Thinking of moving into a condo? Here is an overview of the rules and regulations of condominium living.
Important concepts that condominium owners should know are:
The declaration and description are the legal documents that create a condominium corporation. The declarant (developer or builder) prepares these documents and files them in the land registry office. This process is referred to as registering the condominium.
The declaration includes information, such as:
The description provides:
The declaration and description can only be changed if over 80% of the owners agrees to this change. For example, if there are 100 units in the condominium, over 80 owners, depending on what the amendment deals with, would need to agree to a change.
By-laws describe how the condominium corporation is to govern itself. By-laws can deal with a wide range of matters, such as:
By-laws must be reasonable and consistent with the Act and declaration. The condominium board of directors can make, amend, or repeal by-laws, and owners can provide input. By-laws do not come into force until they are:
Rules promote everyone's safety, security, and welfare. They help ensure all owners can enjoy living in their condominium and protects your property and the condominium's assets.
For example, rules can:
The condominium board of directors can make, amend or repeal a rule. Rules must be consistent with the Act and declaration.
When changing rules, the board must:
Owners who do not like the rule can act to change it or stop it from becoming effective. For instance, an owner can request an owners' meeting.