The plan is to create a new body called the Condominium Authority, which will handle dispute resolutions between owners and neighbours or building owners without going to court.
The authority will be funded by a levy on condo developers and a monthly charge of $1 that will be paid by the province’s 1.3 million condo owners.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Saint-Charles-de-Bellechasse, Miller Lake, Lac-Etchemin, Saint-Marcellin, Gander Bay
Ontario condo owners will have a new way to resolve disputes as the province introduces new proposed legislation Wednesday.