What are the key things the Condominium Act, 1998 does for Ontario condo owners?

Ontario's Condominium Act, 1998 is the provincial statute that governs the creation, governance, and management of condominiums. It establishes several important protections and obligations for owners.

Among its key provisions: it requires corporations to maintain adequate insurance and a reserve fund; it gives owners access rights to corporation records; it sets out the required contents of status certificates and gives buyers a 10-day review period; it establishes the rights and duties of the board of directors; it requires reserve fund studies at regular intervals; it defines what the corporation and owners are each responsible for maintaining; it sets limits on how corporations can restrict owners' use of their units; and it created the Condominium Authority of Ontario and, through regulation, the Condominium Authority Tribunal.

The Act has been significantly amended since its enactment. Understanding how the Act applies to your specific situation — particularly in a dispute with the corporation or a neighbour — often requires legal advice, because the Act interacts with the corporation's own governing documents and regulations in complex ways.