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.
