Canada's Condominium Magazine
Ontario will implement new rules designed to improve condominium corporation governance and conflicts of interest. New training regulations, additional rules and conflict-of-interest guidelines are all strengthened in the new rules. [We previously reported on this plan, together with the full draft rules here>>]
Today, the Minister of Government and Consumer Services, Tracy MacCharles, announced the new protections for condo communities will take effect this fall.
“Addressing the growing needs of condo communities across the province and supporting long-term sustainability of condo living is key to our government’s mandate,” announced Tracy MacCharles, Minister of Government and Consumer Services. “Creating new consumer protections will help to build more sustainable condo communities so residents moving into condos today and in the future will be able to look forward to healthy condo communities and peace of mind in the place they call home.”
Changes will include:
- Regular mandatory updates about the condo corporation to help improve communication between boards and owners
- Improving condo corporation governance and addressing conflicts of interest by introducing new disclosure requirements for directors, including whether they are not owners or occupiers of units in the condo or if they have interests in contracts involving the corporation
- Mandatory training for condo directors to improve how condos are managed and operated
- Clearer rules to make it easier for condo owners to access records of their condo corporation
- New notices, quorum and voting rules to make it easier for owners to participate in owners’ meetings
- Mandatory education requirements for condo managers applying for a general licence.
The government will also designate two new administrative authorities:
- The Condominium Authority of Ontario (CAO), when designated on September 1, 2017 will provide education and promote awareness of condo owner rights and responsibilities, as well as provide important information for condo corporations. On November 1, 2017 it will also be responsible for managing the Condominium Authority Tribunal which will resolve disputes about access to condo records. Going forward, Ontario will consult with the public to identify other disputes the Tribunal could resolve.
- The Condominium Management Regulatory Authority of Ontario (CMRAO), when designated on November 1, 2017 will regulate and license condo managers and providers.
Protecting condo residents in Ontario is part of our plan to create jobs, grow our economy and help people in their everyday lives.
- There are currently 1.6 million people living in condos in Ontario and more than 50 per cent of new homes being built in the province are condominiums.
- There are more than 750,000 condo units in Ontario, up from 270,000 units in 2001.
- The CAO and CMRAO were created as part of the implementation of the Protecting Condominium Owners Act that was passed in 2015
- The government received about 200 recommendations for condominium law reforms through its public consultation process.