QUÉBEC, April 4, 2019 /CNW Telbec/ - The Québec Federation of Real Estate Boards (QFREB) welcomes the measures proposed by the Minister of Municipal Affairs and Housing, Andrée Laforest, regarding the regulation of building inspectors and divided co-ownership in Bill 16, An Act Mainly to Regulate Building Inspections and Divided Co-Ownership, to Replace the Name and Improve the Rules of Operation of the Régie du Logement and to Amend the Act Respecting the Société d'habitation du Québec and Various Legislative Provisions Concerning Municipal Affairs.
Reforms to co-ownership
The QFREB, which considers it essential that the rights, powers and obligations of syndicates of co-owners be suitably framed so as to properly protect condominium buyers, had been asking for reforms to the legislative framework governing co-ownership and for implementation of measures to ensure improved management of contingency funds.
The new legislation, which reintroduces the key measures of Bill 401, tabled last June, will require every syndicate of co-owners to maintain an up-to-date certificate attesting to the state of its finances and the condition of the property under divided co-ownership. The syndicate will also have to provide future buyers of units with certain information about the property and the syndicate.
The co-owners' annual contribution to the contingency fund will be determined based on a study establishing the amounts necessary for the fund to be sufficient. Lastly, a maintenance log must be kept and revised periodically for every property under divided co-ownership.
"Having appealed to the Government of Québec on many occasions in recent years to implement reforms to co-ownership, we applaud the speed with which Minister Laforest has tabled Bill 16," said QFREB President Patrick Juanéda.
Regulation of building inspectors
The Régie du bâtiment du Québec will be granted new regulatory powers enabling it to regulate building inspections.
"Building inspection is a complex profession that must be strictly regulated," Mr. Juanéda explained. "Real estate brokers have long noted a lack of consistency in the inspection process, and the absence of professional regulatory standards has hampered the proper protection of consumers—buyers and sellers alike."
The Federation had lobbied for better regulation of building inspections and for alignment of competencies.
Journée sur la Colline
Representatives of the QFREB were on hand at the National Assembly to meet lawmakers. This "Day on the Hill" aimed to raise awareness of the Federation among the many new MNAs, and also to ensure members are informed of the issues of concern to the QFREB. During meetings with the caucuses of the four parties represented in the National Assembly, the QFREB representatives covered matters such as the importance of regulating homebuyer assistance companies and expanding access to homeownership.
With the Federation celebrating its 25th anniversary this year, Minister Laforest took time to acknowledge the milestone in the Blue Room of the National Assembly, stating:
"Pursuant to its mission, the Québec Federation of Real Estate Boards upholds and defends the les interests of local real estate brokers. On the occasion of its quarter-century anniversary, I therefore take this opportunity to thank them for their longstanding contributions and collaboration."
About the Québec Federation of Real Estate Boards
The Québec Federation of Real Estate Boards is a non-profit organization representing the province's eight real estate board as well as its nearly 13,000 member real estate brokers. Its mission is to support Québec's real estate boards in order to defend, protect and promote the interests of real estate brokers by providing services in the areas of professional practices, public affairs and market analysis. The QFREB is guided by an approached focused on collaboration and resource-sharing.
SOURCE Québec Federation of Real Estate Boards
For further information: Jacynthe Alain, Manager, Communications and Public Relations, Québec Federation of Real Estate Boards (QFREB), Cell: 514 647-8249, [email protected]