June 5, 2023 - CCI-Nova Scotia Chapter News
Changes to the Condominium Act have been Proclaimed
Amendments introduced on March 25 have been proclaimed on May 23, 2023. The changes modernize the Condominium Act, improving the governance and management of condominium corporations and enhancing consumer protection.
“By making changes to the act, the rules condominium owners and corporations need to follow will be current and relevant to their day-to-day work,” said Colton LeBlanc, Minister of Service Nova Scotia and Internal Services. “They will also improve consumer protection by creating more transparency for current and prospective condo owners.”
The changes improve governance and management by ensuring a smooth transition between the developer’s board and the first board elected by the condominium corporation. They include:
- clarifying the percentage of the affirmative vote required to make decisions and set timelines for the first general meeting
- prohibiting the developer from purchasing additional units on behalf of the corporation until the first elected board is in place
- requiring more frequent reserve-fund studies to help corporations plan for future capital repairs
- allowing corporations to modernize voting methods such as accepting ballots by email.
The amendments enhance consumer protection and create transparency by requiring unit owners to disclose property rental agreements to their condo board, and that bare land condominiums be clearly advertised as condos.
Quick Facts:
- a bare land condominium is a type of condominium complex in which the owners each own their individual lot
Details of the Regulations are available here:
https://novascotia.ca/just/regulations/regs/conregs.htm