Condominium ownership comes with many benefits. It also comes with rules and regulations that govern everything from maintaining your unit and how much your condominium fees will be every month to what type (if any) pets you can have.
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.
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.
The Ontario Government has created a new administrative condominium authority through amendments to the Condominium Act. The government developed the Condominium Authority Tribunal (CAT) to make dispute resolution easier and more cost-effective for owners and corporations. It will begin operations on November 1, 2017.
When choosing to invest in a condominium, buyers need to take monthly condo fees into consideration. Understandably, increases to these fees can cause a stir and many buyers want to understand what kinds of increases are allowed under condominium law. In Ontario, this has become a particular concern for many as condo fees have the potential to rise significantly, especially when special assessments are levied against condo owners.
As condo owners' lives change, they often have questions as to what their building will allow. One of the changes that often concerns Ontario condo owners is the addition of a new car and the need for parking. Many people wonder if condominium law establishes any protocol for obtaining an additional parking space in their buildings.
When searching for a condo, buyers should consider if a prospective unit will also be a comfortable living situation for any children or pets. With regards to the latter, condominium law and condo board regulations may be in place regulating the types of pets or pet behaviour allowed in a building. Those who own an Ontario condo and have a concern about a neighbour's pet or their own should be aware of these rules.
Real estate buying and selling involves a great deal of paperwork. It can be tough to go through all the forms and certificates and understand which details are most important. For people investing in condos rather than houses in Ottawa, there are some extra specific steps needed according to condominium law. A status certificate is one such consideration.
Many Canadians are looking for ways to live more environmentally-friendly lives. However, those living in a residence where condo bylaws apply may face challenges in doing so. When making lifestyle changes, such individuals must be considerate of the agreements for renovations and energy use. A resident of Ottawa learned this the hard way when she was ordered to pay extra for the hydro she was using to charge her hybrid electric car in the building parking lot.