With over 10,000 condo corporations across the province, conflict between residents, condo boards and ownership corporations happen with relative frequency. To address some of these issues, Ontario has launched an online tribunal to help resolve condominium law disputes. The Condominium Authority Tribunal (CAT) will give parties immediate access to mediators and adjudicators. This is the first online-only tribunal in Ontario, but its success may inform future projects.
There is a great deal of news surrounding the rising cost of rent in Canadian cities. However, many condominium owners who seek to earn rental income from Ontario real estate investments are actually in the negative due to the cost of purchasing and maintaining a property. Proposed changes to condominium law and rental law may require these landlords to restrict the rents they charge while costs related to condo ownership continue to rise.
The legalization of marijuana has been a hot topic in Canadian business news. Ontario has released a plan about how it will handle the substance under provincial business law. Others across the country and around the world are looking at how the marijuana industry, valued at $23 billion, will operate and be legislated.
Technology and business developments such as Airbnb have caused a stir in both the rental housing and hospitality marketplaces. Many people have called for new condominium laws in Ontario to address this new factor, while condo boards have penned bylaws to limit owners' ability to rent their properties through Airbnb. However, one condominium has taken a different route and signed an agreement with the website. The partnership is the first of its kind in Canada.