New rules regarding Alberta condominiums have been released by the Alberta Government.
Last year, the Provincial Government established rules to protect condo buyers, and these new rules focus on condo governance.
A few of these new rules include requiring a fairer process when condo corporations issue bylaw fines, establishing more protections for condo owners' investments, and providing easier access to condo documents.
The Provincial Government released the following statement from Service Alberta Minister Brian Malkinson:
"About one out of every five Albertans lives in a condo and our government has their back. Last year, we unveiled stronger protections for condo buyers and now we're introducing new rules to improve condo living. These new regulations will make life better for everyone in the industry, including condo owners, condo managers and condo boards."
Most of these new regulations will come into effect in July of 2019, with the remainder coming into effect January 1, 2020.
This is the second stage of the Condominium Property Amendment Act, which was passed in December of 2014.
Send us your news tips, story ideas and comments at [email protected]