104 replies to this topic

[Redd42]

 

 

A restriction change of this significance should involve a lawyer to prepare the resolution and necessary bylaw wording before the vote so that everyone knows all the potential implications and you're not left scrambling to figure it out afterwards.

 

EDIT:  Unfortunately you can't always rely on the property manager to give you sound guidance here.  In our strata where we lifted the age restriction the property manager insisted that we didn't need a separate commercial vote.  

 

In the last condo I owned a vote was taken with intention of restricting rentals. The poorly worded resolution resulted in NO rental restrictions. Oops!

 

And don't get me started on the lack of competency of some property managers. 

[Victoria Watcher]

go thru all the relevant articles here i'm sure you'll find lots of info:

 

https://www.choa.bc....s/condo-smarts/

Edited by Victoria Watcher, 08 March 2019 - 07:52 AM.

[DavidC]

I love a happy ending...

The bylaw amendment via a 3/4 vote to institute rental restrictions tabled by council for this months AGM has been removed from the docket.

It seems someone checked (better late than never right?) and found that the rental disclosure form registered in 2012 is for a period of 100 years.  (no rental restrictions until 2112 for you Rush fans)

I guess myself and successors, even subsequent purchasers are grandfathered for a bit...   

[Victoria Watcher]

after 2010 or so it was common to have those 50/100 year things in.

[MarkoJ]

Where are stratas coming up with these rental restriction ideas? Who would want their place to drop approximately 10% in terms of market value? I've been to quite a few SGMs/AGMs in buildings I own where this non-sense has been tabled and the arguments are soooo soooo bad.

 

Usually along the lines of 

 

- Tenants are second class citizens, but obviously not worded exactly like that.

 

- "These are our homes, not are investments," but then the same people call me to sell their units and complain about how it isn't worth what they were expecting. 

 

- "my realtor told me that buildings with no rentals sell for a higher amount."

 

etc., etc.....so frustrating to have to listen to the nauseating bs.