i. |
Main floor retail (not forming part of the residential condominium); |
ii. |
Hotel, if any (again, not forming part of the residential condominium); |
iii. |
Residential condominium corporation on upper levels; and/or |
iv. |
Below grade commercial parking lots (as well as any combination of the above). |
i. |
Greater regulation and oversight of board members, including a requirement for education for first time directors; |
ii. |
Expansion of the appointments of administrators to run the condominiums, which will likely add another layer of expense to those who can least afford it; |
iii. |
A workable mechanism for terminating some of these condominium corporations, many of which are built on large parcels of land, with a view to the possible redevelopment of the sites. |
i. |
Absentee landlords; |
ii. |
Tenants who have not “bought into the building”; and |
iii. |
An imbalance between owner-occupiers and tenants, with 20% of the owners taking responsibility for the administration of the building. |