The short answer
A status certificate is a document that a condominium corporation must give to anyone who asks for one for a unit. It shows the unit's common expenses and any arrears, the budget and financial statements, the reserve fund, legal actions against the corporation, insurance and more. The corporation may charge up to $100, including taxes, and must give it to you within 10 days of your request and payment.
It is the main due diligence document when you buy a resale condo. It describes the corporation on the date it was made, so it is not a building inspection and it says nothing about the condition of your unit. Have your lawyer review it before your offer becomes firm.
What Is a Status Certificate?
Section 76 of Ontario’s Condominium Act, 1998 requires the corporation to give a status certificate, in the prescribed form, to each person who requests one for a unit. The Condominium Authority of Ontario (CAO) publishes the form, and it says anyone can request one. See the Condominium Act, 1998 on Ontario.ca and the CAO guide to status certificates.
The certificate states the date it was made, and the Act says it binds the corporation, as of that date, on the information it contains, as against a buyer or lender who relies on it. That is why the review matters: what the certificate says, and what it leaves out, shapes what you take on when you close. A newly built condo bought from a developer comes with a disclosure statement, which covers much of the same ground.
What Is in a Status Certificate?
The Act and Ontario Regulation 48/01 set the contents. In plain terms, you should see the following. See O. Reg. 48/01, section 18.
Your unit's money
The common expenses for the unit and any default in paying them, any increase the board declared since the budget and why, and any assessments levied against the unit. The regulation adds whether a certificate of lien has been registered against the unit.
Budget and financial statements
A copy of the current year's budget, the last audited financial statements and the auditor's report. The corporation also states whether the budget is accurate and the surplus or deficit it may produce.
The reserve fund
A statement on the most recent reserve fund study and updates, the amount in the fund, and any plan to increase it. The regulation adds the unit's annual contribution, the expected spending this year and whether the board expects the fund to be adequate.
Legal matters
All outstanding judgments against the corporation and the status of every legal action it is a party to. It also says whether the court has appointed an inspector or an administrator.
Insurance
A certificate or memorandum of insurance for each current policy, and a statement that the corporation has secured the insurance the Act requires.
Rules and agreements
The current declaration, by-laws and rules, a list of current agreements such as management and service contracts, the directors and officers, and the management provider's contact details.
The certificate also reports any substantial changes the board has proposed to the common elements but not yet carried out, and the number of units leased in the last fiscal year.
Cost, Timing and Your Rights
At a glance
What the law says
Cost
The corporation may charge up to $100 for the certificate, including all required material and all applicable taxes.
Delivery
Within 10 days after the corporation receives your request and payment. Some corporations offer faster delivery for a higher fee, but they must offer the $100, 10-day option.
If it is late
A certificate that is not given in time is deemed given the day after the 10 days expire, and it says there is no default in common expenses, no increase declared and no reserve fund assessment. Do not take comfort from that. Ask for the real one.
If something is left out
Information that is required but omitted is deemed to say there is none.
The agreements
On written request and reasonable notice, you can examine the agreements the certificate lists, and you can ask for copies for a reasonable fee.
How to Read a Status Certificate
Your lawyer should read the whole certificate and its attachments. The checks below show where the problems usually surface. Our article on the five red flags in a condo status certificate goes deeper on the warning signs.
1
Start with the reserve fund
Compare the fund balance with the reserve fund study. The Act requires periodic studies, and within 120 days of receiving one the board must propose a plan for funding the reserve fund, so look for that plan and whether it has been put in place.
2
Look for assessments and fee increases
Check for assessments already levied, increases the board has declared and anything the corporation knows that could raise your common expenses. Ask what major repairs are coming.
3
Test the budget
See whether the corporation says its budget is accurate, and whether it expects a surplus or a deficit. A deficit can mean a future fee increase.
4
Read the legal section
Judgments and lawsuits can cost the corporation money, and the owners pay in the end. Ask about the status of each action.
5
Check the insurance
Confirm that the corporation has the policies the Act requires, and read the deductibles on the insurance certificate.
6
Read the rules that affect you
The declaration, by-laws and rules may limit pets, rentals, short-term rentals and renovations. Check each one against how you plan to use the unit.
Many resale agreements make the purchase conditional on your review of the status certificate within a set number of days. Order it as soon as your offer is accepted, so your lawyer has the time to review it before the condition expires. Waiving the condition to make an offer more competitive means taking on whatever the certificate would have shown.
The CAO also suggests checking its Condo Registry and reading the declaration, by-laws and rules, and it advises buyers to speak with a legal professional before they sign. See CAO, buying a resale condo.
If Your Closing Is Delayed
The Act does not give a status certificate an expiry date. It speaks as of the date it was made, and the reserve fund amount it reports must be as of the end of a month within 90 days of that date. If your closing is pushed back a long way, ask your lawyer whether to request an updated certificate. It costs up to $100 and arrives within 10 days.
We review every status certificate, explain what it means for you and flag the costs ahead before you commit to the purchase. We serve clients in English, Hindi and Punjabi. Call (647) 696-8069 or book a free consultation below. See our status certificate review service and our residential purchase service. Buying a new condo from a developer instead? See our Tarion warranty guide and our pre-construction condo service.
Frequently Asked Questions
What is a status certificate for a condo in Ontario?
It is a document the condominium corporation must provide on request under section 76 of the Condominium Act, 1998. It reports the unit’s common expenses, the budget and financial statements, the reserve fund, legal actions, insurance and other information about the corporation.
How much does a status certificate cost?
The corporation may charge up to $100, including taxes and all required material. Some corporations charge more for faster delivery, but they must offer the $100 option.
How long does it take to get a status certificate?
The corporation must give it to you within 10 days after it receives your request and payment.
Who can request a status certificate?
The CAO says anyone can request one. The corporation gives it to each person who asks.
What happens if the condo corporation does not deliver it on time?
The Act deems a certificate to have been given the day after the 10 days expire, stating no default in common expenses, no increase declared and no reserve fund assessment. That deemed statement is not a review of the corporation, so ask for the real certificate.
How long is a status certificate good for?
The Act does not set an expiry date. It speaks as of the date it was made, and the reserve fund amount is reported as of a month-end within 90 days of that date. If closing is delayed a long time, ask your lawyer about an updated one.
What is a reserve fund study?
It is a study the corporation must conduct periodically to check whether the reserve fund and the contributions are enough for the expected costs of major repairs and replacements. The board must then propose a plan to fund the reserve fund.
Do I need a lawyer to review a status certificate?
The CAO advises buyers to review it with legal counsel. A lawyer reads the certificate and its attachments together and explains what they mean for the price and the costs you will carry.
Does a new condo have a status certificate?
A condo bought from a developer comes with a disclosure statement, which covers much of the same information. Once the corporation exists, a status certificate is available for resales.
Legal Information, Not Legal Advice. This guide summarizes section 76 and section 94 of the Condominium Act, 1998, section 18 of Ontario Regulation 48/01 as shown on Ontario.ca (current to October 20, 2026), and the Condominium Authority of Ontario website, checked on October 23, 2026. Some amendments to the Act await proclamation and a corporation’s own documents differ, so confirm the current rules and speak with a real estate lawyer before you rely on this guide.
