Condo Basics

Protecting Condominium Owners Act – Reserve Funds

This marks another excerpt from the Ontario Governments web-site publications on this new act and what it means. This segment deals with Reserve Funds. To read the entire article, please click on the link at the bottom of this article.

CMHC — Condominium Basics

Condominium living can be an appealing housing option. It’s often affordable and someone else handles much of the maintenance and repairs, such as shovelling snow and replacing the roof. Many condominiums have enhanced security features over those found in single-family houses and offer a wide range of social, entertainment and recreational activities.

However, purchasers should be aware — before they buy — of the many issues and considerations surrounding the purchase of, and the lifestyle in, a condominium. Condominium ownership is very different from owning a home under traditional fee simple tenure. This section of the Guide will help you better understand this unique form of ownership and prepare you for successful condominium living.