Condo Owners Association COA

Newsroom

Building a Better Condominium Act

Archived News Release

McGuinty Government to Launch Condo Review Consultation

Ministry of Consumer Services

 

  • Ontario is taking steps to modernize the Condominium Act, 1998, so it reflects the current and
  • future needs of owners, residents and other stakeholders in the condominium community.
  • In an effort to respond to a booming and evolving industry, Ontario will launch a public
  • consultation to identify a comprehensive set of issues, and long-term solutions relating
  • to matters such as:
  • consumer protection for buyers
  • condominium finances and reserve fund management
  • condominium board governance
  • expertise/accreditation of condominium managers
  • dispute resolution, for instance between condo boards and owners
  •  
  • The review will directly engage the entire condominium community, including owners, residents,
  • developers and property managers.  Members of the condominium community will have the
  • opportunity to speak about their issues, hear the concerns of others and work together to
  • develop solutions.  Details of the public engagement process and information about how to
  • participate will be announced this summer.  Strengthening the Condominium Act is part of
  • the McGuinty government's plan to ensure a fair marketplace for Ontario families.

 

Quick Facts

  • Over one million people live in condominiums in Ontario.
  • There are about 525,000 condominium units in Ontario.
  • Toronto had the fastest growing high-rise condo market in North America in 2011.
  • About 50% of new home sales in Ontario are condominiums; 60% of homes sold in the GTA.

 

Quotes

“This promising and thorough engagement process will be a first for the North

American condo market.  It will ensure the diverse range of stakeholders, including

over one million condo dwellers in Ontario,  are involved in both identifying

the issues and defining solutions that meet our needs today and in the future.”

Margarett Best

Minister of Consumer Services

“As the association representing professionalism in this rapidly growing

industry, ACMO is excited to be a part of a new consultative process

for the review of the Condominium Act that includes all stakeholders.

We look forward to working with the Government on changes that will provide

consumers with important protections and ensure that Ontario remains

the leader in the condominium industry in North America.”

Dean McCabe

President, Association of Condominium Managers of Ontario (ACMO)

“The Canadian Condominium Institute - Toronto and Area Chapter

is pleased that the Ontario government has officially announced

the opening of the Condominium Act, 1998 for a complete review. We

congratulate the government for approaching it in a new and innovative

way which will allow those who are most affected by the legislation

to help decide its future, and look

forward to continuing to work with the government so the best 

legislation possible is created.”

Bill Thompson

President, Canadian Condominium Institute (Toronto and Area Chapter)

“The Condo Owners Association is thrilled that the McGuinty Government

is launching a review of the Condominium Act. We are looking forward

to participating in the review to help build a viable and sustainable

future for condominiums in Ontario that protects the rights of

owners, ensures best practices for condo corporations, and preserves the value

of the investment people have made in their homes.”

Linda Pinizzotto

President and Founder, Condo Owners Association Ontario (COA)

 

Media Contacts

  • Bryan Leblanc  Minister's Office  This email address is being protected from spambots. You need JavaScript enabled to view it.

    416-326-1939

  • Sandra Bento  Media Relations  This email address is being protected from spambots. You need JavaScript enabled to view it.

    416-327-9708

 This document was published on June 08, 2012 and is provided for archival and research purposes.

Read 5092 times