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Michael Poon Durham Region - Atlantic (HS) Financial Corp #10422
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Email mpoon@mortgagesmadeeasy.biz

Ontario government to introduce legislation to make it easier and less expensive to resolve disputes between individual condo owners and the condo board. A new board called the Condominium Authority similar to a Rental Tribunal to mediate and handle disputes .  This  board will be funded by condo developers plus a $1 per month added cost for each individual condo owner per month. This legislation shall also include new rules restricting developers to pass "surprise" increases to condo fees in the second year such as mortgage costs to carry guest suites, etc. Also increased educational requirement for board directors and property managers

Read more here:

http://www.cp24.com/news/ontario-to-create-condo-authority-to-help-resolve-disputes-1.2392900
 

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