Declaration

The original declaration, that was written by the developer, needs to be well thought-out and error free as it is very difficult to make changes to the declaration. It takes 80 or 90% of all owners, including the owners of the parking spaces, sign units and communication units to approve any changes to the declaration.

The declaration will state:
The number of residential, commercial (if any), parking, locker and communication (if any) units that comprise the corporation.

What percentage of common element fees you will pay
What parts of your unit you must pay to maintain and replace, such as the fan coils, and what parts are common elements that the corporation must maintain and repair. The windows are usually part of the common elements.
Whether you own or just have the exclusive use of your parking spot.
Whether the residential units are for single-family use or are the use regulated by the municipal by-laws.
Whether the residential units can be rented out on a short-term basis, used as suite-hotel units or for small business use.
It may or may not state whether pets are permitted and if they are allowed, what types, sizes and quantities are permitted.
It will list the common elements and what amenities are provided.
If there are shared facilities, the declaration will list the shared facilities and state your corporation's portion of the shared facilities expenses.

top   contents   chapter   previous   next