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Condominium Industry News
Condominium Industry News
New Condo Act: What Changes Have Been Implemented on November First 2017
What's happening in Mississauga
Read about the Condominium Law Changes, specifically the New Condominium Authority and Condominium Tribunal under Menu "Links" "An outline of the changes to Ontario condo laws."
Implementation of the New Condominium Act 2015
Implementation of the New Condominium Act 2015
On November 1, 2017 - Most Condo Act changes, including the new tribunal, and the licensing provisions of the Condominium Management Services Act (CMSA) will come into effect.There will be a new fee assessment of $1per month / $12 per year for each unit payable by your corporation. New Regulations are coming into force, and two regulatory authorities have been put into place in order to support Property Managers, Boards of Directors and Condominium Owners. They are the Condominium Management Regulatory Authority of Ontario (CMRAO) www.cmrao.ca; and the Condominium Authority of Ontario (CAO) www.condoauthorityontario.ca
The key topics covered by the First Phase include:
Information Certificates (to be issued by condominium corporations);
Notices from corporations to owners and mortgagees;
Required Disclosure by Directors and Director Candidates;
Mandatory Training for Directors;
New Procedures in relation to Meetings;
Some changes to Quorum and Voting;
Voting Requirements for By-laws;
Record-keeping and durations; and
Access to records
On February 1, 2018 – Remainder of the CMSA will come into effect.
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