The province announced 50 changes to its condo legislation today. (CBC)
The Alberta government has released its new condo bill designed to fix the province’s leaky condominium legislation.
Bill 9, The Condominium Property Amendment Act, upgrades and modernizes the current legislation with more than 50 changes, said Service Minister Stephen Khan in a news release Tuesday morning.
The amendments follow consultations with condo owners, builders and boards lasting more than a year, he said.
Khan said some of the changes include:
- Creating a framework for a new condominium dispute tribunal;
- Improving disclosure of financial and other necessary information to buyers of new and converted condominiums;
- Developing a framework for qualifications and standards of practice for condominium managers; and,
- Improving governance of condominium corporations.
More than 8,000 condominium corporations operate in the province while condominiums account for about 20 per cent of homes sold annually, the government said.
