Elara Property Management Inc.

Do you know the rules around Cannabis? While cannabis is legal in Canada, cannabis use may be restricted in condos (owned and rented), apartments and rental homes. Any cannabis restrictions should be clearly set out in the rental agreement or the condominium bylaws.... A landlord or condominium corporation may prohibit in their buildings or on their properties: - smoking of all substances, including cannabis - non-smoking consumption of cannabis - growing cannabis plants Occupants and condo owners should: - check the rental agreement or condo bylaws for cannabis restrictions - not smoke cannabis or other substances where it's prohibited - not grow or consume cannabis where it's prohibited

Are you renting out your Condominium Unit? Make sure to review the important information below from the Governments website on Renting your condominium unit and how it may impact you as Condominium Owner. No restrictions on owners renting their units... Alberta’s Condominium Property Act (the Act) does not allow corporations to create bylaws that prevent owners from renting their condominium unit. However, condominium owners do have responsibilities to their condominium corporations that they must meet before renting. Responsibilities for an owner renting their unit An owner cannot rent their unit until they have provided to the corporation written notice of their intention to rent the unit. The notice must include the address where the owner can be served with any notices and the amount of rent being charged. The owner must also provide the corporation the name of the tenant(s) within 20 days from the start of the tenancy. If the tenancy ends, the owner must notify the corporation within 20 days. The Act requires tenants, and any other person in possession of the unit, to comply with the bylaws of the corporation. The tenants and occupants must not cause damage to the personal property of the corporation or the common property. Deposit from owner The corporation may require an owner to pay a deposit to the corporation. The corporation may use this deposit for repairing any damage to the common property or personal property of the corporation, if the tenant caused the damage. After January 1, 2020, the Condominium Property Regulation sets the maximum rental deposit that may be charged to an owner of a unit that is rented to a tenant at $1,000 or one month’s rent, whichever is greater. Return of deposit to owner The Act requires the owner to give the corporation a written notice within 20 days after the owner no longer rents their unit to a tenant. Within 20 days after receiving the written notice, the corporation must return the deposit to the owner, or return the balance of the deposit along with an itemized statement of account showing the amount used to pay for damages to the common property, the personal property of the corporation, or the managed property.

Reserve fund planning is an integral part of managing a condominium. Requirements of who can provide a Reserve Fund Study and what needs to be included. Check out this fantastic information sheet supplied by the government for a summary on Reserve Fund requirements. ... https://open.alberta.ca//sa-reserve-fund-study-providers-f

Have questions about the rules for your Condominium? Some important resources and informational cues for you to reference: 1. Check out this valuable site for Alberta Residents. It interprets the Condominium Property ACT and summarizes some main and popular topics for easier digestion. ... https://www.condolawalberta.ca/ 2. Ask your property management team for clarification 3. Request a copy of your Corporations specific Bylaws. Important Note: documents often cost money if requesting from your property management team, but some can be ordered for as little at $10.00 on the Government Registry site through Land Titles at https://alta.registries.gov.ab.ca. It’s not a very friendly platform, but calling the helpline or reading the helpme links can walk you through the process. 4. A copy of the Bylaws were most likely included as part of your Sale documents upon purchasing the unit. REMINDER: It’s important, as an Owner, a Shareholder and a contributing member to the health of your shared asset that you not only have a copy of your bylaws abut become familiar with their particular clauses. A special importance should be placed on understanding how they may differ from other bylaws, even from similar properties. So long as they don’t contradict the Condominium Act and local and provincial laws, as well as any other applicable regulations, bylaws have a very relaxed template. This has lead to a substantial variety of adopted bylaw versions across Albertas Condominium Corporations. Review yours today!