Joining the board of directors for your brand-new condo is a great way to get involved in your new community. Board members play an important role in the day-to-day operations of your complex, which include maintaining the property, managing the corporation’s finances and ensuring that the rules specific to your condo are being followed.
Another important responsibility of condo board members is to manage the warranty on the shared areas and amenities – also known as common elements.
The common elements warranty
The builder’s warranty on common elements begins on the date a new condominium project is registered and lasts for a total of seven years. For one year, these elements are protected against general defects in work and materials, including building code violations. The two-year warranty covers defects that affect major systems (such as heating, plumbing and electrical) or result in water leaks. Finally, the common elements are protected against major structural defects and hazardous substances for seven years.
The first-year performance audit
A key part of the warranty for common elements is the performance audit. During the first year after your project is registered, the board must arrange for an audit of the common elements. The audit is conducted by a qualified individual (in most cases an engineer), and the purpose is to determine if there are any construction defects that need to be addressed by the builder. Issues identified during the audit are submitted to the builder and Tarion, which is the province’s warranty administrator, and progress on them is tracked at regular intervals by a representative for the board.
Managing warranty claims
Your board will need to choose a designate, such as the property manager or the person who conducted the performance audit, to work with the builder to resolve any warranty issues. To help make the warranty claim process easier, this person can register with an online portal to submit claim forms and track the status of audit issues.
Find more information about the condominium common elements warranty at tarion.com