Explaining Ontario's Condominium Act Review, Stage 1.
The infographic starts by demonstrating that there are over one million condominium residents in Ontario. It states that 50% of new homes built are condos, that Toronto alone is the fastest-growing condo market in North America and that there are 525,000 condo units in Ontario.
The infographic then show that condo residents can take part in a series of public information sessions taking place in Thunder Bay, Ottawa, Sudbury, Toronto, Mississauga, and London. It also explains how a residents' panel will be recruited to work together with a stakeholders' panel to share ideas and propose changes to the Condominium Act.
Their proposals will be combined with input shared at the public info sessions and sent to oncondo@ontario.ca in a findings report targeted for release in early 2013.
The public can get involved on Twitter by following @ontarioconsumer and using the hashtag #oncondo or emailing oncondo@ontario.ca. More info can also be found at ontario.ca/condos.
Stage two of the review is targeted for 2013.
When making an investment into a condominium, its important to keep several things in mind to maximize your return on investment. Don't assume that you will live out your days in your condo. Hope for good times, but plan for the bad ones.
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