Author: Huron Shores Property Management

Some homebuyers are seeing appraisals come in lower than their purchase price. Average prices for homes have been trending down over the past few months. In May, the average home price was $711,316 – a 4.6% drop from April and a nearly 13% drop from February. Ontario home prices could drop up to 18%. Appraisers consider several factors when calculating the value of a home – the home’s construction cost, size, features and previous selling price. Other factors include higher … Continue reading “With Home Prices Going Down and Rent Prices Going up in 2022, is it better to Buy or Rent a Condo?”

In the first two months of 2022, the average monthly price for a home had risen $129,043.  With interest rates rising, will it slow rising prices? Most buyers are out-of-town investors who are driving the market making housing become a commodity. OUT OF TOWN INVESTORS Where are the out-of -town investors coming from? The largest source is the Greater Toronto area, but there’s also interest from Vancouver and Montreal.  Windsor’s housing market has become so hot that out of town … Continue reading “REAL ESTATE TRENDS”

It’s that time of year again…spring cleaning! In most condominiums, this maintenance will fall under the owner’s responsibility: INSIDE Change the batteries on all smoke detectors, including carbon monoxide detectors. Change your HVAC filter Clean your dryer vent at least once a year Clean your exhaust fan filter under your range hood Check your water heater for any signs of corrosion, and have it repaired if necessary Look for any signs of leaks under sinks and around toilets. OUTSIDE Maintenance … Continue reading “CONDO SPRING MAINTENANCE”

One sure way to know if a building is eco-friendly is whether or not it’s received: LEED CERTIFICATION (Leadership in Energy and Environmental Design). LEED addresses climate change and provides a framework for healthy, resource-efficient, and cost-saving green buildings.  LEED buildings involve: Innovation-novel features and procedures Materials and resources-responsible construction waste mgt and sustainable sourcing of materials Sustainable sites-sufficient green open space and light pollution reduction Indoor Environmental quality-use of natural light and efficient air conditioning Location and transportation-land protection and access … Continue reading “Is your condo eco friendly? Looking for an eco-friendly condo?”

Most condominium corporations have rules, regulations and by-laws that residents must abide by.  This includes things like complaints, guest suite privileges, gym hours and visitor parking.   A board of directors may make rules respecting the use of the common elements and of units to promote the safety, security or welfare of the owners and of the property and assets of the corporation, or to prevent unreasonable interference with the use and enjoyment of the units. Condo boards have a Duty to Enforce … Continue reading “Common Complaints from Condo Owners”

Canada housing prices are expected to continue to rise through 2022. More young adults leaving parents’  homes and new Canadians purchasing homes have been growing higher than usual.  The Windsor housing market is likely to continue to be a seller’s market in 2022 with expectations for an active year ahead by growing demand from move-over buyers and locals, low housing inventory and rising prices. Low inventory has been a common trend across many Ontario housing markets.  Move-up buyers in the … Continue reading “Housing Prices and Development”

A condominium board is responsible for the physical and financial well-being of the condominium corporation. They manage the day-to-day responsibilities, maintenance and repair of assets, and fiscal responsibilities of the corporation. Condo boards will hire a property management company to handle the daily operations of the corporation. This can lighten the load for busy board members, but the board of directors retains decision-making power and responsibility. Boards do not represent themselves nor the management: They represent owners and should be accountable to … Continue reading “What is it like to be on a Board and why you should consider joining your Condominium’s Board of Directors”

Here is what you need to know before you become a Board Member at your New Condominium. The board of directors represent the owners. Owners of a condo elect members to become a board member or become one themselves.There are certain criteria in order to become a board member including: be at least 18 years of age cannot be bankrupt be mentally competent. must complete the Condominium Director Training Program must comply with new disclosure obligation What does a condo … Continue reading “Living in a Condo? Thinking of Getting Involved? Why not a Board of Directors?”

Additional costs of owning an apartment or condo are the monthly maintenance fees which cover the costs of the upkeep of buildings, grounds, and common areas.What is involved with maintenance? 1 – Condo Safety and security Lighting/monitoring/sidewalks and parking lot/emergency equipment including smoke alarms/sprinklers/fire extinguishers 2 – Regular Condominium inspections/testing Maintain and repair facilities and all equipment including roof /insulation/ventilation/electrical/plumbing 3 – Cleaning the Rental Rroperties Both interior and exterior including outdoor garbage facilities/pest control The decision is yours – … Continue reading “Condo Maintenance Tips, Pros, and Cons: Managing a Condominium on Your Own”