Earlier this year the Government of Alberta opened up the Condominium Property Act for legislative review. In February, Service Alberta began public and stakeholder consultation to gain feedback on proposed changes. In conjunction with the consultation, Service Alberta released the Condo Consultation Paper which covered a range of issues including:
• Consumer protection for new buyers
• Starting and maintaining condominium corporations
• Governance practices for condominium boards
• Maintenance for bareland condominiums
• Insurance coverage and responsibility for repairs
• Management of condominiums and standards of management practice
• Dispute resolution
The public questionnaire on this issue ran from February to May and garnered over 4,600 responses.
In March, CREB®’s Political Action Committee (PAC) hosted Service Alberta Minister Manmeet Bhullar for a round-table on the Act and specific issues facing REALTORS® and their clients. One of the key noted areas for concern was special assessments and the associated costs for condominium owners, as well as the accountabilities and responsibilities of condo boards when dealing with the issue. PAC Members also raised questions regarding the regulation and licensing of condo managers and management companies, to ensure consumers were protected in the case of any issues. Similarly there was a discussion around the accountability of condo boards and transparency of the information provided to new purchasers.
PAC Members have focused on raising and resolving the everyday issues both REALTORS® and consumers face during this consultation process and ensuring stronger legislation for homeowners. For homeowners, this means pushing for fair dispute resolution and stronger accountability of condo stakeholders and for REALTORS® means pushing for better access to condominium documents during the purchasing process and ensuring hassle free purchase processes for their clients.
To learn more about CREB® PAC, the Condominium Property Act consultation, and other local and provincial issues facing REALTORS® today, join PAC and speakers from the Government of Alberta, CREA and AREA on June 20, 2013 for PAC Day. Register here.