Condo Owners Association COA

More Changes Needed

 COA Endorses these changes  

  • Home Warranty Act needs a complete revision. 
  • Provincial Government consider a Condo Reserve Fund Bond to pay 1 to 1 ¼ % higher than Ontario Savings bond
  • Reserve fund studies need to conform to proper financial numbers.  Interest rates and inflation rates must be set by the Government. 
  • Improved Reserve funds interest rates with new Reserve Fund Bond
  • MPAC should consider deficiencies in the Reserve Fund
  • MPAC should consider different guidelines for property tax
  • Arrange restrictions for Smoking Cigarettes and Marijuana in condo buildings
  • Status Certificate - 10 banking days is too long of a period and jeopardizes sale
  • Meetings with extensive costs considered should be part of status certificate 

  

Did you know these condo facts?

  • Over 1.6 Million Condo Owners in Ontario
  • Over 580,000 Condo Units
  • Over 6,750 Condo Corporations
  • 1,000's Commercial Condos

  

Do you realize the importance of changing the following?  

  • Electronic Proxy system is required.  Presently proxies are being forged to control votes
  • Condo Lawyers should be appointed by Corporation, not hired by the Board
  • By Laws should not allow customization Director qualifications or disqualifications
  • By-Laws should not be allowed if the change is in contravention to the Condo Act
  • All Boards and Condo Owner should be aware of the AODA
  • Board Members should not manipulate the Condo Act forms for personal intentions

 

Let's work together for important changes to Condo Act

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