Advocate Daily Post
Ontario’s consumer services minister says the growth of condominiums in the province means changes are needed, including qualifications for condo managers.
Tracy MacCharles says while the condo industry has boomed in recent years, managers currently aren’t required to have any training, despite handling massive operating budgets worth millions of dollars.
She says 10 per cent of Ontario residents live in a condo, adding today’s condominiums are complex operations that require a high level of competence to run.
So the province has given a green light to bring in mandatory qualifications for condo managers in the first of several expected changes to come out of its Condominium Act Review.
MacCharles says a group of condo owners, residents and industry experts will look at what mandatory qualifications for condo managers should be.
They will also decide how to set up an independent, regulatory authority to oversee licensing and standards.
The group is to give its report to government by the end of the summer.
There is an overwhelming consensus that condominium managers be qualified to carry out their significant responsibilities, MacCharles said Thursday.
One in 10 people in Ontario live in a condominium and their quality of life depends to a great degree on qualified, well-trained condominium managers.
In an interview with AdvocateDaily.com, Toronto real estate lawyer Lorne Shapiro says the mandatory qualifications represent a highly positive and long overdue move by the province.
Although the vast majority of condominium managers are experienced and knowledgeable, as with any emerging or rapidly changing industry, there will always be some players who do not fully comprehend their responsibilities, says Shapiro, partner with Basman Smith LLP.