Upcoming revisions to the Condominium Act, known as Bill 106, will include a requirement that condominium managers be registered and licensed.
Class 1 Registered Condominium Managers will be deemed to have met basic qualifications and passed an entrance exam. Class 1 licenses would likely include certain restrictions that have yet to be specified.
Class 2 Registered Condominium Managers will require two years of on-the-job experience plus four mandatory courses. Licensing fees are likely to be $700 to $900 per year.
Condominium corporations are anticipated to bear these and related costs as condo management fees increase to reflect new licensing requirements.
The current Registered Condominium Manager (RCM) designation is voluntary and created by the Association of Condominium Managers of Ontario (ACMO). Ontario presently has an estimated 3,000 to 3,300 condominium managers of which 950 are currently Registered Condominium Managers.
It remains unclear if individuals running self-managed condominiums will be required to meet these new standards.
Publication Date: March 2017