Hiring a condominium property management company is one of the most consequential decisions a condo board makes. The property manager and their company are responsible for day-to-day operations of the corporation — enforcing the declaration and rules, managing the budget, overseeing contractors, maintaining common elements, and communicating with hundreds or thousands of owners. A good property management company makes a board’s job manageable. A poor one creates legal exposure, financial risk, and owner relations crises that can take years to unwind.

In many regions, condominium property management is a regulated profession under the Condominium Management Services Act, 2015. Managers must be licensed through the Condominium Management Regulatory the relevant regulatory authority (CMRAO), and companies providing condominium management services must hold a provider licence. This regulatory framework — introduced in 2018 — was specifically designed to address the accountability gap that had existed in the industry. Understanding it is the starting point for any board evaluating a management company.

This guide is written for condominium boards evaluating property management companies, and for individual unit owners who want to understand what their board should be asking.

“The question every board should ask before signing any management agreement is: who specifically will be managing our property? Not the company — the person. The individual manager’s experience, their licence type, their workload, and their responsiveness are what you’ll actually experience day to day. The company’s reputation matters, but it’s the manager assigned to your property that determines whether you’re well-served.”

— Andrew Christensen from Christensen Property Maintenance, landscaping and property maintenance specialist with 5 years of experience providing reliable residential and commercial outdoor services across Mount Forest and surrounding communities, focused on quality workmanship, consistency, and customer care

“Boards spend a lot of time evaluating management companies and not enough time evaluating the management agreement. The agreement is where everything that matters actually lives — the scope of services, the fee structure, the termination provisions, and the liability framework. Two companies can look identical in a presentation and have completely different agreements. Read the agreement before you evaluate the presentation.”

— Jeri Dyrmishi, CEO of Synapse Property Management

Understanding the Regulatory Framework

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Is the company licensed by the CMRAO?

Under the Condominium Management Services Act, 2015, any company providing condominium management services in many regions must hold a Condominium Management Provider Licence issued by the CMRAO. Individual managers working for that company must hold either a:

General Licence: The full licence, issued to managers who have met all education and experience requirements. A General Licence holder can manage any type of condominium corporation.

Limited Licence: A transitional or entry-level licence with conditions. Limited Licence holders may have restrictions on the types of corporations they can manage or must work under supervision.

Ask specifically: Does the company hold a current CMRAO Provider Licence, and what licence type does the manager who will be assigned to our property hold?

Verify both at the CMRAO public registry: cmrao.Ca

What a good answer looks like: Current Provider Licence confirmed for the company; General Licence confirmed for the assigned manager. Both verifiable through the CMRAO registry.

What is the manager’s ACMO membership and RCM designation status?

The Association of Condominium a recognized professional association (ACMO) is the professional association for condominium managers in many regions. The RCM (Registered Condominium Manager) designation is ACMO’s professional credential — it requires completion of the Condominium Management Certificate Program and ongoing continuing education.

The RCM designation is a meaningful quality indicator above and beyond the CMRAO licence requirement. A manager who holds both a CMRAO General Licence and an ACMO RCM designation has met two separate professional standards.

Ask whether the assigned manager holds the RCM designation and verify through ACMO’s member directory.

Questions About the Assigned Manager

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Who specifically will be managing our property, and what is their experience?

The company you hire is only as good as the manager assigned to your building. Ask specifically:

  • What is the assigned manager’s name?
  • How long have they been managing condominium corporations?
  • What types of corporations have they managed? (Residential high-rise, townhouse complex, mixed-use — each has different operational demands)
  • What is their current portfolio — how many corporations do they currently manage?

What a good answer looks like: A named manager with demonstrated relevant experience, a portfolio size that allows adequate attention to your property, and verifiable credentials.

How many condominium corporations does the assigned manager currently manage?

Portfolio size directly affects service quality. An overextended manager cannot respond promptly, attend AGMs, manage contractor relationships, and address owner issues for 20+ corporations simultaneously. Ask for the specific portfolio size of the manager who will be assigned to your property.

What a good answer looks like: A portfolio that allows genuine attention — industry discussion often suggests 8–12 corporations as a manageable range for a full-service manager, though this varies by corporation size and complexity.

What happens if the assigned manager leaves the company?

Staff turnover in property management is significant. Ask specifically: if the assigned manager leaves the company, what is the protocol? How quickly will a replacement be assigned? Will the board be notified immediately?

What a good answer looks like: A described transition protocol — immediate notification, named interim coverage, a defined timeline for permanent assignment.

For more: Questions to Ask a Property Management Company About the Assigned Manager

Questions About the Management Agreement

What does the management agreement include and exclude?

The management agreement is the contract between the condominium corporation and the management company. It defines the scope of services, the fee structure, and the obligations of both parties. Read it carefully before signing anything.

Key elements to review:

Scope of services: What specific services are included in the base management fee? Administrative services, financial reporting, contractor coordination, owner communication, meeting attendance — which are included, and which are additional?

Fee structure: Is the management fee fixed or variable? Are there additional fees for after-hours calls, special assessments administration, AGM attendance, or other specific services?

Term and termination: What is the initial term? What notice is required to terminate? Are there penalties for early termination?

Liability limitations: Does the agreement contain provisions limiting the management company’s liability? Are these appropriate?

Ask for the agreement in advance of any presentations, so you can review it before meeting the company.

For more: Questions to Ask About the Property Management Agreement

Questions About Financial Management

How are condominium corporation funds managed and reported?

The management company typically handles the corporation’s operating funds and may hold reserve fund money. Ask specifically:

  • Are the corporation’s funds held in a dedicated trust account separate from the management company’s operating funds?
  • Who has signing authority on the corporation’s accounts?
  • What financial reports are produced, and how frequently?
  • What is the process for expenditures above a defined threshold?

Under the Condominium Act, 1998, condominium corporation funds must be held in trust. Ask how this is structured and how the board maintains oversight.

For more: Questions to Ask a Property Management Company About Financial Management

Questions About Operations and Communication

How does the company handle owner inquiries and complaints?

Ask specifically:

  • What is the process for owners to contact management?
  • What is the target response time for owner inquiries?
  • How are after-hours emergencies handled?
  • Is there a 24/7 emergency line?

How does the company communicate with the board?

Board-management communication is the most frequent source of dissatisfaction with property management companies. Ask:

  • How often will you proactively communicate with the board?
  • What format do board reports take, and how frequently are they produced?
  • How are urgent issues escalated to the board?

For more: Questions to Ask a Property Management Company About Communication and Reporting

Red Flags to Watch For

Unable to confirm CMRAO licensing immediately. A licensed provider and licensed manager will have their credentials immediately available. Hesitation, vagueness, or an inability to provide CMRAO licence numbers is a serious red flag.

Presenting before providing the management agreement. A company that wants to make a presentation before you’ve seen their agreement is controlling the information sequence to their advantage. Request the agreement first.

The assigned manager is not named during the evaluation. If a company presents polished senior staff for your evaluation but won’t name who will actually manage your property day-to-day, the person who shows up after signing may be completely different.

Unusually low management fees. Property management is a service business — the fee reflects the service level. A significantly below-market fee typically reflects a higher-than-normal manager portfolio (less attention per property), additional fees that apply for most common services, or a company that plans to profit from contractor markups.

No reference from a comparable corporation. Ask for references from corporations that are comparable in size and type to yours. A company that manages primarily high-rise residential should not be the first choice for a complex townhouse community, and vice versa.

For a full guide: Red Flags When Hiring a Property Management Company

Before You Sign: A Quick Checklist

  • CMRAO Provider Licence verified at cmrao.Ca
  • Assigned manager’s CMRAO licence type and number verified
  • Assigned manager’s ACMO/RCM designation confirmed
  • Management agreement reviewed in full before presentations
  • Scope of services and fee structure clearly understood
  • Trust account structure for corporation funds confirmed
  • References from comparable corporations contacted
  • Termination provisions and notice requirements understood
  • Transition protocol for manager changes confirmed

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