TORONTO, Nov. 1, 2017 /CNW/ - Starting today, Ontario's newest regulatory authority, the Condominium Management Regulatory Authority of Ontario (CMRAO) will begin licensing and regulating Ontario's condo management services industry.
In a recent Ipsos Survey, upon hearing about the mandate of the new authority, 87 per cent of Ontarians rated the CMRAO as valuable to them, including 43 per cent who said that the regulation, education and licensing of condominium management services would be very valuable.
"As more and more people choose to live in condominiums, the growth and importance of the condo management sector is a crucial part of that development," says Aubrey LeBlanc, CMRAO Board Chair. "We are confident that the new licensing and education requirements will not only help improve the quality of condo management services, but improve the integrity of the sector as a whole, building confidence for Ontarians who choose condo living."
The CMRAO's mandate is outlined in the Condominium Management Services Act, 2015 (the Act) and includes compulsory licensing of condo management providers (firms) and condo managers, ensuring education standards are met, establishing a code of conduct and handling complaints.
Beginning November 1, the CMRAO will launch its registration and licensing services. All condo management service providers (firms) and condo managers must create an online account and submit their licence application by January 29, 2018. Applicants can continue providing condo management services until a decision has been made on their license application. Condo management firms and managers must meet the new minimum licensing requirements in Ontario to provide their services to condo boards, condo corporations and condo residents.
"With the growth of the condominium sector in Ontario over the last several years, regulation of the condominium management sector was identified by owners, industry experts and condo managers themselves as key to protecting condo consumers' significant investment," says Robin Dafoe, CMRAO Executive Director and Registrar. "To implement this new regulatory mandate, the CMRAO team has been working hard over the last few months to establish a new website and an easy-to-use online registration and licensing service to help condo firms and managers transition to the new system."
Ontario's condo management firms and managers play a very important role in condo communities across the province. Their responsibilities involve: planning and participating in meetings of condo boards and condo owners including annual general meetings and owners' meetings; responding to issues and queries from owners; preparing budgets for condo corporations and condo boards; interpreting and presenting financial statements for condo boards; preparing reports; and overseeing the maintenance or repair of units, common elements and other client assets.
The CMRAO has been working over the past several months to develop an online registration and licensing system to help make the transition to regulation as smooth, accessible and cost effective as possible. The enterprise technology solution is being delivered on a Microsoft Dynamics 365 platform by Adoxio Business Solutions.
Please see the FAQs for more information about the licences.
For more information about the CMRAO and its services, please visit www.cmrao.ca.
About the CMRAO
The Condominium Management Regulatory Authority of Ontario (CMRAO) began operations on November 1, 2017. Established under the Condominium Management Services Act (CMSA), the CMRAO is mandated to protect condominium consumers by setting standards and enforcing mandatory licensing of condo managers and condo management firms. It is a not-for-profit corporation funded by licensing fees paid by the condo management sector and governed by an independent board of directors. As an administrative authority established under legislation by the Government of Ontario, the CMRAO is required to report on its operations to the Ministry of Government and Consumer Services (MGCS).
SOURCE Condominium Authority of Ontario
For further information: Priya Ramsingh, Manager of Communications, CMRAO, Tel: 416-770-5632, Email: firstname.lastname@example.org