Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Question for those in Condo's with Office/Retail Spaces

I-Hate-Hulse · 09-11-2014, 11:46 AM

A lot of condos now have ground floor retail or even floors of office space. I'm curious to know how these are handled from a Board / Bylaws perspective. Are these:

1) Run as two separate Board Entities, with two sets of bylaws and two Boards? If so, how do you divy up common costs like a reserve fund / operating expenses? Is the Board responsible for finding retail tenants (presumably by hiring a commerical real estate broker to act on their behalf)

or

2) Run in some sort of combined fashion, but as a single Board / Bylaw?

09-11-2014, 11:46 AM	#1
I-Hate-Hulse Franchise Player Join Date: Jul 2003 Location: Sector 7-G Exp:	Question for those in Condo's with Office/Retail Spaces A lot of condos now have ground floor retail or even floors of office space. I'm curious to know how these are handled from a Board / Bylaws perspective. Are these: 1) Run as two separate Board Entities, with two sets of bylaws and two Boards? If so, how do you divy up common costs like a reserve fund / operating expenses? Is the Board responsible for finding retail tenants (presumably by hiring a commerical real estate broker to act on their behalf) or 2) Run in some sort of combined fashion, but as a single Board / Bylaw?