CNDO 009 - Common Expenses for Condominium Managers
Course Description
Humber College's CMRAO Continuing Professional Education (CPE) course, Common Expense Management for an Empowered Condominium Professional, empowers condominium managers with essential knowledge on common element fees, the declaration and financial statements.
By the end of this course learners will:
- Learn how to collect the common expense.
By the end of each module, you should be able to:
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Module 1: Common Elements
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Differentiate between freehold condominium and leasehold condominium corporation.
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Explain the critical role of the declaration.
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Identify the contents of the declaration.
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Module 2: Common Expense Fees
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Identify common expenses for condominium corporations.
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Differentiate between special assessments and chargebacks.
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Discuss strategies to minimize the risk of special assessments and chargebacks.
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Module 3: Annual Budget
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Explain the purpose of a financial statement
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Discuss how the operational fund can impact adjustments to the common expense fee.
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Identify the steps in the lien process.
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Applies Towards the Following Certificates
- Empowered Condominium Professional : Compulsory Courses