NEW Condominium Property Regulations

Service Alberta has announced new condominium property regulations taking effect July 1, 2019.

Below 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 Annual General Meeting (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 the votes must be received).
• If revisions are made, a copy of the revised budget (as soon as possible).

Additional Changes – taking effect on January 1, 2020:

• New rules around meetings, such as requiring more notice to attend general meetings and getting topics to 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.
• New requirements for insurance and rental deposits.

click HERE for the Government’s announcement, or HERE for the official regulation changes document.