Changes are coming to the way condo boards in Ontario operate. To increase transparency, Condominium Directors will have their names listed in a publicly accessible database. Currently, that information is available by paying a steep fee. This rule was implemented after a group of people tried to take over at least six Toronto condo boards last year. The new regulations will also mandate mandatory training for board directors and a licensing plan for property manager.
The government hopes these changes will improve condo governance and eliminate over spending and poor management, though the government also recognizes it might lead to higher fees for property managers.
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