January 2017
Condominiums can be misunderstood by prospective buyers.
A condominium is a building or complex of buildings that contain individually owned units.
The individually owned units require shared common areas that may include walls, hallways, elevators and amenities. There are laws, rules and regulations deemed necessary to institute some semblance of order in the use of these common areas.
In Ontario we have the Condo Act, condo declaration, condo by-laws and condo rules. These are the documents that instill order in a condo building. This is the general framework around which a condo corporation can implement measures considered suitable for operation of the property.
Problems that arise in a condo building are often based on a failure to read or understand the documents that are provided to each homeowner. Each owner purchases, in addition to their suite, an undividable interest in the common areas. With this purchase comes a responsibility to understand limitations with regard to common areas. Difficulty arises when some fail to recognize the line between their individual suite, common area and control over each.
