Types of Documents in a Condominium Setting
Condominium corporations must maintain a variety of documents related to governance, financials, and operations.
The Corporation’s Bylaws – The most recent version of the condominium corporation’s bylaws.
The Corporation’s Rules – Any rules that have been adopted by the corporation under the bylaws.
The Budget – The condominium corporation’s most recent annual budget.
Financial Statements – The financial statements of the corporation, including the balance sheet and income statement.
The Reserve Fund Study & Plan – The most up-to-date reserve fund study and the corresponding reserve fund plan.
The Insurance Certificate – A copy of the corporation’s insurance certificate.
The Standard Insurable Unit Description (SIUD) – If applicable, a copy of the SIUD, which outlines the standard insurable components of the units.
Any Professional Reports – A condominium corporation must provide copies of professional reports related to the condominium provided by an accountant, engineer, or lawyer.
The Minutes of General Meetings – Copies of the minutes from any annual general meetings (AGMs) or special general meetings (SGMs).
The Minutes of Board Meetings – Copies of the minutes from board meetings.
The Corporation’s Lease, Exclusive Use, or Recreational Agreements – Any leases, licenses, or exclusive use agreements that affect common property.
The Management Agreement – If a condominium manager is employed, a copy of the management agreement must be provided.
Details of Any Legal Proceedings – Details on any ongoing legal actions involving the condominium corporation, judgments against the corporation, or written demands exceeding $5,000 that may result in legal action.
Details of Any Loans – A summary of any outstanding debts or financial obligations of the corporation.
Details of Any Post Tensioned Cables or Structural Deficiencies – If the building has post tensioned cables or structural deficiencies, the details must be disclosed on request.
Who Has the Right to Access These Documents?
The Condominium Property Act and Condominium Property Regulation outline who is entitled to request certain condominium records.
Unit Owners
Have a right to access: Bylaws, financial statements, board meeting minutes, insurance policies, and reserve fund studies.
May request documents: Requests must be made in writing, and fees may apply for copies.
Mortgagees (Lenders)
Have the same rights as unit owners when requesting documents related to financial health and legal standing of the corporation.
Must prove their mortgage interest in the unit before accessing records.
Board Members
Have full access to all condominium documents.
Responsible for ensuring document requests comply with legal requirements.
Service Providers & Third Parties
Must have written authorization from a unit owner or board to access records.
Examples: Real estate agents, legal representatives, auditors, and contractors requesting documents on behalf of owners or corporations.
Process for Licensees to Obtain Documents
Requesting Records Through the Condominium Manager
Licensees (condominium managers) are often responsible for handling document requests and must follow proper procedures. Steps include:
Verify Requestor Eligibility – Confirm that the requester has a right to access the records.
Confirm the Request is in Writing – Requests must be documented to ensure compliance.
Determine Applicable Fees – Condominium corporations may charge reasonable fees for copies of records.
Respond Within Legal Timeframes – The corporation must provide the requested documents within the required timeframe under the Condominium Property Act.
When Third-Party Authorization is Required
If a third party (e.g., real estate agent, lawyer) requests documents, they must provide:
Written authorization from the unit owner or board.
Proof of mortgage interest if requesting financial or legal records.
The Condominium Property Act states that records must be made available upon request to those with a legal right to access them, provided the appropriate authorization is obtained.
Best Practices for Document Request Compliance
Maintaining Accurate Recordkeeping
Ensure all required records are up to date and easily accessible.
Use secure storage methods (digital or physical) to protect sensitive information.
Responding to Requests Efficiently
Acknowledge requests in writing and confirm expected response times.
Charge only reasonable fees for copies of documents as allowed by law.
Privacy Considerations
Ensure confidential information is not disclosed to unauthorized parties.
Follow PIPA (Personal Information Protection Act) guidelines for handling personal data.
Activity: Role-Playing a Document Request Scenario
Scenario:
A real estate agent contacts the condominium manager requesting financial statements and board meeting minutes for a unit owner’s property. The agent does not provide written authorization.
Instructions:
Determine whether the agent has a legal right to the requested documents.
Identify the necessary steps the condominium manager should take to process the request properly.
Decide whether the request should be approved or denied, and explain why.
