By Staff
January 11th, 2021
BURLINGTON, ON
Given the number of condominiums that are either in the early stages of construction or in the planning approval process – it would follow that more people are going to live in condominiums.
The operation of a Condominium Corporation is not like running your ball team. It is complex.
The Ministry of Government and Consumer Services would like to invite you to participate in a written consultation on potential permanent changes to enable digital and virtual processes under the Condominium Act, 1998.
Nautique – an ADI Development: When built it will operate as a Condominium Corporation. If you buy – you might want to know how that corporation is going to work
The Legislature passed the COVID-19 Response and Reforms to Modernize Ontario Act, 2020 which, among other things, made temporary legislative amendments to the Condominium Act, 1998 related to virtual meetings and the deferral of annual meetings in some circumstances in response to the COVID-19 pandemic.
These temporary legislative amendments were further extended by regulation to permit corporations to call and hold meetings as applicable through electronic and telephonic means, notwithstanding certain requirements until May 31, 2021.
The Ministry is now seeking your input on whether further temporary or permanent amendments are required under the Condominium Act, 1998 in relation to virtual processes, as corporations adapt to new ways of doing business that are more digital/virtual allowing for broader participation. The Ministry has developed a Condominium Act, 1998 Feedback Form that consists of targeted questions intended to guide participants feedback regarding (1) virtual meetings, (2) electronic delivery of notices and documents, and (3) storage/examination of records through electronic means.
The Feedback Form is now posted on Ontario’s Regulatory Registry for public comment. If you wish to participate we encourage you to provide feedback on these topics at the following link by 5 p.m. on February 8th, 2021.
The link for comments is HERE
Owning a condominium is not for the faint of heart.
For the first year the building falls under the developer. The owners take possession after the first year. By that time there are things in place that are almost impossible or very difficult to change. I suggest you have your lawyer read the rules of the corporation prior to buying a unit.
It is during this first year that most or all visitor parking spots are sold to prospective buyers, if they were promised as part of the development planning to the city. This is why some of the condominiums downtown have no visitor parking.
From past experience it is important to have people sitting on your condo board ( 1 year after purchase) with expertise. A lawyer, an engineer, a chartered accountant, someone who understands budgeting and investing, and someone who knows about construction.
The building will have problems and it is imperative that the people sitting on your board are more than just your friends and actually can deal with hiring a property management company, or a cleaning company etc. or dealing with engineering problems.
Every owner pays into Tarion. Unfortunately it is very difficult to get any help from them.
Buyer beware.