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The directors of RE/MAX Aboutowne Realty Corp., are pleased to announce the appointment of Heather to our dynamic sales team as Sales Representative. Heather‘s impressive record in sales, along with over 12 years of dedication to the profession makes her a valuable additon ot our office. Heather will be pleased to continue assisting you with any real estate needs you may have at her new location at HEATHER HISEY, Sales Rep. 842â€"7000 The late Adlai Stevenson once remarked, "There was a time when a fool and his money were soon parted, but now it comes to everybody," and never was this more apparent than today. As the dollar shrinks and expenses continue to rise, it is a wise Board of Directors that takes every precauâ€" tion to make sure that the affairs of their corporation are financially sound. Settling on common ground for comparisons One of the favorite expressions of former Mayor Koch of New York, when meeting his constituents was, "How‘m I Doing?" ‘There isn‘t a president or director of a conâ€" dominium board who doesn‘t wonder "Uaw‘m I Doine?" when he/she thinks "How‘m I Doing?" when he/she t about the operation of their corporation We learn through experience, and the experience of others can be a guide to our own course of action. What board hasn‘t wished to know how their corporation comâ€" common element fees per unit stand in pares to others when it comes to the amount it pays in maintenance fees, or how do their S1ze more of omparison to high rise units of comparable Are other townhouse condos paying re or less than theirs when it comes to management or insurance? Is their Reserve Fund per unit more or less than yours? It would be most helpful if such comparative figures were available, but how is one to go about getting them? The problem is that each condo has its own particular requirements. Units vary in size; corporations vary in number of units; amount and condition of common elements can be vastly different one corporation from another. To attempt to directly compare even similarly designed highâ€"rise buildings would be almost impossible for each could have completely different amenities. Some would have full time management, others with part time, or may even be selfâ€"manâ€" aged, so how does one go about trying to settle on common grounds for comparison purposes. Bass*. f The only possible way would be through the use of averages which would give us a rough guide as to how we might stand in comparison with others of a like size and similar type. Using this approach, we should be able to gain some insight as to where we stand and to do this we will be asking corporations in our chapter to fill out a questionnaire which would include whether it is a townhouse or highnise corpoâ€" ration, the number of units, and the average reserve fund balance per unit â€" this would be calculated by dividing the total reserve fund for each corporation by the number of units Other categones would also be covered, of which designed to allow some general aitecories would also be covered t So, if you are approached and are curiâ€" ous about what you are paying for services when compared to other condos of a similar size and situation, agree to contribute your financial statements to the study, for everyâ€" thing will be kept confidential and only averages of the various categories will be distributed. Or if you wish to participate in such a study, have your management apply to The Progressive Group at 23 Pearl St., Mississauga, Ontario LSM 1X1 for the necâ€" essary forms. : Condofax welcomes your questions about condominiums and can be reached through The Oakville Beaver at 467 Speers Rd., Oakville, Ontario L6K 384 or by calling The Golden Horseshoe Chapter of the Canadian Condominium Institute (CCT) at 521â€"8144. H. Penman Smith is a Burlington resiâ€" dent who has been active in all phases of condominium activity since 1975. He is viceâ€"president of the Golden Horseshoe Chapter of the CCI and former Condominium Information Officer with the Ministry of Consumer and Commercial Relations of Ontario.