In condominium high-rises and town-home complexes across Ontario, there is an increasing number of short term rentals that are popping up at alarming rates. You would be surprised about the implications your condominium may be exposed to and the potential costs associated with allowing AirBnB's to exist in your community.
Whether you are new to condominium living, or have been a long term resident in a townhouse or high rise, you will have likely heard these four dreaded words from your condominium property manager: “Sorry, that’s not allowed.” There are benefits to be had, but there are also compromises to be made with living in a condominium.
If Bill 106 is adopted as drafted, Corporations would be required to undertake specific, time sensitive milestones, and can rely on changes to help complete their AGMs, a task that has been difficult for some Corporations in meeting quorum.
Can I withhold my condo fees until urgent repairs are carried out in my unit? What should I do if my condo doesn’t respond to a repairs work order? Can a condo property manager enter my unit without notice? Can condo corporations hand out fines?