Update On The Condominium Act Review Process

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http://www.condoreporter.com/assets_c/2013/01/person%20signing%20document-thumb-300x199-14292-thumb-300x199-14449-thumb-300x199-18635-thumb-300x199-19074-thumb-300x199-22455.jpgCanada’s Public Policy Forum released its report to the Ontario Ministry of Consumer Services containing findings from Stage One of the Government’s Condominium Act review process.  Stage One of the three-stage review process was the collection of feedback from various stakeholders in the condominium industry, including 

  • a residents’ panel representing a wide diversity of condo owners across the province
  • condominium industry associations, developers, property managers, lawyers, accountants, engineers and other professionals providing services to the condominium industry
  • individuals and groups who attended public forums and sent e-mails and submissions 

The report highlights six areas of concern that need to be addressed in the re-vamping of the Condominium Act

  • Governance
  • Dispute Resolution
  • Financial Management
  • Consumer Protection for purchasers buying condominiums from developers
  • Condominium Manager Qualifications
  • Issues Outside the Condominium Act, such as for example property taxes, insurance, condominium conversions of existing buildings, tenant rights and responsibilities 

Stage Two of the review process will start  in March, 2013.  Groups of experts (which will include owners) will review the report and then develop detailed options for revision of the Condominium Act.

The Ontario Government’s condominium review website has a copy of the full report and a summary for anyone interested in reading more.

Topics:  Condominium Act, Condominiums

Published In: Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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