actor to play a Ballard protagonist), a moderately well - to -
do neurologist who nevertheless is only able to rise so far in the class - conscious building.
A recent poll by Allstate Insurance Company of Canada and Abacus Data found that 61 % of Canadian
condo owners either don't know or incorrectly assume that if a flood or a fire starts in their unit, the building's insurance will cover the damages to other units.
@HelloGoodbye I mean you own the
condo 100 % (meaning you are the sole
owner on the title) but get a mortgage to pay for the 75 % that you don't have the money for.
Luckily for us, it is a family owned
condo, so while we aren't the «
owners», we also don't have to pay full price.
If the
condo board doesn't set aside enough money for future expenses, then there will likely be a special assessment for each
condo owner when the 5 year reserve fund study is
done.
However, this
does nothing directly for the
condo owner.
Insuring a
condo is cheap for the
owner because they don't own the building, just the interior.
Just under half (42.1 %) of Toronto and Vancouver
condo owners surveyed
did not have a mortgage on their last
condo purchase.
However, this policy likely doesn't cover your personal property, private structures or property that's your responsibility under your property
owner's agreement, updates or improvements you've made to your
condo, personal liability, or legal costs if something happens in your
condo and you're sued.
Malaya claimed she didn't know pit bulls are banned in Denver, and said the
owner of the
condo she's renting never told her.
Both dogs
do not really need a leash, anywhere, ever, except as required by law - which is why they are allowed the 20 feet of wander space a flexi lead offers - on the grounds of their
condo complex, when they are the only dogs out, and under the supervision of their
owner / handler, who is more aware than most parents of toddlers of what is going on... My own dog is not well trained enough to be put on a flexi lead - ever.
Typically, Frizzell said, a
condo or co-op association will fine the
owner or threaten to remove the dog if the barking doesn't stop.
Most of all, according to data, here are reasons animals most often land in shelters:
owners who can't deal with a behavior problem and don't get suitable help;
owners who move without taking their pets; people who rent an apartment or buy a
condo where pets are prohibited; and
owners who can no longer afford to maintain a pet.
Did you know that California law (the Davis - Stirling Act) states that no
condo association can prohibit a unit
owner from keeping at least one pet, subject to the HOA rules?
If less than 60 days, full rent amount due and not refunded unless
condo is re-rented, which
owner will try to
do.
The
condo is decorated in a tropical style, and our guests enjoy original paintings
done by the
owners on Maui locations.
While I can understand that
condo owners rather take high cash prices during peak season, it
does take away a lot of the initial attraction of the
condo & home addition to the program.
The
condo generates over 100,000.00 gross income per year with the
owners doing the majority of the bookings on Home Away.
Specifically, here is what they'd like to
do to
condo owners.
Often, problems with
owners that
do not comply with the condominium documents or the legislation arise because
owners are not aware of their obligations or
do not fully understand what is the unit
owner's responsibility and what is the responsibility of the
condo corporation.
So the policy the
condo owner has offers far less coverage on the structure, because it costs far less to rebuild since much of the work is already
done.
Regardless, maintenance on
condo buildings must be
done and are paid for by
condo owners.
Did you know... You may qualify for Property and Home Insurance Discounts; including: risk policies for home
owners, tenants,
condos, rented dwellings and seasonal properties.
Our
condo unit
owners policy provides comprehensive coverage, but it
does not provide coverage for every loss.
As a
condo owner, you need to protect your investment, but many people don't know how to go about finding the best rates available.
However, this policy likely doesn't cover your personal property, private structures or property that's your responsibility under your property
owner's agreement, updates or improvements you've made to your
condo, personal liability, or legal costs if something happens in your
condo and you're sued.
Although a basic
condo owners policy doesn't offer any coverage nor would your HOA policy against identity theft, most companies offer an endorsement to make sure you are financially protected.
While most home
owners and
condo owners are either obligated to buy home insurance or just understand the necessity for it, many renters
do not think about home insurance.
So, while a
condo association's insurance may help protect the physical structure of the building and the areas shared by multiple
owners, that protection likely
does not extend to the stuff inside a unit.
Insuring a
condo is cheap for the
owner because they don't own the building, just the interior.
If you have recently joined the ranks of
condo owners in Connecticut or if you are merely considering
doing so, you may want to compare the coverage options and quotes offered by different
condo insurance carriers.
As
condos and their
owners age they often don't want to - or don't have the means to pay for major repairs or put enough into escrow accounts for capital repairs.
The trend is quite stark compared to four or five years ago, where
condo owners either lived in their units themselves or
did their own legwork in finding tenants for their investment properties.
Do they offer the same service to the $ 300,000 condo owner that they do to the $ 2 - million homeowne
Do they offer the same service to the $ 300,000
condo owner that they
do to the $ 2 - million homeowne
do to the $ 2 - million homeowner?
«The project didn't meet the
condo - to - commercial ratio, so I lost the deal,» says George Harvey Jr., broker -
owner of the Harvey Team in Telluride and vice chair of NAR's Resort Committee.
I got this is home
owners association but
does nt this just apply to a
condo building?
Further, the
condo did this without providing details and without calling a meeting of
owners.
All this for discretionary services that the
condo did not need to provide
owners.
An
owner of a condominium unit may feel secure in the knowledge that he owns title to his little piece of the building and can
do as he wishes, subject to certain reasonable rules and general constraints on use and behaviour that apply to all
owners, and which are found in the
condo corporation's governing documentation (the declaration, bylaws and rules).
There are other considerations having nothing to
do with modifying the actual unit, that property
owners,
condo and homeowners associations, local governments, and others should keep in mind when serving the housing needs of people with disabilities.
While I think it is wonderfully progressive to see apartment and
condo dwellers have pets, I am alarmed by the number of dog
owners who
do not seem to take their responsibilities for pets seriously.
Hopefully, the
condo unit
owner does so by first trying to resolve the matter with his neighbor face to face.
Often, strapped
condo owners make arrangements with their lenders regarding deficiency judgments but fail to
do the same with their
condo associations.