Alberta_newcondorules

New Alberta condo rules to increase transparency

Monday, January 7, 2019

The Province of Alberta is launching new condo rules that will increase transparency and improve condominium governance in the province. The new regulations will cover day-to-day condo living and follows consultation with thousands of Albertans from July 2017 to July 2018, including industry groups and condo owners.

“About one out of every five Albertans lives in a condo and our government has their back,” said Brian Malkinson, Minister of Service Alberta, in a press release. “Last year, we unveiled stronger protections for condo buyers and now we’re introducing new rules to improve condo living. These new regulations will make life better for everyone in the industry, including condo owners, condo managers and condo boards.”

The new governance regulations were approved by cabinet in early December. They will:

  • Improve rules around meetings, including requiring more notice to attend general meetings and get topics on the agenda;
  • Revamp voting rules so owners can participate more effectively in meetings;
  • Provide easier access to condo documents by clarifying which documents must be provided to owners, when they need to be provided and what needs to be included;
  • Require a fairer process when condo corporations issue bylaw fines;
  • Establish more protections for condo owners’ investments;
  • Strengthen how reserve funds are managed; and
  • Establish new requirements for insurance and rental deposits.

Most of the new regulations will come into effect on July 1, 2019, with the remainder coming into effect on Jan. 1, 2020, to give condo corporations enough time to update their insurance coverage.

“We thank Service Alberta for the transparency in these changes and for including the voice of southern Alberta condo owners in their decisions,” said Ryan Coles, president, Canadian Condominium Institute (CCI), South Alberta Chapter. “The southern Alberta chapter of CCI supports and congratulates the government in taking these positive steps. We look forward to collaborating in the next phase of changes.”

The Condominium Property Amendment Act was passed in December 2014. The next step was to create over 50 supporting regulations, which are currently under development and being rolled out in stages. The first stage, which came into effect in 2018, focused on protecting condominium buyers and ensuring their investments are properly looked after. This second stage, which was announced on Dec. 14, focuses on condominium governance.

Photo (left to right): Ryan Coles, president, Canadian Condominium Institute (CCI), South Alberta Chapter; Brian Malkinson, Service Alberta Minister; Anand Sharma, Canadian Condominium Institute, North Alberta Chapter; Bob MacLeod, Condominium Owners Forum Society of Alberta; and Jennifer MacFarlane, on-site property manager for The Wedgewoods.

Leave a Reply

Your email address will not be published. Required fields are marked *