The public accounts committee of the Ontario Legislature issued a harsh report urging for improved consumer safeguards for Ontario’s 1.3 million condo dwellers.
The committee’s official answer to the auditor general’s scathing study into the condo industry in 2020 is this joint report authored by Conservative, NDP, and Liberal MPPs.
The auditor general stated that the condo business in Ontario is inadequately regulated, with little control and monitoring of developers, condo property managers, and condo boards. It discovered that condo members have little options if they have concerns with their unit.
Poor building construction, delays in repairs, unlawful short-term rentals, sudden spikes in condo fees, poorly performing property managers, and condo boards that do not conduct regular public meetings or hold free and fair elections are the most typical issues that condo tenants encounter.
Condos are becoming increasingly popular among Ontario, and the trend towards more dense urban living is expected to continue. Some of these structures are the size of whole cities and may house up to 2,000 people.