July 2019
Condo living is about opportunity.
Those that desire the benefits and lifestyle of condo living can choose it. The fact that a majority of Torontonians now reside in condo buildings attests to the popularity of this form of housing.
Perhaps you desire a large space for a family or a smaller space more suitable for a single person. Want a swimming pool? Maybe a party room, balcony, or rooftop lounge. For some the list may include a putting green, bowling alley or organized social activities. Families may desire a children’s play area, or a WiFi enabled space where teens can socialize or do homework. Pet owners can choose a pet friendly community. Some communities allow smoking.
Condo communities are constantly evolving social organisms. The system of condo living was designed to accommodate these varied interests by giving condo directors, and the owners that elect them to govern, the ability to customize their communities as they choose.
Condo communities are judged by the quality of their communities. This includes physical infrastructure, amenities and rules affecting behaviour. High condo fees tend not to be a factor. Those paying higher fees do so with the realization that higher quality, better amenities and a desirable lifestyle are paid for through these fees.
Condo living is based on its community living under an accepted set of standards or rules. Those dissatisfied with a particular condo community can move. If fees or rent is too high the solution is to move. If you now have a pet and reside in a community where pets are not allowed, the solution is to move. Those communities with a more desirable combination of infrastructure, amenities and rules are more popular and command a higher purchase price.
The Condo Act sets out a standard of governance that allows each community to develop and evolve as they desire without interference. It is this flexibility that has made condo living the lifestyle of choice for Torontonians and will ensure its continued growth.
