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HOW CMRAO LICENSING FEES ARE USED
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Publication date:
March 1, 2023
Article Summary:
The CMRAO is a not-for-profit corporation funded through licensing fees paid by condominium management licensees. These fees are used to support the CMRAO's consumer protection mandate and cover the regulatory costs associated with administering the Condominium Management Services Act, 2015 (CMSA). The CMRAO reviews its finances annually to ensure effective use of funds, and there will be a 4% increase in licensing fees in 2023 to accommodate rising costs. Licensing fees are essential for the CMRAO's operations and regulation of the condominium management sector, and the organization is committed to transparency and accountability in their use.
Keywords:
CMRAO, not-for-profit corporation, licensing fees, condominium management licensees, consumer protection mandate, Condominium Management Services Act 2015, regulatory costs, funding, financial review, transparency, accountability, rising costs, operations.
Source Citation:
HOW CMRAO LICENSING FEES ARE USED
March 1, 2023
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