Condo Status Certificate in Ontario: A Buyer's Checklist of What to Look For

When you buy a resale condominium in Ontario, you are buying two things at once: your unit, and a share of a corporation that owns and maintains everything else. The status certificate is the document that tells you how healthy that corporation is. Buyers who skip it, or skim it, sometimes discover a special assessment, a lawsuit or a rule that bans their dog only after closing. This checklist explains what the certificate is, what it costs, how long it takes and which parts deserve the closest reading.

What a status certificate is

A status certificate is issued by the condominium corporation under section 76 of the Condominium Act, 1998, using a mandatory form (Condominium Authority of Ontario, accessed October 2026). It reports the financial and legal position of the corporation and the specific unit as of a certain date, and it comes with attachments such as the declaration, by-laws, rules, the current budget, the most recent audited financial statements and the reserve fund study summary.

Anyone can request one. The corporation may charge up to $100 including all applicable taxes, and it must provide the certificate within 10 days of receiving the request and payment (Condominium Authority of Ontario, accessed October 2026). Because of that 10-day window, resale offers commonly include a status certificate review condition of a few business days after receipt, so your lawyer has time to read it.

The checklist: what to read and why

1. Arrears on the unit

The certificate states whether the current owner owes common expenses. Unpaid amounts can become a lien on the unit, so your lawyer will want them cleared on or before closing.

2. Fee increases already approved

Look for a statement that the board has approved an increase in common expenses since the budget was prepared. A fee that is about to rise changes your monthly carrying cost and your mortgage qualification.

3. Special assessments

The certificate must disclose any special assessment that has been levied. Ask who pays an assessment that is approved but not yet due on closing day; the agreement of purchase and sale should address it.

4. Reserve fund balance and study

The reserve fund pays for major repairs such as roofs, elevators, garage membranes and windows. Corporations must complete a comprehensive reserve fund study within a year of registration and then update it at least every three years (Condominium Authority of Ontario, accessed October 2026). Compare the current balance and planned contributions with the expenditures forecast in the study. A fund that relies on steep future increases is a signal to ask questions.

5. Legal actions

The certificate lists lawsuits the corporation is part of. A claim against a builder over construction defects may be positive in the long run but can lead to costs in the meantime; a claim against the corporation may affect the budget.

6. Insurance

Check the corporation's insurance summary and the deductible. Many corporations pass the deductible to the owner whose unit caused the damage, which can affect how much unit-owner insurance you need.

7. Rules that affect how you live

Read the declaration, by-laws and rules for pets, short-term rentals, leasing restrictions, renovations, flooring, barbecues and parking. If you plan to rent the unit out or work from home, confirm the documents allow it.

8. Parking, lockers and exclusive-use areas

Make sure the parking space and locker you think you are buying are actually part of the unit or assigned to it, and that the certificate matches the listing.

9. Budget and management

Look at the operating budget for line items that seem low compared with similar buildings, and note who the property manager is and whether there are any outstanding orders or notices from the city or fire department.

Timing your offer

In a quieter market you can usually include a status certificate condition. When there are competing offers, some buyers ask the listing brokerage whether the certificate has already been ordered so it can be reviewed before offer night. Either way, have a real estate lawyer read it; a salesperson can point out obvious items, but interpreting legal and financial risk is your lawyer's job. If you are deciding between condo and freehold in the first place, our post on condo vs freehold in the GTA may help, and our guide to closing costs for Ontario buyers covers the other numbers you will see on closing.

Pre-construction is different

For a brand-new condo bought from a developer, the corporation may not exist yet, so there is no status certificate at signing. Instead, the developer provides a disclosure statement and you have a statutory cooling-off period. The status certificate matters again later, when you resell or if you buy on assignment.

Questions to ask beyond the certificate

The certificate is a snapshot. A few follow-up questions, asked through your agent or lawyer, can fill in the picture:

• Has the board discussed any upcoming major projects, such as garage repairs, window replacement or elevator modernization, that are not yet in the budget?
• When was the last reserve fund study completed, and is the next update due soon?
• Are there recurring issues such as water leaks, noise complaints or security problems recorded in recent board minutes or owner notices?
• How many units are rented, and are there any rules limiting short-term rentals?
• Is the corporation managed by a licensed condominium manager? The Condominium Management Regulatory Authority of Ontario licenses managers, and you can look one up on its public register.

None of these answers predicts the future, but together they help you judge whether the monthly fee you see today is realistic.

Finally, remember that the certificate speaks as of a specific date. If closing is months away, ask your lawyer whether an updated certificate is needed closer to closing.

Frequently asked questions

How much does a condo status certificate cost in Ontario?

A condominium corporation can charge up to $100 including all applicable taxes, according to the Condominium Authority of Ontario.

How long does a condo corporation have to provide a status certificate?

It must provide the certificate within 10 days of receiving the request and payment.

Who should review the status certificate?

Your real estate lawyer should review it, ideally within a status certificate condition in your offer.

What are the biggest red flags in a status certificate?

Common concerns include unpaid arrears, an approved fee increase, special assessments, a weak reserve fund compared with its study, significant lawsuits and rules that conflict with how you plan to use the unit.

General information only, not legal, tax or financial advice. Figures were checked against the sources linked above in October 2026 and can change; confirm your own numbers with your real estate lawyer, accountant or lender before you sign anything.

Farshad Fazaeli, Salesperson, International Realty Firm, Inc., Brokerage, 647-667-5555 · Richmond Hill, ON