It will be a brand new experience as Canada celebrates its 153rd birthday as a federation! While fireworks will be virtual and most activities on line, Port Coquitlam firefighters are coming as close as possible to the norm. They are hosting their annual charitable fundraiser at Firehall #1 – 1725 Broadway St, where you can drive through their barbecue and pick up your $10 hamburger, chips & drink. As you walk around Lafarge Lake & Town Centre Park in Coquitlam music will be in the air – not quite the largest July 1 celebration on the Lower Mainland that we are accustomed to! For all other local city activities you will be watching from the couch!ONE LIVE PERFORMANCE needs your participation on Canada Day at 7pm – as across our communities and the country we all sing ‘O Canada’ in support of our conscientious front line workers. We’ll be there!
Latest words on STRATA INSURANCE:
By now we are all aware that our premiums and deductibles have risen and in some cases, skyrocketed. For insurance companies, the risk is paramount and following record catastrophic losses globally and escalating claims costs in strata corporations, many companies have lost the appetite to cover stratas. This leaves the few remaining companies sharing the load while buildings have a value considerably higher than 5 years ago and restoration materials are more expensive.
This is the nutshell version of where we are at, so what can stratas do moving forward to mitigate the costs of insurance? Condominium Homeowners Association has the answers. Buildings must be maintained to the best possible standards, spending some money now to stave off future insurance increases and possibly attract lower insurance costs. Buildings without a current depreciation report, a detailed maintenance plan or constant vigilance on the condition of their building will at best continue to pay the high premiums and at worst, be unable to obtain adequate insurance. In this dire instance, the building is in contravention of the Strata Property Act.
The proactive strata improvement suggestions are on the CHOA website – well worth reading for condo owners and buyers. www.choa.bc.ca.
We’ll join you for the national anthem on Wednesday. In the meantime, we are available to answer your questions and consult with you on real estate – both selling and buying. We have you covered both virtually and safely in person.
HAPPY CANADA DAY from Generations Real Estate Partners – Michelle Hawthorne, Scott Johnson, Sheila Francis, Ray Harris and Shane Goutsis.