Toronto Condos – Tarion Warranty Program
From Tridel
Your new Tridel condo comes with an extensive warranty program and is guaranteed by Tarion (formerly ONHWP – Ontario New Home Warranty Program), a private corporation that protects the statutory warranty rights of new home buyers under the Ontario New Home Warranties Plan Act. Every new home and condo built in Ontario is designed to meet or surpass both the structural requirements and the health and safety standards of the Ontario Building Code.
Tarion is a government regulated organization which regulates and licenses all builders and vendors of new homes in Ontario, and provides the following safeguards and benefits to all new home and condo purchasers.
1. Deposit protection of up to a maximum of $20,000
2. A one-year all purpose warranty against defects in workmanship and materials
3. A two-year “power train” warranty against defects regarding the electrical, plumbing and heating delivery/distribution systems, as well as violations of the Ontario Building Code’s health and safety provisions
4. In addition to providing warranty coverage for the individual unit, (up to a maximum of $150,000), Tarion provides warranty coverage for the common elements of the condominium, (up to a maximum of $2.5 million)
5. Protection against major structural defects (for 7 years)
6. Protection against substitutions of key elements in a new home made without the purchaser’s approval, in those cases where the agreement of purchase and sale expressly allows the purchaser to make choices regarding such elements
7. Compensation and protection to purchasers for delayed closings
All builders are required to deliver the most current version of the Homeowner Information Package published by the Tarion Warranty corporation. This package explains how the new home warranty process works including how to submit a claim to Tarion and outlining the time lines to respond to complaints. To download a copy of the Homeowner Information Package in PDF format, please visit the Tarion web site.
The warranty coverage begins from the date of occupancy (not move-in, if they are different) and remains in effect from that date, even if the unit is sold. It is important that you understand the difference between warranty items (which are covered by us) and maintenance items, which are the responsibility of the homeowner.
Suite coverage is divided into one, two and seven year protection against defects in work and materials. More details about this coverage are outlined below:
One-Year Warranty Protection
The builder warrants that the home is free from defects in work and materials, is fit to live in and meets the Ontario Building Code requirements. It essentially covers all noted building deficiencies listed in the CCP (Certificate of Completion and Possession) and otherwise brought to Tarion’s attention in writing before the end of the 1st year. If Tarion does not receive notice in writing within the 1-year warranty period, then the claim may not be allowed.
Note: Purchasers may claim from Tarion within the 1 year period for items not completed by the builder on the home/condo, for up to a maximum of 2% of the purchase price of the home, or $5,000.00, whichever is greater.
Two-Year Warranty Protection
The builder warrants for 2 years that there is no:
* Water seepage in the basement or foundation walls. (In condominiums, this protection includes all below ground areas such as parking garages)
* Defects in materials and work including caulking, windows and doors ensuring that the building envelope prevents water penetration
* Defects in material and work in the electrical, plumbing and heating delivery and distribution systems
* Defects in materials and work which result in the detachment, displacement or deterioration of exterior cladding, leading to detachment or serious deterioration
* Violations of the Ontario Building Code’s health and safety provisions
Seven-Year Warranty Protection
The builder warrants for 7 years that there are no major structural defects, which are defined as any defect in material or work that results in the failure of a load-bearing part of the home’s structure, or any defect in material or work that significantly and adversely affects the purchaser’s home.
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