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The Condominium Property Act, 1993,Condominium Property Regulations 2001 and their subsequent updates identify the requirement for Standard Unit Description.
Standard Unit Description enables the Condominium Corporation and residential unit owners to identify the level of fit-up provided by the developer in their standard package offered at the time ofpurchase at the time the unit was constructed. Improvements above the basic package offered by the developer or installed by past and current owners can then be identified as improvements.
Standard Unit Descriptions enable both the Condominium Corporation and residential unit owner to identify where the Condominium Corporations responsibility ends and the tenants responsibilitycommences for any repairs to damage. In the case of Tenant Insurance, it enables the owners to identify improvements above the standard unit descriptionthat will identify additional coveragefor the tenant insurance package in the event of an incident that requires an insurance claim to be made.
tas- Technical Advisory Services has been working with Property Managers to review construction drawings, developer sales and promotional packages, as well as any additional documentation to prepare Standard Unit Descriptions in the ISC – Information Services Corporation, Standard Unit Description format to be part of the Corporations Bylaws and submitted to ISC for approval.
THE CONDOMINIUM PROPERTY ACT 1993, States:
PART 1, Introductory Matters
Interpretation
(1) In this Act “standard unit description” means the standard unit description for each unit or class of units that is:
PART V, Insurance
Duty to insure
What constitutes an improvement made or acquired by an owner with respect to a unit is to be determined in accordance with the standard unit description, if any, for that unit or the class of units of which the unit is a member.
CONDOMINIUM PROPERTY REGULATIONS, 2001
Units, Parking Spaces and Parking Units, Standard unit
11.1 A standard unit description for units intended for residential purposes:
20 June 2014 SR 52/2014 s6; 4 Mar 2016 SR; 20/2016 s5.
Section 53, Estoppel Certificate
Insurance
□ Yes If yes, the standard unit description is attached.
□ No No attachment required.
For full details please go to the THE CONDOMINIUM PROPERTY ACT 1993 and CONDOMINIUM PROPERTY REGULATIONS, 2001 link.