New rules to increase condo board transparency
Posted Dec 14, 2018 2:38 pm.
Last Updated Dec 14, 2018 8:14 pm.
This article is more than 5 years old.
CALGARY (660 NEWS) — New condo rules are being introduced by the province are expected to improve clarity for owners, managers and board members.
The new regulations are aimed at ensuring owners are given more notice to attend general meetings and get topics on the agenda, provide easier access to certain documents– free of charge– and offer electronic voting.
“There wasn’t always clarity per se in certain areas, the act would specify in the past ‘a qualified person’ be the reserve funds study provider. These regulations actually specify what that person is going to need,” said Jennifer MacFarlane, on-site property manager for The Wedgewoods.
Robert Noce, a lawyer with Miller Thompson said the changes are necessary.
“With these changes owners, tenants and boards will be able to deal with matters more efficiently and address problems quicker, because clarity is the ultimate objective of these changes. Part of the reason why people end up in courtis because the law is unclear as to who is ultimately responsible for a particular issue.”
The majority of the changes are expected to come into effect July 1, 2019, with the remainder taking effect on Jan. 1, 2020.
The Government of Alberta introduced the Condominim Property Amendment Act in Dec. 2014. The regulations are being rolled out in stages.
