Which legislation governs condominium management practices in Ontario?

The correct answer is the Condominium Management Services Act, 2015. This legislation specifically governs the management of condominiums in Ontario by establishing regulations for condominium managers and management companies. It sets the standards for licensing condominium managers, ensuring they meet certain qualifications and adhere to professional conduct guidelines.

This Act is critical as it aims to protect the interests of condominium owners and residents by promoting ethical management practices within the sector. By requiring managers to be licensed, it enhances accountability and professionalism in condominium management, which is essential in a landscape where the number of condominiums continues to grow.

In contrast, the other options pertain to different aspects of property and tenancy law. The Condominium Manager Act, 2010 was replaced by the Condominium Management Services Act, 2015, making it outdated for current practices. The Ontario Property Management Act, while related to property management, does not specifically address the peculiarities of condominium management. Lastly, the Residential Tenancies Act focuses on rental properties and the rights of tenants and landlords, which is a separate framework not applicable to condominium management.