On November 26, 2019 the Alberta government approved an Order in Council to the Condominium Property Amendment Act Regulations which now includes Standard Insurable Unit Description (SIUD) for residential units (https://www.alberta.ca/condominium-rules.aspx#toc-1). This is effective January 1, 2020. Reliance is now providing the option for Boards to move forward and complete this requirement.
*Note: For clarification if a claim does occur while this description is in the process of being completed the existing procedure of dealing with the dissemination between the standard finishes and any betterments according to the requirement of the bylaws still applies.
⦁ floor coverings, wall coverings and ceiling coverings
⦁ electrical lines and fixtures, including lighting fixtures
⦁ plumbing lines and fixtures
⦁ natural gas lines and fixtures
⦁ fixtures with respect to air exchange and temperature control
⦁ walls that do not form the unit’s boundaries, and any windows and doors located in those walls
⦁ cabinets and counter tops
⦁ non-chattel appliances
• Closets, storage installations and space dividers, other than ceilings and walls
• The provision of telecommunications and television technologies
• Acoustical Dampening
This can be a very confusing process and so we try to simplify it for the Boards by offering our expertise while maintaining the guidelines outlined by Service Alberta.
Who Can Do This?
BUILDER can provide a Standard Insurable Unit Description
BOARD can layout their Standard Insurable Unit Description
CONSULTANT can provide a Standard Insurable Unit Description
Reliance has been completing Interior Unit descriptions in our reports for 20 years.
The key factor that you should always keep in mind is to describe a standard finish that best applies to ALL the units otherwise it could be considered a betterment if it does not reflect the standard unit interior finish(s).
The corporation should set out one class for the purpose of defining what constitutes the standard interior unit finishes. If there is any consideration of applying more than one class, this should be discussed with Reliance.
Typically an SIUD is one class and an additional class is only under circumstances where the developer changed during construction, the units are vastly different in finishes/ bathroom count etc. It doesn’t necessarily apply to different layouts per se if the finishes are the same.
⦁ Bareland vs. Conventional Condominium
⦁ Applying a Dollar Value
⦁ Age Versus Materials
⦁ Description of Components
⦁ Location of Components
Upon approval of an SIUD quote, we typically compile the document and send it to the board. The board reviews and makes any revisions and then we make those changes and send back to the Board for final approval. Once the SIUD is approved by the Board we finalize it and provide a Land Titles ready cover letter to either be registered as a standalone document by:
A Board Resolution until it can be passed at the AGM as an Ordinary Resolution (50%) OR Approval of an owner’s Special Resolution (75%) for inclusion/ amendment to the bylaws.
Then the SIUD can be registered at the Land Titles Office.
To obtain a quote or more information for a Standard Insurable Unit Description (SIUD) please email firstname.lastname@example.org