Quote:
Originally Posted by I-Hate-Hulse
And it's not just about space for kids. The long term sustainability of the "missing middle" is a matter largely ignored by housing developers and the real estate industry. Most of these missing middle units are less than 12 units which in Alberta means that the owners can complete their "own" reserve fund study without involving independent professionals. While some buildings do this properly, those same basic human economics kick in and typically underfund the long term capital needs of the building. I've seen some places have a "Board" in name only. Total governance dumpster fires.
That and you just get curmudgeonly when you get older and don't want to be told what to do (or not do) by some Board.
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The condo governance structure has enough fixed costs baked in (management, insurance, insurance for management, etc) that it isn't ideal for small buildings. I've been on the board of a few corps with 10 or less units and you just can't have professional management, a fully funded reserve, and reasonable fees. Pick 2 of 3 at most.
Maybe that missing middle type housing would be better organized as rental buildings, although that comes with its own set of issues.