While many condominium buyers purchase their units with the intent of renting it out to a third party, they need to confirm this through a review of the governing documents and the provincial legislation of the condominium. During the time a person is choosing a condominium, questions regarding boundaries, maintenance, management, appearance, insurance, rules of occupants (pets/noise) are highly encouraged.
Questions to ask when choosing a condominium
What are the unit boundaries?
What will my maintenance obligations be?
What management style is being used, and am I comfortable with it?
What are the rules regarding the allowable number of occupants, noise, pets, amenities, parking, etc, and how are these upheld?
Can I alter my unit’s appearance? If I want to change something, what procedure do I have to follow to get permission?
Does the condominium corporation have the minimum insurance required by my provincial or territorial legislation?
What will my insurance obligations be?
Your Guide to Ottawa Condos