The Government of Alberta is pausing implementation of the condominium regulations that were scheduled to come into effect July 1st, 2019. This pause has been put in place to allow time for the Government to review the regulations for excessive red tape. As a result of the postponement, condominium document fees will remain unchanged.
AREA thinks reducing condo document fees aligns with government’s goal of reducing red tape for Albertans but understands that other portions of the extensive changes would have added more red tape to condominium building, operating, buying, and selling. After further review, the Government plans to move ahead with regulations it believes will best serve Albertans.
What does this mean for REALTORS® in the condominium market? As the changes to the rules have been paused, the day-to-day practice by REALTORS® will stay the same this summer.
AREA will continue to advocate with government for changes to condo document fees to protect consumers from unfair management and condo corporation practices.
If you have any further questions, please contact email@example.com.