Common elements, if eligible, are covered under the statutory warranties. Warranty coverage is limited to the lesser of: $50,000 times the number of units and $2.5 million
. The common elements warranty takes effect the day the condominium corporation is registered.
There is no Common Element
warranty coverage for common elements of either a common elements condominium, or a vacant land condominium.
The Ontario New Home Warranties Plan Act
recognizes the condominium corporation as the ‘owner’ of the common elements. Unit owners who experience a common element problem must write to the Board of Directors once the condominium is registered. The Condominium Board is responsible for bringing common element problems to the attention of the builder and Tarion, if necessary. If the Board "Turnover Meeting" has not yet occurred, a unit owner may notify Tarion of common elements problems.