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Why Is a Status Certificate so Important?

Ontario Condo Information Centre
Publication date:
November 22, 2022
Article Summary: 

This blog provides an overview of status certificates in condominiums. The author explains that a status certificate is a document that provides important information about the condominium corporation, including financial statements, by-laws, and insurance coverage. The blog highlights several key pieces of information that can be found in a status certificate, such as the condominium's budget, reserve fund, and any outstanding debts or liens. The author also explains how status certificates can be obtained, who can request them, and how much they typically cost. The blog emphasizes the importance of reviewing the status certificate before purchasing a condominium to ensure that there are no hidden issues or surprises.


status certificate, condominiums, financial statements, by-laws, insurance coverage, budget, reserve fund, outstanding debts, liens, purchasing, hidden issues.

Source Citation: 
Ontario Condo Information Centre
Why Is a Status Certificate so Important?
November 22, 2022
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