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01 September 2013
- Condominium Manager Magazine, September 2013 (condolifemag.com)
I've mentioned in this space a few times before that the rules are changing for condominiums in Ontario and that the 15-year-old Condominium Act will be revised to offer even greater protection to the one-million-plus condo dwellers in the province.
Well, the wheels are in motion. The first of several recommendations from the Ontario government came in late July, when it declared that it would like to institute mandatory qualifications for condo managers.
"There is an overwhelming consensus that condominium managers be qualified and licensed to carry out their significant responsibilities," Consumer Services Minister Tracy MacCharles was quoted as saying. "One in 10 people in Ontario live in a condominium and their quality of life depends to a great degree on qualified, well-trained condominium managers.”
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01 June 2010
First-time purchasers of condominium units are often shocked after a year of living in their unit to get a notice of a suhstantial condominium fee increase for the next year. Why does this happen? The increase for the second fiscal year of their new condominium corporation can be attrihuted primarily to two budget items: utilities and the reserve fund contribution.