New Condo Property Regulations Take Effect July 1, 2019

Source: https://albertare.configio.com/post/new-condo-regs-july-1-2019

Service Alberta has announced new condominium property regulations taking effect July 1, 2019. Here are the highlights:

Fee caps on the prices condo corporations can charge owners, buyers, and mortgage companies for obtaining the condo documents needed to complete a purchase or sale.

– $100 max. for an estoppel certificate.
– $10 max. for each document in section 20.57(1) of the Regulations – which includes the documents needed in AREA’s condo listing and purchase contracts.
– If a document is attached to or forms part of another document, a fee can only be charged for 1 document.
– If a 3-day (rush order) is requested, the corporation may charge up to $30 per document, provided that the document is provided within 3 days (excluding holidays).
– Owners may make copies of their documents and provide copies to others.

Clarifying what documents must be provided to owners, and when, for free.

– The minutes from all board meetings held since the last AGM (before or when the AGM notice is sent).
– The approved minutes, or draft minutes, of the AGM (within 30 days of AGM).
– A copy of the notice filed at land titles reflecting the current composition of the board (within 30 days of AGM).
– The results of a vote (within 30 days after the date on which votes must be received).
– A copy of the annual budget (at least 30 days before the start of the fiscal year).
– If revisions are made, a copy of the revised budget (as soon as possible).

Additional changes – most taking effect July 1, 2019 and the remainder on January 1, 2020:

– New rules around meetings, such as requiring more notice to attend general meetings and getting topics on the agenda.
– Better voting rules so owners can participate more effectively in meetings.
– Fairer processes for issuing bylaw fines.
– Increased protections for condo owners’ investments.
– Strengthening how reserve funds are managed (July 1, 2019/January 1, 2020).
– New requirements for insurance and rental deposits (January 1, 2010).