Condo Managers: Licence Application Details Now Available!
As you probably know, the Condominium Management Regulatory Authority of Ontario (CMRAO) is set to start regulating condominium managers and management companies on November 1, 2017. The first phase will be the licensing of managers. The second phase will be the regulation of managers in February of 2018. From the information available so far, the regulation will be similar to other professionals in that there will be a complaints process that includes possible discipline if a manager has acted improperly in carrying out his or her duties. The details on the regulation of managers will be saved for another post; today's post will focus on the licensing. Who must apply? All individuals and companies providing condominium management services, which includes:
- Collecting or holding contributions to the common expenses or other amounts levied by, or payable to, the corporation; or
- Exercising delegated powers and duties of the corporation or its board of directors, including: making payments to third parties on behalf of the corporation; negotiating or entering into contracts on behalf of the corporation, or supervising employees or contractors hired or engaged by the corporation.