Alberta is modernizing several condo regulations to remove administrative burdens on condo boards and corporations.
Adjustments set for January 1, 2020, include everything from disclosure of information to how annual general meetings are organized (Minutes can now be disclosed 60 days after AGM), sanctions, fees for documents, and broadening the list of those who can conduct reserve fund studies.
The changes clarify that owners are responsible when an occupant commits a malicious act inside their unit. Through their bylaws, owners will be able to self-determine the needs of the community and change specific default regulations. Another key change is a more clear and concise form of voting for condo owners and boards.
Deductibles will also be defined as contributions, allowing condo corporations to have more options to collect them.
“These changes will help simplify condominium governance for volunteer boards especially regarding voting procedures, conducting AGMs efficiently, and clarifying the insurance claims process,” said CCI North Alberta Chapter President, Anand Sharma. “Prior to the red tape reduction review the regulations created more financial and administrative burdens for the condominium community”.
Amendments to the Condominium Property Amendment Act were meant to come into effect in July 2019, but were put on hold in June so Service Alberta could find ways of reducing more red tape from governance.