Condo FAQs

A Condominium refers to a form of ownership, not a style of dwelling. Specifically, you own the space within your walls, floors, and ceiling. In addition, you hold a common ownership interest in the shared common areas.

Using appreciation as a measure, Condominiums in most Ottawa areas matched single-family homes as investments over the last five years. In fact, some experts note that Condos appreciated even more in certain local markets.

Single-family homes remain the preferred investment among home buyers. However, changing demographics make condos more popular. In particular, singles, seniors, empty nesters, and first-time buyers in the 613 area drive this trend.

In addition, the Condominium community worked hard in recent years to overcome image problems. These issues stemmed from homeowners association and developer disputes, plus frequent construction-defect litigation.

Condos never matched the very long-term appreciation of single-family homes. However, experts say Condos in the 613 real estate market ultimately retained their value. Furthermore, high prices in many Ottawa neighbourhoods and a growing number of single homebuyers keep the condo market strong.

As with any home purchase, do your homework about the neighbourhood or development before buying. For Condominiums specifically, read the past six months of homeowners association minutes. This helps you gauge the board’s effectiveness and spot potential issues, such as protracted litigation with the developer.

The 613 Condominium communities worked hard in recent years to overcome image problems from disputes and lawsuits in other real estate markets. For instance, local associations now take more sophisticated approaches to property management. As a result, they actively prevent legal problems and disputes.

First, enlist the services of a real estate agent who specializes in your preferred type of housing. An agent knows all current listings and non-public listings. In addition, they aid in the decision-making process. Most importantly, using an agent costs you nothing, since the seller pays the commission.

The ultimate buyer determines the value of a Condo or any other real estate. A seller can set any price they want. However, if nobody makes an offer, that strongly indicates the price sits too high. Listed below are factors that affect value.

Factors that affect value:

Location in the city
Location in the neighbourhood
Condo building
Location within the building
Views and closeness to top floor
Parking
Square footage
Number of bathrooms
Decorating

First, ask yourself whether you will truly feel happy there. Therefore, spend time in the building and walk around the neighbourhood. In addition, visit local businesses and hangouts. Make sure you receive Condo docs and review them carefully. Also, obtain copies of board meeting minutes to see which issues matter most. Finally, talk to residents to hear their opinions.

Developers follow different procedures, so check and confirm their specific process. Typically, you first reserve a unit with the right to cancel within a certain time frame. Therefore, sign up for notification when units become available for reservation. In addition, make sure you review the plans and specifications carefully.

An association or Condo board runs and manages the affairs of the Condo building. First, learn everything you can about the homeowners association before buying into a development governed by one. Specifically, the association’s financial, political, and legal conditions matter greatly to your investment and quality of life.

When run properly, homeowners associations maintain the common grounds and keep civility in the complex. If you follow the rules, the association should not intrude on your privacy or cost too much in dues.

However, poorly managed associations can drag down property values and make living there difficult. Therefore, start by studying the association’s covenants, codes, and restrictions, or CC&Rs. Find out if you can live by them. For example, if rules prohibit loud music after a certain hour and you play CDs late at night, this may not suit you. Don’t move in expecting to violate rules or change them later. Instead, you may face turmoil with determined neighbours who firmly control the association board.

In addition, have your attorney investigate the association’s finances. Beyond reviewing the budget, talk to the association treasurer. Ask if dues will increase and whether any special assessments are planned. Also, ask if special inspections revealed problems with roofs or plumbing that may trigger a dues hike or special assessment later. Finally, call and meet with the association president.

Condo fees are the fees you pay to live in a particular Condo building. Typically, you pay these fees monthly, and they are not negotiable. If you do not pay, the association can take legal action and enforce a lien on your unit.

Condominiums usually include more utilities in their fees and offer more shared amenities. Several factors impact the fees, including the age and condition of the buildings, the number of units sharing costs, and adequate reserve accounts for long-term maintenance. Since each association differs, here is a list of what might be included:

Garbage removal
Landscaping
Outside building maintenance
Replacement reserve accounts
Pool maintenance
Elevator service
Legal costs
Staff salaries
Caretaker’s unit Heat
Air conditioning
Building insurance
Electricity
Sewer and water
Snow removal
Lawn care
Professional Management
Accounting services

In contrast, townhomes and single residential residences usually include few to none. However, Condominium amenities might include:

Indoor or outdoor pool
Party room
Exercise room
Whirlpool
Sauna
Guest room
Game room
Playground
Golf putting green
BBQ area
Security system
Storage lockers

Any provision in a tenancy agreement that forbids animals, frequently called the no pet provision, violates the Act. In other words, a pet provision in a tenancy agreement is void. However, exceptions do apply. For instance, provisions in the Ontario Human Rights Code and pet restrictions in Condominiums apply subject to certain qualifications. A Condominium declaration may contain enforceable provisions, such as a no pet provision, relating to the occupation and use of units and common areas. Any tenant or landlord seeking detailed information or currently involved in a dispute concerning animals should contact the Landlord and Tenant Board and/or seek expert advice.

In addition, the landlord may apply for an order to terminate the tenancy and evict the tenant under selected circumstances concerning animals. For example, this applies where the animal causes substantial interference with reasonable enjoyment, causes a serious allergic reaction, or is inherently dangerous.