Condominium properties have existed in Canada for more than 50
years. In fact, the first condominium property registered anywhere
in Canada was in Edmonton, Alberta, in 1967. This is a
townhouse-style property known as "Brentwood Village",
that still exists today. Despite this, condominiums remain a
relatively new form of land ownership from a legislative
standpoint.
While the law regarding condominiums is, arguably, still very
much in its infancy (and developing more and more every day), it is
undeniable that the earliest condominium properties are beginning
to age. Some properties show their age more than others (read: this
is a nice way of saying that some properties tend to be less
well-maintained over time). In some instances, the costs of
completing necessary capital repairs and replacements are more than
the individual owners can manage through payment of monthly fees
and special levies.
