A condo, abbreviated condominium, is a unit of ownership among other similar entities that share the rights to the common parts of the property. Most of the skyscrapers you see in cities are condos. Each owner inside the condominium pays an „association tax“ used for the maintenance of the property and the salaries of the people employed by the association (bouncers, cleaning agents, etc.). Legal advice With the new binding form of residential tenancy agreement, the government`s goal is to standardize an area that has been marked by litigation in the past. While the form, with its plain language, is undoubtedly focused on tenant protection, landlords (who can count both condominium owners and condominiums) would be advised to consider additional safeguards. If necessary, seek legal advice. In addition, section 83 of the Housing Ownership Act provides that landlords are required to provide their tenants with a copy of the company`s declaration, articles of association and rules within 10 days of entering into the lease or renewing it. With the new standard rental agreement form, there is a section describing the rental unit. This section contains a question about whether or not the rental unit is a condominium and states that „if so, the tenant agrees to abide by the condominium declaration, articles and rules as provided by the lessor.“ While the Condominium Act of 1998 requires landlords to provide this information to tenants, too often landlords would not do so, either because they were unaware of the obligation or because they could not be harassed. With this requirement, clearly set out in the standard rental form, landlords are aware of this obligation and tenants will be aware of the obligation to respect.
I hope this will result in far fewer litigation and enforcement issues between condominium corporations, landlords and tenants. Why not relieve yourself of stress and hand over the management of your condo to a rental property administration? A professional condominium rental management company such as Del Condominium Rentals can assist you on your behalf in the event of a dispute between the lessor and the tenant, day-to-day unit management, tenant communication, repairs and maintenance. Whether a standard lease was terminated because the standard lease contained terms that the tenant does not agree with, the effective date of termination (as is the case under the RTA) must be the last day of a rental period (for example. B at the end of the month). While the form detects some condo-specific scenarios, it is lacking in many ways. To complete the form, below are some useful additional words specific to condo that can be attached to the form….