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Visit listofcondo.ca to look at the top condos in Canada as well as pre construction condos Toronto. Find some great options in Richmond Hill condos and North York condos. Living in condominium is the new fad in Canada as the Canadians discover the i

TORONTO, Canada (prHWY.com) March 23, 2013 - The new developments made by the condominium boards for Toronto new condos offer the unit owners some exclusive right to use certain common spaces. some of these condo openers have been given special permission to erect walls that would make for a private entrance. According to the court, under suitable circumstances, the board managers of a condominium building, can license some areas of the common elements to an individual unit owners, in case there is no interference to the other dwellers. However, it is still not very clear if the condo boards can license the restricted use of areas such as basement storage space, patio space and roof terraces in condominiums Toronto.

What is evident under the new ruling is that the board can only license the common space and cannot sell it. According to real estate lawyers, it is common to see -op shareholders asking to buy shares in common area. These requests are often granted as allowing extra space to the shareholders generates revenue. This can helps in additional maintenance as well as raise the value of the apartments, without diminishing the rights of other unit owners. Condos in Etobicoke are one of the most sought after. The board is allowed to issue new shares for the extra space and sell the shares.
The Etobicoke condos unit owners not only their private units but also enjoy an undivided interest in the common space and other elements. no wonder then that there is a higher demand for condo for sale Toronto.

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