Condo Owners Association COA

Displaying items by tag: property management license

 Ministry of Government and Consumer Services

 Announces Mandatory Qualifications for Condominium Managers

 

The Ontario government has announced mandatory qualifications and licensing for Condominium Managers and Management firms.  Many condominium owners and residents may be more familiar with the terminology "property managers" and "property management office" in their condominium complex.   These managers are not mandated to have training or an understanding of the Provincial Condo Act, condo declarations, rules and regulations of a condo, by-law and or other important information relating to the finances, building maintenance, operations etc. of a condo corporation.  COA is thrilled to see changes however condominium managers and management companies need to have a government licensing structure.  See COA in Wikipedia

    

Facts on the contracted Property Management Services 

COA receives numerous questions about the role of Property Management and Property Managers

  1. Board of Directors for the Condo Corporation calls a Property Management Firm to obtain a quote for Property Management services.
  2. Property Management Firm provides a quote to include Managing the building and possibly handling the accounting for Accounts Payable, Receivable and Reserve Fund
  3. If the Property Management Firm is successful in securing the contract, they then provide an employee to the building who is called the Property Manager
  4. All Liabilities of the Property Management contract are with the Property Management Firm and the Condo Corporation
  5. The Property Management Firm assigns a Property Manager to the Condo Building and that Property Manager takes direction from the Property Management Firm and also has to abide by the requests of the Board of Directors to make sure they don't jeopardize the Property Management Firm contract
  6. If work order quotes are required many Property Managers ask their Property Management Firms for guidance and/or recommendations.
  7. Our Provincial Government has mandated licensing for both Property Managers and Management companies  See CMRAO Licensing

 

Published in COA Reports on Review