Search Results for: Condominium Documents

Before purchasing a condominium unit, review your condominium board’s meeting minutes. Consider the following things when reviewing the condo’s meeting minutes:

• Is the condominium corporation facing any serious maintenance or repair issues? If so, how is the board dealing with these issues? Keep an eye out for any issues related to the building envelope and/or a roof that’s leaking. This could be a sign of major structural issues that could cost a lot of money to fix.
• What complaints or issues have owners raised? How has the condominium board dealt with these? This is will be a good indication of how owners and the board work together to address problems.
• Is the condominium corporation facing any financial issues? If so, how is the board addressing these issues? You will also want to review the budget, financial statements, annual report, and reserve fund information.
• Has the condo had any difficulty filling board positions? This is a good indication of whether owners are actively involved and engaged in the operation and management of the condominium.
• Have there been any complaints or issues about the property manager? If so, how have the board dealt with them?
• Have there been any issues or complaints about tenants who are renting units? If so, how have the board dealt with them?

The meeting minutes will give you a good idea of how the condominium is operated and managed. It is important to consider how the condominium board deals with problems that arise – whether they are maintenance, interpersonal, or financial problems.

For a complete overview of what you need to know about condo finances before you buy, download our free publication: Before You Buy: Understanding Condo Finances.

Last updated: August 2026

Post-tension cables reinforce concrete during a condominium’s construction. If properly installed and maintained, the cables do not present a safety risk. However, the cables can be a problem if not properly installed or if exposed to water. For example, the cables can begin to corrode and weaken, which then weakens the concrete it is reinforcing.

Condominium plans registered before September 1, 2000 will not have a certificate stating the use of post-tension cables. However, you can request the information from the condominium corporation. You can also ask if the corporation has had any problems with cables and if they have had issues, what they are doing to address them.

Thank you to the Alberta Real Estate Association for allowing portions of their Condominium A to Z guide to be adapted for use in this section.

Last updated: August 2026

Condominium newsletters are a good way to get a sense of the lifestyle and community in the complex.  Newsletters may also address financial, repair, or maintenance issues. It will also give you an idea of how the condominium board is communicating with owners about such issues.

 

In Alberta, any condominiums developed under a phased development model require developers to file a phased development disclosure statement with the initial condominium plan. For more information about multi-stage developments, visit Buying New: Multi-Stage Developments.

Why is it important to review the phased development disclosure statement?

The Condominium Property Act requires certain information to be in a phased development disclosure statement. So this information will give you a better idea of how the completed project will look and function.

Can the statement change?

Yes, but a developer cannot change the statement without the consent of two thirds of the owners, not including the developer, who have the right to vote under the Condominium Property Act. Also, developers can make changes to the statement without owner consent if changes are required to meet zoning, land use, or municipal development laws.

For more information about who can vote, visit Meetings.

What happens if a develop does not complete a project?

If a developer cannot or will not be able to complete the multi-stage development, the condominium corporation can make a court application to deal with the undeveloped land and unfinished improvements or additions to the common property. So condominium corporations should talk to a lawyer for legal advice.

Last updated: August 2026

Before you buy, determine whether the condominium corporation is involved in any legal proceedings. Consider the following:

• Have any legal actions or claims been made against the corporation?
• Does the corporation currently have any outstanding judgment orders resulting from previous legal proceedings?
• Have any written demands over $5,000 been made against the corporation that could result in legal proceedings being taken?
• What is the nature of the legal action or demand facing the corporation?

If the corporation is involved in legal proceedings, you should be extremely cautious about buying a unit in the development. Legal proceedings are expensive and could be a sign the corporation is in trouble financially or otherwise.

Make sure to talk to a lawyer about the potential consequences of purchasing property if the condominium corporation is facing legal action or has a significant outstanding judgment.

Last updated: August 2026

A recreational agreement will allow one of the following:

• owners to use recreational facilities not located on the condominium’s common property or
• non-owners to use the recreational facilities located on the condominium’s common property

Before you buy, review any recreational agreement that exists. Consider whether it fits your needs and lifestyle.

Are there recreational facilities on the premises? Make sure to review any related bylaws or rules. For example, the fitness centre or pool may only be open certain hours. Will these hours work for your schedule?

Planning to use the recreational facilities? Consider if the complex fits you and your budget. Condominiums with recreational facilities tend to have higher condominium contributions than those without.

June 2022

When purchasing a bare land condominium unit that already contains structures like a house or garage, you should request a real property report from the seller.

A real property report is a physical land survey that a registered land surveyor prepares. It will show:

• the physical boundaries of the bare land unit;
• the size and location of all structures on the unit;
• any rights of way or easements located on the property; and,
• if the structures on the property comply with municipal bylaws.

For conventional condominiums or bare land condominiums without structures, the condominium plan provides all of the necessary information.

For more detailed information about Real Property Reports, visit the Alberta Land Surveyors’ Association’s information page.

Thank you to the Alberta Real Estate Association for allowing portions of their Condominium A to Z course manual to be adapted for use in this section.

Last updated: August 2026

When you buy a new condominium unit, the developer must give you a copy of any mortgage or proposed mortgage affecting the title to the unit. Alternatively, a developer can provide a notice with the following information:

• the maximum principal amount available under the mortgage
• the maximum monthly payment payable under the mortgage
• the amortization period
• the term
• the interest rate (or the formula for determining the interest rate) and
• any prepayment privileges

What do these terms mean?

Principal: The amount of money a buyer borrows to purchase a property.

Amortization Period: Length of time required to pay off the mortgage in full. The amortization period will impact how much interest you pay over the lifetime of the mortgage.

Term: The length of the current mortgage agreement. Many mortgage agreements have a three to five year term with an amortization period of 25 years. For the term, there may be a set interest rate and certain rules around how much is payable on the mortgage every month. Once the term expires, you either have to enter into a new term agreement or pay back the mortgage in full. If you enter into a new agreement, you may be able to renegotiate the interest rate and rules around repayment.

Interest Rate: This is the amount the lender charges for loaning you the principal amount (the money you borrowed to pay for the property). The interest rate will usually vary by term agreement and may be renegotiated when a term ends.

Prepayment Privileges: Some mortgages will allow you to make extra payments to pay off the mortgage early. However, some mortgages come with a financial penalty if you make prepayments. It is important to consider whether you will want this option available.

Thank you to the Alberta Real Estate Association for allowing portions of their Condominium A to Z course manual to be adapted for use in this section.

Where to go for more information

It is important to educate yourself about mortgages before you purchase a property. Visit the Government of Canada’s Financial Consumer Agency for detailed information about mortgages.

Last updated: August 2026

On written request, a condominium corporation must provide a statement outlining:

• any structural deficiencies or
• problems it has knowledge of (at the time of request) in the buildings included in the condominium plan

Review this statement along with the reserve fund report and plan for deficiencies to address in the future and the potential costs of dealing with them. How will the condominium corporation cover the costs? Is there enough money in the reserve fund? Will there be a need for a special assessment or increasing condominium contributions?

You should also note any deficiencies mentioned in the statement but not included in the reserve fund report or plan. Also, there may be new problems since the last reserve fund study.

Talk to your lawyer or real estate agent about possible structural deficiencies and potential risks of buying the property. Consider hiring a home inspector or engineer to help you assess the benefits and risks of the property before you buy.

Last updated: August 2026