Condo operations

Condo corporations can terminate or amalgamate as long as they meet certain criteria defined under the Condo Act. Corporations should seek legal advice if they are looking to do so. In either case, the corporation would need to inform the CAO through answering the mandatory questions when filing a notice of change.

Condo boards are responsible for the day-to-day operations of their corporation, including overseeing its finances. The CAO’s Best Practices Guide: Finance helps directors with budgeting, financial statements, reserve funds and more.

Condo corporations are responsible for the safety of all residents, visitors and employees. They must adhere to the Ontario Fire Code which requires all occupied buildings to have appropriate fire protection equipment, be properly maintained and have up-to-date fire emergency plans which are routinely circulated to residents and shared with fire departments and emergency medical services upon their arrival. Boards should work with an expert to develop a fire safety policy and plan.

Condo managers or board directors will need to fill out forms, such as meeting notices, records, proxy forms, etc., for various condo operations. The CAO has consolidated most frequently used forms in one location for easy access.

Information certificates are condominium records that owners and others can use to review important information about their condo corporation. There are three types of information certificates: periodic, update and new owner. Each has its own mandatory form.

New owner information certificates must be sent to new owners within 30 days of providing the condo corporation written notice stating their name and the unit that they own.

Condo boards must issue periodic information certificates to all owners twice each fiscal year within 60 days of the end of the first and third quarters. These certificates include information about the condo board, finances, insurance, reserve fund, legal proceedings and more.

Condo managers or boards may need to engage outside contractors from time to time for specific projects. Our best practice guide on procurement provides detailed information on how to go about this.