The predominant concern appears to be that the proposed legislative amendments will create confusion, not clarity, and that passing special resolutions will be made much more difficult and costly in terms of imposing additional administrative requirements. Many of these inquiries have also assumed that calculating the result of a special resolution vote is based on the total number of units in a condominium. As I will explain, this is incorrect.
Condominium corporations benefit greatly when board members have financial knowledge and follow common-sense financial management processes. Does your condo board include at least one person with financial experience, who can analyze and clearly communicate the condominium corporation’s current and forecast financial position to other board members and all owners?