Friday, January 26, 2024

If You are a Renter, Your Inflation Rate is Double. New to Canada? We have Mortgage Programs for That! Bank Rate on Hold.

 

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Strata Tip of the Week - When Bylaw Packages get Confusing

1. Understanding Strata Bylaws

Strata bylaws are regulations that help govern the management, maintenance, and use of shared property and facilities in a strata development. They help maintain harmony and safeguard property values.

2. The Challenge with Some Bylaw Packages

Unfortunately, some strata corporations have bylaw packages that are hard to understand. This complexity can be confusing for everyone, from current residents to potential buyers and Realtors. A frequent challenge lies in identifying the most recent and applicable bylaws, and understanding their implications.

3.  Common Issues with Bylaw Packages

For example, we often receive bylaw packages that, in addition to the main set of bylaws, include amendments, upon amendments, upon amendments, upon… you guessed it… amendments.

This layering of amendments makes it challenging to identify the latest, enforceable bylaws. To fully understand the current bylaws, one needs to:

• First obtain the original bylaws and all subsequent amendments, and

• Read through the original bylaws and all amendments chronologically, as filed with the Land Title and Survey Authority (LTSA).

4. If Unsure, Recommend Legal Advice

If you receive a bylaw package with multiple amendments, advising buyers to seek legal advice may be wise. This can help ensure the bylaws are thoroughly reviewed and understood, and it can help identify bylaws which may conflict with the buyers’ needs or lifestyle preferences.

5. Why Bylaw Packages Become Overcomplicated

The root of this problem is often poor advice during the amendment and filing process. Ideally, stratas should follow these steps when amending their bylaws:

• Seek Legal Advice: Get professional guidance to ensure proposed changes are legally enforceable and implement current-day best practices.

• Hold a General Meeting: To gain approval for the new bylaws and/or bylaw amendments.

• Include a Repeal Resolution: This should nullify all previous bylaws, allowing for a new, consolidated package to be filed.

• File the New Bylaw Package: With the LTSA. Only once filed, do a strata’s bylaws become enforceable.

6. Advantages of a Streamlined Approach

By adhering to this process, strata corporations can maintain a bylaw package that includes only the current, enforceable bylaws. This approach greatly simplifies the review process for everyone involved, ensuring the strata’s bylaws are easy to understand and follow.

If you have questions please let us know at info@condoclear.ca.  Disclaimer: The information provided is for general purposes only. It is not intended to provide legal advice or opinions of any kind. No one should act, or refrain from acting, based solely upon the materials provided, any hypertext links or other general information without first seeking appropriate legal or other professional advice. Condo Clear Services Inc.

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Just immigrated to Canada? Welcome! You may be eligible for the New to Canada program that can assist with the purchase of a home with just 5% down on homes under $500,000. Contact me to get more details and determine if you qualify!

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Diana Winger Personal Real Estate Corporation
 eXp Realty | CNE, SRS, SRES, ABR
Mortgage Agent Level 1 Valko Financial LTD #13047
Dominion Lending Centres
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Friday, January 12, 2024

James Bay Condo For Sale, Turning Point in Housing Market, Presale Risk, Recession? Victoria Housing Projects & New Rental Building

 

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🎉 JUST LISTED 🎉 Check out this awesome condo in #Victoria  that just hit the market in #jamesbay near the ocean at Dallas Road and Downtown.

 

🛏   1 Bedroom

🛁   1 Bathroom

🏡   630 SQFT

🌟   Seasonal Pool

 

⬇️ Click below for all photos & details ⬇️

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Diana Winger Personal Real Estate Corporation
 eXp Realty | CNE, SRS, SRES, ABR
Mortgage Agent Level 1 Valko Financial LTD #13047
Dominion Lending Centres
 HomeVictoria.com | Housesforsale369.com 
WingerRealEstate.ca | SearchBestMortgages.com
(250) 588-8839  (226) 705-3369
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