It’s a big topic, there’s a lot to digest, it’s somewhat hazy and a lot has happened. Like a big puzzle of 100,000 pieces, it’s hard to put the pieces together. Here’s a quick recap to help you stay updated on what has happened over the past year.
Ontario’s updated condominium ownership legislation (otherwise known as Bill 106) was passed in December 2015. One year later the bill’s provisions have yet to be enacted—but condo directors and managers in Ontario should prepare for changes coming in the summer of 2017.
If you haven’t been following the news, here are our past articles that can get you up to speed with the new act:
- Introduction to the 2015 Condominium Act (Ontario) Reform: Major Changes Coming
- 10 Ways to Prepare for the Ontario Condominium Act
- Five ways Bill 106 will facilitate e-governance – REMI Network
Till our next update on the new condo act, here are some table talk points that may come in handy during discussions:
Which “letters of the law” are changing
The Protecting Condominium Owners Act will reform (not replace) the existing Condominium Act. It will also introduce the Condominium Management Services Act and establish two administrative authorities—the Condominium Authority of Ontario (CAO) and the Condominium Management Regulatory Authority of Ontario (CMRAO). Read this Condo Business news article for more details about the condo law reforms.
The purpose of the new legislation
The new law will help ensure the sustainability of healthy condo communities. The act’s core commitments include better protection from unexpected costs for buyers of new condos; establishing a Condominium Authority to resolve disputes more quickly at less cost; improving condo governance with training for directors; strengthening rules to prevent financial mismanagement; and introducing mandatory licensing and education requirements for condo managers.
There’s a transition plan
The thing about legislation is that it takes time to draft up new rules and regulations. Fortunately the new law’s regulations will have provisions to smooth compliance during the transition period. Premier Kathleen Wynne has set a Fall 2017 deadline for implementing “key elements” of the Protecting Condominium Owners Act. And while the government finishes writing up the legal details and works to establish the new bureaucratic framework, Ontario’s existing Condominium Act remains in force.
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