Article from Volume 13, Issue Number 2, 2025
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The condo board playbook: a systematic approach to managing budgets, projects and people
By Prince Soriano | Other articles by Prince Soriano | Feature
Being a condo board member isn’t just about attending meetings and voting on decisions — it’s about managing a multi-million-dollar asset while balancing budgets, projects and community expectations. Many board members take on the role with little experience in property management, financial oversight or project planning, yet they are tasked with making critical decisions that affect owners, residents and the long-term stability of the condominium.
Through my experience in engineering, property management and condo governance, I’ve seen how a systematic approach — one that emphasizes planning, organization and clear processes — can transform how boards operate. This playbook provides a structured framework for condo boards to manage financials, oversee projects, communicate effectively and resolve conflicts.
Whether you’re facing a budget shortfall, a major repair project, or resident disputes, this playbook will help your board operate efficiently, reduce stress and make informed, proactive decisions.
1. Managing budgets: seeking financial stability
Financial oversight is an important responsibility of condo boards and one that can be very challenging. Poor budgeting can lead to fee increases, special assessments or even legal and operational issues. Manitoba’s Condominium Act requires that boards maintain proper operating budgets and reserve funds, but simply following regulations isn’t enough: You need a financial strategy.
Key financial strategies for a strong board
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Annual budgeting: Build an operating budget based on predictable costs such as insurance, utilities and regular maintenance. Insurance premiums in Manitoba have been rising, so boards need to plan accordingly.
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Reserve fund planning: Manitoba law mandates a reserve fund study every five years, but reviewing it annually ensures long-term stability and helps avoid unexpected special assessments.
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Monthly financial reviews: Tracking spending versus budget helps boards adjust before deficits occur.
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Transparent communication: Owners are more likely to support fee increases when they understand why they are needed and how funds are used.
Example:
A condo board notices its heating costs are exceeding budget due to an aging boiler. Instead of raising fees immediately, it uses its reserve fund study to plan a boiler replacement over three years, allowing for a phased increase in fees rather than a sudden special assessment.
2. Project management: running capital and maintenance projects smoothly
From roof replacements to elevator upgrades, condo boards oversee major capital projects that require careful planning. Without a systematic approach, projects can run over budget, face delays or cause frustration among owners.
Best practices:
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Plan with a long-term vision: Manitoba’s short construction season means external projects need advance planning.
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Obtain multiple quotes: Competitive bidding ensures the board gets the best value while maintaining quality.
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Schedule work smartly: Winter is ideal for planning; spring and summer are for execution.
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Communicate with owners: Residents should know what’s happening, why and when to expect disruptions.
Example:
A board needs to repave the parking lot but worries about rising costs. Instead of waiting, it obtains bids in winter, securing better pricing before contractors book up for peak season.
3. People management: navigating owners, vendors and board dynamics
A condo board must balance relationships with multiple stakeholders:
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Owners who want reasonable fees and well-maintained properties.
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Residents who value comfort, safety and services.
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Vendors who provide maintenance and capital project work.
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Fellow board members who might have differing opinions on priorities.
Mismanaging these relationships leads to tension, delays and inefficiencies. A systematic approach ensures smooth communication, conflict resolution and accountability.
How to manage condo board relationships effectively:
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Set clear policies: Establish governance rules for dealing with disputes, vendor selection and owner concerns.
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Vendor oversight: Ensure contracts are well-defined, whether it is for routine maintenance or emergency situations, having a predefined list of vendors ensures efficiency.
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Encourage collaboration among board members: Respectful, data-driven discussions lead to better decisions.
Example:
A condo board faced pushback from owners after it increased condo fees. Instead of dismissing concerns, the board hosted a town hall, explained cost drivers (rising insurance, aging infrastructure) and provided financial reports. This proactive approach reduced owner frustration and built trust.
4. Communication: the key to board success
Poor communication is one of the biggest pitfalls for condo boards. Many issues — whether it’s a fee increase, a major repair or a bylaw change — become controversial not because of the decision itself but because it wasn’t properly communicated.
Best practices:
Use multiple channels: Email, newsletters, bulletin boards and online portals help reach different demographics.
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Provide regular updates: A monthly board update keeps owners informed and engaged.
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Hold open meetings: Transparency builds trust and reduces complaints.
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Be clear and concise: Avoid legal jargon and write in a way that owners understand.
Winter specific tip:
During winter, effective communication is critical for snow clearing schedules, emergency heating issues and parking restrictions. Boards should have a pre-planned communication protocol to handle seasonal challenges efficiently.
5. Conflict resolution: a structured approach to handling issues
Disputes are inevitable in condo living — whether it's noise complaints, parking conflicts or disagreements over fees. Boards that take a structured, neutral approach resolve issues faster and with less frustration.
Conflict resolution framework for condo boards:
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Stay objective: Focus on the facts, not personal opinions.
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Refer to governing documents: Let the condo declaration and bylaws guide decisions.
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Follow a consistent process: Have a clear protocol for addressing complaints.
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Communicate outcomes clearly: Even if residents don't get the answer they want, a well-explained decision reduces backlash.
Example:
A condo faced repeated noise complaints from one unit. Instead of letting tensions escalate, the board followed a structured mediation process, cited noise bylaws and provided soundproofing recommendations — resolving the issue without legal escalation.
6. Building sustainable systems for long-term success
One of the biggest challenges for condo boards is board turnover. When experienced members leave, valuable knowledge is lost. Strong systems ensure continuity and prevent future boards from having to "reinvent the wheel."
How to create sustainable board systems:
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Digital archives: Store meeting minutes, budgets and reserve-fund studies in an accessible online system.
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Board transition plans: Create a "Board Manual" to guide new members.
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Standardized vendor contracts: Keep contract templates for consistency.
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Use technology: Property management software can track financials, maintenance requests and communication.
Manitoba trend
Many Manitoba condos are adopting digital board portals that streamline financial tracking, maintenance schedules and document storage — reducing administrative headaches.
Conclusion: A systematic board is a successful board
Condo governance is complex, but a well-organized, process-driven approach leads to smoother operations, fewer conflicts and better financial stability.
By treating the condo board like a business, applying project management principles, maintaining financial discipline and fostering transparent communication, you create a well-run condo corporation that benefits every resident. The best boards don’t just react to problems — they build systems to prevent them. With the strategies in this playbook, your board can operate more efficiently, reduce stress and create a thriving condo community for years to come.
Prince Soriano is the co-owner of Canopy mgmt, a full-service residential property management and maintenance company. Canopy mgmt is a CCI Manitoba business partner member. Soriano can be reached at prince@canopymgmt.ca.
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Vol. 13, Issue 2, April 2025
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