If you’re interested in helping raise condominium industry standards, your views are requested on legislation regarding the development, purchase and operation of condominiums in Alberta. Please complete the survey by April 2, 2013: click here to start survey
From Service Alberta’s website (media release)
The consultation paper covers a range of condominium issues and our opinions will help us measure support for the choices being considered and assist the ministry in developing recommendations for legislative changes.
The following key topics are included in the paper:
- Consumer protection for buyers;
- Insurance requirements for the corporation and unit owners;
- Repairs to unit property following damages;
- Access to corporation records;
- Dispute resolution;
- Board governance; and
- Knowledge, competencies and standards of practice for condominium managers.
Since the Act was last amended in 2000, the condominium industry has steadily grown and evolved, as more and more home-buyers choose to live and invest in condominiums. Growth in the number, variety and complexity of condominium developments, in conjunction with new industry trends and issues prompted Service Alberta to open the Condominium Property Act (the Act) and Regulation for review.
A committee of condominium owners, developers, lawyers, condominium managers, real estate representatives and other stakeholders was struck to assist the ministry with the review.
The committee concluded that the Act is generally working well; however, members identified a number of issues for examination, in addition to identifying parts of the Act that should be made clearer and easier to understand. Letters, phone calls and emails from stakeholders indicate a need to strike a better balance between the rights and responsibilities of developers, boards and unit owners and to consider new rules aimed at improving the day-to-day operation of condominium corporations.
Condominium construction and warranty
Municipal Affairs’ New HomeBuyer Protection Act increases the maximum fines for violations of the Safety Codes Act, extends the limitation period for prosecution of offences under the Act, and makes home warranties mandatory for new homes to improve construction quality and strengthen consumer protection.
- There are nearly 8,000 condominium corporations in Alberta, representing hundreds of thousands of residents.
- Nearly 20 per cent of homes sold in the province through the Multiple Listing Service (MLS) in the last year were condominiums.
- Nearly one in every three homes sold in Edmonton and Calgary through MLS in the last year were condominiums.