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CONDOMINIUM owner information

We hope that the below general information can assist you, the condominium owner, in answering some common questions related to your property ownership.

Please note that this information should NOT be deemed as legal information.  For assistance in acquiring legal information, please contact us.

Your Condominium Property Manager

  • As your condominium manager, our main responsibility is to serve you
  • Our other responsibilities to you, the board and the corporation are outlined HERE (may vary)

Condominium Owner  – Rights and Responsibilities

  • FACT: You must pay your monthly common fees and/or special assessments
    • How to pay my common element fees? Go HERE
  • FACT: You must maintain and repair your unit
  • FACT: You must follow the condo’s declaration, bylaws and rules
  • FACT: You must resolve disputes with the corporation and/or other owners
  • FACT: You have one vote as an owner
  • FACT: You can attend and vote at owners’ meetings, or vote by proxy
  • FACT: You can vote and elect board members
  • FACT: You can review corporation records
  • FACT: You can request a meeting of owners
  • FACT: You can be heard and add matters to a general meeting agenda of the AGM
  • FACT: You can vote to remove a director(s) from the board (with majority of votes)

Insurance Requirements for the Condominium Owner

  • FACT: Condominium Corporation has a master insurance policy
  • MYTH: Since the Corporation has insurance, I do not require it
  • FACT: Corporation’s insurance generally covers only common elements
  • FACT: My personal property and unit upgrades are NOT common elements
  • FACT: My personal property includes my possessions left in the car, bike racks, locker, etc.

Renting Your Condominium

  • FACT: You can rent your unit.
    • Prior to renting, consult your Declaration, Rules & Regulations for leasing rules and limitations, if any
  • FACT: You must provide the corporation with a completed and signed Summary of Lease (Form 5)
    • Form 5 can be obtained by clicking HERE
    • Please update form unit owner registry/resident information. Go HERE
    • Congratulations, you are now a landlord
  • FACT: As a landlord, you have a whole list of responsibilities toward your tenant
  • FACT: Your landlord and tenant relationship is governed by the RTA

Buying and Selling Condominiums

  • FACT: One of the most important aspects when purchasing or selling your condo is to be informed
  • FACT: You will have to pay HST on the RE commission and solicitor’s fees
  • SUGGESTION: Shop for a Real Estate Agent and negotiate the listing commission portion
    • See what is currently on the market in the area by going to MLS.ca (exterior link)
    • Condominium owner’s info – CMHC buyers_guide
    • Do not sign a listing agreement longer than three months; try for two.
  • SUGGESTION: Weeks prior to closing, ensure that your common element fees, realty taxes and utilities are paid up to date
  • SUGGESTION:Prior to listing your unit, request a Status Certificate for your unit. The Status Certificate will set you back $100
  • SUGGESTION: Shop for a Real Estate Lawyer who specializes in Real Estate transactions
    • Lawyer closing fees are generally lower when selling the property as there is less work associated
  • SUGGESTION: It may be helpful to stage the condominium. If you wish, you can actually do it yourself
    • make space and de-clutter
    • de-personalize
    • clean, clean, clean and clean; fix what is broken
    • paint or touch-up damaged walls
    • refresh your home; make sure it does not smell like dirty socks
    • light up your home by turning on the lights
    • try to leave the unit during showings
    • try to remove your pets during showings
    • look up other staging ideas on the internet

Pest Problems for the Condominium Owner

The best way to deal with pest problems it to inform the Property Manager immediately.  At times the Management may request that your unit be treated as part of a “Block Treatment” (all or most of the units surrounding the infested unit).  This is quite an effective way of alleviating the infestation and preventing pest infestation of your home.  For more information, click on Bed Bugs (exterior) link.

Condominium Owner Reserve Fund Study information page

Condominium Owner Information Links

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Condominium Ownership