Muhammad Hussain - Real Estate Broker


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Office: 416-203-6636 | Direct: 416-318-5264 BUYING, SELLING & ADVISOR OF NEW CONSTRUCTION CONDOS & HOUSES
Muhammad Hussain - Real Estate Broker

Common Expenses

The developer is responsible for allocating the contributions to common expenses to each unit. Usually the developer bases the allocation on the size of the unit; the larger the unit the greater the amount of payable towards common expenses. A developer however is not required to use this basis for common expense allocation.

A portion of the common expenses paid by the owners is transferred monthly to a reserve fund account. The reserve fund is the unit owners' savings for the major repair and replacement costs of the common elements which occur as a building gets older.

After Developer has transferred all Units in the Condominiums to the unit holder then Usually, a property management firm, under the direction of the Board of Directors, runs the day-to-day affairs of a condominium corporation. Some condominium corporations are self-managed. The board is responsible for carrying out the obligations of the Corporation as set out in the Act, the condominium documents (declaration, by-law and rules) and any agreements to which the corporation is a party.

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My Testimonials

“After 5 months of anguish, we were still unsuccessful in selling our condo, despite numerous price reductions. We Called Muhammad Hussain from Remax ,after our meeting with him that we knew we were in good hands. From our first meeting, Within 24 days of listing our loft, Muhammad sold it. The result was amazing! We attracted the highest ever sale price in our neighbourhood"
- Richard Hugh

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Toronto Listings Mississauga Listings Why Muhammad? 45 Harbour Square
Toronto, ON
Phone: 416-203-6636
Fax: 416-203-1908

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Toronto Real Estate Board - IDX Last Updated: 7/20/2018 6:38:31 AM