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Posts tagged "Condominium Law"

Condo Units Are Increasingly Popular Amongst Boomers

Baby boomers (generally those born between the late 1940s to 1960s) are beginning to show signs of downsizing. According to an article in the National Post, their millennial children (generally those born during the 1980s and 1990s) are finally beginning to move out on their own. This means that their parents can finally explore their real estate options now that they have an empty nest.

What is a condo declaration?

A condo declaration, as defined by the Condominium Authority of Ontario, is a collection of documents that allow a condominium corporation to be formed. Sometimes called a "declaration and description," these documents are filed with the land registry office as part of registering the condominium with the province. 

Online tribunal may help with some condominium law disputes

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.

Condominium law restricting rents may affect investors

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.

New Airbnb partnership may impact condominium law

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 Condominium Authority Tribunal

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.

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