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Protecting Condominium Owners Act, 2015

Protection for Ontario’s 1.3 million condo owners

Protecting Condominium Owners Act, 2015

Protection for Ontario’s 1.3 million condo owners

NEWS

September 15, 2015

Aurora, ON – As promised in the 2015 Budget, the Ontario government is moving forward with  Bill 106 – the Protecting Condominium Owners Act, 2015 (now in its second reading), that is intended to meet the needs of the provinces rapidly growing condo community. Ontario now has about 700,000 condo units and 10,000 condo corporations. More than half of new homes under construction in the province are condos and about 1.3 million people – or about 1 in 10 Ontarians – live in a condo.

 The proposed legislation is based on recommendations made by condo owners, residents, developers, condo managers and other experts in a comprehensive, 18-month public review of the existing Condominium Act.

  • Enable the establishment of a new body, a condominium authority that would provide quicker, low-cost dispute resolution and help prevent common disputes between condo owners and boards,
  • Strengthen financial management rules for condo corporations to help prevent fraud and mismanagement,
  • Provide clearer, more comprehensive rules to prevent purchasers from being surprised by unexpected costs after buying a newly-built condo,
  • Enable new training requirements for condo directors,
  • Enact a new statute, the Condominium Management Services Act, 2015 to regulate and license condo managers and management firms. If passed, this act would be administered by a new administrative authority,
  • Provide for the extension of most warranties under the Ontario New Home Warranties Plan Act to include certain condo conversion products.

 The proposed act does not cover all the details of the government’s plan for reforming Ontario’s condominium landscape and communities. In many cases, it simply creates a framework for reform. The proposed act would enable the establishment of two new administrative authorities; one to administer consumer awareness, dispute resolution and a registry of condo corporations, and the other to administer licensing for condominium managers.

 Today at Queens Park MPP Chris Ballard, PA to the Ministry of Government and Consumer Services will be highlighting the proposed positive impacts that Bill 106 will have on condominium owners.

 QUOTES

 “Buying a condo is one of the most significant purchases in a person’s life.  We are taking action to not only protect this important investment for owners, but for all those who call a condominium their home.”
— Chris Ballard, MPP for Newmarket-Aurora

 Contact:  
Jenny Duffy

Public Relations

Office of Chris Ballard, MPP

905-750-0019

jduffy@liberal.ola.org 

238 Wellington Street East Suite 203 Aurora, ON L4G 1J5 – Phone (905)750 -0019  Email: cballard.mpp.co@liberal.ola.org

 

 

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