Condo and Strata

CWB Maxium Financial provides financing options to condominium Boards faced with reserve fund shortfalls. Industry-leading professionals in condo financing enable CWB Maxium Financial to provide your corporation with prompt, reliable, creative solutions. We work with the Board, property managers, owners, engineering consultants and contractors – attending Board and owner meetings if requested, to ensure questions are answered and each condo’s unique set of circumstances is considered – prior to creating the financing solution.

Benefits of Financing:

  • Offers owners the ability to pay for capital expenditures over the useful life of the common elements repaired or replaced
  • Avoids deferral of common element repair and maintenance, reducing cost increases that may result from escalating contractor costs
  • Exercises the borrowing capacity of the corporation to secure equitable financing for all unit holders, regardless of individual borrowing capacity or the situation of unit owners
  • Improves the building and units’ market value with little or no increase in monthly fees
  • Avoids costly and divisive special assessments
  • Distributes costs of the repair over time
  • Allows the corporation to benefit from energy-efficient projects that have a short payback period but require a capital investment upfront
Balconies, Windows and Doors
The repair and replacement of a condominium’s balconies, windows and doors is a common and beneficial undertaking. Although they may be considered independent of each other, these items are often repaired or replaced at the same time as their lifespans and the contractors involved tend to be similar. The benefits are widespread and include improved heating and cooling efficiency, unit and building appearance and quality of living.
Guest and Superintendent Suites
The financing of a condominium corporation’s guest suite and/or superintendent suite is a strategic way to generate funds and reasonably allocate the value of the suites over a longer period that matches the useful life of the asset.
Energy Retrofits
Energy retrofits are an excellent way for a condominium corporation to address aging or inefficient HVAC systems and lighting throughout a building and realize a potential payback of a portion or all of the associated costs through improved efficiency, utility cost savings and government green initiatives. Energy retrofit projects offer the benefit of addressing current issues while at the same time potentially saving money, enhancing the attributes of a condominium corporation and increasing its overall value.
Parking Garages
Surface level and underground, multi-level parking garage repairs and rehabilitations are expensive and time-consuming and are often undertaken in phases to accommodate residents’ parking requirements as much as possible. Repairs may vary from the remediation of garage roof decks that are leaking to the complete rehabilitation of multi-level underground concrete parking structures. Flexible financing solutions can accommodate various project timelines and requirements.
Lobbies and Recreational Facilities
The replacement and updating of a building’s lobby decor, including flooring, wall coverings and lighting, can significantly enhance the appeal and pride of ownership of any building as well as add overall value to the units within the building. Similarly, updated recreational facilities, including swimming pools, workout rooms and party rooms, will heighten the attractiveness and quality of life within a condominium corporation.
Building Envelopes
The repair and restoration of building envelopes for low- and high-rise buildings and townhouses may include complete building facade replacement or work limited to specific areas, such as brick replacement and re-pointing. The repair and replacement of building envelope components can significantly enhance the appearance and value of the condominium corporation.
Elevators
Complete elevator replacement and modernization, as well as repairs necessary to ensure compliance with current codes and by-laws, are of significant importance to residents of low- and high-rise condominium corporations.
HVAC Systems
HVAC systems typically financed include rooftop boilers, heating and air conditioning systems as well as individual unit heating and cooling systems and their respective controlling units. These types of projects may also include all of the related plumbing and electrical requirements.