Welcome guest.  ( Sign in )

New Rules for Condominiums to take effect this fall.

July 25, 2017 - Updated: July 27, 2017

Starting this fall, new rules will make it easier for Condo owners to participate in owner's meetings and will make it easier for them to access records of their Condo Corporation.

 

 
 
TORONTO, New protections for condo owners and rules for managers and directors in Ontario are taking effect this fall.

Government and Consumer Services Minister Tracy MacCharles says more than one in 10 people in the province live in a condo and more than half of the new homes under construction are condos.

Starting this fall, new rules will make it easier for condo owners to participate in owners' meetings and will make it easier for them to access records of their condo corporation.

Directors will have to disclose whether they are owners or occupiers of units in the building or if they have interests in contracts involving the corporation, which MacCharles says will improve governance and address conflicts of interest.

Directors will also have to undergo training and there will be mandatory education requirements for condo managers applying for a general licence.

Two new administrative bodies will launch this fall, the Condominium Authority of Ontario will provide education about condo owner rights and responsibilities and will manage the tribunal that resolves disputes about access to records, and the Condominium Management Regulatory Authority of Ontario will regulate and licence condo managers.

The Canadian Press 

 

source: http://www.canadianrealestatemagazine.ca/business-news/new-rules-for-condos-in-ontario-taking-effect-this-fall-228645.aspx


Tagged with: condo condominium
| | Share

New Mortgage Stress Test Rules

Originally posted on: October 18, 2017
Filed under: mortgage stress test
News Release For Immediate Release OTTAWA - October 17, 2017 - Office of the Superintendent of Financial Institutions Canada Today t ...

Google Makes Huge investment in Toronto

Originally posted on: October 18, 2017
Last updated on: October 18, 2017
Filed under: google investment investing toronto
Google's Sidewalk Labs signs deal for 'smart city' makeover of Toronto's waterfront The partnership between a U.S. urba ...

Happy Thanksgiving!

Originally posted on: October 6, 2017
Last updated on: October 6, 2017
Filed under: thanksgiving

The Difference between Mortgage Investment Corporations and Individual Mortgage investments.

Originally posted on: September 28, 2017
Last updated on: September 28, 2017
Filed under: mortgage mortgage investments investments
This is a great article if you are an investor or have been looking into investing. If you would like to speak with us regarding the article ...

Has your Credit information been breached?

Originally posted on: September 12, 2017
Filed under: equifax data breach
You may want to look into this. It has mostly affected the United States but there are some Canadians that had their personal information taken. ...


Durham Bungalows
Brokerage
Independently owned and operated.

420 Green Street #105
Whitby, ON L1N 8R1


Phone: 1-905-995-0460
Powered by Lone Wolf Real Estate Technologies (CMS6)