We amended the Yukon’s condominium legislation to support our growing condominium sector. Our goal is to balance consumer protection while allowing for more flexibility in housing development.
The Regulations clarify how various types of condominiums may be developed and will be regulated. This will help facilitate a stable housing market in the Yukon.
The new legislation provides:
- additional rights and protection measures for buyers, owners and renters of condominiums;
- provisions that ensure responsible construction and governance of condominiums; and
- opportunities for local businesses and professionals to produce reserve fund studies, building assessment reports and financial statements.
The Yukon Legislative Assembly passed amendments to the Condominium Act, 2015, in December 2020. The new Condominium Act, 2015, came into force on October 1, 2022, along with 6 new Regulations under the Act.
The new Regulations will provide the legislative framework for condominium ownership and development. The 6 Regulations are the:
- Condominium General Regulation;
- Condominium Reserve Fund Regulation;
- Bare Land Condominium Regulation;
- Condominiums on Leasehold Land Regulation;
- Phased Development Regulation; and
- Converted Building Condominium Regulation.
As in Canadian provinces, condominium corporations in the Yukon are self-governing. The same governance framework applies to all condominiums. This ranges from simple duplexes with only 2 condominium units to much more complex developments.