Condominium corporations have a complex regulatory framework. This helps ensure effective governance and financial stability while protecting unit owners. A detailed compliance checklist can help ensure all requirements are met properly and streamline compliance processes.
Governing Documents Review
- Conduct a comprehensive review of the condominium corporation's governing documents including the Declaration, Bylaws, and other formal rules, upon establishment of the condominium corporation and periodically afterwards to ensure documents align with evolving needs and regulatory changes.
- Implement systems to ensure periodic reviews to stay abreast of changes in provincial condominium legislation and conduct reviews as required for ongoing compliance.
Financial Management
- Review financial statements monthly for ongoing financial management and annually for presentation at the AGM, ensuring accuracy and transparency in reporting.
- Conduct reserve fund studies as required by provincial legislation, at a minimum, to assess the adequacy of reserve fund contributions and plan for future expenses. Additional studies are recommended if there is unexpected damage or circumstances change, to ensure predictions are still accurate.
- Collect reserve fund contributions monthly or according to the schedule established in the corporation's reserve fund study and financial planning.
Reserve Fund Management
- Conduct reserve fund studies, as required by provincial legislation, to assess the adequacy of reserve fund contributions and plan for future expenses.
- In Ontario, an initial comprehensive reserve fund study (Class 1) is required within the first year of a condominium building being registered, whenever major repairs or replacements are completed, or if there are concerns about the initial study.
- Afterwards, either a Class 2 or 3 study must be conducted every three years for updates. Class 2 studies entail on-site visits, while Class 3 studies do not. These studies alternate every three years, ensuring both types are completed over time.
- Review reserve fund contributions annually, adjusting them as necessary based on the results of reserve fund studies and changes in anticipated repair and replacement costs, to ensure continued, adequate funding.
- Provide unit owners with transparent information about reserve fund balances, planned expenditures, and funding decisions, through AGMs and other communications.
Meetings and Record-Keeping
- Hold Annual General Meetings, within timeframes specified in provincial legislation, to provide unit owners with opportunities to participate in decision-making processes.
- Maintain comprehensive records of meeting minutes, financial statements, correspondence, and other relevant documents, updating them regularly and ensuring accessibility to unit owners at all times.
Insurance Compliance
- Review insurance policies annually, before renewing, to ensure adequacy of coverage and compliance with legal requirements.
- Provide unit owners with clear and timely information about insurance coverage, including any changes in coverage or limitations that may affect individual unit insurance needs.
Property Maintenance and Repairs
- Conduct weekly or bi-weekly inspections of common areas and building systems to identify maintenance and repair needs promptly.
- Conduct inspections after extreme weather or other events to determine and assess the extent of potential damage; contracting a professional inspection agency is recommended to ensure both visible and non-visible concerns are addressed.
- Develop and implement a comprehensive maintenance plan, reviewed and updated annually, to address routine upkeep and prioritize long-term capital projects.
- Complete annual formal assessments. Engage qualified professionals, such as engineers and building inspectors, to assess building systems and structural integrity, identifying any deficiencies and recommending corrective actions.
Building Safety and Due Diligence
- Perform ongoing due diligence in maintaining building safety and compliance with relevant codes and regulations, including regular inspections of fire safety equipment and emergency exits.
- Under Ontario’s Fire Code, inspection and servicing of fire extinguishing systems need to be inspected and serviced at least every six months by properly trained and qualified persons.
- Engage qualified professionals to conduct annual assessments of building systems and safety features, identifying any deficiencies and recommending corrective actions. This helps provide evidence of fulfilling appropriate due diligence requirements.
- Develop and implement emergency response plans, including procedures for evacuations, fire drills, and communication with residents during emergencies, reviewed and updated annually or whenever there are significant changes to buildings or systems. Conduct drills as required, or when emergency procedures change.
Compliance with Human Rights and Accessibility Standards
- Ensure ongoing compliance with human rights legislation, including provisions related to accommodation and non-discrimination, through regular policy reviews.
- Conduct annual accessibility assessments to identify and address any barriers to accessibility.
Dispute Resolution
- Establish a fair and transparent dispute resolution process, including mediation or arbitration options as prescribed by provincial legislation.
- If disputes arise, address them promptly and impartially, adhering to established timelines for response and resolution to minimize escalation and maintain positive relationships.
Environmental Compliance
- Comply with environmental regulations governing waste management, energy efficiency, and pollution prevention through ongoing monitoring and implementation of sustainable practices.
- Implement energy conservation measures, waste reduction initiatives, and other sustainable practices, consistently and on a continuous basis, supported by regular assessments and adjustments to improve environmental performance over time.
Occupancy Standards
- Enforce occupancy standards outlined in the condominium corporation's bylaws through regular monitoring and enforcement actions.
- Screen tenants to ensure compliance with occupancy rules, conducting background checks and reference verifications as part of the leasing process.
Communication and Transparency
- Communicate regularly with unit owners through newsletters, emails, community meetings, and other channels to keep them informed about important issues affecting the condominium corporation, maintaining open lines of communication and accessibility to address concerns and inquiries.
- Ensure transparency by sharing relevant information, including financial reports, meeting minutes, and policy updates, with stakeholders in a timely and accessible manner, ensuring transparency in decision-making processes and promoting trust and accountability within the community.
ABSI offers a range of engineering consulting services that help condominium corporations meet their legislative needs. Our team of expert engineers conducts thorough building inspections and assessments, and offers building envelope consulting. Additionally, we provide underground parking lot rehabilitation services for any condo parking facilities.
We also perform accurate, reliable, and comprehensive reserve fund studies. Our goal is to equip your condominium corporation with detailed, actionable reports that facilitate informed decision-making, cost savings, and compliance fulfillment.
Naji Hassan, a renowned professional in Building Science and Engineering, brings a wealth of knowledge and experience to his field. Educated at Beirut Arab University and Harvard Business School Online, Hassan has honed his expertise in structural and municipal engineering, building science, and business management. As the President of Accent Building Sciences and an experienced Senior Project Manager, he has made significant strides in building envelope engineering, building condition assessments, and energy retrofit programs. His commitment to innovation and excellence is evident in his approach to large-scale project management and his active participation in industry organizations. Hassan is not only a leader in his field but also a prolific writer and thought leader. He regularly shares his insights and experiences through articles on LinkedIn, which can be found at LinkedIn Articles. Additionally, he maintains a blog where he delves deeper into various aspects of building science, accessible at Accent Building Sciences Blog. Outside of his professional pursuits, Hassan enjoys travel, golf, languages, gardening, and music, reflecting his diverse interests and well-rounded character. Naji Hassan's journey in building science and engineering is not just a career but a testament to his lifelong dedication to learning, teaching, and inspiring others in his field.
