COA Endorses these changes
- Home Warranty Act needs a complete revision.
- Provincial Government consider a Condo Reserve Fund Bond to pay 1 to 1 ¼ % higher than Ontario Savings bond
- Reserve fund studies need to conform to proper financial numbers. Interest rates and inflation rates must be set by the Government.
- Improved Reserve funds interest rates with new Reserve Fund Bond
- MPAC should consider deficiencies in the Reserve Fund
- MPAC should consider different guidelines for property tax
- Arrange restrictions for Smoking Cigarettes and Marijuana in condo buildings
- Status Certificate - 10 banking days is too long of a period and jeopardizes sale
- Meetings with extensive costs considered should be part of status certificate
Did you know these condo facts?
- Over 1.6 Million Condo Owners in Ontario
- Over 580,000 Condo Units
- Over 6,750 Condo Corporations
- 1,000's Commercial Condos
Do you realize the importance of changing the following?
- Electronic Proxy system is required. Presently proxies are being forged to control votes
- Condo Lawyers should be appointed by Corporation, not hired by the Board
- By Laws should not allow customization Director qualifications or disqualifications
- By-Laws should not be allowed if the change is in contravention to the Condo Act
- All Boards and Condo Owner should be aware of the AODA
- Board Members should not manipulate the Condo Act forms for personal intentions