Ontario to increase penalties around 'unethical' condo development practices
Ontario plans to increase fines and other penalties for "unethical" condominium development practices.
Government and Consumer Services Minister Ross Romano said the proposed new regulations are set to take effect in 30 days and be retroactive to the date of Thursday's announcement.
Romano said the Progressive Conservative government is looking to make the changes after hearing about situations where people "make a commitment to purchase at one price, and then those prices are being extraordinarily increased."
"Our goal is to create a system whereby we have greater teeth so that developers will think twice before they take advantage of homebuyers," Romano told reporters.
The regulations would double fines for corporations and individuals who cancel pre-construction projects and then increase the price of their units.
They would also remove limits on fines for repeat offenders and introduce the potential for developers who engage in such practices to lose licences for two years, instead of for six months as is the current limit, Romano said.
Under the new rules, offences would be considered when assessing "unethical behaviour" and determining penalties. The Home Construction Regulatory Authority would be able to launch investigations without complaint to speed up the process.
"We've given notice. Developers need to take notice that we are not going to accept this behaviour," Romano said.
"These are all tools that we are giving our regulatory authority to ensure that we are protecting the little guy."
He said changes would also ensure that deposits are returned at the Bank of Canada interest rate so consumers don't lose money if a condo project is cancelled.
A consultation process is underway for the proposed rules.
Romano said the government is also working on other plans to address affordable home ownership in the province.
The Opposition New Democrats said the stricter penalties won't be effective if they aren't enforced.
Deputy party leader Sara Singh noted that the regulatory authority already had the power to issue fines.
"The tools are important, but actually acting and enforcing those mechanisms (is) also really important," she said.
This report by The Canadian Press was first published March 24, 2022.
CTVNews.ca Top Stories
Poilievre kicked out of Commons after calling Prime Minister Justin Trudeau 'wacko'
Testy exchanges between the prime minister and his chief opponent ended with the Opposition leader and one of his MPs being ejected from the House of Commons on Tuesday -- and the rest of Conservative caucus walking out of the chamber in protest.
Baby, grandparents among 4 people killed in wrong-way police chase on Ontario's Hwy. 401
A police chase which started with a liquor store robbery in Bowmanville Monday night ended in tragedy some 20 minutes later when a suspect fleeing police entered Highway 401 in the wrong direction and caused a pileup which killed an infant and the child's grandparents, as well as the suspect, investigators say.
Freeland leaves capital gains tax change out of coming budget implementation bill, here's why
Deputy Prime Minister and Finance Minister Chrystia Freeland will be tabling yet another omnibus bill to pass a sweeping range of measures promised in her April 16 federal budget, though left out of the legislation will be the government's proposed capital gains tax change.
Man dies after suffering cardiac arrest while waiting in ER, widow wants investigation
When an ambulance took David Lippert to the hospital in March of 2023, the 68-year-old Kitchener, Ont., executive was hoping to find out why he was feeling weak and unable to walk. Some 24 hours later, he was found unresponsive in the ER.
Sword-wielding man attacks passersby in London, killing a 14-year-old boy and injuring 4 others
A man wielding a sword attacked members of the public and police officers in a northeast London suburb Tuesday, killing a 14-year-old boy and injuring four other people, British authorities said.
WATCH Arnold Schwarzenegger spotted filming in Elora, Ont.
The name of the project has not been officially released although it’s widely believed to be the Netflix series FUBAR.
Eviction for landlord's use was legitimate, despite owners' partial move, B.C. court rules
A B.C. judge has upheld the eviction of a family from their North Vancouver townhouse, finding that the landlords did not take an unreasonable amount of time to move into the home after the tenants vacated it.
What's causing the catastrophic rainfall in Kenya?
The torrential rains and deadly floods that have hit Kenya since March have been some of the worst in the country in recent years. Here's how factors combined to create the deadly deluge.
BREAKING Hosting Vancouver's FIFA World Cup games could cost half a billion dollars
Hosting seven games in Vancouver during the 2026 FIFA World Cup could cost more than half a billion dollars, according to an updated estimate provided Tuesday.