Excellent exposure for Condo Owners Association on Yelp
It will create better awareness to the general public. Home Owners do not realize how important it is to have a Condo Owners Association to advocate, represent and protect Condo Owners and Condominium Corporations. We have a multitude of new construction not just province wide, but country and world wide. The demographics of many City Skylines are changing to incorporate high multi family dwellings of condominiums no longer at 20 storeys but even reaching limits of 80 to 90 or even over 100 storeys high. There is legislation for condominiums all over the world. Many countries are reviewing their guidelines to ensure not just public safety, new buildings codes, new energy and environmental initiatives but the most important of all to ensure there is accountability, governance, good operations to ensure long term sustainability with Condominium Acts and Legislation that protect Condo Owners and Condo Corporations.
Everyone should take the time to help COA get the word out regardless whether you are a condo owner, buyer, home owner and or tenant. Real Estate values play an important role on the economy. Many real estate markets are controlled by supply and demand however when there is a decline in value and limited equity in any property there is a potential power of sale or foreclosures on any property. Many condominiums have a declining shift in real estate value due to high maintenance fees, ie condo unit value $300,000 with $750 p/month maintenance fees. If a condo owners cannot realize equity from their unit, they cannot sell their home to upgrade to any other form of housing. Single family residents such as semi-detach homes and detached homes will be negatively affected.
The real estate market needs active buyers and sellers, it is a chain reaction whether through the move-up buyer, the downsizer or the relocation. If there is to much supply and no demand; values will drop. Todays approx. 2.7% variable rates triggers a mortgage payment with almost 1/2 towards each principal and interest. As home owners pay off their mortgages they also need to see market increases in values. High maintenance fees on condominiums comprises value and may also compromise the value you believe you are paying down in your principal. Can Condo Owners lose money, absolutely! They could lose your equity and your value.
The Condo Owners Association, also known as COA is a non profit Association, they need your help and your support. www.COAontario.comShare