Condo owners are being encouraged to take part in an online survey to improve condo living.
New draft regulations have been proposed to improve transparency and condo governance.
Proposed regulations for condo living include:
- Improvements to voting rules such as proxy votes, so more owners can participate in board meetings.
- Notice and ways to attend general meetings.
- Easier access to condo documents.
- Stronger financial accountability of condo corporations.
- More protections for condo owners’ investments.
- Strengthening how reserve funds are managed.
- Insurance requirements and rental deposits.
According to Brian Malkinson, minister of Service Alberta, nearly one quarter of Albertans live in condos.
“A home is one of the largest investments that we make and Albertans deserve to feel confident in their investment.”
At the time of the 2015 municipal census, 15.6 per cent of our population lived in apartments and condos.
The draft rules, which are based on feedback during consultations in 2017 and 2018, support the Condominium Property Amendment Act.
The survey is available until July 31 and will be used to make adjustments to the draft regulations.
