Status Certificate - EXPLAINED

If you are buying a resale condo in Ontario, one document can tell you more about the building than any showing: the status certificate. Here is what it is, what is inside it and why reading it carefully can save you from an expensive surprise.

What Is a Status Certificate?

A status certificate is prepared by the condo corporation for a specific unit. Think of it as a check-up on both the unit and the building. Anyone can request one, so you or your agent can order it, or ask the seller to provide it.

It also carries legal weight. Under Ontario's Condominium Act, 1998, the status certificate binds the corporation as of the date it is given.

What's Inside

Ontario law sets out what a status certificate must include. You can expect to see:

• The monthly condo fee for the unit, and whether the current owner is behind on payments
• The budget and financial statements of the corporation
• Reserve fund details, including the reserve fund study
• Special assessments already levied or planned, and any major repairs coming up
• Legal proceedings involving the corporation
• Insurance information
• The declaration, by-laws and rules that govern the building
• Exclusive-use areas such as parking spaces or lockers

Why It Matters: The Reserve Fund

The reserve fund pays for major repairs and replacements, such as a new roof, garage waterproofing or elevator work. If the fund is too small when a big project comes due, owners may face a special assessment: a one-time payment on top of regular condo fees.

A building with a weak reserve fund can become a financial burden. The status certificate is where you find out before you commit.

Why It Matters: The Rules

The rules can affect how you live in or use the unit. Look closely for restrictions on:

• Short-term rentals
• Pets
• Renovations

If you plan to rent the unit out, bring a pet or renovate, make sure the rules allow it before you firm up.

Red Flags Your Lawyer Will Look For

• Unpaid condo fees on the unit, which can lead to a lien
• A reserve fund that looks too low for the building's age
• Planned special assessments or large upcoming repairs
• Lawsuits involving the corporation
• Parking or locker spaces that may not transfer to you on closing

How Much Time Do You Have to Review It?

This is a common point of confusion. The 10 days in Ontario law is the time the condo corporation has to deliver the certificate. Your review time is different. It is whatever period you negotiate in your offer.

That is why a resale condo offer usually includes a condition for the receipt and review of the status certificate by your lawyer. Agree on enough days for a proper review, and make sure the certificate can arrive in time.

Your Status Certificate Checklist

1. Ask for it early. Request it from the seller or the corporation as soon as you are serious about a unit.
2. Make your offer conditional on your lawyer's review of the status certificate.
3. Read the rules yourself with your plans in mind.
4. Have your lawyer review the finances and flag any concerns before the condition deadline.

Buying your first condo? Download my Free Buyer's Guide or visit my First-Time Home Buyers page.

Tarlika Sehgal, REALTOR®, SRS®, ABR® | eXp Realty Of Canada, Inc., Brokerage

Sources

• Condominium Authority of Ontario: Resale condos
• Condominium Authority of Ontario: What is a status certificate?
• Mann Lawyers: Buying a resale condo? What you need to know about the status certificate
• FirstService Residential: What is a status certificate in Ontario?

This article is general information, not legal advice. Every condo corporation is different. Please have a real estate lawyer review the status certificate before your offer becomes firm. Information is current as of October 2026.