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Condominium Guide|Condoinfo.ca

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Condominium Guide|Condoinfo.ca
Condominium Guide



What is a Condominium

A condominium is a style of ownership of a property and can be anyone of 5 styles.  The most common are

  • low-rise or high-rise apartment dwellings
  • stacked townhouse or regular style townhomes
  • semi-detach or detached houses and/or the combined land

A condominium creates affordability for Buyers so they will own their individual unit but share ownership and the expenses on the common areas of the complex.  The common areas are known as common elements which are the hallways, elevators, amenities, land, roadways etc.


Board of Directors - Operations of a Condominium

It is vital for condo owners to learn about condominiums before purchasing them.  The Condominium Corporation is run by the Board of Directors who are elected by the condo unit owners.  The Board of Directors contracts a Property Management company to run the daily affairs of the Corporation.   The Board of Directors has a fiduciary duty to ensure that the condominium corporation such as the condo property, financials, records of the corporation, reserve fund studies and all items and operations relating to the corporation are run properly, efficiently and honestly.  The day-to-day affairs of the Corporation such as repairs, maintenance etc. may be run by the Property Manager however the Board of Directors holds total responsibility and decision making process.


The Condominium Act 1998

Unfortunately the condominium act 198 which governs condominiums has expensive issues.  The main problem is it allows self-governance which may compromise accountability, governance and consumer protection.  As a Condo Owner, the Act, although stipulates directives for the possible protection of Condo Owners, there is no fining process or requirements for mandatory enforcement by the Board of Directors.    Every condominium has a declaration, by-laws and rules and regulation.  There are a number of important changes that need to be made to the Condominium Act to ensure better consumer protection.    Condo Owners should register with the Condo Owners Association www.COAontario.com to ensure that their Association can advocate and represent their rights to create a strong united voice and ensure consumer protective measures are made for their best interest. 


Buying a New Construction Condo


Buying a Resale Condo


Condominium Costs


Living in a Condo


Working with your Condo Board