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Jul 14
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Toronto Condo

Where to Order a Status Certificate for a Toronto Condo

By 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.

Toronto Skyline
Toronto Skyline

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!

Sources & Further Reading:

Jul 03
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What Costs Should You Expect When Selling a Home in Toronto?

By Advice For Sellers

Selling a home in Toronto comes with plenty of moving parts—literally and financially. While the goal is usually to walk away with a tidy profit, it’s worth knowing what expenses could chip away at your bottom line. From staging to legal fees and everything in between, here’s a breakdown of what sellers can expect to spend.

Real Estate Commissions: The Big One

Real estate commissions are often the largest cost in a home sale. In Toronto, it’s standard to pay between 3.5% and 5% of the final sale price, with that amount typically split between the buyer’s and seller’s agents.

While it may seem steep, this fee covers professional marketing, buyer negotiations, and the guidance of experienced agents who can help you sell faster and higher. And yes—commission rates can sometimes be negotiated, especially on higher-end properties.

Meet our team to see how we advocate for every dollar on your behalf.

Legal Fees: Closing with Confidence

Expect to spend between $1,500 and $2,500 in legal fees. That includes the cost of preparing documents, discharging your mortgage, completing title transfers, and managing disbursements like wire transfers or title insurance.

Your real estate lawyer will ensure the closing goes off without a hitch—so this is one area where cutting corners could cost more in the long run.

Mortgage Discharge & Prepayment Penalties

If you’re breaking your mortgage early, be prepared for additional fees. These usually include:

  • Admin/legal/registration fees (~$250–$500 total)
  • A prepayment penalty (either 3 months’ interest or an Interest Rate Differential—whichever is higher)

The exact amount varies depending on your lender and mortgage terms. Request a quote from your bank ahead of time so you’re not blindsided at closing.

Staging and Photography: Selling the Story

Staged House

First impressions count. Many sellers invest in staging and professional photography to maximize appeal—and return.

  • Physical staging can cost $4,000–$10,000, depending on the size of the home and length of time it’s staged.
  • Photography and virtual tours typically range from $500–$1,000, though high-end packages can go higher.

It may seem like a lot up front, but well-staged homes tend to sell faster and for more money—often recouping that cost and then some.

Status Certificate (For Condo Sellers)

If you’re selling a condo, buyers will likely request a status certificate, which outlines the financial and legal health of the building. In Toronto, sellers are usually responsible for covering the ~$100 (plus HST) fee.

Make sure to order it early to avoid delays once your property hits the market.

Moving Costs: Don’t Forget the Finish Line

Once the deal is done, it’s time to pack—and that comes with its own price tag. Professional movers in Toronto typically charge:

  • $1,500–$2,500 for local moves, depending on home size and complexity
  • More for long-distance or full-service packing/moving combinations

Budget a bit extra if you need short-term storage or specialized services (like moving a piano).

Capital Gains Tax (If It’s an Investment Property)

If the home you’re selling is your principal residence, you’re off the hook for capital gains.

But if it’s an investment or secondary property, 50% of the profit is taxable as income. The amount you owe will depend on your marginal tax rate and how long you held the property.

Keep good records—renovations, legal fees, and realtor commissions can often be deducted from your gain.

Here’s what the CRA says about it.

Toronto Home Selling Costs at a Glance

Cost TypeTypical Range
Real Estate Commission3.5%–5% of sale price
Legal Fees$1,500–$2,500
Mortgage Discharge~$250–$500 + penalties
Staging$4,000–$10,000
Photography~$500–$1,000
Status Certificate~$100 (condos)
Moving$1,500–$2,500
Capital Gains (if applicable)50% of gain is taxable
Staged House
Staged House

Final Thoughts: Budgeting = Power

Selling comes with its share of expenses—but it doesn’t have to come as a surprise. With a clear view of the costs involved, you can plan better, price smarter, and maximize your returns.

Thinking of listing your home? Here’s how we help you sell higher.

Jun 09
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People renovating the house

Buying an Older Condo in Toronto: What Smart Buyers Need to Know

By Advice For Buyers

Buying into a mature condo building in Toronto might not have the same flash as something pre-construction—but for the right buyer, it could be the smartest move you make. Older condos often come with more square footage, solid construction, and a deeper community feel. But they also carry risks that demand a little extra due diligence.

Let’s break down the key advantages, potential pitfalls, and how to tell when an older condo is worth it.

The Upside: Why Older Buildings Still Win in Toronto

1. Spacious Layouts

New condos average under 600 sqft for a one-bedroom. Compare that to older units built pre-2000—where 700–900 sqft is the norm. Think defined dining areas, actual coat closets, and functional kitchens. For families, remote workers, or anyone planning to stay long-term, this extra elbow room can dramatically improve your quality of life.

2. Character Features

Some older buildings offer features nearly extinct in new builds: gas BBQ hookups, larger balconies, wood-burning fireplaces (in rare cases), and even two-storey layouts. Buildings like DNA1 on Shaw or the Summit near King West are great examples. These elements can boost resale value for buyers looking for something more unique than a “glass box in the sky.”

3. Established Communities

Older buildings tend to have more owner-occupants and less investor churn. The result? A stronger sense of community and generally better upkeep. You might find active resident committees, building-wide events, and long-time neighbours who care deeply about the property’s future. These soft factors play a major role in your day-to-day satisfaction.

4. Stronger Reserve Funds

Well-managed buildings with decades of budgeting behind them often have healthy reserves, meaning fewer surprise costs. (Always verify this via the reserve fund study, of course.) Some older buildings even overfund their reserves in anticipation of future projects, which could mean smoother sailing for you down the line.

Check out our blog post, discussing: Toronto Condo Reserve Funds – Top 5 Red Flags Every Buyer Should Spot

The Downside: Not Without Its Risks

1. Higher Maintenance Fees

Older condos often have higher fees to cover aging systems. Expect fees in the range of $0.90–$1.40 per square foot. For a 900 sqft unit, that’s $810–$1,260/month. But—those fees may include heat, hydro, or cable (which newer buildings often bill separately). It’s crucial to compare what’s included rather than just looking at the total dollar amount.

2. Special Assessments

A solid reserve fund doesn’t mean you’re immune from a surprise. Elevators, boilers, or parking garages eventually wear out—and if the reserve isn’t enough, owners share the bill.

One buyer recently walked away from an offer after reading the status certificate: the building needed $1.5M in underground garage repairs and hadn’t yet voted on a special assessment.

Other red flags? Unusually quiet boards (no newsletters or AGMs), deferred maintenance (cracked tiles, broken elevators), or lawsuits between residents and the condo corporation. All are worth investigating.

3. Dated Design & Mechanicals

Think beige tile, narrow galley kitchens, and popcorn ceilings. Some buyers see this as a chance to add value; others, a costly headache. It’s all about your appetite for renovations. Replacing fan coil units, windows, or electrical panels can be complex in older buildings and may require board approval.

How to Do Your Homework: Due Diligence 101

Review the Status Certificate

This is your window into the building’s finances, reserve fund, legal issues, and upcoming projects. It also outlines rules (like pet restrictions, short-term rentals, and use of amenities) that can make or break your condo experience.

Read our blog post on: Understanding the Importance of Status Certificates

Examine the Reserve Fund Study

Are there upcoming major repairs? Is the fund sufficiently topped up? A good rule of thumb: reserve contributions should be 25–35% of maintenance fees. Ask for the most recent engineering audit and look at the 3-year repair forecast. Bonus tip: check when the last big-ticket item (roof, HVAC, windows) was done.

Compare What You Get

Some buildings include heat, hydro, or cable in their fees—while others don’t. Make sure you’re comparing apples to apples when evaluating costs. Ask whether the condo has bulk internet, security patrols, or shared amenities with neighbouring buildings. These extras can add major value—or extra costs.

Old vs. New: Condo Comparison Chart

FeatureOlder CondoNew Condo
Price/SqftLowerHigher
Size/LayoutLarger, more definedCompact, open-concept
Maintenance FeesHigher, more inclusiveLower initially
Reserve FundEstablishedLow (early years)
Potential Surprise CostsModerate–HighModerate–Low
AestheticDated, reno potentialSleek, modern
CommunityOwner-occupied, stableHigh rental turnover
AmenitiesModest, well-usedGlossy, less used
Construction QualityConcrete, durableMixed (often drywall + glass)

Final Thoughts: Is an Older Condo Right for You?

If you value space, location, and have the budget (and patience) to potentially modernize, older condos can be great value—especially in a cooling 2025 market. But don’t skip the homework. Ask tough questions, read the docs, and work with a realtor who’s walked this road before (that’s us!)

Older condos aren’t for everyone—but for buyers who know what to look for, they can offer unmatched livability and long-term value. It’s not about the age—it’s about the bones, the budget, and the building’s future.

Still have questions, leave us a message below or Let’s connect and talk strategy.

Jun 08
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Condo views in Toronto

Toronto Condo Reserve Funds: Top 5 Red Flags Every Buyer Should Spot

By Advice For Buyers

What Is a Reserve Fund and Why It Matters

When you buy a condo in Toronto, you’re not just purchasing a unit—you’re buying into a community with shared responsibilities. That includes footing the bill for repairs to common areas like roofs, parking garages, and elevators. Enter the reserve fund: a legally mandated savings account that every condo corporation must maintain to cover the cost of major repairs and replacements.

Ontario’s Condominium Act requires that this fund be reviewed at least every three years by a professional engineer through what’s known as a Reserve Fund Study. A healthy reserve fund protects owners from sudden “special assessments”—those dreaded lump-sum charges when there’s not enough money saved for big-ticket items.

Want to know learn more about why we review status certificates in the first place? Check out our blog post on: Understanding the Importance of Status Certificates

Red Flag #1 – A Reserve Fund That’s Way Too Low

How low is too low?

While there’s no official benchmark, experienced buyers and agents know what to look for. In Toronto, a mid-size condo building should ideally have at least $500,000–$1,000,000 in its reserve fund—more if it’s older or has luxury amenities. Anything substantially below that could spell trouble.

What it tells you

A low reserve balance often means the condo has been under-saving for years. That raises the odds of surprise costs falling to unit owners. It could also mean that major repairs are overdue—or being deferred to avoid raising fees.

What About New Condos?

It’s totally normal for brand-new condos to have relatively low reserve fund balances in their early years. Most developers seed the fund with an initial contribution, but the bulk of future savings comes from monthly fees paid by owners over time.

That said, even in a new building, the initial Reserve Fund Study should outline a detailed contribution schedule that shows the fund growing gradually—and sustainably. Be wary if:

  • The fund balance stays flat for several years
  • Contributions are delayed or minimized
  • There’s no clear funding plan for long-term repairs

A low balance alone isn’t a red flag in year one—but a poorly planned trajectory is.

Red Flag #2 – No Recent Reserve Fund Study

Condo boards are legally required to commission a Reserve Fund Study every three years. If a building hasn’t updated its study in that timeframe, it’s out of compliance.

Even worse: the older the study, the less accurate it is in predicting upcoming expenses. Without current data, you’re flying blind as a buyer.

Learn more on Ontario.ca’s Reserve Fund overview.

Red Flag #3 – The “Contribution Holiday” Trap

Some condo boards try to keep monthly fees artificially low by taking a so-called “contribution holiday”—pausing regular payments into the reserve fund. While this may look good on paper, it’s a short-term fix that can lead to long-term pain.

We once had a buyer eyeing a charming boutique condo downtown. The unit was gorgeous. But when we reviewed the financials, the reserve fund was barely funded—just $220,000 for a 25-year-old building with aging infrastructure. Worse still, the Reserve Fund Study warned of upcoming shortfalls of $15,000 per unit. The board had been on a contribution holiday for two years.

The buyer walked. Smart move.

Red Flag #4 – History of Special Assessments

If a building has a history of levying special assessments, take notice. These one-time fees—sometimes $10,000 to $30,000 per unit—usually mean the reserve fund was underfunded when a big repair came due.

Ask to see previous AGM (Annual General Meeting) minutes or speak with the property manager. Frequent assessments may point to chronic mismanagement.

Red Flag #5 – Expensive Repairs Coming, No Money Saved

What’s worse than a low reserve fund? A low reserve and a big-ticket repair right around the corner. We’re talking about:

  • Elevator replacements
  • Parking garage membrane repairs
  • Roof and window overhauls

These aren’t optional. And if the building hasn’t budgeted for them? Owners will be footing the bill.

City Place condos

Pro Tip – What Smart Buyers Should Always Check

Ask to see the Reserve Fund Study

It should be recent, realistic, and detail how the fund will grow over time.

Read AGM minutes for hidden clues

Sometimes future problems are only hinted at in board meeting notes. Don’t skip them.

Have your lawyer review the Status Certificate

Yes, every time. A good real estate lawyer knows exactly where to look.

Final Thoughts: It’s Not Just About the Unit

You might fall in love with the layout, the finishes, or that view—but none of that will matter if your building’s finances are in rough shape.

Spotting these red flags early can save you tens of thousands—and a lot of future stress.

Ready to Buy Better?

Before you commit to a condo, make sure you’re not inheriting someone else’s financial mess. The lawyers we work with, have reviewed hundreds of status certificates—and know what to look for (and when to walk away).
Contact us today or send us a message below, for a no-pressure chat about your next move!

Nov 05
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Businessman in office signing contract

Status Certificate Ontario: Complete Checklist & Key Details

By Advice For Buyers, Advice For Sellers, Real Estate

Making a smart condo purchase doesn’t have to feel like a shot in the dark. The status certificate serves as your crystal ball, providing crucial insights into a condominium’s health and future prospects.

What is a Status Certificate?

A status certificate is a comprehensive health report for a condominium, mandated by the Ontario Condominium Act. This vital document provides a detailed snapshot of the building’s financial and legal standing, making it an essential tool for informed decision-making in the real estate market.

Key Components

Financial Health
The status certificate reveals the building’s financial pulse through its reserve fund – essentially a savings account for future repairs and maintenance. A robust reserve fund indicates good financial management and reduces the likelihood of unexpected special assessments.

Legal Status
Understanding ongoing legal proceedings is crucial for potential buyers. While lawsuits aren’t always deal-breakers, particularly in newer buildings where construction-related claims are common, they can impact future costs and building operations.

Building Operations
The document outlines important operational aspects including:

  • Maintenance fees and potential increases
  • Parking arrangements
  • Pet policies
  • Insurance coverage
  • Building rules and bylaws

Professional Guidance

While the status certificate is publicly accessible, its interpretation requires expertise. Working with experienced real estate professionals can help you:

  • Identify potential red flags
  • Understand complex legal terminology
  • Evaluate the building’s financial stability
  • Navigate building-specific regulations

Best Practices

Timing Matters
Always ensure your status certificate is current – ideally no more than 30 days old. Real estate markets and building conditions can change rapidly, making recent information crucial for decision-making.

Due Diligence
Before making an offer, thoroughly review:

  • Reserve fund studies
  • Financial statements
  • Building maintenance history
  • Upcoming major repairs or renovations

Making an Informed Decision

The status certificate is more than just paperwork – it’s your protection against unforeseen issues and a tool for confident decision-making. By understanding its components and working with knowledgeable professionals, you can transform the condo-buying process from a mysterious venture into a well-informed investment decision.

Remember, a thorough understanding of the status certificate isn’t just about protecting your investment – it’s about ensuring peace of mind in your new home. Take the time to review this document carefully, and don’t hesitate to seek professional guidance when needed.

Apr 17
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What is a Status Certificate and WHY are they important to review before buying a condo?

By Advice For Buyers, Video Blog

One of the most important parts of the condo buying process, is reviewing the corporations Status Certificate! 

What is A Status Certificate?

A status certificate is a collection of documents, issued by a condominiums property manager that contains info on:

  • Contact information – lists out the legal name of the Condo Corporation, Property Management, and Board of Directors.
  • Maintenance fee amount (Expenses) – both at time of issue and if there are any plans to increase in the near future.
  • Budget – what the building is spending its monthly maintenance fees on.
  • Reserve Fund – how much they have saved for the repair and replacement of components in a condo (ie. savings for roof repairs, parking garages, upgrades, etc)
  • Legal Proceedings/Claims – if any lawsuits are levied against the corporation, or if the corp has levied any against others.
  • Leasing of Units – how many units are currently tenanted in the building
  • Notices – announcements of maintenance fee increases, any planned repairs, or other factors that may impact maintenance fees
  • Bylaws and Rules – The bylaws and rules list what you can or can’t do in a building…Some buildings in the city have outright bans on pets or restrictions on certain breeds and weights.
  • Insurance Requirements – policies the corp has in place, and requirements for new purchasers to have.

How Order a Status Certificate

A seller can request a status certificate by contacting the buildings property manager.  The management company will have 10 business days to prepare and can deliver it in either hard copy or in digital via email. 

How Much is a Status Certificate

The certificate will cost $100 + HST and can be paid by either the buyer or seller, depending on how a deal is structured.

Why You Must Request a Status Certificate

Sellers – I often suggest ordering one before you even go to market with your property.  As a seller, you have a duty and responsibility to disclose any and all details that could impact the sale of your condo.  By ordering a status in advance, you’ll be made well aware any potential pitfalls and can disclose these issues to potential purchasers ahead of time to avoid any issues with closing.

Buyers – In a condo, values are closely tied to how well the building is run (second to location of course).  If fees skyrocket, you may find that the buildings value will appreciate much slower (or actually depreciate) than a building with lower maintenance fees.  A building with known problems can also have an impact on financing and insurance resulting in higher monthly costs – knowing this in advance can allow you to negotiate a better price, or walk away from the deal all together!

Who Reviews the Status Certificate

It is crucial, you take it to a Real Estate Lawyer who has experience in condo dealings.  They are trained in knowing what to look for and the right questions to ask. DO NOT take it to general law firm, or rely solely on a realtors review of it!

How Long Do you Have to Review a Status Certificate 

Most clauses generally allow 2-3 days for lawyer review.  It’s a small window of time, so it’s best have a candid conversation with your lawyer in advance and tell them exactly how you plan on using the property. 

A common misstep is with buyers who spends months out of country.  If their plan is to rent it on AirBnB while away, it’s best to make sure there aren’t any rules or bylaws preventing you from doing so!

Remember, a Status Certificate is generally valid for only 90 days – so if a seller produces a Status dated older than 90 days, ensure you request a new one.

When Should You Walk Away From Purchasing a Condo

No matter how in love you’ve fallen with your new purchase – there are a number of reasons you may want to walk once the status certificate is reviewed: 

  • If the corporation has a low reserve fund – with no plans of replenishing
  • Lawsuits that could result in a loss to the building
  • Indications of an increase to monthly fees or large repairs
  • Being blacklisted from lenders or insurance companies

Accompanying Documents That Also Come With a Status Certificate

Other important documents that accompany the status include:
  • The Declaration
  • Bylaws
  • Rules and Regulations,
  • Certificate of Insurance
  • Current Budget
  • Reserve Fund Study
  • Management Agreements
  • Financial Statements
  • New Owner Information
  • Move-in and Out forms
  • Other Building forms