Condo ByLaws
Standard Unit Bylaw - (SUB) - Approval!
The Standard Unit Bylaw was formally adopted at a ratification meeting of the Board (Jan 3). This should clarify the responsibilities of the respective insurance companies, and speed up the repair work should anyone one have a catastrophic failure or damage to their unit.
The information about the SUB is still available (click on the link above). Please take a minute to look through the following information about the SUB.
What exactly is a standard unit byLaw?
The condominium Act 1998 encourages condominium boards to establish a Standard Unit Bylaw. The Standard Unit Bylaw is important because it determines the responsibility for insuring and repairing improvements after catastrophic damage to your home
What's the process?
It is a formal process, mandated by the Condominium Act. It requires all owners
* To be informed about the Standard Unit Bylaw
* To be provided with a draft of the proposed Bylaw
* To have an opportunity to discuss the Bylaw and reach consensus
* To vote to adopt the Bylaw.
With this summary, we are continuing the process begun at the annual General Meeting
Where can I learn more about the SUB?
You can learn more at https://www.ontario.ca/page/condominium-law-changes (scroll to "Insurance"), or you can chat with any of the Board Members or with Diane Zerafa, Property Manager for Goldview Property Management and YCC#110.
Is this about minor or catastrophic damage to my home?
Immediately following catastrophic damage to your home, such as from a flood, fire, explosion, or severe weather, you will need to know exactly what is covered by your own home-insurance policy, and what is covered by the corporation's insurance. This is NOT a time for uncertainty or squabbling - both of which lead to delays in repairing and restoring your unit. Without a definition of the "Standard Unit", this is exactly what happens!
What does the Standard Unit ByLaw actually do for us as owners?
The overall goal of the Standard Unit Bylaw is to make sure all units in the complex will be restored, without unnecessary delay, to the condition they were in before the damage occurred.
The Standard Unit Bylaw formally defines exactly what constitutes a "Standard Unit", leaving everything else to be considered an "Improvement".
The condominium corporation is required, by law, to pay for damage to the "standard unit" and maintains insurance coverage for this purpose. We, as owners of the corporation pay for these damages, indirectly, through our monthly maintenance fees.
As a homeowner, you are responsible, through your own insurance policy, for damage to what are called "improvements", which are essentially all finishes, surfaces, and equipment beyond the basic structure of the unit.
Do all condos have a Standard Unit Bylaw?
Condominiums built after 2001 are required to have a definition of a “Standard Unit” established in a corporation bylaw. For condominiums built before that date (this includes YCC#110, Silver Shadow Path), the Standard Unit Bylaw remains optional, but is highly recommended as protection for all owners, individually and collectively.
What if we don’t have one?
Without a Standard Unit Bylaw, we can expect that a major incident will be followed by delays and uncertain costs, occurring at a time when action is needed right away!
We can highlight two major incidences of catastrophic damage at Silver Shadow Path in the last two years. Each residence sustained major damage to multiple floors in the units, requiring extensive removal and replacement of the interiors. Because we do not yet have a definition of a "Standard Unit", the division of responsibility between the Corporation's and the homeowner's insurance coverage was not clearly specified, resulting in delay, disagreement, disruption, and unnecessary extra costs.
More extreme weather, and the increasing age of the property are already contributing to increasing repair costs and rising insurance premiums, and those costs are borne by each of us – as owners. Having a Standard Unit Bylaw is an important step toward retaining control over these increases, and maintaining property values.
NOVEMBER 15: We can now move ahead and formally adopt the Standard Unit Bylaw. The next step is to schedule a ratification meeting (optuional, - we already have the votes, this meeting is just to formally register that fact.
