Verified November 3, 2026 by Local Toronto Editorial
Short answer: A status certificate is a package from an Ontario condo corporation that shows the unit’s monthly fees, whether the unit owes anything, the state of the reserve fund, any special assessments, insurance, lawsuits and the building’s rules. The Condominium Authority of Ontario (CAO) says anyone can request one, the corporation can charge up to $100 including taxes, and it must provide it within 10 days. Many resale buyers make their offer conditional on a lawyer reviewing it. Read it for five things above all: fee increases, the reserve fund against its study, special assessments, litigation and insurance deductibles, and rules that affect how you plan to use the unit.
What a status certificate is
When you buy a resale condo in Ontario, you are buying a unit plus a share of a corporation that owns and runs the common elements: the roof, hallways, garage, elevators, pipes and grounds. The status certificate is how you see inside that corporation before you commit.
The CAO describes it this way: “Status Certificates contain a copy of the condo corporation’s governing docs, info on the state of the reserve fund, whether the unit is in arrears of condo fees and more.” Its required contents are set out in section 76 of the Condominium Act, 1998.
Two limits are worth knowing. A status certificate is a snapshot on the date it is issued. And as Laura Gurr of Cohen Highley LLP wrote in a 2022 primer for real estate lawyers, it “can only be relied on by the person that requests the status certificate and is only accurate as of the date that it is issued.” A certificate the seller ordered months ago is a starting point, not a substitute for a fresh one.
How to get one: cost, timing and who asks
| Question | Answer | Source |
|---|---|---|
| Who can request it? | “Anyone can request a status certificate.” In practice the buyer’s lawyer or agent, or the seller, orders it from the property manager. | CAO |
| What does it cost? | “Corporations can charge up to $100 including all applicable taxes.” Some management companies offer a faster option for an extra fee; the standard certificate stays at the cap. | CAO; O. Reg. 48/01 s.18(4) |
| How long does it take? | The corporation “must provide them within 10 days.” Management companies describe the clock as starting once both the request and payment are received. | CAO; FirstService Residential |
| Has the fee changed? | No. The cap has been $100 since 2001. In 2025 the Association of Condominium Managers of Ontario asked the province to raise it to $500. We found no sign that request was adopted. | REMI Network, May 2025 |
Because the corporation can take up to 10 days, a conditional period that is too short can be a problem. Ask your agent to check whether a current certificate already exists before you set the condition date.
What is inside the package
The CAO lists what a status certificate may contain. The certificate itself is usually a few pages, and the attachments run much longer.
| Item | Why it matters to a buyer |
|---|---|
| Declaration, by-laws and rules | Sets your share of common expenses, which parking and locker units or exclusive-use areas come with the unit, and the rules on pets, leasing, renovations and noise. |
| Current budget, last audited financial statements and auditor’s report | Shows whether the corporation runs a deficit, how much goes to the reserve fund, and whether the auditor flagged anything. |
| Statement on the latest reserve fund study and the state of the reserve fund | Tells you whether the fund is on track with the engineer’s plan for big repairs. |
| The unit’s common expenses and any arrears | Confirms the monthly fee and whether the seller owes money that must be paid on closing. |
| Any increase in common expenses and the reason | An increase already known to the board should be disclosed here. |
| Special assessments charged to the unit since the current budget, and why | A one-time charge on top of monthly fees. Ask who pays any balance due after closing. |
| Names and addresses for service of directors and officers | Board vacancies can point to governance problems. |
| Certificate of insurance for current policies | Shows coverage and the deductibles that could be passed to an owner. |
| Outstanding judgments or ongoing litigation | Legal costs and damages can lead to higher fees or a special assessment. |
What to look for: the red flags
Lawyers and property managers who write about status certificates tend to flag the same issues. These are the ones to raise with your lawyer.
- Fee increases already planned. FirstService Residential’s checklist starts with this: “Check the current monthly amount and whether an increase is already expected.” A modest fee is not good news if a large increase is coming.
- Fees that look too low. Gurr notes that “Low condo fees can be a sign that the corporation is not saving enough for the future.” Compare the reserve contribution in the budget with the funding plan in the study.
- Special assessments. Look for charges approved or under discussion. REMI Network’s 2025 guide notes that “rising fees or a history of special assessments might suggest upcoming major projects or financial instability.”
- Litigation. Gurr warns that “The corporation’s own legal costs may exceed the budgeted amount and result in special assessments or increases in monthly fees.” Ask what the claim is about and whether insurance covers it.
- Insurance deductibles. In 2022 Gurr wrote that “It is not uncommon to see deductibles of $50,000 or more for certain types of claims.” Check what the declaration or by-laws say about passing a deductible to the owner of the unit where damage started, and tell your insurance broker the figure.
- Arrears in the building. High arrears among other owners can strain the corporation’s cash flow.
- Rules that clash with your plans. Gurr points out that “Restrictions on leasing, pets, operation of home businesses and noises can all found in the declaration and rules.” If you plan to rent the unit, also check the city’s own rules, such as Toronto’s short-term rental registration rules.
- Parking and lockers. REMI Network says the unit section covers “additional components like parking spaces or storage lockers.” Confirm whether each one is a separately owned unit or an exclusive-use common element, and that it matches the listing.
- Unauthorized changes to the unit. Gurr notes a buyer may have to remove alterations the board never approved, or sign an agreement to keep them.
- Board and management changes. Board vacancies and a recent change of management company are both mentioned as warning signs. Neither is fatal, but ask why.
Ask for more than the certificate when you can. REMI Network suggests reviewing 12 to 24 months of board meeting minutes and the full reserve fund study, which often say more about upcoming projects than the summary does.
Reading the reserve fund section
The CAO defines a reserve fund as “an account that condominium corporations maintain solely for major repairs and replacements of common elements and assets.” The rules behind it give you a few things to check:
- Study dates. A comprehensive (Class 1) study is done in the first year after the corporation is registered. After that, updated studies with and without a site inspection alternate, done “at least every three years,” according to the CAO. A study well past that cycle is a question to ask.
- A 30-year plan. The financial analysis must include “a recommended funding plan projected over a period of at least 30 consecutive years.”
- Is the board following the plan? Boards must review a study within 120 days and propose a funding plan, then send owners a Notice of Future Funding within 15 days. The CAO says the plan “may require that boards increase contributions to the fund.” The notice must say where the board’s plan differs from the study. Differences are where future increases or special assessments often come from.
- Big items coming up. Roofs, garage membranes, windows, elevators and mechanical systems are costly. If the study shows several due soon and the fund balance is thin, expect higher fees.
For how fees are set and why they rise, see our guide to condo fees explained. If you are weighing a condo townhouse against a freehold one with a common element fee, our POTL fees guide explains the difference.
Fee increase and special assessment calculator
What could the certificate’s numbers cost you?
Enter figures from the status certificate and declaration. The starting values are example inputs only, not typical fees or assessments.
How the example works: a $650 monthly fee is $7,800 in year one. Rising 5% a year, the fee becomes $682.50, then $716.63, $752.46 and $790.08 by year five. Five years of fees add up to about $43,100 with the increases, versus $39,000 with none, so the increases cost about $4,100. A $500,000 special assessment split by a 0.5% share of common expenses is $2,500 for your unit ($500,000 times 0.005). Special assessments are usually shared in the same proportions as common expenses, but check your declaration. All of these are example figures.
Status certificates and your offer
Many resale condo offers in Ontario include a condition that the buyer’s lawyer reviews and approves the status certificate within a set number of days. With the corporation allowed 10 days, check whether a current certificate already exists before you choose the condition date. In a competitive situation, some buyers ask the seller for a recent certificate and have it reviewed before they make an offer.
- Ask for it early. If the listing agent already has a certificate, ask for a copy and its date.
- Budget for the review. Some lawyers charge for reviewing a status certificate separately from the closing. Ask for a written quote.
- Read it yourself too. Your lawyer checks the legal points. You know your plans: a pet, a home office, renting the unit later, a second car.
- Ask about anything pending. A special assessment the board is still discussing may not show as charged to the unit yet. Ask your lawyer to raise it with management and in the agreement.
The certificate also shows the monthly fee lenders will count. Our guide to how much cash you need to close covers the other costs to plan for on closing day.
This guide is general information, not legal or financial advice. Have a real estate lawyer review the status certificate and the full package before you waive any condition.
Looking at condos in the GTA? We can help you request the status certificate early and plan a condition period that works. Start on our buy a home page, or get a free home evaluation if you are selling a condo first.
Common questions
How much does a status certificate cost in Ontario?
The Condominium Authority of Ontario says corporations can charge up to $100 including all applicable taxes. Some management companies offer a faster service for an extra fee, but the standard certificate is capped at $100.
How long does it take to get a status certificate?
The condo corporation must provide it within 10 days. Management companies say the 10 days start when they have both the request and the payment, so build that time into your conditional period.
Who should order the status certificate, the buyer or the seller?
Anyone can request one. A certificate can only be relied on by the person who requested it and only as of its date, so a buyer’s lawyer often orders a fresh one or reviews a recent one the seller provides.
What are the biggest red flags in a status certificate?
Planned fee increases, a reserve fund short of its study’s plan, special assessments charged or proposed, lawsuits against the corporation, high insurance deductibles that can be passed to owners, high arrears, and rules on pets, leasing or renovations that do not fit your plans.
Does a status certificate show future special assessments?
It must show special assessments charged to the unit since the current budget and the reason. One that the board is only discussing may not appear, so ask for recent board minutes and the full reserve fund study, and have your lawyer ask management directly.
How often must a condo update its reserve fund study?
The CAO says a comprehensive study is done in the first year after registration, then updated studies with and without a site inspection alternate at least every three years. Each study must include a funding plan of at least 30 years.
Sources
- Condominium Authority of Ontario, Status certificates (modified August 12, 2026).
- Condominium Authority of Ontario, Reserve funds (modified June 19, 2026).
- Government of Ontario, Condominium Act, 1998 (section 76) and O. Reg. 48/01.
- FirstService Residential, What is a status certificate in Ontario? (September 2026).
- Laura Gurr, Cohen Highley LLP, Ten (plus one) red flags in status certificates: Primer for real estate lawyers, Law360 Canada (September 27, 2022).
- Thomas Beattie, Status certificates 101, REMI Network (May 21, 2025).
- Nihang Law, Status Certificates in Ontario: What Every Condo Buyer Should Check (September 21, 2026).
Images: AI-generated illustrations created for this guide. They do not show real properties.
Local Toronto, HomeLife Landmark Realty Inc., Brokerage.