Information
Consultation on topics under the Condominium Act, 1998
Regulation Number(s):
N/A
Instrument Type:
Information
Bill or Act:
Condominium Act, 1998
Summary of Proposal:
The Condominium Act, 1998 (Condo Act) governs the rights and responsibilities of the condo community including developers, purchasers, owners, mortgagees, residents, condo corporations and their boards.
There are many changes in the Condo Act that are not yet in effect and several steps are needed to bring these changes into effect, including consultations with the condo sector and the development of associated regulations.
In December 2019 the government announced changes under the Condo Act in conjunction with the introduction of the Rebuilding Consumer Confidence Act, 2020, and committed to consulting with stakeholders and the public on further Condo Act topics related to:
• 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;
• Requiring the CAO to develop a condo guide for buyers and require developers to provide it at the point of purchase;
• Establishing guidelines or standards that will govern how condo corporations are to procure goods or services;
• Clarifying how interim occupancy fees are handled by developers;
• Establishing a process whereby condo corporations could add charges to an owner's common expenses (condo fees), under certain circumstances;
• 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
• Clarifying the processes for mediation or arbitration between corporations and owners.
The ministry welcomes feedback and encourages anyone interested to provide comments. You may submit your comments to the Regulatory Registry.
There are many changes in the Condo Act that are not yet in effect and several steps are needed to bring these changes into effect, including consultations with the condo sector and the development of associated regulations.
In December 2019 the government announced changes under the Condo Act in conjunction with the introduction of the Rebuilding Consumer Confidence Act, 2020, and committed to consulting with stakeholders and the public on further Condo Act topics related to:
• 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;
• Requiring the CAO to develop a condo guide for buyers and require developers to provide it at the point of purchase;
• Establishing guidelines or standards that will govern how condo corporations are to procure goods or services;
• Clarifying how interim occupancy fees are handled by developers;
• Establishing a process whereby condo corporations could add charges to an owner's common expenses (condo fees), under certain circumstances;
• 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
• Clarifying the processes for mediation or arbitration between corporations and owners.
The ministry welcomes feedback and encourages anyone interested to provide comments. You may submit your comments to the Regulatory Registry.
Further Information:
Feedback Form - February 2020
Proposal Number:
20-MGCS003
Posting Date:
February 10, 2020
Comments Due Date:
March 10, 2020
Contact Address:
56 Wellesley Street West,
Toronto, ON
M7A 1C1
Toronto, ON
M7A 1C1