Amended Condo Act
WHAT IS IT?
Amendments to the Condominium Act 1998 have come into force, with the final changes expected to take place in February 2018. These changes include increased protections for condo owners, including improvements to how condos in Ontario are governed, and greater transparency and accountability of condo boards.
WHAT IS IMPORTANT FOR OWNERS?
There are a number of improvements intended to provide Owners with more control, knowledge, awareness and management of the affairs of their condominium corporation. This includes:
- Improved communications from condo boards
- New voting rules
- Condo directors disclosure and training
- Improved records requirements
- Condo authority tribunals, and
- Required training, education and licensing of condominium managers and firms
The implementation of the Condominium Authority of Ontario and its tribunal, as well as new education and licensing requirements for managers will all come with increased costs to the Government of Ontario and increased work for property managers. As a result, these additional costs will be passed on to condo owners directly through increases to your condominium fees. These will be reflected in the new budget for 2018-2019 to be presented at the next Annual General Meeting.
WHERE CAN I GET MORE INFORMATION?
There is a wealth of information provided by the new Condo Authority of Ontario, the Condo Directors Group - Ottawa, the Canadian Condominium Institute – Eastern Ontario Chapter and others. Rather than duplicating information available elsewhere, we have provided the following links so that you can learn in detail about the topics that interest you most.