New Key Protections for Condo Communities Take Effect this Fall
The Minister of Government and Consumer Services, Tracy MacCharles, announced our government’s new key protections for condo communities taking effect this fall. Most changes will take place on November 1, 2017, and include:
- Regular mandatory updates about the condo corporation to help improve communication between boards and owners.
- Improving condo corporation governance and addressing conflicts of interest by introducing new disclosure requirements for directors, including whether they are not owners or occupiers of units in the condo or if they have interests in contracts involving the corporation.
- Mandatory training for condo directors to improve how condos are managed and operated.
- Clearer rules to make it easier for condo owners to access records of their condo corporation.
- New notices, quorum and voting rules to make it easier for owners to participate in owners’ meetings.
- Mandatory education requirements for condo managers applying for a general licence.
Our government will also designate two new administrative bodies:
- The Condominium Authority of Ontario(CAO), when designated on September 1, 2017, will:
- provide quick, cost-effective dispute resolution services.
- help to strengthen financial management of condos.
- provide important information for condo corporations.
- provide education and promote awareness of condo owner rights and responsibilities.
- provide clarity on how to buy a condo.
- The Condominium Management Regulatory Authority of Ontario(CMRAO), when designated on November 1, will:
- ensure all applicants for a condo manager licence have completed or are working towards completing mandatory educational and examination requirements before qualifying for the licence.
- regulate and license condo managers and providers.
- provide online registry with information about licenced condo managers and management providers.
- offer public complaints and enforcement process, which will take effective on February 1, 2017.
If you are interested in receiving updates about condo law changes, please encourage them to subscribe to ONCONDO and visit https://www.ontario.ca/page/consumer-protection-when-buying-condo to learn more about consumer protection when buying a condo.