*AI was used to create this video
Welcome to the hidden reality of many condominiums!
Contracts are awarded to affiliated companies and preferred vendors.
Scopes of work are assessed in conditions rife with conflict.
Tenders are restricted—or simply bypassed.
Results? Rarely inspected. Not by the board. Not even by the manager.
Examples of Decisions Made in
Conditions of a Conflict of Interest:
1. Builder-Appointed Turnover Board Members employees or related parties or people with long-standing relationship with the builder for the turnover Condo Board, claiming they represent condo owners interests.
A conflict of interests arrises: When the one who represents a buyer or a potential buyer is linked to the seller, the integrity of the decision-making process is questionable.
2. A decision to get $500,000 loan and + ~ 40% of that amount as interests for 7 years $200,000 on behalf of owners.
A conflict of interests arrises: When the one who made a decision to award a contract is linked to the one who gets the contract and benefits from it, the integrity of the decision-making process is questionable.
3. A decision to hire the builder’s affiliated management company and sets their own fees.
A conflict of interests arrises:
The party being hired should never have the power to influence the hiring decision. This erodes trust and inflates costs. When the one who awards the contract is linked to the one who gets it, the integrity of the decision-making process is questionable.
4. Pre-selection of affiliated condo service providing companies and companies with long-term relationships with a builder or a management company.
A conflict of interests arrises: When the one who is suggested for awarding the contract is linked to the one who is going to get a contract and perform the job, the integrity of the decision-making process is questionable.
5. A management company has to discover a building deficiencies and make condo builder to fix them or pay to be fixed.
A conflict of interest arises: When the party responsible for discovering, investigating, and enforcing the correction of issues is linked to the party being held accountable. In such cases, the integrity of the decision-making process is highly questionable.
6. Pre-selection of a condo service providing companies with long-term relationships with a builder or a management company when the same contractor:
Conducts the reserve fund study,
Evaluates the scope of upcoming work, and
Recommends contractors to perform that work (especially if affiliated),
…it undermines independence and objectivity. This setup creates a big risk of a scope and a price inflation or steering contracts for personal or corporate gain – at the expense of condo owners.
In fact, the Condominium Authority of Ontario (CAO) discourages or prohibits this exact practice for that reason.
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Let us show you:
- what’s really happening with your condo’s money,
- how much you could save, and
- how you could get back full transparency, better efficiency, and full control and condo management accountability!
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