TOOLS AND RESSOURCES
of co-ownerships in Quebec
This section provides administrators with the essential resources and tools to ensure effective management of their condominium association.
What resources and tools are available to administrators of co-ownership associations?
Managing a condominium requires a variety of skills. Having the right support team makes management easier and provides assistance throughout the various obligations. We provide you with several resources and tools to simplify your work as an administrator.
Do you have civil liability insurance?
It is often not known that members of the board of directors are personally liable for any wrongdoing committed in the performance of their duties, whether they are paid or not. Since April 15, 2021, the syndicate is required to take out civil liability insurance for each member of the board of directors.
In addition, each co-owner must be covered by civil liability insurance. The minimum amount required for this insurance depends on the number of units in your building:
Buildings with 12 units or less: minimum $1 million.
Buildings with 13 units or more: minimum $2 million.
Make sure you are properly insured.
Resources
Here are some useful resources concerning co-ownership insurance:
Do you have the three types of funds required?
Good financial management is essential to ensure that the value of your asset is maintained over time. Three mandatory funds contribute to this approach:
Operating fund: This fund covers current expenses, generally for less than a year. For example, it finances work such as snow removal, lawn mowing and minor maintenance costs. The directors determine the amounts to be paid into it.
Contingency fund: This fund finances major repairs and replacements of common areas, such as replacing the roof, doors and windows. An authorized professional determines the amounts to be paid into it.
Self-insurance fund: This fund covers the costs associated with the highest deductible in the event of a claim. An authorized professional determines the reconstruction value for insurance purposes, which allows the value of the deductible to be set.
Resources
Here are some useful resources concerning the various co-ownership funds:
How can you manage all these funds?
To simplify your financial management, you can avoid opening several separate bank accounts by opting for reserves in the statement of net assets. This allows you to allocate part of your accumulated surplus to the operating fund for a future project. CPA Aline Desormeaux explains it well in her article on CondoLegal.
What is a register of co-ownership?
A register of co-ownership is a set of documents essential for the management and administration of a co-ownership. These documents are necessary to enable the syndicate of co-owners to fulfill its mission. The board of directors ensures that they are kept and are accessible to all co-owners. According to the RGCQ, the following documents should be found in a register of co-ownership:
The declaration of co-ownership: This founding document establishes the rules of operation of the co-ownership.
The register of co-owners and tenants: It contains the name and address of each co-owner and tenant.
The minutes of general meetings and board meetings: These documents record the decisions taken at these meetings.
The plans and specifications of the constructed building: These provide technical details on the construction of the building.
A copy of the cadastral plan: This document describes the division of the condominium lots.
The contracts to which the syndicate is bound: These include all contracts signed by the syndicate, such as service and maintenance contracts and guarantees.
The financial statements: These present the financial situation of the condominium.
The description of the private portions: This must be sufficiently precise to identify the improvements made by the co-owners (reference unit).
The study of the contingency fund: This document assesses the future financing needs for major repairs and replacements.
The maintenance log: This details the maintenance operations carried out and planned.
All other documents relating to the building and the syndicate: This may include various documents relevant to the management of the condominium.
These documents ensure transparency and good management of the condominium, thus facilitating communication and decision-making within the community of co-owners.
Are you familiar with the maintenance tasks for your “condo”?
In co-ownership, many recurring maintenance tasks must be carried out to ensure the proper aging of the building. To guarantee the follow-up of these tasks and avoid any omissions, it is crucial to set up a maintenance logbook including an annual calendar.
To help administrators and provide an overview of the tasks to be carried out, we have developed a free maintenance logbook, which can be downloaded directly from the form on the right and is easy to use. This guide helps you carry out the various routine tasks to keep your building in good condition.
This free spreadsheet is a valuable tool, but it is no substitute for a comprehensive asset management plan specific to your building, in accordance with the requirements of Law 16.
Contact us so that our engineers can carry out your various studies, such as the contingency fund and maintenance log, in accordance with the recommendations of Law 16.
Resources
Download your free maintenance logbook
Who can carry out the various tasks?
We can! If you have a maintenance logbook but you don't have the tools to carry out the recommended checks, we offer a turnkey service. We carry out the recommended checks and then present our observations and recommendations in a report, ready to be filed in your register. In addition, we assist you in your requests for bids and the selection of contractors, if necessary. To find out more, contact us.
What is the best way to manage my documents?
A condominium association has a multitude of photos, reports, plans, studies, etc. To ensure efficient management of these documents, it is essential to keep them organized as soon as possible so that they can be filed and retrieved easily. Here are two methods:
Use of general tools such as Microsoft Office or Google:
Advantages: This approach is often inexpensive, or even free, with Google, which is an important criterion in co-ownership. In addition, these tools are widely available, easy to use and versatile, which facilitates their adoption by all co-owners and follow-up.
Disadvantages: They are not specifically adapted to co-ownership, which will require integration and configuration.
We recommend this solution to property managers.
Use of IT tools designed and adapted for condominiums:
Advantages: These tools are specially designed to meet the needs of condominium associations, often called “condos”.
Disadvantages: The costs are higher, and considerable time must be invested to fully understand and master the tools.
We recommend this solution to professional managers.
Resources
Are you familiar with the associations and other resources?
A condominium requires the services of several experts, so don't try to manage everything on your own at the risk of your sanity! In the box on the right, you will find a list of resources and tools that we invite you to explore, and to contact directly to deepen your knowledge and get help.
These resources also offer numerous training courses to deepen your knowledge in the field of condominiums.
In addition, it is possible to delegate the management of your condominium or to work with consultants who can help the administrators to fulfill their various tasks. You can call on their services only in case of specific needs, without necessarily abandoning the complete management of your condominium.
It is strongly recommended that you seek out a lawyer and an accountant who specialize in condominiums. Their expertise will be extremely useful.
SPECIALIZATION
IN SMALL CO-OWNERSHIPS
We work a lot with small condominiums.
We help administrators implement best practices in property management and administration. We offer them coaching at competitive rates.
Among other things, we offer group rates for identical buildings located in the same neighborhood.
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