Mark Savel | TorontoLivings - Toronto Real Estate

Sep 08

August 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

If it felt like the market hit pause in August… it kind of did.

Between vacations, back-to-school prep, and one last cottage weekend, it’s no surprise that activity slowed across the board. For our team — and many of our clients — the majority of the month was spent away from the action. Historically, August tends to be one of the sleepiest months in Toronto real estate, and this year followed that familiar script.

That said, a quiet market doesn’t mean a stagnant one. Beneath the surface, some subtle (and potentially significant) shifts took place.

Sales Slow, Listings Rise – A Buyer’s Market (On Paper)

The Toronto Regional Real Estate Board (TRREB) reported 5,211 sales in August 2025 — a 2.3% increase year-over-year, but a sharp 14% decline from July. That drop wasn’t unexpected, given the seasonal slowdown. What stood out more was the surge in new listings: 14,038 properties hit the MLS, up 9.4% from last year and higher than July’s tally.

In plain terms: buyers had more to choose from, and fewer competitors to contend with.

TRREB President Elechia Barry-Sproule put it this way: “With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits.” (FYI, the Bank of Canada is meeting on Sept 17th to decide on the policy interest rate)

You can almost hear the fall market gears warming up… but then again, who really know!?!

Pricing Holds Steady — But Down From Last Year

The average selling price in the GTA came in at $1,022,143 — down 5.2% year-over-year and 2.81% from July. The MLS Home Price Index (HPI) Composite also fell 5.2% annually but held flat month-over-month.

That month-over-month stability may seem like good news for sellers, but context is everything. Properties sat longer, with average days on market rising to 49 — the second slowest pace of the year (only January was slower at 55 days).

In short: homes are still selling, but not without negotiation — and patience.

Condos: The Softest Spot on the Map

Of all housing types, the condo segment saw the steepest summer dip. Just 890 condo sales were recorded — making it the third weakest month of 2025. Prices followed suit, with the average condo selling for $667,660, marking the worst monthly performance of the year.

That said, inventory remains healthy and choice is abundant — which could be a silver lining for buyers looking to enter the market or make a move-up purchase.

What This Means for Fall (And Why September Matters More Than Ever)

August may have been sluggish, but fall could be a different story. With many buyers and sellers returning from summer break, we expect momentum to pick up in September.

TRREB Chief Information Officer Jason Mercer noted that, even with lower borrowing costs and softer pricing, affordability remains a challenge. But any additional cuts from the Bank of Canada — like the ones forecasted this fall — could bring sidelined buyers back into the game.

What Buyers and Sellers Should Know Right Now

For Buyers:

Inventory is your advantage. With listings up and competition low, now’s the time to shop around and negotiate with confidence.
Interest rate cuts may be coming. Acting before they hit the headlines could save you from bidding wars down the road.
Condos are especially soft. If you’ve been eyeing a unit downtown or looking for an investment property, this could be the moment to pounce.

For Sellers:

Buyers are cautious, not absent. Presentation, pricing, and patience are key.
Prep now for the fall surge. We expect renewed activity in September — having your listing market-ready could pay dividends.
Highlight value. With affordability still a top concern, make sure your home’s best features are front and centre.

Final Thoughts – Don’t Sleep on the Slow Months

Yes, August was quiet. But that silence came with a lot of signal: more listings, longer days on market, and room for negotiation across nearly every housing segment.

Sellers: now’s the time to prep your listing for fall. Presentation, pricing, and timing will matter more than ever.

Buyers: if you’ve been waiting on the sidelines, this might be the moment to step in. Less competition. More inventory. And the possibility of more favourable rates ahead.

After a well-earned summer breather, Toronto’s market is gearing up again — and we’re here to help you navigate what’s next.

Looking to buy or sell this fall?
Reach out to the Toronto Livings team — even if August was all about rest, we’re ready to help you move forward in September.

Aug 04

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July 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

A Stronger Summer Showing

The Toronto real estate market delivered its strongest July sales performance since 2021 — a welcome shift after a slow start to the year. According to the Toronto Regional Real Estate Board (TRREB), 6,100 homes were sold across the GTA last month. That’s a 10.9% increase over July 2024.

New listings also climbed to 17,613, up 5.7% year-over-year. But with sales rising faster than listings, the market saw a modest tightening — signalling that more buyers are finding opportunities to jump in.

Are Prices Still Falling?

Yes — but there’s more to the story.

The MLS®Home Price Index (HPI) Composite Benchmark was down 5.4% compared to last year, while the average selling price dropped 5.5% to $1,051,719.

Month-over-month, prices held steady — suggesting the bottoming-out trend we started to see in June may be sticking around.

“Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales,” said TRREB President Elechia Barry-Sproule.

On the Ground: More Buyers, Faster Sales

From what we’re seeing firsthand — buyers are back.

Between back-to-back interest rate cuts earlier in 2025 and greater affordability in key segments (especially entry-level condos and townhomes), buyer activity is up. Homes are selling faster, showing traffic has picked up, and serious buyers are making moves.

This is the second month in a row that sales have outpaced new listings on a seasonally adjusted basis — a trend worth watching as we head into the fall market.

Rate Relief & Economic Outlook

While the Bank of Canada held its key rate at 4.25% in July, economists expect another cut may be on the table this fall (September is the next meeting).

Mortgage rates have already reacted, with many 5-year fixed options dipping below 5% — making ownership slightly more attainable for buyers who were previously priced out.

But the economic picture remains mixed. As TRREB’s Chief Market Analyst Jason Mercer notes:

“Recent data suggest that the Canadian economy is treading water… further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth.”

What About the Foreign Buyer Ban?

Despite its name, the foreign buyer ban isn’t an outright block. There are several exemptions that allow non-residents to purchase real estate in Canada, including:

Multi-unit buildings with 4+ units
Vacant land and development parcels
Recreational and rural properties
Purchases by international students and temporary workers under defined rules

This is important context for developers and investors looking at multiplex conversions or purpose-built rentals.

Key Stats at a Glance (July 2025)

Metric	Value	YoY Change
Home Sales (GTA)	6,100	+10.9%
New Listings	17,613	+5.7%
Avg. Selling Price	$1,051,719	-5.5%
MLS® HPI Composite	—	-5.4%
BoC Key Interest Rate	4.25%	—
5-Year Fixed Mortgage Rates	~4.89%	Lower than 2024

What Buyers and Sellers Should Know Right Now

For Buyers:

Timing is on your side. With prices flat month-over-month and rates slowly trending down, conditions are more favourable than they’ve been in years.
Competition is still manageable, but we expect that to shift as fall approaches — don’t sleep on pre-approval and fast decision-making.
Condos and townhomes are heating up, especially in midtown and west-end pockets. If you’ve been on the sidelines, now’s the time to revisit your strategy.

For Sellers:

Pricing matters more than ever. Overpricing is a fast track to stagnation — strategic pricing is key in this transitional market.
Presentation counts. With more motivated buyers, staging, pre-inspections, and marketing make a real difference.
We’re seeing faster sales for homes that show well and are priced right — especially in walkable, transit-connected neighbourhoods.

Final Thoughts

Affordability is improving. Buyer confidence is growing. And if July’s numbers are any indication, we’re moving toward a more balanced market.

With fall just around the corner, there’s likely more activity — and more competition — to come.

If you’re planning to buy, sell, or just want to know how the shifting market affects your next move, reach out to us here.

Want a better sense of your home’s current value? Get your free evaluation and we’ll show you what today’s buyers are paying.

Jul 23

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Best Sites to Find Medium‑Term Rentals in Toronto: for Relocations, Renovations & Extended Stays

By Mark Savel Medium Term Rentals

Whether you’re relocating for work, renovating your current home, or planning an extended stay in the city, medium-term rentals (typically 1–12 months) have become the go-to solution. Flexible leases, furnished spaces, and all-inclusive pricing make them a practical choice for professionals, families, and digital nomads alike. According to recent Toronto rental market data, demand for fully furnished, turnkey housing has climbed steadily over the past two years—thanks in part to remote work and corporate relocation programs.

The Three Types of Platforms to Check First

1. Corporate Housing & Specialized Providers

Best for relocations and turnkey living
If you want a seamless, hotel-like experience without the hotel vibe, corporate housing providers are your best bet. They specialize in fully furnished suites with all the comforts of home: stocked kitchens, dedicated workspaces, housekeeping, and 24/7 support.

Here are some top choices:

Premiere Suites – Canada’s largest corporate housing provider.
MAC Furnished Residences – Over 30 years of experience serving relocations across the GTA.
Mary-am Suites – Known for high-quality furnished rentals with concierge-style service.
Olivia’s Housing – Great for mid-term executive stays, offering flexible 28+ day rentals.

You can also rent directly with us! Check out our fully furnished 3-bedroom corporate relocation housing—ideal for families in between homes or professionals relocating to Toronto. For a more design-forward take, follow @amreeiproperties on Instagram for beautifully curated furnished stays.

2. Meta-Search & International Platforms

Best for variety and quick availability
If you prefer browsing multiple options quickly, global platforms are a solid choice. Many now cater specifically to longer stays:

Airbnb – Long-stay filters and host-reviewed listings.
Vrbo – Best for private, whole-home rentals.
Booking.com & Sonder – Blend of apartment-style hotels and furnished apartments.
Nestpick – Meta-search engines that pull listings from multiple providers.

These platforms are great for those wanting flexibility, variety, and user reviews before committing.

3. Sublet & Budget-Friendly Sites

Best for extended stays on a tighter budget
If you’re willing to trade full-service perks for cost savings, sublet-focused sites can be worth exploring:

Flatio – Deposit-free, mid-term furnished rentals.
Sublet.com – Flexible furnished subleases and rooms.
Facebook Marketplace & Kijiji – Informal but often great for last-minute deals (just be sure to vet listings carefully).

These platforms appeal to students, interns, or anyone needing a simple, budget-conscious stay.

What to Consider Before Booking a Medium-Term Rental

Before you sign, make sure you:

Review lease terms and cancellation policies.
Confirm what’s included (utilities, WiFi, parking, cleaning).
Check location—proximity to transit, work, or schools matters.
Ask for corporate invoicing if you’re relocating for work.

Professionally managed properties often handle these details better, which is why corporate providers remain popular for business and family relocations.

Ready to Find Your Perfect Medium-Term Rental?

Toronto’s medium-term rental market is full of great options—if you know where to look. Whether you need a furnished home for a few months or a turnkey space while you renovate, we can help you find the right fit. Start by exploring our featured 3-bedroom corporate relocation housing, or reach out to us directly for personalized recommendations. And for daily inspiration, follow @amreeiproperties to see beautifully staged furnished rentals around the city.

Jul 22

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Whats the Difference Between a Medium‑Term & Long‑Term Lease in Toronto

By Mark Savel Medium Term Rentals

Why Your Rental Strategy Matters in Toronto’s Market

Toronto’s rental market is tight, competitive, and constantly evolving. Choosing the right rental type isn’t just about convenience—it’s about finding the right fit for your lifestyle. Whether you’re relocating for work, staying temporarily, or looking for long-term stability, understanding the pros and cons of each rental type will help you make the best decision for your situation.

What is a Medium‑Term Rental?

A medium‑term rental (MTR) typically ranges from 1 to 6 months and is almost always furnished. These rentals are ideal for corporate relocations, digital nomads, or anyone “in-between homes.”

Pros:

Furnished and often fully equipped (utilities and Wi-Fi included)
Flexible lease terms—great for temporary stays
Move-in ready with minimal setup costs

Cons:

Limited selection in some neighbourhoods
Less negotiating power due to demand

Check out our clients property: Medium-Term Rental in Toronto – Fully Furnished 3-Bedroom Corporate Housing.

What is a Long‑Term Rental?

A long‑term rental (LTR) in Toronto is typically a 12-month lease or longer, and is the most common choice for permanent residents.

Pros:

Stability and consistency for those planning to stay longer
Access to a wider variety of units and neighbourhoods
Many buildings are subject to Ontario rent control

Cons:

Less flexibility—breaking a lease early can be challenging
Usually unfurnished, requiring upfront furniture and setup

Which Rental Type is Right for You?

Choose a Medium-Term Rental if:

You’re relocating temporarily for work
You’re renovating or between homes
You need flexibility with move-out dates

Choose a Long-Term Rental if:

You’re planning to stay in Toronto for 12+ months
You prefer a consistent living arrangement
You’re okay furnishing and setting up utilities yourself

Real Stories – How We Helped Clients Choose

One client relocating for a six-month tech contract needed a fully furnished, hassle-free space—we secured them a modern MTR downtown within 48 hours. Another couple moving from Vancouver wanted long-term stability; by opting for an LTR in a rent-controlled building, they found the perfect home for their new life in the city.

Final Thoughts – What’s Next?

Whether you’re looking for flexibility or long-term comfort, Toronto offers options for every lifestyle. The key? Weigh your priorities: convenience vs. stability.

Not sure which rental type is right for you? Let’s chat about your options.

Jul 22

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Medium-Term Rentals in Toronto: Flexible Housing for 30–180 Days

By Mark Savel Advice For Sellers, Medium Term Rentals

What Are Medium-Term Rentals?

Medium-term rentals are furnished homes or condos leased for 30 days to 6 months—the sweet spot between nightly Airbnb-style stays and traditional one-year leases. They’re perfect for people who need a place longer than a vacation but don’t want to commit to a full-year lease.

Toronto’s housing market, with its constant flow of newcomers, corporate relocations, and transitional homeowners, makes medium-term rentals more relevant than ever.

Who Are Medium-Term Rentals For?

Corporate Relocations & Work Assignments

When employees relocate for a project or work assignment, staying in a hotel for months can be expensive—and uninspiring. Medium-term rentals offer a home-like alternative with full kitchens, private living spaces, and flexible terms.

Looking for an example? Check out this fully furnished 3-bedroom in Toronto, perfect for corporate relocations.

Homeowners Renovating or Between Homes

If you’re remodeling your home—or selling one place while waiting for another to close—a medium-term rental keeps you comfortable during the transition. Think of it as a stress-free way to ride out those noisy renovations or delayed closings.

Extended Visits & Medical Stays

Some families need to be in Toronto for months at a time—whether for specialized medical treatment, supporting a loved one, or even “test-driving” the city before making a permanent move. Medium-term rentals make these longer stays convenient and comfortable.

Why Toronto is Perfect for Medium-Term Rentals

Strong Demand from Relocations

Toronto is Canada’s corporate and financial hub. With global companies moving employees in and out of the city, demand for fully furnished, flexible housing remains high—even as overall rents have cooled slightly in 2025.

Tight Hotel Supply & Rising Costs

Extended hotel stays can feel cramped and costly. Medium-term rentals often provide more space for less money, plus practical perks like full kitchens and in-suite laundry.

Investor Opportunity

For investors, medium-term rentals can be a sweet spot:

Higher nightly rates than long-term leases
Fewer regulatory headaches than short-term rentals (and less turnover chaos)

What to Look for in a Medium-Term Rental

Whether you’re renting or investing, here’s what makes a great medium-term property:

Fully furnished with quality essentials (not just mismatched leftovers)
All-in pricing – utilities, Wi-Fi, and parking included
Great location – near transit, corporate hubs, or hospitals

Considering a Medium-Term Rental?

If you need temporary housing for work, renovations, or a life transition, a medium-term rental could be the perfect fit. Explore this fully furnished 3-bedroom Toronto rental, ideal for corporate stays or relocations and experience how seamless a temporary move can be.

Ready to Find Your Medium-Term Rental?

Whether you’re relocating for work, waiting on a new home to close, or just need a comfortable place during renovations, we can help you secure the right space. Contact the Toronto Livings Team today and let’s find you a rental that feels like home—even if it’s only for a few months.

Jul 18

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Rent Control Exemptions in Toronto Explained

By Mark Savel Advice for Landlords

What Is Rent Control in Toronto?

Rent control in Ontario limits how much a landlord can increase a tenant’s rent each year. For 2026, the provincial guideline is 2.1% for most residential units—meaning landlords can’t raise rents above that amount unless approved for an above-guideline increase (AGI).

But not all rentals follow this rule. In Toronto, a growing number of units are exempt from rent control, creating different rules for both landlords and tenants.

Which Rentals Are Exempt from Rent Control?

Post‑November 15, 2018 Units

Any unit first occupied for residential use after November 15, 2018 is exempt under Ontario’s Residential Tenancies Act. This includes:

New condo units rented out for the first time.
Purpose-built rental buildings completed after that date.
Newly finished basement suites or secondary units occupied for the first time after 2018.

Why Are They Exempt?

The Ontario government introduced this exemption to encourage new housing development. By allowing landlords to set market-driven rent increases, policymakers hoped more developers would build rental housing.

What Rules Still Apply to Exempt Units?

Even if a unit is exempt from rent control caps, landlords still must:

Wait 12 months between rent increases.
Provide 90 days’ written notice using Form N2 (VERY IMPORTANT as most landlords we speak with assume Form N1 is sufficient)
Follow all other tenancy rules (e.g., maintenance, eviction regulations).

How This Impacts Tenants and Landlords

For Tenants

Exempt units can see steeper rent increases year-over-year. Budgeting is trickier, and long-term affordability can be uncertain.

For Landlords

More pricing flexibility can mean higher rental income, especially in high-demand areas. But aggressive rent hikes may push tenants out, causing longer vacancies.

Average Rent Increase Comparison

According to Clavis Property Management, exempt units saw average increases of 5–10% annually in recent years—double or even triple the guideline cap.

Should You Rent or Invest in an Exempt Unit?

For renters, exempt units often come with newer finishes and better amenities—but expect rent to grow faster than older, controlled buildings. For investors, these units provide better revenue potential, making them attractive for long-term holds.

Thinking about renting or investing in Toronto? Talk to our team. We help clients understand how rent control exemptions could affect their long-term plans.

FAQ

Can my landlord raise my rent anytime?

No. Even in exempt units, landlords must wait 12 months between increases and give 90 days’ written notice.

Can I refuse a rent increase on an exempt unit?

You can’t refuse if proper notice is given, but you can dispute illegal increases at the Landlord and Tenant Board.

Are all new condos exempt?

Most are—if the unit was first occupied after November 15, 2018. Older condos remain under rent control.

Ready to Make a Move?

Whether you’re a tenant navigating rent hikes or an investor weighing the benefits of an exempt unit, our team can guide you through the Toronto rental market. Contact us today to get expert advice and a strategy that fits your goals.

External References:

Jul 17

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Ontario Rent Increase Guidelines for 2026: What Landlords Can (and Can’t) Charge

By Mark Savel Advice for Landlords

What is the 2026 Rent Increase Guideline (2.1%)?

Ontario has set the maximum allowable rent increase for most residential units at 2.1% for 2026—the lowest cap in four years. This guideline, announced by the Ministry of Municipal Affairs and Housing, is based on Ontario’s Consumer Price Index (CPI) average from June 2023 to May 2024.

For landlords, this means you can raise rents by up to 2.1% without additional approvals. Tenants, on the other hand, can rest assured that any increase above this limit needs a formal application to the Landlord and Tenant Board (LTB).

Who It Applies To—and Who’s Exempt

The guideline applies to most private residential rental units occupied on or before November 15, 2018, including:

Houses, apartments, and condos
Secondary suites and basement rentals

However, some units are exempt, including:

Residential units first occupied after November 15, 2018
Vacant units (landlords can set new market rents)
Community housing, long-term care, and commercial properties

Key Rules Landlords Must Follow

If you’re planning a rent increase, here’s what the law requires:

Only one increase every 12 months
90 days’ written notice using Ontario’s standard Form N1
Effective window: increases can take effect anytime between January 1 and December 31, 2026

Quick Example

If your current rent is $2,000, the maximum increase without special approval would be $42/month, bringing the new rent to $2,042.

What If Landlords Need More? (Above-Guideline Increases)

Landlords can apply for an Above-Guideline Increase (AGI) through the LTB, but approvals are limited to specific reasons:

Significant capital repairs or renovations
Extraordinary increases in municipal taxes or utilities
Increased security service costs

Applications must include documentation, and tenants have the right to dispute.

What Tenants Need to Know

Tenants should:

Confirm that their unit falls under the guideline
Verify the math on any rent increase notice
Know their rights to dispute through the LTB if the increase seems incorrect

Why 2.1%? Context & Comparison

The 2.1% guideline reflects Ontario’s inflation trends, which have cooled compared to recent years. Here’s a quick look at past guidelines:

Year	Guideline
2023	2.5%
2024	2.5%
2025	2.5%
2026	2.1%

Bottom Line: Preparation & Clarity for 2026

For landlords: plan early and issue notices properly. For tenants: understand your rights and keep records of all communications.

If you’re unsure how these changes impact you—or you need help navigating Toronto’s rental market—reach out to the Toronto Livings Team. We’re here to help you stay informed and make confident decisions in 2026 and beyond.

Jul 16

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How Long Is a Status Certificate Valid in Toronto? What Buyers and Sellers Need to Know

By Mark Savel Advice For Buyers, Advice For Sellers

Why Status Certificates Matter

When you’re buying or selling a Toronto condo, the status certificate is one of the most important documents in the deal. It’s a snapshot of the building’s financial health, reserve fund, insurance, and any legal issues that could impact ownership. Lenders and lawyers rely on it to confirm that you’re not walking into unexpected costs—or worse, a building with looming legal trouble.

The Legal Reality: Valid Only on the Day It’s Issued

Here’s the key takeaway: a status certificate is legally valid only on the date it’s produced. According to the Ontario Condominium Act, it’s essentially a “point-in-time” document. Think of it like a financial snapshot—accurate the moment it’s taken, but not guaranteed tomorrow. Condo boards aren’t required to notify you of any changes after the certificate is issued.

The Practical Reality: Lawyers and Lenders Play by Different Rules

While the law is clear, real-world practice adds a layer of interpretation. Lawyers and lenders treat the document as “current” for a certain window of time:

Lawyers

Most lawyers will review a status certificate within 10 days of issuance.
Between 30–60 days, many will request a verbal update from property management to confirm nothing has changed.
Past 60 days, some lawyers may advise ordering a new one if the deal is still pending.

Lenders

Most lenders require a status certificate that’s no more than 30 days old before approving mortgage funds.
Beyond 90 days, virtually every lender will require a fresh certificate, no matter what.

Why There’s No Universal Rule

The reason for this inconsistency is simple: condo finances can change fast. A new special assessment, a lawsuit, or unexpected repairs can throw a building’s financials off balance in a matter of weeks. Lawyers and lenders set their own risk tolerance, which is why two deals on identical units might have different requirements.

Real-World Example

Not long ago, we had a deal where the status certificate was just outside the 90-day window. The lender wouldn’t release funds until a new certificate was ordered—costing the seller time and the buyer an extra $100 in fees. Nothing had changed in the building’s finances, but the lender’s policy was firm: no exceptions beyond 90 days.

Best Practices for Buyers and Sellers

Track the date carefully. Treat the issue date as a countdown clock.
Expect lender caution. If financing is involved, budget for the possibility of ordering a second certificate.
Talk to your lawyer early. Ask how long they’re comfortable relying on an older certificate.
If you’re selling, be proactive. If your certificate is nearing 60 days old and the deal isn’t firm yet, consider ordering a new one before being asked.

Quick FAQ

Can you rely on an old status certificate if nothing has changed?
Sometimes, but only with confirmation. Lawyers may request verbal updates, and lenders often won’t accept verbal assurance beyond 30–60 days.

Who pays for a new status certificate if one is needed?
Typically, the seller provides the initial certificate. If a new one is required due to delays, it’s often negotiated, but sellers usually cover it to keep the deal moving.

What if something changes after the certificate is issued?
Buyers can request an updated certificate, and significant changes (like a new special assessment) could give them grounds to back out before firming the deal.

Thinking About Buying or Selling a Condo?

Understanding the fine print of a status certificate can make or break a deal—and that’s where we come in. Whether you’re reviewing one for a potential purchase or preparing your unit for sale, our team knows exactly what to look for (and how to keep deals moving, even when lenders get picky).

Reach out to us today to talk through your condo plans—let’s make sure your next move is a confident one.

Jul 15

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Status Certificate Pricing in Ontario: Basic vs Rush Fees Explained

By Mark Savel Advice For Buyers, Advice For Sellers

What is a Status Certificate & Why It Matters

If you’re buying or selling a condo in Ontario, a status certificate is one document you can’t skip. Think of it as the condo’s financial report card. It tells you whether the corporation is in good financial health, if there are upcoming special assessments, and whether the current owner is up-to-date on payments. Lawyers, lenders, and savvy buyers all rely on it before finalizing a deal.

Standard Cost – What You’ll Typically Pay

Under the Ontario Condominium Act, condo corporations are required to provide a status certificate within 10 days of request. The standard fee is $100 (including taxes), but most property management companies now use online ordering systems that add a convenience fee—usually $30 to $50. So, realistically, expect to pay $130 to $150 for a standard 10-day turnaround.

Rush Fees – Paying for Speed

Need it faster? Many property management firms offer rush service, delivering within 3 to 5 business days. But speed comes at a price—rush fees typically range from $150 to $400 on top of the standard $100 and convenience fees.

For example: one major management company charges $100 + $46.50 convenience + $150 rush = $296.50 + HST. Prices vary, but planning ahead can save you hundreds.

Who Usually Pays for It?

In most condo resale transactions, the seller orders and pays for the status certificate as part of listing prep. However, in competitive or quick-close situations, the buyer may agree to cover it to speed up due diligence.

Tips to Save Money

Order early – Sellers should request the certificate when listing to avoid paying rush fees later.
Skip the convenience fee – Many management companies still accept in-person requests at no extra charge.

Quick Cost Comparison Table

Service Type	Base Fee	Convenience Fee	Rush Fee	Total Estimate
Normal (10 days)	$100	$0–$50	–	$100–$150 + HST
Rush (3–5 days)	$100	$0–$50	$150–$400	$250–$550+ HST

Ready to Buy or Sell a Condo?

A status certificate is just one piece of the puzzle. Whether you’re preparing to list or doing your due diligence as a buyer, our team can guide you through every step—and help you spot red flags before they become costly surprises. Get in touch with us today to talk condos.

Jul 14

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Where to Order a Status Certificate for a Toronto Condo

By Mark Savel Advice For Buyers, Advice For Sellers

If you’ve ever made an offer on a Toronto condo—or are about to—you’ll quickly hear this term: status certificate. It might not sound exciting, but this document is a cornerstone of any smart condo purchase. It gives you (and your lawyer) a detailed snapshot of the condo corporation’s financial health, rules, and any red flags that could impact your investment.

Let’s break down what a status certificate is, what’s inside, where you can order one in Ontario, and why it matters more than most buyers realize.

What is a Status Certificate?

A status certificate is an official document issued by a condominium corporation that provides key financial and legal information about a specific condo unit and the condo corporation as a whole.

In Ontario, it’s a legal requirement under Section 76 of the Condominium Act, 1998. Condo corporations must issue one within 10 calendar days of receiving a written request and a $100 fee (HST included).

Whether you’re buying, selling, or refinancing a condo, this document is essential—it can affect offer conditions, financing approval, and even your long-term ownership experience.

What’s Inside a Status Certificate?

It’s more than just a single sheet. A typical status certificate includes:

Declaration, by-laws, and rules of the condo corporation
Monthly common expenses for the unit (and whether the current owner is up to date)
Audited financial statements from the previous year
Annual operating budget
Reserve fund balance and funding plan (important for future repairs)
Insurance certificate
Details of any legal proceedings, judgments, or outstanding claims
Whether the unit is subject to a lien
Names and contact information for directors and officers of the condo board

This bundle helps your real estate lawyer flag issues like underfunded reserves or pending lawsuits—things that aren’t obvious from a showing or MLS listing.

Check out the podcast episode we did on all things status certificates:

Cost, Timeline, and Ordering Channels

Ordering a status certificate in Ontario is relatively straightforward. Here’s what to expect:

Cost: $100 (HST included), set by provincial regulation
Delivery timeline: 10 calendar days from the date of request and payment
Format: Usually provided via secure PDF download, email, or printed hard copy

Some management firms also offer expedited service—usually within 2–3 business days—for an additional fee (often ranging from $50 to $135 extra).

Where to Order a Status Certificate in Ontario

Depending on how a building is managed, status certificates can be ordered through several platforms. Here are the most commonly used options:

StatusCertificate.com
The most widely used service in Ontario. Many property management firms rely on this platform. Simply search by condo address and unit number, and you can order directly online.
Condo Control
Used by many Toronto buildings. If your condo is registered, you can order certificates through your resident portal.
CondoBI
Provides centralized access for condo documents. Works with affiliated management companies and allows digital payment and delivery.
Percel Property Management
Offers both standard and expedited status certificate orders. Ideal for time-sensitive transactions.
Crossbridge Condominium Services
Ontario’s largest condo manager. Ordering forms are available on individual property pages.
Wilson Blanchard
Allows status certificate requests online for buildings they manage.
CondoCafe
Used by large firms like FirstService Residential. You’ll need login credentials linked to your building.
Direct from Property Manager or Condo Board
In smaller or self-managed buildings, requests are handled manually. Contact the property manager or board directly and be prepared to send payment via cheque or e-transfer.

Why Status Certificates Matter in the Buying Process

For buyers, the status certificate is typically reviewed as part of a conditional offer—meaning your deal only proceeds if the certificate comes back clean. That review is done by your real estate lawyer, and they’re looking for:

Evidence of a healthy reserve fund
Any upcoming special assessments (one-time repair costs to be paid by owners)
Legal issues involving the condo corporation
Liens or unpaid maintenance fees on the unit
Rules or restrictions that may affect how you use the property (e.g., pets, short-term rentals)

Sellers may also choose to proactively order one in advance to speed up the process—especially in competitive markets.

Common Questions About Status Certificates

Who pays for it?
Traditionally, the buyer covers the cost (as part of their due diligence), but some sellers may offer it upfront.

Can anyone request one?
Yes—anyone can request a status certificate as long as they provide the written request and $100 fee.

How long is it valid?
There’s no official expiry, but certificates older than 30 days are often considered outdated for legal review.

What if it’s not delivered within 10 days?
That’s a breach of the Condominium Act. While rare, your lawyer can escalate if delays occur.

Is the content negotiable?
No—the condo corporation must disclose certain information in a fixed format. It’s not something you can “amend.”

Final Thoughts

Ordering a status certificate might seem like a formality, but it can reveal a lot about the property you’re buying—or selling. In a city like Toronto where condo purchases move fast, understanding where to order one and what to look for can give you a real edge.

Think of it as your condo’s report card—and every good deal starts with doing your homework.

For more tips on buying a condo in Toronto, send us a message below!

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