Unless you’ve been living under a rock, you’ve heard that the government has created significant changes to the condominium landscape in Ontario. One of the biggest changes is that property managers will require licences to provide condominium management services in Ontario. The regulation of property managers is designed to weed out the bad apples, which have received most of the publicity in recent years. It is rare for an article to be published that praises the hard work and dedication most managers show to their clients.
Today’s post will provide an introduction to the key changes to the condominium management industry in Ontario.
Unless you’ve been on vacation for the past week or so, you probably know that the Ontario government released the first draft regulation made under the Condominium Management Services Act (CMSA). The draft regulation focuses on the licensing of managers, which the Ontario government has suggested is one of its top priorities. The Act and regulations are not yet in force, but those in the know indicate that they will be phased in over the next few years.
The Ontario government released the regulations in draft format to give stakeholders an opportunity for input before the regulations are finalized. The goal is to have the final version in force on July 1, 2017. In addition, other regulations are expected to be released early this year. To review the regulations and provide feedback visit the Ontario government website: http://www.ontariocanada.com/registry/view.do?postingId=23342&language=en Continue reading