As many of you Condo Geeks know, there are many planned changes to the Condominium Act that are not yet in effect. To see what these sections are, you can look at the Act here. Sections highlighted in grey are not yet in force.
Several steps are required in order to implement more of these proposed changes, including adopting additional regulations. Moving in this direction, the Ontario government is continuing with its consultation process. As part of this, the province is asking all of us to provide feedback and thoughts on the following Condo Act topics:
- Pre-construction purchases: Changing the amount of interest that would be owed to a purchaser who makes deposits and other payments on a purchase into a pre-construction condo project, by the developer, if the condo project is cancelled and in other circumstances;
- Interim occupancy Fees: Clarifying how interim occupancy fees are handled by developers;
- Condo Buyers’ Guide: Requiring the CAO to develop a condo guide for buyers and require developers to provide it at the point of purchase;
- Procurement: Establishing guidelines or standards that will govern how condo corporations are to procure goods or services;
- Chargebacks: Establishing a process whereby condo corporations could add charges to an owner’s common expenses (condo fees), under certain circumstances;
- Reserve Fund: Clarifying how contributions are made to reserve funds, the manner in which they can be used and how reserve fund studies can be conducted; and
- Mediation and arbitration: Clarifying the processes for mediation or arbitration between corporations and owners.
We encourage everyone to provide their feedback during this consultation process. To do so, click on this link! This link will bring you to user-friendly guide, where you can easily provide your thoughts on these topics. Providing your views has never been this easy!
The deadline to provide input on these is March 10, 2020.
Rod (like many others) has been invited to a consultation meeting on these topics. We’d love to hear from you in preparation of this meeting. Share your thoughts on any (or all) of the above: