All condominium developments are governed by the CPA. All condominiums, including apartment conversions, must form a condominium corporation including all unit owners. Unit owners pay condominium fees to cover the costs of the corporation proportional to the value of their ownership in the condominium. The corporation provides a forum for owners and manages the common property of the development, including utilities, roadways, landscaping, maintenance, services, and amenities, rehabilitation and replacement funds, and taxes. Unit owners are responsible for individual utilities, repairs and maintenance within the units, unit taxes and mortgages. The condominium corporation is also responsible for the maintenance and upkeep of all completed on-site roadways, utilities, and services. A municipality may require an on-going contract with the condominium corporation, addressing waste disposal, snow removal and other municipal services provided to the condominium development.
As units are sold, the CPA governs the transition of common property from the developer to the corporation of owners. The corporation must adopt bylaws and elect a board of directors. Condominium guides and bylaws are available through Information Services (ISC).
There are two main types of condominium projects:
- A building condominium
A Building condominium is a building(s) divided into individually owned units. Each unit is identified in the condominium plan. The land, the outside walls, service areas, and joint use areas of the building are considered common property. This type of condominium development does not require any subdivision of land and is referred to in The Condominium Property Act, 1993 (CPA) as a "regular" condominium.
- A bare land condominium
A Bare land condominium involves dividing a parcel of land into individually owned ‘bare land units'. A proposed plan of survey to create a bare land condominium requires the subdivision of the land and subdivision approval pursuant to the The Planning and Development Act, 2007. Buildings on each bare land unit are owned by the individuals. The balance of the parcel around the units is common property. Generally, buildings on private units or common property are not constructed until after the bare land condominium plan has been registered. To ensure compliance with municipal bylaws, the municipality should discuss with the developer, any proposed construction of buildings prior to registration of the condominium plan. All buildings and improvements on common property are owned by the condominium corporation. Bare land condominiums are sometimes managed as exclusive communities, with control over local access.