Not this time
For once, the media seems to have not become all that excited about a real estate turn of events.  Certainly, there's been little in the way of journalistic comment -- negative or positive -- about the  Ontario Fire Marshal's announcement about new minimum smoke alarm requirements.  Making the public aware of what has now been proclaimed as being mandatory appears to have been left to our local Fire Chiefs to issue occasional press releases or to perhaps talk a local reporter into an interview (which makes something of a switch, doesn't it?).
Anyway, whether we like it or not, we're now being told that a smoke alarm must be present in every level of our detached or semi-detached homes as well as all townhouses.  Moreover, our failure to ensure this degree of protection against fire outbreaks can invite fines starting at $235 and going all the way up to $25,000.
Not the stuff of headlines perhaps, but important enough for all of us to take note of the facts.
 
It's the Law!
The ruling took effect from March 1 and goes beyond the longstanding idea that there ought to simply be a smoke alarm installed in the hallway outside our bedrooms.  Instead, an alarm is now required in each level of our homes -- and this includes the basement, whether it's unfinished and unoccupied or not.  (After all, that's where the furnace is, isn't it?)  Moreover, it's recommended that one be installed in any bedroom where people keep the door closed while they're sleeping.
No big deal, really.  And it makes sense when we realize that many fires break out during the night.
In any case, there isn't much reason to worry about the cost involved or the small amount of time and work it takes to bring your house up to the new code.  Battery operated alarms are available for less than ten dollars apiece and you need no more than a screwdriver and two or three minutes to install them.
If you want to get the official word for it all, you can start by going to http://www.ofm.gov.on.ca/english/default.asp and clicking on the Working Smoke Alarms: It's The Law link.  You can also learn more by reading the downloadable .pdf files.
(For some reason, the html versions of these backgrounder items won't turn up.  Maybe it's because we aren't among the officials and media people who are encouraged to read them!)
 
Some side effects
If we consider the repercussions strictly from a real estate point of view, however, it occurs to me that some additions of "small print" are likely to follow -- or perhaps ought to do so. What I have in mind is the following:

•    Listings will need to indicate whether smoke alarms exist or not.  So far, this information is only somewhat sporadically provided.  Even then, there's no mention of whether the numbers and locations are what they are now required to be.
•    The Seller Property Information Statement does include the question: "Is the property equipped with operational smoke detectors?"  However, a "yes" answer doesn't necessarily mean that there's compliance with the new code.
•    Schedule A in any residential offer will either have to include a request for a seller's warranty that the required number of smoke alarms exist or at least to expect the point to be covered by any home inspection, whether it's a condition of the offer or not.
•    A home inspection will need to check the number, location, and operability of what smoke alarms exist.  The ensuing report will need to deal with this issue.

These admittedly nitpicking points can imply the likelihood of some nickel and diming in negotiations.  However, I'm inclined to think otherwise.  If nothing else, a buyer deserves to be kept "free from harm" and this ought to include an assurance that the Fire Chief isn't going to slap a $235 fine (or greater) on the new owner.
Right?
Right!
 
Been there, done that
This upgrading of fire protection for residential properties is, in fact, no more than a sequel to the fairly stringent requirements that the Ontario Fire Marshal imposed a few years ago on the owners of apartment buildings.  The retrofitting was often far from being inexpensive at that time.
Nevertheless, multi-family buildings with five or fewer units were not affected by those regulations, although they now are, of course, subject to the March 1 ruling.  If, then, you're involved in selling or buying a 5plex or less, you are well advised to heed my cautionary notes -- I can imagine that it's you that the Fire officials have in view as a possible target for a $25,000 fine!
Worse still (I suppose) if you're involved in owning or acquiring a commercial property of any kind, I'm willing to think that you can very usefully -- and even ought to -- browse through the pages put together by he likes of Toronto's Fire Guy
 
All told, even though I seldom come up with a negative tone to my newsletters, I don't think I need to apologize for this exception.
On this occasion, I guess I simply feel impelled to say:  you have been warned!
 
With my customary best wishes to everyone notwithstanding