The Canadian Condominium’s Toronto & Area chapter is urging Ontario’s auditor general for renewed condo oversight. The association, which represents more than 2,500 condo corporations, sent a formal letter to Shelley Spence regarding outstanding recommendations outlined in the 2020 Value-for-Money Audit: Condominium Oversight in Ontario and its 2023 update, both compiled under Bonnie Lysk’s leadership.
The Ministry of Public and Business Service Delivery had an opportunity to proclaim changes to the Condo Act that would have allowed many key changes to move forward.
“On December 31, 2025, the deadline to proclaim these changes expired and although many were preserved through the passing of Bill 72 The Buy Ontario Act; changes related to reserve funds, procurement, budgeting and chargebacks were not preserved and remain of critical importance to Ontario’s condos and impact the affordability of housing for many Ontarians,” the letter states.
“It is our view that the failure to implement critical recommendations is of sufficient importance that the Office of the Auditor General should update its report, or consider a new report based on the current needs of the Condominium market,.”
Reserve funds relate to one proposed amendment that was not extended. According to the Condominium Authority of Ontario, amendments would have provided more guidance on what adequate funding means when it comes to condo reserve funds, as well as what qualifies as a major repair. Corporations that don’t keep an adequate fund would have been forced to get an expert’s written opinion on whether an early reserve fund study was needed.
Additional amendments would have opened the door for regulations to define a set process for how all condos in Ontario need to conduct their procurement processes. They also would have increased transparency around chargebacks, with new regulations that define more scenarios where condos could issue chargebacks to owners, as well as a mandatory notice and timelines for corporations notifying owners about chargebacks and how owners can respond.
