Today is a big day for the condominium industry as the Joint ACMO and CCI (Toronto) Legislative Committee submitted its extensive Legislative Brief to the Ontario Government and all political parties. The Brief consists of 102 pages of suggested changes (you can read an Executive Summary) to the Condominium Act, 1998 (the "Act"). Both the Association of Condominium Managers of Ontario and the Canadian Condominium Association (Toronto and Area Chapter) have published news releases and sent out email blasts to all their members announcing the submission of the Brief.
Years in the making and with input from every sector of the condominium industry including owners, developers, engineers, lawyers, auditors, property managers, the members of ACMO and all 7 Ontario Chapters of CCI (individually and through CCI's Ontario Caucus), the Brief represents a in-depth analysis of what should be changed in the Act since it received Royal Assent in 1998 - particularly in light of the explosive growth of residential condominiums in Ontario since then (now about 7,000 corporation with over 1.3 million Ontarians living in them)
Tony Wong, of the Toronto Star, published an article today in the the business section of the Star entitled "Condominium Act outdated, experts warn", in which he discusses the Brief.
The joint ACMO & CCI (Toronto) Government Relations Committee will continue its efforts with all political parties to have them become aware of, and recognize, condominium issues and the need for substantial changes to the Act. With this being an election year, and with more than 500,000 voters living in condominiums, it is hoped that the parties will recognize the importance of the condominium industry, and that after the election the government will decide to re-open the Act for significant changes.