Download the Minto Home Care Guide - Condo

Glossary of Terms
30 Day Inspection | Within the fi rst 30 days of occupancy, you will submit a report
to Minto and Tarion identifying any items that you feel are a defect in materials or
workmanship. This report will be reviewed at your 30-Day Inspection with a Minto
MasterCare Inspector.
48 Hour Grace Period | If you notice any items that have cosmetic damage when you
move in, report them on your complimentary 48-Hour Grace Period report so that your
Minto MasterCare Inspector knows the damage existed prior to your taking possession.
AVID Ratings Co. | An independent, third party customer satisfaction survey provider.
This is one of the best ways you can tell us how we’re doing so we can gauge our
performance. You will receive a series of three surveys, starting just prior to your
closing date, then during your fi rst year of occupancy from AVID RatingsTM .
Board of Directors | An elected group of homeowners whose purpose is to serve
the interests of the members of the condominium corporation.
Closing Date | The legal transfer of title, when the condominium is registered. You
cannot register a mortgage on your home until the Closing Date. On your closing
date, your condominium has been registered as a separate, legally defi ned, 3D
space – meaning you own everything from the paint inward.
Common Elements | Includes various components of the condominium in which
homeowners share joint ownership. They may include parking garage, roof,
recreational areas, hallways, etc.
Condominium Corporation | A Corporation without share capital, created under the
Condominium Act for the purposes of administering the operation, maintenance and
repair of the common elements and assets of the condominium. It is guided by a
democratically elected Board of Directors consisting of homeowners just like you.
Condominium Document | A charter document that creates the condominium
corporation. It defi nes the boundaries for each home and common elements. It
allocates the responsibility for the repair and maintenance of the homes and
common elements;outlines the condominium’s provisions regarding occupancy
and use; specifi es common expenses and each owner’s proportionate interest
in the common elements; and details each owner’s percentage share of the overall
common expenses.
ENERGY STAR® | An international symbol of energy effi ciency. The ENERGY STAR ®
symbol helps consumers easily identify major appliances and other energy using
equipment that save energy. ENERGY STAR ® is a dynamic government/industry
partnership that makes it easy for businesses and consumers to save money and
protect the environment.
Exclusive Use Common Elements | Particular areas within the condominium’s
common areas that you have the exclusive right to use and enjoy. Examples
may include balconies and patios.
LEED® | The leadership in Energy and Environmental Design (LEED) Green Building
Rating System encourages and accelerates global adoption of sustainable green
building and development practices through the creation and implementation of
universally understood and accepted tools and performance criteria. A third-party
certifi cation program and an internationally accepted benchmark for the design,
construction and operation of high performance green buildings.
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