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Roberto Noce looks at what a board needs to do get its financial house in order

Owners need to volunteer their time to the board: the worst-case scenario is that a court-appointed administrator takes over completely

Read the latest news on the condo market in Regina and Canada, home design ideas and maintenance tips.

'Honey, I need the basement back' Alberta laws changed in 2020 to set out specific time frames for how long various condo documents need to be kept Author of the article: Roberto Noce Publishing date: Jun 04, 2021  •  5 hours ago  •  2 minute read  •  There is a legal need to keep condo board documents — but fortunately, there is a time limit on many. Photo by Getty Images/iStockphoto Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Article conten...

Article content Question: In the past three years, our monthly condo fees have jumped from $450 per month (in 2019) to $530 per month (in 2020) to a whopping $650 per month (in 2021). As well, the board has told us that our reserve fund is too low. Some of the money from our monthly condo fees will be used to play catch-up for our reserve fund. Are these increases legal, and what is the required amount for our reserve fund? Please help! Answer: Yes, the increases are legal. There is nothing in the Condominium Property Act that provides any direction with respect to increases for condo fees or...