This marks another excerpt from the Ontario Governments web-site publications on this new act and what it means, dealing with new condo purchases and ONHWPA
The Residential and Tenancies Act, 2006 (RTA) is the governing legislation that applies to landlords and tenants in the province of Ontario. It provides that “[a] provision in a tenancy agreement prohibiting the presence of animals in or about the residential complex is void.”, while at the same time, a landlord cannot prevent a tenant from having a pet. Condominium Boards that find a tenant’s pet to be a nuisance can have that pet evicted.
Understanding how condominium insurance coverage is set-up, and how owners and boards can reduce risk, is the best protection in order to keep the corporation’s insurance record healthier. Condominium corporations can also protect themselves by adopting a standard unit by-law and/or an insurance deductible by-law.
Pesky, frustrating and not the kind of thing anyone wants to wake up to, bathroom mould is one of the most common problems condo and homeowners face.
The good news is, assuming it hasn’t gotten out of control, the mould is relatively easy to get rid of, and even easier to prevent – if you know what you’re doing.
Upgraded bathrooms tend to hold their value especially well. Condo buyers are searching for that new and durable appeal within their property’s bathroom space and sellers can help maximize their returns with quality renovation work. However, renovating your condo can be more involved than you may think.
Before you choose on renting the unit out yourself, or hiring a professional, such as a real estate agent, ensure the condominium’s rules and regulations will allow for a rental by speaking with the condominium property manager, as some condo’s may restrict the quantity of rentals allowed in a building.
For those not new to condo living, you inevitably have come across a time when the smells and odours from your neighbours have without warning, entered your unit, much to your shock and chagrin.
Whether you are planning to move in to a new condo or looking to invest more in your existing home, you may want to consider which upgrades will translate into more net value, whether you are staying or selling.
These days, the word “downsizing” brings to mind tough economic times and layoffs.
But when it comes to your life, downsizing can actually make you happy! By making the move to a condo property, typically there is a sizable reduction in your livable space.
It’s that time of year, when the snow starts to fall, you can see your breath in the cold winter air, and Christmas carols fill the radio stations and malls. Before you start to decorate your balcony with a string of your favourite sparkling lights, or cut down a tree, best to check your condominium bylaws, declarations and rules, and consult with your condominium property management company.
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The importance of rules, especially in shared living environments such as condominium properties, is paramount to having all owners and residents residing in harmony. Or at the very least, ensuring that there is a minimum standard of responsibility and expectation for all to abide by.
So you have made the decision to purchase a condo, and beyond the traditional excitement and anxiety that comes with any major life change, there are some fundamental aspects that you must understand before signing on the bottom line, specifically the financial condition of the condo corporation, with regard to the reserve fund.