Highlights of the Condominium Act

 
This article is just going to touch on some of the iitems in the Act that may be of interest to you:
 
1. The Act permits new types of condominium developments. This means you could have a condo of just the common elements. As an example a number of homes could have a common swimming pool condominium. Vacant land can be condominiumised and there can be phased, and leasehold condominiums.
 
2. If there are existing condominium corporations registered within the same land registry division provided 90 per cent of unit owners consent in writing within 90 days of a meeting called to consider the issue they may amalgamate into one condo corporation which will save on expenses and administration but I can see some real issues as to equality evolving.
 
3. One of the rights granted is the right of a purchaser of a new unit to make full payment of the purchase price during interim occupancy.
 
4. One of the many things I am not happy about is the power given to Condominium corporations to pass an occupancy standards bylaw, or a more restrictive bylaw based on the design of the building. This will allow the corporation to charge extra for increased use of common elements and utilities
 
5. Don't go into arrears because the condominium corporation is entitled to a preferential lien against a defaulting owner's unit and common interest for an unpaid amount, in addition to interest, collection fees and legal costs.
 
6. Should you get into a dispute with your condo corp (over dogs, maintenance, etc.) you must try ADR first and if mediation doesn't work you can still go off to court
 
7. If you notice some extra charges in the annual budget for something called reserve fund studies that's because the corporations are now required to periodic studies and updates, and maintain reserve funds at prescribed levels.
 
8. Another charge that you may see passed on relates to post-construction audits of the common elements. This is necessary for new condominiums to preserve warranty coverage under the Ontario New Home Warranty Program.
 
9. In order to avoid controversy as to what means complete there are new Regulations on completion which define when a building is deemed completed for the purpose of registering a condominium corporation and thereby allowing the condominium to be transferred.
 
Perhaps the most difficult part of writing these articles relates not the actual writing, but thinking of a topic to address. So help me!!! Mail, deliver or fax letters to the magazine or to us, use the web site (www.schwarzgillen.com), email (schwarzgillen@sprint.ca) and give us your questions, concerns, critiques and quandaries. I will try to deal with them in print or electronic form. Good luck and happy condo hunting I'll talk to you next issue!!
 

Home | Todays Tips | Articles of Interest | Legal Fees & Services | Credentials