The Etobicoke Condo Market has exploded with seemingly a crane on each major intersection. Buyers purchase, Banks Finance and people carry on with their lives. Once you buy into the condo, you park your car, use the gym and pool, cross the hallway and lock the door. You are part owner in an often multi million dollar building and need to understand whats happening to the repair maintenance and upkeep of your home.
The Condominium Act does need to be standardized, each building has different Declarations, Rules and Regulations. Condo Boards acting in good faith enforce the Rules they have been handed only to be struck down in Superior Court because of legalese or crafty wording.
Condo Boards need to be responsible for their decisions and obedient to the LAW. This is especially painful when Boards waiver to "SAVE" and not start the path of 20% contribution to their Reserve Fund and find themselves short of money in year 8 or 10 for a major repair by permitting lower maintenance fees.