Accurate, plain-English guides on every stage of buying or selling a condo in Ontario. Status certificates, reserve funds, pre-construction, maintenance fees and more.
Every guide is grounded in the Condominium Act 1998 and current Ontario practice. No filler, no sales pitch.
What each section means, which numbers matter, and the red flags your lawyer needs to catch before you waive your condition.
How reserve funds are structured under O.Reg 48/01, what underfunding looks like, and how boards levy special assessments.
Pre-approval through closing. The status certificate condition, offer strategy, lawyer review period, and what happens on closing day.
Pricing strategy, getting your status certificate ready, staging tips, and the timeline from listing to closing.
The 10-day cooling-off period, phantom rent formula, interim occupancy, and what the Tarion warranty covers.
How assignments work, developer consent requirements, why you can't list on MLS, and the HST implications since May 2022.
What fees cover, why they vary from $0.59 to $1.50+ per square foot, and how to compare buildings fairly.
What boards can and can't restrict. Service animals, short-term rentals, and how Toronto's Airbnb rules interact with condo declarations.
Ownership structure, cost comparison, maintenance responsibilities, and which type suits which buyer.
15-item checklist covering everything from status certificate review to building inspection and closing costs.
Direct answers to the questions buyers and sellers ask most, backed by the Condominium Act.
20+ terms defined clearly, from common elements and exclusive use areas to phantom rent and status certificates.
A low reserve fund balance doesn't tell you much by itself. What matters is the percentage funded relative to the most recent reserve fund study. Under 70% is worth scrutinizing. Your lawyer checks this in the status certificate.
It varies by building. Some include heat, hydro, and water. Others cover nothing beyond building insurance and reserve contributions. A fee comparison means nothing without knowing what's included.
Only if the declaration and rules allow it, and only if you're a principal resident under Toronto's short-term rental bylaw. Many buildings explicitly prohibit short-term rentals. Check condo rules before buying with that intent.
In pre-construction, you often move in before the building is registered as a condo. During this interim occupancy period you pay phantom rent to the developer, not a mortgage. The formula is set by section 80 of the Act.
Condo transactions have specific conditions, timelines, and documents that differ from freehold. An agent who works primarily with condos will know what to look for in a status certificate and how to structure a status certificate condition properly. CondosAgent.com lists condo specialists in Toronto.
Reserve fund funding level, management company, fee history, and any pending special assessments all matter. CondosReview.com rates Toronto buildings across these dimensions so you can compare before you offer.
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