Upholding Condominium Records Management Standards

In a move toward enhancing transparency and accountability within the condominium management in 2023, the Condominium Management Regulatory Authority of Ontario (CMRAO) introduced proactive standardized inspections focusing on critical areas like records management and owners' meetings. While regulatory action remains an option, the primary focus is to review and improve licensee business practices in alignment with governing legislation. These inspections are detailed in the CMRAO’s Inspections Program.

As part of this process, inspectors engage condominium management providers in interviews, requesting the retrieval of key records maintained for their clients. This gives providers an opportunity to showcase the software they employ for efficient record management, while presenting several sample records during the inspection.

Examples of the types of records the CMRAO will ask the condominium management provider to present during an inspection include:

• By-laws, rules and amendments
• Monthly financial statements and approved budgets
• Building operations records
• Signed service contracts
• Copies of current or expired insurance policies

As part of the inspection, for each type of record the condominium management provider also has to describe:

1. the methods used to protect against unauthorized access,
2. how files are backed-up and protected against loss or damage, and
3. list the people and/or positions who have access to the records.  

Managers using software solutions tailored to the condominium industry that allow them to easily categorize, save and share records will be well positioned to successfully pass the CMRAO’s records management inspection.

We encourage you to read the CMRAO’s Inspection Guide to Records Management for a more comprehensive understanding.