The Ontario government recently announced that it would be undertaking a review of the Condominium Act and public consultation with condominium community stakeholders, including owners, residents, developers and property managers.
A number of issues of concern were identified:
Consumer protection for condominium buyers
Condominium finances and reserve fund management
Condominium board governance
Accreditation of condominium managers
Since the Condominium Act, 1998 was enacted in 2001, there have only been minor changes to the legislation. In the same time period the number of condominiums being constructed has grown tremendously, with the GTA being the hot-bed of condo development in North America.
The release of this press announcement seems to indicate that through the efforts of ACMO and CCI, the government is finally proceeding with a serious review of the legislative brief prepared by ACMO and CCI’s legislative committee. The process of preparing the legislative brief involved representatives from the condominium industry coming together with recommended changes to specific sections of the Condominium Act. A recent private member’s bill (which has been the focus of a lot of media attention) proposed some amendments to the Condominium Act. While it was recognized that changes to the current legislation are needed, there were concerns in the condominium community that the private member’s bill was very limited in scope and introduced without consultation and input from all major stakeholders in the condominium industry. With the government’s announcement we expect that the private member’s bill will not be moving forward.
Readers who are interested in participating in the consultation process should watch the government’s website for details on how to participate. We will be reporting on updates.