Frequently Asked Questions for Condominium Managers
1. What are condominium management services?
The Real Estate Act will define condominium management services as performing or attempting to perform duties on behalf of a condominium corporation, such as collecting, holding or disbursing contributions, enforcing rules and bylaws, negotiating and entering contracts, and supervising employees or contractors hired by the condominium corporation.
2. What is a condominium manager?
The Real Estate Act will define a condominium manager as a person who represents themselves as a condominium manager or who provides condominium management services to a condominium corporation, either alone or as part of a team, for compensation.
3. What will the licensing eligibility requirements be?
Once the legislation takes effect, licensed condominium managers will need to:
- be at least 18-years–old
- have a Canadian high school diploma or an assessed foreign equivalent
- meet English language proficiency requirements
- hold either Canadian Citizenship, a Permanent Resident Card or Work Permit
- submit a Certified Criminal Record Check along with their licence and registration application form.
4. Will I have to take courses to become licensed?
Yes. RECA will be taking past experience and current licensing into account when setting education and exam requirements.
5. What will the licensing fees be?
RECA has not set licensing fees yet, but they will align with other industry sector fees. For information about licensing and related fees click here.
6. Will there be any licensing exemptions?
RECA will not license or regulate self-managed condominium corporations or condominium corporation employees, accountants or other parties exempt according to the Real Estate Act regulations.
7. Will my condominium manager licence be combined with my licence in another sector of the industry, such as real estate?
No. Condominium management will have its own education and exam requirements. The licence is separate from other sectors and it will have a separate fee.
8. How will condominium managers protect corporation funds?
This is not decided yet. It could be through bonding, the Real Estate Assurance Fund or both. Right now, condominium managers and corporations protect operating and reserve funds through bonding. The Real Estate Assurance Fund is a fund established under the Real Estate Act. RECA will assess its experience with condominium managers to decide whether bonding or the Real Estate Assurance Fund is more appropriate, and to set the rules for condominium managers’ participation in the fund. If condominium managers participate in the fund, their rules for it may differ from the rules for other industry professionals.