Category Archives: Uncategorised

Shared Facilities Agreement

This can have a significant cost impact on the corporation when the building has mixed use facilities.  Where developers do not install separate metering for things like water, electricity, and gas there is no way to accurately separate commercial costs from residential costs. Since commercial facilities use more utilities, the condo corporation ends up subsidizing […]

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Sales or Leaseback of Units and Common Elements

In some cases, developers have been treating what was thought to be common building elements (e.g., party rooms and gyms) as separate from the building.  After the expense of purchasing a unit, owners would be met with the unpleasant surprize of needing to spend more money to buy or lease these common elements in order […]

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Material Changes

Existing consumer protection rules allow condo buyers an absolute right to change their mind about the purchase without penalty during a 10-day cooling off period.  Specific to a condo purchase, buyers will have the right to cancel the purchase if there is a “material change” to the information provided and/or should have been included in […]

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Disclosure Statements and Declarations

These documents are important to the new condo buyers as they set out key mandatory conditions for owning a condo unit.  They are put together by the developer and will include things like a first budget, by-laws, and rules.  While you might expect that there is a lot of standard clauses, these documents can vary […]

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Disclosure of Known Costs

Everyone knows that low maintenance fees are an attractive decision driver to condo purchases. It is also well known that developers make that first-year’s operating budget as attractive as possible. The problem is some developers exclude things from that budget that make maintenance fees artificially low. New rules will require developers to disclose circumstances that […]

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