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Difference between revisions of "Owning a Condominium"
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A strata corporation may also have '''rules'''. Rules apply only to the use and enjoyment of common property and common assets. For example, a rule may limit the size of vehicles that may park in a common-property parkade, or restrict the hours when residents can use a common-property fitness centre. | A strata corporation may also have '''rules'''. Rules apply only to the use and enjoyment of common property and common assets. For example, a rule may limit the size of vehicles that may park in a common-property parkade, or restrict the hours when residents can use a common-property fitness centre. | ||
A strata corporation may change its bylaws by a 75% vote of the owners at a general meeting When a bylaw is made, amended or repealed, the corporation must register a copy of the bylaw, amendment or repeal together with a certificate in the Land Title Office (check script 407, called “Buying a Condominium”). Until the copy and certificate are registered, the bylaw is ineffective. A strata council may pass rules at any time, but any new rules must be ratified by a majority of the owners before or at the next AGM, otherwise they cease to be effective. | A strata corporation may change its bylaws by a 75% vote of the owners at a general meeting. When a bylaw is made, amended or repealed, the corporation must register a copy of the bylaw, amendment or repeal together with a certificate in the Land Title Office (check script 407, called “Buying a Condominium”). Until the copy and certificate are registered, the bylaw is ineffective. A strata council may pass rules at any time, but any new rules must be ratified by a majority of the owners before or at the next AGM, otherwise they cease to be effective. | ||
==Renting out a condominium== | ==Renting out a condominium== | ||
