There are many actions which a Condo board can take with you, you might not be even knowing about that. In recent times there has been a lot of court decisions and cases regarding Airbnb. New condos in Toronto follow a strict set of rules and regulations. The people who have lived in luxury condos have heard the terms like condo fees, and board, but they cannot do anything regarding the community as it seems complicated.
Your top 5 things which your luxury condo board in Toronto might do
- Sell your unit
A condo can be never sold, this is one of the most serious interferences with the rights of ownership. This is also one of the reasons why people want to buy their own homes to enjoy the freedom of being a rightful owner. But in some cases, the luxury Condo board in Toronto can force you to sell the condo, like if you have not paid, the fees. Also, the fees can never be negotiated even if they become too expensive. This is the fees paid by the owners for the maintenance of the building and the use of amenities. These are also used as emergency funds for the new condos Toronto. The worst thing is you cannot opt out of paying the fees just when you decide not using the amenities.
- Ban pet animals
Many new condos Toronto have fixed rules about pets, so don’t be surprised if you find a Condo in Toronto which has banned pets. There are laws, which restricts pets and the owners have to follow the rules accordingly. Most of the boards have a no pet policy in the agreement. There are some exceptions in which pets can be allowed.
- You have no right over the renovations and Decor
You will be surprised to know that even after spending thousands of dollars on the down payment of the luxury condo, you can be fined for choosing the wrong shade of color for the exteriors, you can also not change the cosmetic features of your living space. Even if you want to change the times of your old kitchen floor you have to take the permission of the board. Many people get away with this and completely disregard this room. But if the board finds out about unauthorized renovation you could be fined heavily.
- Limitation on occupancy
There is a strict limitation on the use of amenities, and luxury condos in Toronto are limited to single-family dwellings. There is also a rule which allows only two people in one single sleeping room. This is considered to be one of the strangest rules that are followed in the new condos Toronto.
- The unit may enter your condo
This is a rare rule, but in case of emergencies like a fire or any other management, the board is authorized to enter your condo without prior notice, they can also enter your building for inspection of heating systems, cooling systems, and smoke detectors.