By Aaron Mahoney (@Mahones93 on Twitter)

Provincial government trying to make condos a better place to live

Dec 17, 2018 | 5:00 AM

CALGARY – The provincial government has introduced new rules designed to increase transparency and improve condominium governance in Alberta.

Industry experts were on hand on Friday, Dec. 14, as Service Alberta Minister Brian Malkinson announced new governance regulations for condominiums.

The new regulations cover day-to-day condo living and follow extensive consultations including five open houses held across the province in Calgary, Edmonton, Lethbridge, Red Deer, and Fort McMurray with thousands of Albertans in 2017 and 2018, including industry groups and condo owners.

Malkinson says about one out of every five Albertans lives in a condo and his government has their back.

“Last year, we unveiled stronger protections for condo buyers and now we’re introducing new rules to improve condo living. These new regulations will make life better for everyone in the industry, including condo owners, condo managers and condo boards.”

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The new governance regulations were approved by cabinet earlier this month, and they will:

– Improve rules around meetings, such as requiring more notice to attend general meetings and get topics on the agenda.

– Revamp voting rules so owners can participate more effectively in meetings.

– Provide easier access to condo documents by clarifying which documents must be provided to owners, when they need to be provided and what needs to be included in them.

– Require a fairer process when condo corporations issue bylaw fines.

– Establish more protections for condo owners’ investments.- Strengthen how reserve funds are managed.

– Establish new requirements for insurance and rental deposits.

The bulk of the new regulations will come into effect on July 1, 2019, with the remainder taking effect on Jan. 1, 2020 to give condominium corporations time to update their insurance coverage.

Condominium Owners Forum Society of Alberta President Terry Gibson remarked that historically, many Alberta condo owners have felt isolated and alone.

“We’ve had difficulty finding information or programs about management of our condos. These new regulations will lead to improved management of Alberta condos, with improved requirements for transparency and governance. These changes will significantly enhance condo life in Alberta,” Gibson said.

The Condominium Property Amendment Act was passed in December 2014, and the next step was to create more than 50 supporting regulations, which are being developed and rolled out in stages.

The first stage, which came into effect earlier this year, focused on protecting condo buyers and ensuring their investments are properly looked after.

The second stage announced on Dec. 14 and coming into effect in 2019 and 2020, focuses on condominium governance.