Starting in fall 2017, Ontario condo owners will have new rights and easier access to information.
Ontario’s Ministry of Government and Consumer Services made the announcement in July of this year that they were moving forward with plans to better protect condo owners and residents by increasing consumer protections in Ontario’s condo communities.
The new law changes include:
- Regular mandatory updates about the condo corporation to help improve communication between condo boards and condo 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.
“Addressing the growing needs of condo communities across the province and supporting long-term sustainability of condo living is key to our government’s mandate. Creating new consumer protections will help to build more sustainable condo communities so residents moving into condos today and in the future will be able to look forward to healthy condo communities and peace of mind in the place they call home.” – Tracy MacCharles, Minister of Government and Consumer Services
With more Ontarians living in condominiums than ever before (1.6 million), and nearly three times as many condo units now than in 2001 (750,000 vs. 270,000), the importance of these updated regulations is clear.
By giving condo owners easier access to more information, and ensuring that condo corporations, boards, and managers are held to higher standards of operations, condo owners will be able to concentrate more on building communities and living happier lives, than worrying about what is going on behind closed doors.
To learn more about these changes and read them in full detail, visit: https://www.ontario.ca/page/condominium-law-changes