in association with

For more information, please contact
Blake Barrigar at

(647) 270-7542
or via email at blakeb@maxium.net

In Western Canada
please contact :
Paul McFadyen at
(604) 506-8531 or
or via email at
pmcfadyen@maxium.net


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Do your building’s common elements require upgrades to maintain or enhance condo owners’ property values and quality of life?

What do you do when your reserve fund study reveals capital requirements larger than available reserves?

Lighting retrofits, building automation systems and high efficiency boilers can pay for themselves in energy savings!

Does it make sense to implement an energy retrofit now?

THESE ARE TYPICAL QUESTIONS FACED BY CONDOMINIUM DIRECTORS.

 

TERM FINANCING FOR
CONDOMINIUM CORPORATIONS

Ontario’s Condominium Act requires every condominium corporation to develop a sound financial plan that is aligned with the expected costs of major repairs and replacement of the common elements and assets of the corporation. The law requires it. Unit owners demand it.

Maxium Condo Finance Group offers innovative financing solutions that help condominium corporations achieve their infrastructure improvement objectives while minimizing the need for fee increases or special assessments.

We provide:

  • Competitive long-term fixed-rate financing for infrastructure repairs and improvements. Term and amortization periods are customized to suit each project.
  • Floating rate progress payment facilities to finance the improvement through the project phase.

We are eager to learn about the financial challenges faced by your condominium! Maxium Condo Finance Group can work with you to propose a financing solution customized to your unique requirements.

 

 

 

CONSIDER AN EXAMPLE SITUATION

In a 175 unit condominium complex, the board had just received the results of a comprehensive reserve fund study. The study called for parking garage and building wrap repairs in the amount of $2,000,000. These measures would prevent further deterioration, save energy and enhance both resale values and quality of life.

The owners didn’t believe it is wise to wait, and depleting their existing reserve fund was not an option. The unit owners placed high value on pride of ownership and were eager to get the job done within the next 12 months

Two options considered were as follows:

  1. A special assessment on average of $11,428 for each owner.
  2. A solution from Maxium Condo Finance Group, where owners would pay just $138 extra per month for a fixed period.

The financing option from Maxium Condo Finance Group was the responsible choice because it allowed the cost to be spread over the time when the projects benefits were to be realized. It was well received at the owners’ meeting too!

 

 

ABOUT MAXIUM

Maxium Condo Finance Group is a division of Maxium Financial Services Inc., an Ontario-based Canadian company formed in 1993. Maxium has enjoyed ongoing growth and continuing success by adhering to a specific formula: We strive to build long term relationships in markets we understand well and where we can add high value. We continue to build on these core competencies.

Examples of our specific market experience includes the following:

  • Technology, material handling and other equipment financing solutions to leading private and public sector organizations
  • Golf cars and turf equipment financing to Canada’s finest golf courses
  • Building infrastructure repair and improvement financing to Canada’s major commercial landlords
  • Financing solutions and consulting services to private and public healthcare providers

A SOLUTION CUSTOMIZED TO YOUR REQUIREMENTS

Maxium Condo Finance Group works with the condo board, the property manager, engineering consultants and contractors as necessary to fully understand each condo’s unique set of circumstances.

Whether the project cost is $100,000 or $4,000,000, if it makes sense, Maxium Condo Finance Group will provide financing to any residential condominium in Ontario that is managed in a responsible manner.