Revised Condominium Regulations Come into Force in Alberta
Today the Government of Alberta has released revised Regulations and amendments to the Alberta Condominium Property Act that will come into force January 1, 2020.
The revisions to the prior draft regulation includes adding to the list of qualified reserve fund study providers; adjusting the fee scale for the provision of documents; clarifying recoverability of an insurance deductible; simplifying the standard insurable unit description; increases to sanctions and rental deposits; reducing the administrative burden surrounding the AGM.
You can see the Province's announcement here.
These adjustments are the result of the Government's five-month review to ensure that Regulations do not cause unnecessary administrative burden or challenge for condo boards, owners and corporations.
McLeod Law's Condominium Law group have been keeping our clients and those in the industry informed of the status of the legislation. Here are some key resources that you can refer to:
McLeod Law's Condominium Law group have been drafting bylaws in accordance with the amendments that were passed and proclaimed into force July 1, 2019. The above announced changes will have little impact on the bylaws that have been drafted in accordance with the earlier proposed amendments. In short—it's business as usual with perhaps a few tweaks.
We look forward to continuing to assist you with all of your condominium needs in this ever changing industry and area of law.