Condominiums and the law. You may be wondering how significant this topic may be to you. Well, let me start by saying that if you live in a condominium or plan to purchase a condominium you must abide by the Condominium Act, the condominium declaration, condominium by-laws and the condominium rules. Sounds like a lot? Well it is. The four documents that I mentioned above tell you what are your rights and responsibilities under condo laws.
It comes as no surprise that Mississauga, particularly the Square One area, is home to a plethora of condominium’s. I myself reside in a condo here in the square one area. I have lived in several other condominium’s in my lifetime and let me tell you, they all operate differently.
1. Condominium Act
This act was established in 1998 and it basically tells you what you rights and responsibilities are as owner, corporation or even a developer. It is this piece of law that says a condominium can operate as a corporation.
In general terms, the declaration will describe all of the units in the condominium and its common areas. It will also indicate what each unit owner will pay with regards to condo fees. In addition, if you wanted to find out what repairs the condominium covers you would find it in the declaration. The declaration can be found in the status certificate that is given to you when you purchase a resale condominium.
The by-laws tell us how the condominium corporation will operate. It outlines the duties, powers and responsibilities of the Board of Directors, the frequency of Board meetings and issues pertaining to common element fee’s. Existing by-laws can be amended, or new by-laws can be added by a majority vote of the owners
The Board of Directors sets out rules that you have to follow on a daily basis. Examples of this would be rules on pets, or even rules on booking elevators for moving purposes. The Board of Directors in the corporation can make these rules without a vote provided they give resident’s 30 days before they enact the rule. So what if the owner’s don’t like the new rule? You, the owner, can request an owner’s meeting, with 15% of the owners signatures on paper and vote against the rule.
So there you have it folks. All of these documents that I spoke about provide the laws and rules that govern how we live in a condominium.